Navitas revenue falls 39% as company pivots to high-power chips; control weaknesses remediated

Filed May 5, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 9, 2025 · ~1 min read

Key Changes

• high

  Revenue declined 39% year-over-year to $8.6M, driven by mobile and consumer weakness in China. Operating cash burn increased 21% to $16.4M despite restructuring efforts.

  MD&A: Revenue and Cash Flow verify on EDGAR →
• high

  Company announced 'Navitas 2.0' strategic pivot to high-power semiconductors for AI data centers and energy infrastructure, de-emphasizing legacy mobile charger business with Samsung, Xiaomi, and other tier-1 OEMs.

  MD&A: Business Description verify on EDGAR →
• high

  Material weaknesses in internal controls over financial reporting have been remediated; disclosure controls now deemed effective as of March 31, 2026, following year-long remediation plan.

  Controls and Procedures verify on EDGAR →