Ranking recognizes growth driven by strong demand for next-gen GaN and SiC power semis in EV, solar, appliance / industrial, data center and mobile

Navitas Semiconductor (Nasdaq: NVTS), the pure-play industry leader in next-generation GaNFast™ gallium nitride (GaN) and GeneSiC™ silicon carbide (SiC) power semiconductors, secured the 49th position on Forbes’ 2024 America’s Successful Small Companies list. The ranking is recognition of the company’s growth based on strong demand for Navitas’ advanced, high-efficiency, wide bandgap (WBG) GaN and SiC power components, across growing and diverse global markets and an expanding customer base.

Forbes evaluated Navitas on earnings growth, sales growth, return on equity, and total stock return over the preceding five years, with a specific focus on the last 12 months, including Navitas’ 115% increase in revenue (Q3’22 to Q3’23).

Looking ahead, Navitas will host an in-person 2023 Investor Day at the company’s new Torrance HQ (with livestream), from 12:30 pm Pacific / 3:30 pm US Eastern on Tuesday 12th December. Highlights include a deep dive into four major new GaN/SiC technology platforms and focus markets, plus customer testimonials and a refresh on the $1B+ customer pipeline, plus 2024 and long-term financial outlook.

“The top 50 ranking is great recognition by Forbes for Navitas’ growth,” said Gene Sheridan, co-founder and CEO. “GaN and SiC are accelerating the transition away from fossil fuels to ‘Electrify Our World™’ with renewable sources and efficient uses of electricity. This disruptive, displacement technology upgrades from legacy silicon chips, to make existing applications more efficient, lighter, faster charging and longer range, with lower system costs.”