$NVTS
Navitas Semiconductor Corp Stock $nvts

$nvts Overview Financials Valuation SEC Filings Company Website

2023 Q1 Form 10-Q Financial Statement

#000182176923000090 Filed on May 15, 2023

Income Statement

Concept	2023 Q1	2022 Q1
Revenue	$13.36M	$6.740M
YoY Change	98.19%	26.76%
Cost Of Revenue	$7.873M	$3.777M
YoY Change	108.45%	27.64%
Gross Profit	$5.485M	$2.963M
YoY Change	85.12%	25.66%
Gross Profit Margin	41.06%	43.96%
Selling, General & Admin	$19.06M	$24.54M
YoY Change	-22.35%	357.14%
% of Gross Profit	347.46%	828.35%
Research & Development	$17.39M	$13.41M
YoY Change	29.68%	215.3%
% of Gross Profit	317.12%	452.68%
Depreciation & Amortization	$500.0K	$125.0K
YoY Change	300.0%	56.25%
% of Gross Profit	9.12%	4.22%
Operating Expenses	$40.95M	$37.96M
YoY Change	7.89%	294.44%
Operating Profit	-$35.47M	-$34.99M
YoY Change	1.35%	381.68%
Interest Expense	$903.0K	-$24.00K
YoY Change	-3862.5%	-60.66%
% of Operating Profit
Other Income/Expense, Net	-$26.84M	$114.8M
YoY Change	-123.38%	-188278.69%
Pretax Income	-$62.30M	$79.80M
YoY Change	-178.08%	-1189.2%
Income Tax	$61.00K	$3.000K
% Of Pretax Income		0.0%
Net Earnings	-$61.85M	$79.79M
YoY Change	-177.51%	-1186.34%
Net Earnings / Revenue	-463.0%	1183.86%
Basic Earnings Per Share	-$0.39	$0.67
Diluted Earnings Per Share	-$0.39	$0.61
COMMON SHARES
Basic Shares Outstanding	156.8M shares	119.5M shares
Diluted Shares Outstanding	156.8M shares	131.1M shares

Balance Sheet

Concept	2023 Q1	2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments	$100.8M	$253.8M
YoY Change	-60.27%	685.94%
Cash & Equivalents	$100.8M	$253.8M
Short-Term Investments
Other Short-Term Assets	$2.880M	$2.988M
YoY Change	-3.61%	830.84%
Inventory	$18.87M	$13.13M
Prepaid Expenses
Receivables	$7.423M	$9.621M
Other Receivables	$0.00	$0.00
Total Short-Term Assets	$130.0M	$279.5M
YoY Change	-53.49%	15970.76%
LONG-TERM ASSETS
Property, Plant & Equipment	$6.840M	$2.471M
YoY Change	176.81%	162.04%
Goodwill	$161.4M
YoY Change
Intangibles	$105.6M	$82.00K
YoY Change	128642.68%
Long-Term Investments
YoY Change
Other Assets	$5.581M	$3.223M
YoY Change	73.16%	3222.68%
Total Long-Term Assets	$286.0M	$7.367M
YoY Change	3781.76%	-97.09%
TOTAL ASSETS
Total Short-Term Assets	$130.0M	$279.5M
Total Long-Term Assets	$286.0M	$7.367M
Total Assets	$416.0M	$286.9M
YoY Change	44.99%	12.6%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$13.61M	$5.216M
YoY Change	160.93%	24.7%
Accrued Expenses	$9.188M	$4.448M
YoY Change	106.56%	3461.19%
Deferred Revenue		$17.00K
YoY Change
Short-Term Debt	$0.00	$0.00
YoY Change
Long-Term Debt Due		$3.200M
YoY Change		100.0%
Total Short-Term Liabilities	$23.47M	$12.88M
YoY Change	82.22%	10198.79%
LONG-TERM LIABILITIES
Long-Term Debt	$0.00	$2.919M
YoY Change	-100.0%	-33.28%
Other Long-Term Liabilities	$46.06M	$0.00
YoY Change		-100.0%
Total Long-Term Liabilities	$46.06M	$2.919M
YoY Change	1478.07%	-34.45%
TOTAL LIABILITIES
Total Short-Term Liabilities	$23.47M	$12.88M
Total Long-Term Liabilities	$46.06M	$2.919M
Total Liabilities	$71.37M	$87.17M
YoY Change	-18.13%	223.73%
SHAREHOLDERS EQUITY
Retained Earnings	-$216.6M	-$148.9M
YoY Change	45.49%	6498.83%
Common Stock	$18.00K	$15.00K
YoY Change	20.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	$344.6M	$199.7M
YoY Change
Total Liabilities & Shareholders Equity	$416.0M	$286.9M
YoY Change	44.99%	12.6%

