Net revenues for 2025 decreased by 45% to $45.9 million from $83.3 million in 2024, primarily due to a decline in mobile and consumer markets in China. Net loss for 2025 increased to $117.0 million from $84.6 million in 2024. The company executed a "Navitas 2.0 Restructuring Plan" in Q4 2025, focusing on high-power markets (AI data centers, energy and grid infrastructure, performance computing, industrial electrification) and de-emphasizing mobile and consumer products. Restructuring and impairment expenses totaled $18.0 million in 2025, including $16.6 million for Navitas 2.0 and $1.4 million for the 2025 Restructuring Plan. Successfully raised $200.0 million through a private placement (PIPE) and At-The-Market (ATM) offerings in 2025. Cash and cash equivalents increased by 173% to $236.9 million as of December 31, 2025, from $86.7 million in 2024, largely due to capital raises. Remediated previously identified material weaknesses in internal control over financial reporting as of December 31, 2025. TSMC announced its intention to cease GaN production in July 2027, prompting Navitas to expand collaborations with Powerchip Semiconductor Manufacturing Corporation and GlobalFoundries. Shipped over 300 million GaN devices and nearly 30 million SiC devices as of December 31, 2025. Maintains a patent portfolio of over 300 issued or pending patents worldwide, including a cross-license with Infineon Technologies AG in October 2024. Estimates each GaN power IC saves a net 4 kg of CO2 emissions, and each SiC MOSFET saves 25 kg, projecting an aggregate of 6 Gigatons of CO2 savings by 2050.