Navitas Semiconductor Files 2023 Annual Report Amendment
Ticker: NVTS · Form: 10-K/A · Filed: Jul 23, 2024 · CIK: 1821769
| Field | Detail |
|---|---|
| Company | Navitas Semiconductor CORP (NVTS) |
| Form Type | 10-K/A |
| Filed Date | Jul 23, 2024 |
| Risk Level | low |
| Pages | 15 |
| Reading Time | 19 min |
| Key Dollar Amounts | $0.0001, $23.7 million, $37.9 million, $79.5 million |
| Sentiment | neutral |
Sentiment: neutral
Topics: amendment, annual-report, semiconductors
TL;DR
Navitas filed an update to its 2023 10-K. Check for new details.
AI Summary
Navitas Semiconductor Corp filed an amendment (10-K/A) to its annual report for the fiscal year ending December 31, 2023. This filing, dated July 23, 2024, provides updated information and disclosures. The company, previously known as Live Oak Acquisition Corp II, is incorporated in Delaware and operates in the semiconductors & related devices industry.
Why It Matters
This amended filing provides updated financial and operational details for Navitas Semiconductor, which is crucial for investors and stakeholders to assess the company's performance and outlook.
Risk Assessment
Risk Level: low — This is an amendment to a previously filed annual report, typically for corrections or additional disclosures, not a new material event.
Key Players & Entities
- Navitas Semiconductor Corp (company) — Filer of the 10-K/A
- Live Oak Acquisition Corp II (company) — Former name of Navitas Semiconductor Corp
- 20231231 (date) — Fiscal year end for the report
- 20240723 (date) — Filing date of the amendment
FAQ
What is the primary purpose of this 10-K/A filing?
This 10-K/A filing is an amendment to the annual report for the fiscal year ended December 31, 2023, filed by Navitas Semiconductor Corp.
When was this amended annual report filed?
The amended annual report (10-K/A) was filed on July 23, 2024.
What was Navitas Semiconductor Corp's former name?
Navitas Semiconductor Corp was formerly known as Live Oak Acquisition Corp II.
In which state is Navitas Semiconductor Corp incorporated?
Navitas Semiconductor Corp is incorporated in Delaware (DE).
What is Navitas Semiconductor Corp's primary industry classification?
Navitas Semiconductor Corp is classified under SEMICONDUCTORS & RELATED DEVICES [3674].
Filing Stats: 4,649 words · 19 min read · ~15 pages · Grade level 17.7 · Accepted 2024-07-23 16:58:55
Key Financial Figures
- $0.0001 — tered Class A Common Stock, par value $0.0001 per share NVTS Nasdaq Stock Market LLC
- $23.7 million — eased from zero in fiscal year 2017, to $23.7 million in fiscal year 2021, to $37.9 million i
- $37.9 million — o $23.7 million in fiscal year 2021, to $37.9 million in fiscal year 2022, and to $79.5 milli
- $79.5 million — 7.9 million in fiscal year 2022, and to $79.5 million in fiscal year 2023. We may not achieve
Filing Documents
- nvts-20231231.htm (10-K/A) — 1339KB
- exhibit231-consentofmossad.htm (EX-23.1) — 3KB
- exhibit232-consentofdeloit.htm (EX-23.2) — 2KB
- exhibit311-ceo302cert10xka.htm (EX-31.1) — 11KB
- exhibit312-cfo302cert10xka.htm (EX-31.2) — 11KB
- exhibit321-combined906cert.htm (EX-32.1) — 6KB
- 0001821769-24-000088.txt ( ) — 9046KB
- nvts-20231231.xsd (EX-101.SCH) — 69KB
- nvts-20231231_cal.xml (EX-101.CAL) — 111KB
- nvts-20231231_def.xml (EX-101.DEF) — 430KB
- nvts-20231231_lab.xml (EX-101.LAB) — 789KB
- nvts-20231231_pre.xml (EX-101.PRE) — 647KB
- nvts-20231231_htm.xml (XML) — 1209KB
Risk Factors
Risk Factors 1 Part II Item 8.
Financial Statements and Supplementary Data
Financial Statements and Supplementary Data F-1 Item 9A.
Controls and Procedures
Controls and Procedures 61 PART IV Item 15. Exhibits, Financial Statement Schedules 62 Exhibit Index 63 S ignature s 66 (ii) TABLE OF CONTENTS Part I
Risk Factors
Item 1A. Risk Factors. Risk Related to Our Business and Operations Our success and future revenue depends on our ability to achieve design wins and to convince our current and prospective end customers to design our products into their product offerings. If we do not continue to win designs or our products are not designed into our end customers' product offerings, our results of operations and business will be harmed. We sell our power chips to end customers who select our solutions for inclusion in their product offerings. This selection process is typically lengthy and may require us to incur significant design and development expenditures and dedicate scarce engineering resources in pursuit of a single design win, with no assurance that our solutions will be selected. If we fail to convince our current or prospective end customers to include our products in their product offerings or to achieve a consistent number of design wins, our business, financial condition, and results of operations will be harmed. Because of our extended sales cycle, our revenue in future years is highly dependent on design wins we are awarded in prior years. It is typical that a design win will not result in meaningful revenue for one year or more or later, if at all. If we do not continue to achieve design wins in the short term, our revenue in the following years will deteriorate. Further, a significant portion of our revenue in any period may depend on a single product design win with a large customer. As a result, the loss of any key design win or any significant delay in the ramp of volume production of the customer's products into which our product is designed could adversely affect our business, financial condition, and results of operations. We may not be able to maintain sales to our key end customers or continue to secure key design wins for a variety of reasons, and our end customers can stop incorporating our products into their product offerings with limited notice to