Cashflow Statement

Concept	2023 Q1	2022 Q1
OPERATING ACTIVITIES
Net Income	-$61.85M	$79.79M
YoY Change	-177.51%	-1186.34%
Depreciation, Depletion And Amortization	$500.0K	$125.0K
YoY Change	300.0%	56.25%
Cash From Operating Activities	-$7.920M	-$10.60M
YoY Change	-25.29%	82.4%
INVESTING ACTIVITIES
Capital Expenditures	$815.0K	$294.0K
YoY Change	177.21%	-5.77%
Acquisitions
YoY Change
Other Investing Activities	-$1.000M	-$2.698M
YoY Change	-62.94%	-135000.0%
Cash From Investing Activities	-$1.815M	-$2.992M
YoY Change	-39.34%	202.22%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net	-$221.0K	$24.00K
YoY Change	-1020.83%	-110.81%
Debt Paid & Issued, Net	$0.00	$800.0K
YoY Change	-100.0%
Cash From Financing Activities	$221.0K	-$862.0K
YoY Change	-125.64%	-488.29%
NET CHANGE
Cash From Operating Activities	-$7.920M	-$10.60M
Cash From Investing Activities	-$1.815M	-$2.992M
Cash From Financing Activities	$221.0K	-$862.0K
Net Change In Cash	-$9.514M	-$14.46M
YoY Change	-34.18%	119.78%
FREE CASH FLOW
Cash From Operating Activities	-$7.920M	-$10.60M
Capital Expenditures	$815.0K	$294.0K
Free Cash Flow	-$8.735M	-$10.90M
YoY Change	-19.83%	77.91%

