Navitas’ 2,129% Increase in 3-Year Revenue Ranks 72nd in 2023 NA Deloitte Technology Fast 500™
Second consecutive ranking, driven by strong demand for next-gen GaN and SiC power semis in EV, solar, appliance / industrial and mobile
TORRANCE, Calif., Nov. 09, 2023 (GLOBE NEWSWIRE) -- (Nasdaq: NVTS) has announced that the company has been ranked 72nd on this year’s North American . This is the second year running that Navitas has been featured, improving from 75th to 72nd place, with increased revenue driven by strong demand for its advanced, high-efficiency, wide bandgap (WBG) gallium nitride (GaN) and silicon carbide (SiC) power components, across a growing number of global markets and customers.
Now in its 29th year, the Deloitte Technology Fast 500 is an independent ranking of the 500 fastest-growing technology, media, telecommunications, life sciences, fintech, and energy tech companies in North America. Based on percentage fiscal year revenue growth from 2019 to 2022, Navitas achieved 2,129% growth as GaN and SiC technology enabled efficient, sustainable applications and displaced legacy silicon chips.
Commenting on this year’s ranking, Navitas founder and CEO Gene Sheridan stated: “Our next-gen power-semi technologies are creating significant growth opportunities as we displace silicon in existing multi-$B markets like data centers, consumer, appliance and mobile applications. They also enable new-energy markets that are adopting GaN and SiC from the start, like EV, energy storage and renewable segments. When combined, the growth results are extraordinary, and we appreciate the recognition of the Deloitte Fast 500 listing. We have built a strong foundation for further growth with established 3x-5x capacity increases, technology generational upgrades every 12-18 months, and a customer-focused, complete power-system design center approach, for applications from 20 W to 20 MW addressing a $22B per year opportunity.”
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About Navitas
(Nasdaq: NVTS) is the only pure-play, next-generation power-semiconductor company, founded in 2014. integrate gallium nitride (GaN) power and drive, with control, sensing, and protection to enable faster charging, higher power density, and greater energy savings. silicon carbide (SiC) devices offer industry-leading in-circuit performance, robustness and an unprecedented 650 to 6,500 voltage range to address complimentary higher-voltage and higher-power applications. Focus markets include EV, solar, energy storage, home appliance / industrial, data center, mobile and consumer. Over 185 Navitas patents are issued or pending. Over 100 million GaN and 12 million SiC units have been shipped, and with the industry’s first and only . Navitas was the world’s first semiconductor company to be .
Navitas Semiconductor, GaNFast, GeneSiC and the Navitas logo are trademarks or registered trademarks of Navitas Semiconductor Limited and affiliates. All other brands, product names and marks are or may be trademarks or registered trademarks used to identify products or services of their respective owners.
Contact:
Stephen Oliver, VP Corporate Marketing & Investor Relations, .
A photo accompanying this announcement is available at
