โ
๐ ๐๐๐ฌ๐ฎ๐ฅ๐ญ๐ฌ
โข Revenue: $14.0M (+38% YoY; +33% QoQ)
โข GAAP Net Loss: $37.1M vs. $19.2M YoY
โข Non-GAAP Net Loss: $6.9M vs. $10.2M YoY
โข GAAP Operating Loss: $34.4M vs. $19.4M YoY
โข Non-GAAP Operating Loss: $10.9M vs. $11.5M YoY
โข GAAP Gross Margin: 21.5% vs. -2.0% YoY and 0.4% QoQ
โข Non-GAAP Gross Margin: 40.0% vs. 38.7% YoY
โ
๐ฏ ๐๐ฎ๐ข๐๐๐ง๐๐ (๐๐ ๐๐๐๐)
โข Revenue: $15.5Mโ$16.5M (+14% QoQ; +119% YoY at midpoint)
โข Non-GAAP Gross Margin: 39.5%โ41.5%
โข Non-GAAP Operating Expenses: $24Mโ$26M
โข FY26 Revenue Growth: ~7% at Q4 guidance midpoint
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๐ ๐๐๐ฒ ๐๐๐ค๐๐๐ฐ๐๐ฒ๐ฌ
โข High-power market revenue grew over 50% sequentially, driving the company's first YoY revenue growth since 2024
โข AI infrastructure, including data centers and energy grids, expected to exceed 40% of total revenue by year-end
โข High-power markets expected to grow ~125% for FY26, offsetting the exit from mobile and low-end consumer markets
โข Book-to-bill ratio well above 1.0, with record backlog extending into mid-2027
โข Completed Claros acquisition, adding integrated voltage regulation (IVR) for AI power delivery
โข Collaborating with NVIDIA on 800V-to-12V power delivery boards for next-generation AI infrastructure
โข Partnered with Microchip on 800V reference designs for high-power AI data centers
โข Selected by U.S. government to develop next-generation 10kV SiC power semiconductors
โข Began shipping Gen 5 GaNFast devices manufactured by GlobalFoundries in the U.S.
โข Strategic partnership with Magnachip to expand high-voltage SiC adoption
โข Cash & Equivalents: $531.5M vs. $236.9M at year-end 2025
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๐ฌ ๐๐๐ง๐๐ ๐๐ฆ๐๐ง๐ญ ๐๐จ๐ฆ๐ฆ๐๐ง๐ญ๐๐ซ๐ฒ
โPower is rapidly becoming the single largest constraint to the growth of AI compute, making efficiency the critical enabler of increased capacity.โ โ CEO Chris Allexandre