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
CY2023Q1	dei	Amendment Flag AmendmentFlag	false
CY2023Q1	dei	Entity Central Index Key EntityCentralIndexKey	0001821769
CY2023Q1	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2023
CY2023Q1	dei	Document Fiscal Period Focus DocumentFiscalPeriodFocus	Q1
CY2023Q1	dei	Current Fiscal Year End Date CurrentFiscalYearEndDate	--12-31
CY2023Q1	dei	Document Type DocumentType	10-Q
CY2023Q1	dei	Document Quarterly Report DocumentQuarterlyReport	true
CY2023Q1	dei	Document Period End Date DocumentPeriodEndDate	2023-03-31
CY2023Q1	dei	Document Transition Report DocumentTransitionReport	false
CY2023Q1	dei	Entity File Number EntityFileNumber	001-39755
CY2023Q1	dei	Entity Registrant Name EntityRegistrantName	Navitas Semiconductor Corporation
CY2023Q1	dei	Entity Incorporation State Country Code EntityIncorporationStateCountryCode	DE
CY2023Q1	dei	Entity Tax Identification Number EntityTaxIdentificationNumber	85-2560226
CY2023Q1	dei	Entity Address Address Line1 EntityAddressAddressLine1	3520 Challenger Street
CY2023Q1	dei	Entity Address Postal Zip Code EntityAddressPostalZipCode	90503-1640
CY2023Q1	dei	Entity Address City Or Town EntityAddressCityOrTown	Torrance,
CY2023Q1	dei	Entity Address State Or Province EntityAddressStateOrProvince	CA
CY2023Q1	dei	City Area Code CityAreaCode	844
CY2023Q1	dei	Local Phone Number LocalPhoneNumber	654-2642
CY2023Q1	dei	Security12b Title Security12bTitle	Class A Common Stock,par value $0.0001 per share
CY2023Q1	dei	Trading Symbol TradingSymbol	NVTS
CY2023Q1	dei	Security Exchange Name SecurityExchangeName	NASDAQ
CY2023Q1	dei	Entity Current Reporting Status EntityCurrentReportingStatus	Yes
CY2023Q1	dei	Entity Interactive Data Current EntityInteractiveDataCurrent	Yes
CY2023Q1	dei	Entity Filer Category EntityFilerCategory	Non-accelerated Filer
CY2023Q1	dei	Entity Small Business EntitySmallBusiness	true
CY2023Q1	dei	Entity Emerging Growth Company EntityEmergingGrowthCompany	true
CY2023Q1	dei	Entity Ex Transition Period EntityExTransitionPeriod	false
CY2023Q1	dei	Entity Shell Company EntityShellCompany	false
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CY2023Q1	us-gaap	Allowance For Doubtful Accounts Receivable Current AllowanceForDoubtfulAccountsReceivableCurrent	300000	usd
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CY2023Q1	us-gaap	Operating Lease Right Of Use Asset Amortization Expense OperatingLeaseRightOfUseAssetAmortizationExpense	512000	usd
CY2022Q1	us-gaap	Operating Lease Right Of Use Asset Amortization Expense OperatingLeaseRightOfUseAssetAmortizationExpense	243000	usd
CY2023Q1	us-gaap	Other Noncash Income Expense OtherNoncashIncomeExpense	-85000	usd
CY2022Q1	us-gaap	Other Noncash Income Expense OtherNoncashIncomeExpense	357000	usd
CY2023Q1	us-gaap	Share Based Compensation ShareBasedCompensation	17161000	usd
CY2022Q1	us-gaap	Share Based Compensation ShareBasedCompensation	25326000	usd
CY2023Q1	us-gaap	Amortization Of Financing Costs And Discounts AmortizationOfFinancingCostsAndDiscounts	0	usd
CY2022Q1	us-gaap	Amortization Of Financing Costs And Discounts AmortizationOfFinancingCostsAndDiscounts	3000	usd
CY2023Q1	nvts	Fair Value Warrant Changes In Fair Value Gain Loss FairValueWarrantChangesInFairValueGainLoss	0	usd
CY2022Q1	nvts	Fair Value Warrant Changes In Fair Value Gain Loss FairValueWarrantChangesInFairValueGainLoss	51763000	usd
CY2023Q1	nvts	Fair Value Adjustment Of Earnout Liabilities FairValueAdjustmentOfEarnoutLiabilities	-27752000	usd
CY2022Q1	nvts	Fair Value Adjustment Of Earnout Liabilities FairValueAdjustmentOfEarnoutLiabilities	63406000	usd
CY2023Q1	us-gaap	Deferred Income Tax Expense Benefit DeferredIncomeTaxExpenseBenefit	5000	usd
CY2022Q1	us-gaap	Deferred Income Tax Expense Benefit DeferredIncomeTaxExpenseBenefit	0	usd
CY2023Q1	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	-1704000	usd
CY2022Q1	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	1358000	usd
CY2023Q1	us-gaap	Increase Decrease In Inventories IncreaseDecreaseInInventories	-188000	usd
CY2022Q1	us-gaap	Increase Decrease In Inventories IncreaseDecreaseInInventories	1152000	usd
CY2023Q1	us-gaap	Increase Decrease In Prepaid Deferred Expense And Other Assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets	-743000	usd
