Navitas Semiconductor Corp's stock fell 5.13% in after-hours trading following the release of its first-quarter 2026 financial results, which revealed a widening net loss and a significant year-over-year revenue drop despite beating analyst estimates.

The company reported a quarterly net loss of $33.79 million, or $0.15 per share, compared to a loss of $0.06 per share in the same period last year. While adjusted EPS of $(0.04) beat the consensus estimate of $(0.05), and revenue of $8.598 million surpassed the $8.173 million forecast, sales fell 38.66% from the prior year. The GAAP gross margin remained negative at -9.3%, and operating expenses were high at $31.003 million.

Market sentiment was further weighed down by persistent concerns over demand in the AI industry supply chain, as highlighted in recent market alerts. Although the company noted sequential revenue growth and a strategic shift toward high-power markets like AI data centers, the substantial losses and declining annual revenue appear to have driven the after-hours sell-off.