Navitas Semiconductor Corp's stock fell 5.93% over a 24-hour period, with significant pressure emerging in after-hours trading following the release of its first-quarter 2026 financial results.

The company reported a quarterly net loss of $33.79 million, or $0.15 per share, which widened from a loss of $0.06 per share in the same period last year. While adjusted EPS of $(0.04) and revenue of $8.598 million beat analyst estimates, sales fell 38.66% year-over-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. Although the company noted sequential revenue growth of 18% and a strategic shift toward high-power markets like AI data centers, the substantial losses and declining annual revenue appear to have driven the sell-off.