CY2022Q1	us-gaap	Increase Decrease In Prepaid Deferred Expense And Other Assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets	109000	usd
CY2023Q1	us-gaap	Increase Decrease In Other Operating Assets IncreaseDecreaseInOtherOperatingAssets	1612000	usd
CY2022Q1	us-gaap	Increase Decrease In Other Operating Assets IncreaseDecreaseInOtherOperatingAssets	-1391000	usd
CY2023Q1	us-gaap	Increase Decrease In Accounts Payable And Accrued Liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities	3376000	usd
CY2022Q1	us-gaap	Increase Decrease In Accounts Payable And Accrued Liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities	817000	usd
CY2023Q1	us-gaap	Increase Decrease In Operating Lease Liability IncreaseDecreaseInOperatingLeaseLiability	-511000	usd
CY2022Q1	us-gaap	Increase Decrease In Operating Lease Liability IncreaseDecreaseInOperatingLeaseLiability	-241000	usd
CY2023Q1	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-7920000	usd
CY2022Q1	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-10601000	usd
CY2023Q1	us-gaap	Payments To Acquire Investments PaymentsToAcquireInvestments	1000000	usd
CY2022Q1	us-gaap	Payments To Acquire Investments PaymentsToAcquireInvestments	0	usd
CY2023Q1	us-gaap	Payments To Acquire Interest In Joint Venture PaymentsToAcquireInterestInJointVenture	0	usd
CY2022Q1	us-gaap	Payments To Acquire Interest In Joint Venture PaymentsToAcquireInterestInJointVenture	2704000	usd
CY2023Q1	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	815000	usd
CY2022Q1	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	294000	usd
CY2023Q1	us-gaap	Proceeds From Collection Of Notes Receivable ProceedsFromCollectionOfNotesReceivable	0	usd
CY2022Q1	us-gaap	Proceeds From Collection Of Notes Receivable ProceedsFromCollectionOfNotesReceivable	6000	usd
CY2023Q1	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-1815000	usd
CY2022Q1	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-2992000	usd
CY2023Q1	us-gaap	Payments For Repurchase Of Warrants PaymentsForRepurchaseOfWarrants	0	usd
CY2022Q1	us-gaap	Payments For Repurchase Of Warrants PaymentsForRepurchaseOfWarrants	38000	usd
CY2023Q1	us-gaap	Payments For Repurchase Of Common Stock PaymentsForRepurchaseOfCommonStock	0	usd
CY2022Q1	us-gaap	Payments For Repurchase Of Common Stock PaymentsForRepurchaseOfCommonStock	550000	usd
CY2023Q1	us-gaap	Proceeds From Issuance Of Common Stock ProceedsFromIssuanceOfCommonStock	221000	usd
CY2022Q1	us-gaap	Proceeds From Issuance Of Common Stock ProceedsFromIssuanceOfCommonStock	526000	usd
CY2023Q1	us-gaap	Repayments Of Long Term Debt RepaymentsOfLongTermDebt	0	usd
CY2022Q1	us-gaap	Repayments Of Long Term Debt RepaymentsOfLongTermDebt	800000	usd
CY2023Q1	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	221000	usd
CY2022Q1	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	-862000	usd
CY2023Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	-9514000	usd
CY2022Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	-14455000	usd
CY2022Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	110337000	usd
CY2021Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	268252000	usd
CY2023Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	100823000	usd
CY2022Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	253797000	usd
CY2023Q1	us-gaap	Income Taxes Paid Net IncomeTaxesPaidNet	10000	usd
CY2022Q1	us-gaap	Income Taxes Paid Net IncomeTaxesPaidNet	23000	usd
CY2023Q1	us-gaap	Interest Paid Net InterestPaidNet	0	usd
CY2022Q1	us-gaap	Interest Paid Net InterestPaidNet	67000	usd
CY2023Q1	nvts	Shares Issued In Connection With Buyout Agreement SharesIssuedInConnectionWithBuyoutAgreement	22400000	usd
CY2022Q1	nvts	Shares Issued In Connection With Buyout Agreement SharesIssuedInConnectionWithBuyoutAgreement	0	usd
CY2023Q1	us-gaap	Capital Expenditures Incurred But Not Yet Paid CapitalExpendituresIncurredButNotYetPaid	228000	usd
CY2022Q1	us-gaap	Capital Expenditures Incurred But Not Yet Paid CapitalExpendituresIncurredButNotYetPaid	0	usd
