Navitas Semiconductor Corp
For the period ended Sep 30, 2024. Filed Nov 5, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 5, 2024
NVTS$9.58+11.3%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Balance Sheets as of September 30, 2024 and December 31, 2023 and
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited)
| (In thousands, except shares and par value) | September 30, 2024 | December 31, 2023 |
|---|---|---|
| ASSETS | ||
| CURRENT ASSETS: | ||
| Cash and cash equivalents | $98,614 | $152,839 |
| Accounts receivable, net of allowance of $211 and $0, respectively | 21,091 | 25,858 |
| Inventories | 21,284 | 22,234 |
| Prepaid expenses and other current assets | 4,161 | 6,178 |
| Total current assets | 145,150 | 207,109 |
| ACCOUNTS RECEIVABLE NONCURRENT, net of allowance of $773 and $0, respectively | 5,211 | — |
| PROPERTY AND EQUIPMENT, net | 13,057 | 9,154 |
| OPERATING LEASE RIGHT OF USE ASSETS | 7,266 | 8,268 |
| INTANGIBLE ASSETS, net | 76,856 | 91,099 |
| GOODWILL | 163,215 | 163,215 |
| OTHER ASSETS | 8,654 | 6,701 |
| Total assets | $419,409 | $485,546 |
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||
| CURRENT LIABILITIES: | ||
| Accounts payable and other accrued expenses | $13,593 | $24,740 |
| Accrued compensation expenses | 8,497 | 10,902 |
| Operating lease liabilities, current | 1,868 | 1,892 |
| Customer deposit and deferred revenue | 2,006 | 10,953 |
| Total current liabilities | 25,964 | 48,487 |
| OPERATING LEASE LIABILITIES NONCURRENT | 5,993 | 6,653 |
| EARNOUT LIABILITY | 3,932 | 46,852 |
| DEFERRED TAX LIABILITIES | 1,040 | 1,040 |
| ACCRUED ROYALTIES NONCURRENT | 1,652 | 1,897 |
| Total liabilities | 38,581 | 104,929 |
| COMMITMENTS AND CONTINGENCIES (Note 14) | ||
| STOCKHOLDERS’ EQUITY: | ||
| Class A common stock, $0.0001 par value, 750,000,000 shares authorized as of September 30, 2024 and December 31, 2023, and 186,788,292 and 179,196,418 shares issued and outstanding at September 30, 2024 and December 31, 2023, respectively | 22 | 21 |
| Class B common stock, $0.0001 par value, 10,000,000 shares authorized as of September 30, 2024 and December 31, 2023, and 0 shares issued and outstanding at both September 30, 2024 and December 31, 2023 | — | — |
| Additional paid-in capital | 725,739 | 680,790 |
| Accumulated other comprehensive loss | (7) | (7) |
| Accumulated deficit | (344,926) | (300,187) |
| Total stockholders’ equity | 380,828 | 380,617 |
| Total liabilities and stockholders’ equity | $419,409 | $485,546 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.