On November 4, Navitas Semiconductor Corp rose 8.06% in Pre-Market Trading, trading at $9.25/share, with turnover of $1.028 million.

The move followed the company’s latest quarterly report, in which third-quarter revenue and adjusted loss both beat consensus, while fourth-quarter guidance also came in above expectations.

Navitas Semiconductor Corp reported third-quarter revenue of $14.0 million, up from $10.1 million a year earlier and above estimates near $13.4 million. Adjusted loss was $0.03 per diluted share, better than the expected $0.04 loss. The company guided fourth-quarter revenue to $15.5 million-$16.5 million, ahead of expectations around $15.1 million. It also indicated adjusted gross margin of about 40.5%, plus or minus 100 basis points, versus 40.0% in the third quarter, while adjusted operating loss narrowed sequentially to $10.9 million from $11.4 million.

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