Navitas Licenses High-Voltage SiC Technology to Magnachip While Q2 Revenue Sits 27% Below Last Year

Navitas Semiconductor has licensed its high-voltage silicon carbide platform to Magnachip Semiconductor, handing a Korean chipmaker the device technology Navitas calls central to its own grid business. The two companies announced the agreement on July 23, 2026, from Torrance, California and Seoul. The license covers GeneSiC Trench-Assisted Planar technology at 1,200 V, 2,300 V, 3,300 V and above. Magnachip also gets access to the Navitas silicon carbide supply chain and materials ecosystem. Navitas booked $10.5 million of revenue in the second quarter of 2026, against $14.5 million in the same quarter a year earlier.

Why It Matters

Medium-voltage power electronics sit directly under the data center buildout. Above 3,300 V, silicon carbide devices displace silicon IGBTs in grid-scale converters and traction drives. A higher blocking voltage per device cuts the number of parts a designer must stack in series. Buyers of that hardware now gain a second qualified source in Korea instead of one. Navitas gets license revenue without building the fab capacity itself. It also gives a manufacturer with its own foundry the recipe for the parts Navitas says will carry its next three years.

What the License Covers

The agreement grants Magnachip the GeneSiC Gen 4 and Gen 5 platforms. Navitas acquired the GeneSiC line when it bought GeneSiC Semiconductor in August 2022. It introduced the Gen 5 platform in February 2026. Magnachip plans to port, qualify and internalize the technology at its own fab in South Korea. Both companies say the deal extends past silicon carbide, and they have not said how far. Neither disclosed the license fee, the royalty rate, or the term.

The Financial Backdrop

The timing is the part worth reading closely. Navitas reported second-quarter revenue of $10.5 million on July 27, four days after the Magnachip announcement. That figure grew 22% from the first quarter but sits 27% below the second quarter of 2025. GAAP gross margin came in at 0.4%. On a non-GAAP basis it reached 39.5%. The company posted a GAAP net loss of $228.2 million, and $203.1 million of that was a non-cash charge from a final earnout remeasurement. Non-GAAP operating loss was $11.4 million. Navitas held $557.4 million in cash at quarter end, so this is not a liquidity story.

Management guided third-quarter revenue to about $13.5 million. It told investors that high-power markets grew more than 50% year over year, and that AI data centers plus grid and energy infrastructure would pass one third of total sales by the end of 2026. Navitas has substantially exited the mobile market to concentrate on those high-power lines. Licensing the high-voltage platform to another manufacturer while making that bet is a deliberate trade. It converts technology into near-term income and gives up some of the exclusivity that made the bet attractive.

Sources

• Navitas and Magnachip partnership announcement (GlobeNewswire)
• Charged EVs
• Navitas Semiconductor Q2 2026 Financial Results
• Investing.com
• Magnachip Semiconductor investor relations

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