CY2023Q1	us-gaap	Use Of Estimates UseOfEstimates	<div style="margin-top:18pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%">Use of Estimates</span></div><div style="margin-top:6pt;text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates.</span></div><div style="margin-top:6pt;text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On an ongoing basis, management evaluates the assumptions used in making estimates, including those related to (i) the collectability of accounts receivable; (ii) write-down for excess and obsolete inventory; (iii) warranty obligations; (iv) the value assigned to and estimated useful lives of long-lived assets; (v) the realization of tax assets and estimates of tax liabilities and tax reserves; (vi) recoverability of intangible assets; (vii) the computation of share-based compensation; (viii) accrued compensation and other expenses; and (ix) the recognition of revenue. These estimates are based on historical data and experience, as well as various other factors that management believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying value of assets and liabilities that are not readily apparent from other sources. The Company engages third-party valuation specialists to assist with estimates related to the valuation of intangible assets, stock options, restricted common stock awards,earnout shares and warrants. Such estimates often require the selection of appropriate valuation methodologies and models, and significant judgment in evaluating ranges of assumptions and financial inputs. Actual results could differ from those estimates.</span></div>
CY2023Q1	us-gaap	Inventory Raw Materials Net Of Reserves InventoryRawMaterialsNetOfReserves	3551000	usd
CY2022Q4	us-gaap	Inventory Raw Materials Net Of Reserves InventoryRawMaterialsNetOfReserves	4314000	usd
CY2023Q1	us-gaap	Inventory Work In Process Net Of Reserves InventoryWorkInProcessNetOfReserves	11609000	usd
CY2022Q4	us-gaap	Inventory Work In Process Net Of Reserves InventoryWorkInProcessNetOfReserves	9166000	usd
CY2023Q1	us-gaap	Inventory Finished Goods Net Of Reserves InventoryFinishedGoodsNetOfReserves	3713000	usd
CY2022Q4	us-gaap	Inventory Finished Goods Net Of Reserves InventoryFinishedGoodsNetOfReserves	5581000	usd
CY2023Q1	us-gaap	Inventory Net InventoryNet	18873000	usd
CY2022Q4	us-gaap	Inventory Net InventoryNet	19061000	usd
CY2023Q1	us-gaap	Property Plant And Equipment Gross PropertyPlantAndEquipmentGross	10382000	usd
CY2022Q4	us-gaap	Property Plant And Equipment Gross PropertyPlantAndEquipmentGross	9520000	usd
CY2023Q1	us-gaap	Accumulated Depreciation Depletion And Amortization Property Plant And Equipment AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment	3542000	usd
CY2022Q4	us-gaap	Accumulated Depreciation Depletion And Amortization Property Plant And Equipment AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment	2988000	usd
CY2023Q1	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	6840000	usd
CY2022Q4	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	6532000	usd
CY2023Q1	us-gaap	Depreciation Depreciation	500000	usd
CY2022Q1	us-gaap	Depreciation Depreciation	100000	usd
CY2023Q1	us-gaap	Intangible Assets Gross Excluding Goodwill IntangibleAssetsGrossExcludingGoodwill	117603000	usd
CY2022Q1	us-gaap	Lease Cost LeaseCost	400000	usd
CY2023Q1	us-gaap	Finite Lived Intangible Assets Accumulated Amortization FiniteLivedIntangibleAssetsAccumulatedAmortization	12034000	usd
CY2023Q1	us-gaap	Intangible Assets Net Excluding Goodwill IntangibleAssetsNetExcludingGoodwill	105569000	usd
CY2022Q4	us-gaap	Intangible Assets Net Excluding Goodwill IntangibleAssetsNetExcludingGoodwill	105620000	usd
CY2023Q1	us-gaap	Finitelived Intangible Assets Acquired1 FinitelivedIntangibleAssetsAcquired1	4485000	usd
CY2023Q1	nvts	Amortization Of Intangibles AmortizationOfIntangibles	4536000	usd
CY2023Q1	us-gaap	Intangible Assets Net Excluding Goodwill IntangibleAssetsNetExcludingGoodwill	105569000	usd
CY2023Q1	us-gaap	Amortization Of Intangible Assets AmortizationOfIntangibleAssets	4500000	usd
CY2022Q1	us-gaap	Amortization Of Intangible Assets AmortizationOfIntangibleAssets	100000	usd
CY2022Q1	us-gaap	Goodwill Impairment Loss GoodwillImpairmentLoss	0	usd
CY2023Q1	us-gaap	Goodwill Impairment Loss GoodwillImpairmentLoss	0	usd
CY2022Q1	us-gaap	Operating Lease Right Of Use Asset OperatingLeaseRightOfUseAsset	1600000	usd
CY2022Q1	us-gaap	Operating Lease Liability OperatingLeaseLiability	1700000	usd
CY2023Q1	us-gaap	Right Of Use Asset Obtained In Exchange For Operating Lease Liability RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability	600000	usd
CY2023Q1	us-gaap	Lease Cost LeaseCost	500000	usd
