TORRANCE

Navitas Semiconductor Announces First Quarter 2024 Financial Results

Retrieved on: 
Thursday, May 9, 2024
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TORRANCE, Calif., May 09, 2024 (GLOBE NEWSWIRE) -- Navitas Semiconductor (Nasdaq: NVTS), the industry leader in next-generation power semiconductors, today announced unaudited financial results for the first quarter ended March 31, 2024.

Key Points: 
  • TORRANCE, Calif., May 09, 2024 (GLOBE NEWSWIRE) -- Navitas Semiconductor (Nasdaq: NVTS), the industry leader in next-generation power semiconductors, today announced unaudited financial results for the first quarter ended March 31, 2024.
  • On a non-GAAP basis, loss from operations for the quarter was $11.8 million compared to a loss of $12.3 million for the first quarter of 2023.
  • Navitas Q1 2024 Financial Results Conference Call and Webcast Information:
    Toll Free Dial-in: (800) 715-9871 or (646) 307-1963, Conference ID: 4587273
    Our quarterly report on Form 10-Q for the period ended March 31, 2024 is due to be filed with the SEC on May 10, 2024.
  • Each of these non-GAAP financial measures are adjusted from GAAP results to exclude certain expenses which are outlined in the “Reconciliation of GAAP Results to Non-GAAP Financial Measures” tables below.

EY Announces Gene Sheridan of Navitas Semiconductor as an Entrepreneur Of The Year® 2024 Greater Los Angeles Award Finalist

Retrieved on: 
Wednesday, May 8, 2024
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LOS ANGELES, May 08, 2024 (GLOBE NEWSWIRE) -- Ernst & Young LLP (EY US) today announced that Gene Sheridan, CEO and co-founder of Navitas Semiconductor (Nasdaq:NVTS) was named an Entrepreneur Of The Year® 2024 Greater Los Angeles Award finalist.

Key Points: 
  • LOS ANGELES, May 08, 2024 (GLOBE NEWSWIRE) -- Ernst & Young LLP (EY US) today announced that Gene Sheridan, CEO and co-founder of Navitas Semiconductor (Nasdaq:NVTS) was named an Entrepreneur Of The Year® 2024 Greater Los Angeles Award finalist.
  • Now in its 38th year, ‘Entrepreneur Of The Year’ is the preeminent competitive business award for audacious leaders who disrupt markets, revolutionize sectors and have a transformational impact on lives.
  • Over the past four decades, the program has recognized daring entrepreneurs with big ideas and bold actions that reshape our world.
  • In Greater Los Angeles, sponsors also include Edelman, Cooley, Los Angeles Business Journal, Vaco, ADP, and Rutan & Tucker.

Sling Pilot Academy and the City of Torrance Settle Business License Dispute

Retrieved on: 
Sunday, April 28, 2024
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TORRANCE, Calif., April 28, 2024 /PRNewswire/ -- Sling Pilot Academy , a premier flight training institution located in Torrance, CA, and the City of Torrance have settled a dispute in State Court over Sling's business license.

Key Points: 
  • TORRANCE, Calif., April 28, 2024 /PRNewswire/ -- Sling Pilot Academy , a premier flight training institution located in Torrance, CA, and the City of Torrance have settled a dispute in State Court over Sling's business license.
  • In October 2023 Sling received a letter from the City of Torrance saying that Sling's business license would not be renewed in 2024 due to a never-enforced 1977 resolution limiting the number of flight schools at Torrance Airport.
  • The day before, the City of Torrance City Council voted to enact an Ordinance and Urgency Ordinance limiting the number of flight schools at Torrance Airport to 6 flight schools.
  • Sling Pilot Academy remains committed to working with the City of Torrance and the residents surrounding the airport.

Criminal IP Collaborates with Sumo Logic for Enriching Threat Intelligence Data

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Monday, April 22, 2024
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This technology partnership extends Criminal IP's data and technology to Sumo Logic products: Sumo Logic Cloud SIEM, Sumo Logic Cloud SOAR, and Sumo Logic Threat Intelligence.

Key Points: 
  • This technology partnership extends Criminal IP's data and technology to Sumo Logic products: Sumo Logic Cloud SIEM, Sumo Logic Cloud SOAR, and Sumo Logic Threat Intelligence.
  • In this technological partnership, Criminal IP will contribute by enriching threat intelligence data for Sumo Logic products.
  • Criminal IP integrated with Sumo Logic SOAR, following Sumo Logic SIEM
    To view an enhanced version of this graphic, please visit:
    The first integration developed out of this collaboration is the integration of Criminal IP with the Sumo Logic Cloud SIEM platform.
  • For the latest news and editorial content, please visit the official websites of Criminal IP and Sumo Logic .

The Lundquist Institute Receives $2.6 Million Grant from U.S. Army Medical Research Acquisition Activity to Develop Wearable Biosensors

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Thursday, April 25, 2024
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Torrance, California, April 24, 2024 (GLOBE NEWSWIRE) -- The U.S. Army Medical Research Acquisition Activity (USAMRAA) has awarded The Lundquist Institute (TLI) a four-year grant totaling $2,623,234.

Key Points: 
  • Torrance, California, April 24, 2024 (GLOBE NEWSWIRE) -- The U.S. Army Medical Research Acquisition Activity (USAMRAA) has awarded The Lundquist Institute (TLI) a four-year grant totaling $2,623,234.
  • The research project is led by Dr. Harry Rossiter, an investigator at TLI and Professor at the David Geffen School of Medicine at UCLA.
  • The project aims to develop wearable multiplex biosensors to monitor exacerbation risk in chronic obstructive pulmonary disease (COPD).
  • COPD affects approximately 16 million Americans and is the third leading cause of death globally.

