Navitas Semiconductor Corporation reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported sales was USD 26.06 million compared to USD 12.35 million a year ago. Net loss was USD 32.58 million compared to USD 7.13 million a year ago. Basic loss per share from continuing operations was USD 0.18 compared to USD 0.05 a year ago. Diluted loss per share from continuing operations was USD 0.18 compared to USD 0.05 a year ago.
For the full year, sales was USD 79.46 million compared to USD 37.94 million a year ago. Net loss was USD 145.43 million compared to net income of USD 73.91 million a year ago. Basic loss per share from continuing operations was USD 0.86 compared to basic earnings per share from continuing operations of USD 0.55 a year ago. Diluted loss per share from continuing operations was USD 0.86 compared to diluted earnings per share from continuing operations of USD 0.51 a year ago.