Navitas achieves significant revenue growth

This marks Navitas' second consecutive appearance on the list, rising from 75th to 72nd place. This progress is driven by increased revenue due to the strong demand for its efficient, wide bandgap (WBG) gallium nitride (GaN) and silicon carbide (SiC) power components, which are becoming increasingly popular across a variety 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. Navitas recorded a 2,129% growth in revenue from 2019 to 2022, as GaN and SiC technology proved effective in enabling sustainable applications, replacing legacy silicon chips.

Gene Sheridan, founder and CEO of Navitas, shared his thoughts on the company's achievement: “Our next-gen power-semiconductor technologies are creating significant growth opportunities as we displace silicon in existing multi-billion-dollar markets like data centres, 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 three to five times capacity increases, technology generational upgrades every 12-18 months, and a customer-focused, complete power-system design centre approach, for applications from 20W to 20MW addressing a £22 billion per year opportunity.”