Navitas Highlights EV High-speed Hybrid Power Semiconductor Advances in China Innovation Summit Keynote

Retrieved on: 
Thursday, April 25, 2024
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The summit gathers key players in power semiconductors and associated customer design teams for innovations in EV such as 800 V supercharging, battery management, intelligent connected vehicle electronics, and high-power digital power supplies.

Key Points: 
  • The summit gathers key players in power semiconductors and associated customer design teams for innovations in EV such as 800 V supercharging, battery management, intelligent connected vehicle electronics, and high-power digital power supplies.
  • Navitas’ GaNFast power ICs integrate GaN power and drive with control, sensing, and protection to enable faster charging, higher power density, greater energy savings and system cost reduction.
  • “Navitas’ leading GaN and SiC technology will enable faster charging, longer-range and more environmentally friendly power systems for EV.
  • These improvements not only significantly enhance product performance but also effectively shorten time-to-market.”
    The China Electronic Hotspot Solutions Innovation Summit will be held on April 27th, 2024, at Crowne Plaza, Nanshan District, Shenzhen.

Navitas Semiconductor to Report Q1 2024 Financial Results on Thursday, May 9th, 2024

Retrieved on: 
Wednesday, April 24, 2024
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TORRANCE, Calif., April 24, 2024 (GLOBE NEWSWIRE) -- Navitas Semiconductor (Nasdaq: NVTS), the only pure-play, next-generation power semiconductor company and industry leader in GaN power ICs and SiC technology, today announced that it will report first quarter 2024 financial results after the market close on Thursday, May 9th, 2024.

Key Points: 
  • TORRANCE, Calif., April 24, 2024 (GLOBE NEWSWIRE) -- Navitas Semiconductor (Nasdaq: NVTS), the only pure-play, next-generation power semiconductor company and industry leader in GaN power ICs and SiC technology, today announced that it will report first quarter 2024 financial results after the market close on Thursday, May 9th, 2024.
  • Management will host a conference call and live webcast to present the company's financial results and answer questions from the financial analyst community at 2:00 p.m. Pacific / 5:00 p.m. Eastern that same evening.
  • Navitas Q1 2024 Financial Results Conference Call and Webcast Information:
    Toll Free Dial-in: (800) 715-9871 or (646) 307-1963, Conference ID: 4587273

Navitas & Virtual Forest Join Hands to Advance Net-Zero in Agriculture

Retrieved on: 
Thursday, April 18, 2024
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The Virtual Forest solar pump with maximum power point tracking (MPPT) operates in conjunction with solar panel and energy storage to provide robust, energy-independent, and pollution-free performance at the point of use.

Key Points: 
  • The Virtual Forest solar pump with maximum power point tracking (MPPT) operates in conjunction with solar panel and energy storage to provide robust, energy-independent, and pollution-free performance at the point of use.
  • Navitas GaNSense™ half-bridge power ICs monolithically by integrating two GaN power FETs with GaN drivers, level-shifters, protection features and high-efficiency loss-less current sensing.
  • Hence, our name — Virtual Forest.”
    “The design team at Virtual Forest adopted the GaNSense half-bridges very quickly, for a fast time-to-market,” said Alessandro Squeri, Navitas’ Senior Sales Director.
  • “With GaNSense 'easy-to-use' features, Virtual Forest comes into the partnership with high efficiency, low component count and a robust design for tough environments.”

QFunction: Cybersecurity Company Announces Launch of Customized AI Solutions

Retrieved on: 
Friday, April 12, 2024
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QFunction is excited to announce the launch of its tailored cybersecurity solutions that help medium to large sized businesses and CISOs protect their data, assets, and reputation from cyber threats and attacks by leveraging the power of AI.

Key Points: 
  • QFunction is excited to announce the launch of its tailored cybersecurity solutions that help medium to large sized businesses and CISOs protect their data, assets, and reputation from cyber threats and attacks by leveraging the power of AI.
  • With the ongoing increase of cybersecurity attacks, highlighted by recent data showing that nearly half a billion ransomware attacks occurred in 2022 and averaged at 1.5 million dollars, QFunction provides customized cybersecurity solutions for clients, reducing the noise, volume of alerts, and false positives that normally result from traditional cybersecurity tooling.
  • These solutions include:
    Threat Hunting: Traditional reactive security measures often struggle to detect advanced threats.
  • QFunction’s innovative security solutions remove the need to deploy entirely new AI enhanced cybersecurity software in client organizations and instead focus on better utilizing the client’s existing cybersecurity tooling and data, eliminating the need to learn new tools or interfaces.

Virco Reports Full Year Revenue Increased 16.5% to $269.1 million, delivering 32.4% growth in Net Income

Retrieved on: 
Friday, April 12, 2024
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Net revenue for the full year ended January 31, 2024 increased 16.5% to $269.1 million from $231.1 million in the prior year.

Key Points: 
  • Net revenue for the full year ended January 31, 2024 increased 16.5% to $269.1 million from $231.1 million in the prior year.
  • For the seasonally light fourth quarter, revenue increased 9.8% to $42.6 million from $38.8 million.
  • Operating Income for the full year ended January 31, 2024 was $31.9 million compared to $10.6 million the prior year.
  • Total Net Income after taxes for the full year was $21.9 million compared to $16.5 million the prior year.