Navitas Semiconductor Stock Sinks After Q3 Guidance Disappoints

Navitas Semiconductor Corp (NASDAQ:NVTS) reported second-quarter financial results Monday after the market close. Here’s what you need to know from the report.

NVTS stock is down today. Check the latest price here.

Q2 Earnings: Navitas Semiconductor reported second-quarter revenue of $14.49 million, beating analyst estimates of $14.38 million, according to Benzinga Pro. The company reported a second-quarter adjusted loss of five cents per share, in line with analyst estimates.

Navitas Semiconductor ended the period with $161.2 million in cash and cash equivalents.

“Despite ...