Navitas Semiconductor Corp. (NASDAQ:NVTS) is one of the best performing semiconductor stocks so far in 2026.
On May 5, Navitas Semiconductor reported Q1 2026 total revenue of $8.6 million, representing an 18% sequential increase from Q4 2025, though down from $14.0 million in Q1 2025
This sequential rebound reflects the company’s strategic pivot away from mobile and consumer electronics toward high-power markets, which grew 35% year-over-year and now account for a large majority of total revenue. Financial performance showed sequential improvement, with the GAAP gross margin recovering to negative 9.3% from negative 17.2% in the prior quarter, while non-GAAP gross margin expanded 30 basis points sequentially to 39.0%. The GAAP operating loss narrowed to $27.8 million, and the non-GAAP operating loss improved slightly to $11.7 million.
The company closed the quarter with $221.0 million in cash and cash equivalents. On the technology front, Navitas Semiconductor Corp. (NASDAQ:NVTS) showcased its GaNFast and GeneSiC power semiconductor capabilities at Nvidia’s GTC and APEC 2026, debuting advanced power delivery boards and solid-state transformer solutions tailored for AI data centers. To guide this high-power business expansion, Tonya Stevens was appointed as CFO.