Navitas Semiconductor Corporation (NVTS) Q4 2024 Earnings Call Transcript

For the period ending December 31, 2024

February 24, 2025 5:00 p.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Good afternoon. Thank you for standing by, and welcome to Navitas Semiconductor’s Fourth Quarter 2024 Financial Results Conference Call.

Please be advised, today’s conference is being recorded and a replay will be available on Navitas Semiconductor’s Investor Relations website.

I would now like to hand the conference over to Stephen Oliver, Vice President of Investor Relations.

Stephen Oliver

Good afternoon, everyone. I’m Stephen Oliver, Vice President of Investor Relations. Thank you for joining Navitas Semiconductor’s fourth quarter and full-year 2024 results conference call.

I’m joined today by Gene Sheridan, our Chairman, President, CEO and Co-Founder; and Todd Glickman, CFO. A replay of this webcast will be available on our website approximately one hour following this conference call and available for approximately 30 days. Additional information related to our business is also posted on the Investor Relations section of our website.

Our earnings release includes non-GAAP financial measures. Reconciliations of these non-GAAP financial measures with the most directly comparable GAAP measures are included in our fourth quarter earnings release and also posted on our website in the Investor Relations section. Non-GAAP expenses and operating margin exclude stock-based compensation, amortization of intangible assets and other non-recurring items.

In this conference call, we will make forward-looking statements about future events or about the future financial performance of Navitas, including acquisitions. You can identify these statements by words like we expect or we believe or similar terms. We wish to caution you that such forward-looking statements are subject to risks and uncertainties that could cause actual events or results to differ materially from expectations expressed in our forward-looking statements.

Important factors that can affect Navitas’ business, including factors that could cause actual results to differ from our forward-looking statements, are described in our earnings release. Please also refer to the Risk Factors sections in our most recent 10-K and 10-Qs. Our estimates or other forward-looking statements may change, and Navitas assumes no obligation to update forward-looking statements to reflect actual results, changed assumptions or other events that may occur except as required by law.

And now, over to Gene Sheridan, CEO.

Gene Sheridan

Thank you, Steve, and thanks to everyone joining us today.

We completed 2024 with an all-time high of $83 million in revenue despite a semiconductor slowdown throughout the year in which most of our larger power semiconductor peers saw declining revenues.