CY2023Q1	us-gaap	Operating Lease Payments OperatingLeasePayments	454000	usd
CY2022Q1	us-gaap	Operating Lease Payments OperatingLeasePayments	261000	usd
CY2023Q1	us-gaap	Operating Lease Cost OperatingLeaseCost	512000	usd
CY2022Q1	us-gaap	Operating Lease Cost OperatingLeaseCost	263000	usd
CY2023Q1	us-gaap	Right Of Use Asset Obtained In Exchange For Operating Lease Liability RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability	590000	usd
CY2022Q1	us-gaap	Right Of Use Asset Obtained In Exchange For Operating Lease Liability RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability	1391000	usd
CY2023Q1	us-gaap	Operating Lease Weighted Average Remaining Lease Term1 OperatingLeaseWeightedAverageRemainingLeaseTerm1	P4Y11M15D
CY2022Q1	us-gaap	Operating Lease Weighted Average Remaining Lease Term1 OperatingLeaseWeightedAverageRemainingLeaseTerm1	P2Y21D
CY2022Q1	us-gaap	Operating Lease Weighted Average Discount Rate Percent OperatingLeaseWeightedAverageDiscountRatePercent	0.0425
CY2023Q1	us-gaap	Operating Lease Right Of Use Asset OperatingLeaseRightOfUseAsset	6537000	usd
CY2022Q4	us-gaap	Operating Lease Right Of Use Asset OperatingLeaseRightOfUseAsset	6381000	usd
CY2023Q1	us-gaap	Operating Lease Liability Current OperatingLeaseLiabilityCurrent	1477000	usd
CY2022Q4	us-gaap	Operating Lease Liability Current OperatingLeaseLiabilityCurrent	1305000	usd
CY2023Q1	us-gaap	Operating Lease Liability Noncurrent OperatingLeaseLiabilityNoncurrent	5248000	usd
CY2022Q4	us-gaap	Operating Lease Liability Noncurrent OperatingLeaseLiabilityNoncurrent	5263000	usd
CY2023Q1	us-gaap	Operating Lease Liability OperatingLeaseLiability	6725000	usd
CY2022Q4	us-gaap	Operating Lease Liability OperatingLeaseLiability	6568000	usd
CY2023Q1	us-gaap	Lessee Operating Lease Liability Payments Remainder Of Fiscal Year LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear	1422000	usd
CY2023Q1	us-gaap	Lessee Operating Lease Liability Payments Due Next Twelve Months LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths	1532000	usd
CY2023Q1	us-gaap	Lessee Operating Lease Liability Payments Due Year Two LesseeOperatingLeaseLiabilityPaymentsDueYearTwo	1239000	usd
CY2023Q1	us-gaap	Lessee Operating Lease Liability Payments Due Year Three LesseeOperatingLeaseLiabilityPaymentsDueYearThree	1183000	usd
CY2023Q1	us-gaap	Lessee Operating Lease Liability Payments Due Year Four LesseeOperatingLeaseLiabilityPaymentsDueYearFour	1218000	usd
CY2023Q1	nvts	Lessee Operating Lease Liability To Be Paid After Year Four LesseeOperatingLeaseLiabilityToBePaidAfterYearFour	1125000	usd
CY2023Q1	us-gaap	Lessee Operating Lease Liability Payments Due LesseeOperatingLeaseLiabilityPaymentsDue	7719000	usd
CY2023Q1	us-gaap	Lessee Operating Lease Liability Undiscounted Excess Amount LesseeOperatingLeaseLiabilityUndiscountedExcessAmount	994000	usd
CY2023Q1	us-gaap	Operating Lease Liability OperatingLeaseLiability	6725000	usd
CY2021Q4	nvts	Reverse Recapitalization Exchange Ratio ReverseRecapitalizationExchangeRatio	1.0944
CY2023Q1	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Award Requisite Service Period1 ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardRequisiteServicePeriod1	P4Y
CY2023Q1	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	17160000	usd
CY2022Q1	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	25326000	usd
CY2022Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber	6775000	shares
CY2022Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice	0.59
CY2022	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2 SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2	P6Y2M12D
CY2023Q1	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross	0	shares
CY2023Q1	us-gaap	Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice	0
CY2023Q1	us-gaap	Stock Issued During Period Shares Stock Options Exercised StockIssuedDuringPeriodSharesStockOptionsExercised	512000	shares
CY2023Q1	us-gaap	Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice	0.44
CY2023Q1	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod	136000	shares
CY2023Q1	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice	1.06
CY2023Q1	nvts	Share Based Compensation Arrangement By Share Based Payment Award Options Cancelled In Period ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsCancelledInPeriod	0	shares
