$Navitas Semiconductor Corp(NV-To The Moon - Tiger Brokers Online Investing Community - To The Moon

$Navitas Semiconductor Corp(NVTS)$ the industry leader in next-generation power semiconductors, today announced unaudited financial results for the second quarter ended June 30, 2020.

Revenue up 110% from prior year, and up 35% from prior quarter.

Customer pipeline increased 30% to over $1 billion, with growth across all markets.

Cumulative shipments now exceed 100 million GaN and 12 million SiC devices.

Business Outlook

Third-quarter 2023 net revenues are expected to increase to $21 million plus or minus 2%. Given expected continued strength in the lower-margin mobile market, gross margin for the third quarter is expected to be relatively flat compared to the second quarter of 2023. Operating expenses, excluding stock-based compensation and amortization of intangible assets, are expected to be approximately $18.5 to $19.5 million in the third quarter of 2023. Weighted-average basic share count is expected to be approximately 175 million shares at the end of the third quarter of 2023.

More can be found here:

www.benzinga.com/amp/content/33843186

Semiconductor Companies & Industry DIG

The global semiconductor industry has been evolving and growing steadily. Semiconductors are the foundation of contemporary electronics. What companies in your watchlist? Do you have special comments to share?

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