Navitas Q2 FY26 GAAP net loss widens to $228.2 million; revenue rises 22% quarter-on-quarter to $10.5 million

• Navitas posted Q2 revenue of $10.5 million, up 22% sequentially, as high-power markets grew more than 50% year-over-year.
• GAAP net loss widened to $228.2 million, including a $203.1 million non-cash charge from final remeasurement of earnout liabilities.
• GAAP gross margin swung to 0.4% from (9.3%) sequentially; non-GAAP gross margin edged up 50 basis points to 39.5%.
• Cash and cash equivalents rose to $557.4 million at June 30, 2026, from $236.9 million at Dec. 31, 2025.
• Q3 revenue forecast at $13.5 million ± $0.5 million, implying 28% sequential growth, with non-GAAP gross margin guided to 39.7% ± 100 basis points.

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