Navitas Semiconductor Q3 2026: AI Data Center Pivot Takes Hold

Navitas Semiconductor reported Q3 2026 revenue of $13.99 million, beating expectations and growing 38% year over year. The adjusted loss per share came in at negative $0.03, beating expectations. It was the eighth consecutive quarter in which the company beat adjusted EPS expectations.

The cleaner bottom line reflects two forces working together: high-power segment sales grew more than 50% sequentially while the company deliberately wound down mobile and low-end consumer revenue toward zero. Non-GAAP gross margin widened to 40.0%, helped partly by the full amortization of certain developed-technology intangibles that had been dragging on cost of revenues.

Management set Q4 2026 revenue guidance at $16.0 million at the midpoint, which would represent 119% year-over-year growth and the highest quarterly revenue in seven quarters. AI infrastructure is expected to account for more than 40% of that Q4 mix, while mobile is guided below 5%.

The October close of the Claros acquisition adds integrated voltage regulation technology to Navitas's existing gallium nitride and silicon carbide portfolio, completing what CEO Chris Allexandre described as a grid-to-xPU stack covering both vertical and embedded power delivery architectures. Management cited a book-to-bill well above one and backlog extending into mid-2027 as signals that the customer pipeline is building ahead of that ramp.

Looking further out, management said it expects roughly 3x AI infrastructure revenue growth in 2027 and sees its serviceable addressable market expanding to over $8 billion by 2030. The full-year 2026 implied revenue midpoint lands at about $49.1 million, with high-power market revenue up 125% for the year.