Navitas Reports Q2 Revenue Gain as It Pushes Into AI Power Chips

Improved sales, higher non‑GAAP margins and a $557.4 million cash balance give the company room to commercialize GaN and SiC products for data centers.

Overview

Navitas posted Q2 revenue of about $10.5 million, a 22% sequential rise, and guided Q3 to $13.5 million plus or minus $0.5 million with a projected non‑GAAP gross margin near 39.7%.
The company is executing a strategy called Navitas 2.0 to move from mobile parts into high‑power markets and expects AI data center, grid and energy sales to exceed one‑third of revenue by year‑end.
High‑power demand grew more than 50% year over year and the firm showed new GaN and SiC products and an NVIDIA MGX demonstration to support adoption in AI infrastructure.
Navitas strengthened liquidity to $557.4 million from $236.9 million at the end of 2025, but it still ran adjusted losses and recorded about $48.3 million of operating cash outflow in the first half of the year.
Execution risks include heavy customer concentration with one distributor accounting for roughly 71% of Q2 revenue and active legal disputes from Renesas and Wolfspeed that could delay or constrain commercialization.