CY2023Q1	nvts	Share Based Compensation Arrangement By Share Based Payment Award Options Cancelled In Period Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsCancelledInPeriodWeightedAverageExercisePrice	0
CY2023Q1	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber	6127000	shares
CY2023Q1	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice	0.61
CY2023Q1	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2 SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2	P6Y2M12D
CY2023Q1	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber	5015000	shares
CY2023Q1	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice	0.51
CY2023Q1	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1 SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1	P5Y10M24D
CY2022Q1	nvts	Warrant Liability Initial Fair Value WarrantLiabilityInitialFairValue	81400000	usd
CY2022Q1	nvts	Fair Value Warrant Changes In Fair Value Gain Loss FairValueWarrantChangesInFairValueGainLoss	51800000	usd
CY2023Q1	us-gaap	Class Of Warrant Or Right Outstanding ClassOfWarrantOrRightOutstanding	0	shares
CY2021Q4	nvts	Earnout Liability EarnoutLiability	96100000	usd
CY2023Q1	us-gaap	Net Income Loss NetIncomeLoss	-61847000	usd
CY2022Q1	us-gaap	Net Income Loss NetIncomeLoss	79792000	usd
CY2023Q1	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	156792000	shares
CY2022Q1	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	119542000	shares
CY2023Q1	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	156792000	shares
CY2022Q1	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	131149000	shares
CY2023Q1	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-0.39
CY2022Q1	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	0.67
CY2023Q1	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	-0.39
CY2022Q1	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	0.61
CY2023Q1	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	156792000	shares
CY2022Q1	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	119542000	shares
CY2023Q1	nvts	Stock Options And Other Dilutive Awards StockOptionsAndOtherDilutiveAwards	0	shares
CY2022Q1	nvts	Stock Options And Other Dilutive Awards StockOptionsAndOtherDilutiveAwards	11607000	shares
CY2023Q1	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	156792000	shares
CY2022Q1	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	131149000	shares
CY2023Q1	us-gaap	Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount	20126000	shares
CY2022Q1	us-gaap	Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount	21479000	shares
CY2023Q1	us-gaap	Effective Income Tax Rate Continuing Operations EffectiveIncomeTaxRateContinuingOperations	-0.0003
CY2022Q1	us-gaap	Effective Income Tax Rate Continuing Operations EffectiveIncomeTaxRateContinuingOperations	0.000
CY2023Q1	us-gaap	Unrecognized Tax Benefits UnrecognizedTaxBenefits	0	usd
CY2022Q1	us-gaap	Unrecognized Tax Benefits UnrecognizedTaxBenefits	0	usd
CY2022Q1	us-gaap	Unrecognized Tax Benefits Income Tax Penalties And Interest Expense UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense	0	usd
CY2023Q1	us-gaap	Unrecognized Tax Benefits Income Tax Penalties And Interest Expense UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense	0	usd
CY2023Q1	nvts	Employment Agreements Severance Liability Aggregate Payments EmploymentAgreementsSeveranceLiabilityAggregatePayments	2100000	usd

Files In Submission

Name	View Source	Status
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0001821769-23-000090-index.html	Edgar Link	pending
0001821769-23-000090.txt	Edgar Link	pending
0001821769-23-000090-xbrl.zip	Edgar Link	pending
exhibit311-ceo302cert1q2023.htm	Edgar Link	pending
exhibit312-cfo302cert1q2023.htm	Edgar Link	pending
exhibit321-combined906cert.htm	Edgar Link	pending
Financial_Report.xlsx	Edgar Link	pending
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nvts-20230331.htm	Edgar Link	pending
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2023 Q1 Form 10-Q Financial Statement

#000182176923000090 Filed on May 15, 2023

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$NVTS Navitas Semiconductor Corp Stock $nvts

2023 Q1 Form 10-Q Financial Statement

#000182176923000090 Filed on May 15, 2023

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$NVTS
Navitas Semiconductor Corp Stock $nvts