Navitas Semiconductor (NVTS) Earnings: Q3 2026 Results

The quarter ended September 30, 2026 and Navitas published the results on November 3, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison. Navitas reports EPS two ways: GAAP, under the accounting rules every US filer follows, and non-GAAP, which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.

• Q2 2026 GAAP net loss included a non-cash charge of $203.1 million from the final remeasurement of earnout liabilities from Navitas's 2021 business combination. All three earnout triggering events were achieved before Q3 2026, and there was no earnout charge in Q3.
• Navitas closed its acquisition of Claros on October 6, 2026, after the quarter ended, so Q3 2026 results do not include it.

Source: Navitas Q3 2026 results, November 3, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

From the earnings release

In its Q3 2026 release, Navitas said:

“Fourth quarter 2026 net revenues are expected to increase to $16.0 million, plus or minus $0.5 million, which at the midpoint represents 14% sequential growth and 119% year-over-year growth.”

“Non-GAAP gross margin is expected to be 40.5%, plus or minus 100 basis points, which at the midpoint represents a 50-basis point increase.”

“Non-GAAP operating expenses are expected to be $25.0 million, plus or minus $1.0 million, which includes the operational expenses associated with the acquired Claros business.”

Source: Navitas Q3 2026 release (Form 8-K, Exhibit 99.1), Nov 3, 2026.

This is the company's own guidance as of Nov 3, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the NVTS forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

GAAP net revenues and diluted net loss per share, each as first reported. Q2 2026 includes the $203.1 million earnout remeasurement charge.

We do not hold a confirmed date for Navitas's next report. Companies post the date on their investor relations site a few weeks ahead, usually with the time of the conference call.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Nov 3, 2026

Navitas sells gallium nitride (GaN) and silicon carbide (SiC) power semiconductors. Net revenues were $14.0 million in Q3 2026, up 33% from $10.5 million in Q2 2026 and 38% from $10.1 million in Q3 2025, the first year-over-year growth since 2024 by the CFO's account. Navitas said revenue from high-power markets grew more than 50% sequentially. (Navitas Q3 2026 release, Nov 3, 2026)

Under its Navitas 2.0 plan, Navitas is exiting the mobile and low-end consumer market, which made up a large majority of revenue in 2025, and concentrating on AI data centers, grid and energy infrastructure and other high-power markets. It expects AI infrastructure to be more than 40% of total revenue by year-end, and its investor update puts mobile at less than 5% of the mix in Q4 2026. (Navitas Q3 2026 release, Nov 3, 2026; Navitas investor update, Q3 2026 (Form 8-K, Exhibit 99.2), Nov 3, 2026)

Navitas sells mostly through distributors. In Q3 2026 Distributor A accounted for 55% of net revenues and Distributor C for 21%. By region, Hong Kong was 65% of revenue and the United States 25%, against 54% and 7% a year earlier, while China fell to zero from 10%. (Navitas Form 10-Q, Q3 2026, Nov 3, 2026)

On October 6, 2026, Navitas acquired Claros, a developer of power management for AI data-center applications, adding integrated voltage regulation (IVR) technology. It paid about $126 million in cash, net of cash acquired, and issued about 6.9 million shares of Class A common stock. (Navitas Q3 2026 release, Nov 3, 2026; Navitas Form 10-Q, Q3 2026, Nov 3, 2026)

Navitas's GAAP net loss was $37.1 million, or $0.14 per share, in Q3 2026, against $19.2 million, or $0.09 per share, a year earlier. Its non-GAAP net loss was $6.9 million, or $0.03 per share. The non-GAAP figures exclude stock-based compensation of $9.0 million, amortization of acquisition-related intangible assets of $3.2 million, and $17.7 million of restructuring, impairment and other expense. (Navitas Q3 2026 release, Nov 3, 2026)

The restructuring charges come from the Navitas 2.0 plan announced in Q4 2025, built around a 19% targeted workforce reduction, and in Q3 2026 included a $2.9 million noncash impairment of an epitaxial reactor. GAAP gross margin rose to 21.5% from (2.0%) a year earlier, mainly because some developed technology intangibles became fully amortized; non-GAAP gross margin was 40.0%. (Navitas Q3 2026 release, Nov 3, 2026; Navitas Form 10-Q, Q3 2026, Nov 3, 2026)

Shares used in the per-share calculation rose to 261,529 thousand from 212,681 thousand. Cash and cash equivalents were $531.5 million at September 30, 2026, against $236.9 million at December 31, 2025. (Navitas Q3 2026 release, Nov 3, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

Navitas gives a quarterly outlook in its release. For Q4 2026 it expects net revenues of $16.0 million, plus or minus $0.5 million, which at the midpoint is 14% sequential growth and 119% year-over-year growth, non-GAAP gross margin of 40.5%, plus or minus 100 basis points, and non-GAAP operating expenses of $25.0 million, plus or minus $1.0 million, including Claros. (Navitas Q3 2026 release, Nov 3, 2026)

At the midpoint, its investor update puts full-year 2026 revenue at $49.1 million, about 7% growth, with high-power markets expected to grow 125% from 2025. (Navitas investor update, Q3 2026 (Form 8-K, Exhibit 99.2), Nov 3, 2026; Navitas Q3 2026 release, Nov 3, 2026)

A consensus figure is the average of the models published by the analysts who cover Navitas, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones Navitas's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning NVTS is on is NVTS a buy or a sell?, what analysts expect next is on the NVTS forecast, and what the company does is on the Navitas Semiconductor (NVTS) stock page.

Every number on this page can be traced to a document Navitas published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.