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Side-by-side financial comparison of Navitas Semiconductor Corp (NVTS) and SES AI Corp (SES). Click either name above to swap in a different company.
Navitas Semiconductor Corp is the larger business by last-quarter revenue ($7.3M vs $4.6M, roughly 1.6× SES AI Corp). SES AI Corp runs the higher net margin — -373.5% vs -436.1%, a 62.6% gap on every dollar of revenue. Navitas Semiconductor Corp produced more free cash flow last quarter ($-8.2M vs $-11.1M).
Navitas Semiconductor Corp is a leading global semiconductor firm specializing in gallium nitride (GaN) power integrated circuits. Its high-efficiency, compact power solutions serve consumer electronics, electric vehicles, renewable energy, and industrial sectors, with clients spanning North America, Asia, and Europe.
SES S.A. is a Luxembourgish communications satellite operator supplying video and data connectivity worldwide to broadcasters, content and internet service providers, mobile and fixed network operators, governments and institutions.
NVTS vs SES — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $7.3M | $4.6M |
| Net Profit | $-31.8M | $-17.0M |
| Gross Margin | 38.1% | 11.3% |
| Operating Margin | -567.3% | -387.7% |
| Net Margin | -436.1% | -373.5% |
| Revenue YoY | -59.4% | — |
| Net Profit YoY | 20.2% | 50.7% |
| EPS (diluted) | $-0.14 | $-0.05 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $7.3M | $4.6M | ||
| Q3 25 | $10.1M | $7.1M | ||
| Q2 25 | $14.5M | $3.5M | ||
| Q1 25 | $14.0M | $5.8M | ||
| Q4 24 | $18.0M | — | ||
| Q3 24 | $21.7M | — | ||
| Q2 24 | $20.5M | — | ||
| Q1 24 | $23.2M | — |
| Q4 25 | $-31.8M | $-17.0M | ||
| Q3 25 | $-19.2M | $-20.9M | ||
| Q2 25 | $-49.1M | $-22.7M | ||
| Q1 25 | $-16.8M | $-12.4M | ||
| Q4 24 | $-39.9M | — | ||
| Q3 24 | $-18.7M | — | ||
| Q2 24 | $-22.3M | — | ||
| Q1 24 | $-3.7M | — |
| Q4 25 | 38.1% | 11.3% | ||
| Q3 25 | 37.9% | 51.1% | ||
| Q2 25 | 16.1% | 73.7% | ||
| Q1 25 | 37.9% | 78.7% | ||
| Q4 24 | 12.4% | — | ||
| Q3 24 | 39.7% | — | ||
| Q2 24 | 39.0% | — | ||
| Q1 24 | 41.1% | — |
| Q4 25 | -567.3% | -387.7% | ||
| Q3 25 | -192.0% | -262.0% | ||
| Q2 25 | -149.4% | -652.3% | ||
| Q1 25 | -180.5% | -401.7% | ||
| Q4 24 | -216.9% | — | ||
| Q3 24 | -133.6% | — | ||
| Q2 24 | -152.1% | — | ||
| Q1 24 | -136.2% | — |
| Q4 25 | -436.1% | -373.5% | ||
| Q3 25 | -190.2% | -293.9% | ||
| Q2 25 | -338.7% | -642.2% | ||
| Q1 25 | -120.1% | -214.6% | ||
| Q4 24 | -221.7% | — | ||
| Q3 24 | -86.4% | — | ||
| Q2 24 | -109.1% | — | ||
| Q1 24 | -15.9% | — |
| Q4 25 | $-0.14 | $-0.05 | ||
| Q3 25 | $-0.09 | $-0.06 | ||
| Q2 25 | $-0.25 | $-0.07 | ||
| Q1 25 | $-0.09 | $-0.04 | ||
| Q4 24 | $-0.22 | — | ||
| Q3 24 | $-0.10 | — | ||
| Q2 24 | $-0.12 | — | ||
| Q1 24 | $-0.02 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $236.9M | $29.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $443.7M | $214.8M |
| Total Assets | $500.5M | $272.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $236.9M | $29.5M | ||
| Q3 25 | $150.6M | $35.3M | ||
| Q2 25 | $161.2M | $11.8M | ||
| Q1 25 | $75.1M | $56.1M | ||
| Q4 24 | $86.7M | — | ||
| Q3 24 | $98.3M | — | ||
| Q2 24 | $111.7M | — | ||
| Q1 24 | $128.9M | — |
| Q4 25 | $443.7M | $214.8M | ||
| Q3 25 | $371.0M | $228.2M | ||
| Q2 25 | $388.9M | $249.2M | ||
| Q1 25 | $341.8M | $269.9M | ||
| Q4 24 | $348.0M | — | ||
| Q3 24 | $380.8M | — | ||
| Q2 24 | $388.1M | — | ||
| Q1 24 | $397.9M | — |
| Q4 25 | $500.5M | $272.6M | ||
| Q3 25 | $430.2M | $288.8M | ||
| Q2 25 | $449.4M | $290.5M | ||
| Q1 25 | $370.8M | $306.0M | ||
| Q4 24 | $390.0M | — | ||
| Q3 24 | $419.4M | — | ||
| Q2 24 | $439.1M | — | ||
| Q1 24 | $467.9M | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-8.1M | $-10.4M |
| Free Cash FlowOCF − Capex | $-8.2M | $-11.1M |
| FCF MarginFCF / Revenue | -111.8% | -243.7% |
| Capex IntensityCapex / Revenue | 0.7% | 15.6% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-44.4M | $-61.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-8.1M | $-10.4M | ||
| Q3 25 | $-10.0M | $-14.3M | ||
| Q2 25 | $-11.2M | $-10.8M | ||
| Q1 25 | $-13.5M | $-22.8M | ||
| Q4 24 | $-10.2M | — | ||
| Q3 24 | $-13.7M | — | ||
| Q2 24 | $-15.1M | — | ||
| Q1 24 | $-19.8M | — |
| Q4 25 | $-8.2M | $-11.1M | ||
| Q3 25 | $-10.7M | $-14.7M | ||
| Q2 25 | $-11.9M | $-11.6M | ||
| Q1 25 | $-13.6M | $-23.7M | ||
| Q4 24 | $-10.8M | — | ||
| Q3 24 | $-14.3M | — | ||
| Q2 24 | $-17.9M | — | ||
| Q1 24 | $-22.7M | — |
| Q4 25 | -111.8% | -243.7% | ||
| Q3 25 | -106.1% | -206.9% | ||
| Q2 25 | -82.2% | -329.6% | ||
| Q1 25 | -96.8% | -410.0% | ||
| Q4 24 | -59.8% | — | ||
| Q3 24 | -65.9% | — | ||
| Q2 24 | -87.3% | — | ||
| Q1 24 | -97.9% | — |
| Q4 25 | 0.7% | 15.6% | ||
| Q3 25 | 7.0% | 6.0% | ||
| Q2 25 | 4.7% | 22.8% | ||
| Q1 25 | 0.3% | 15.8% | ||
| Q4 24 | 3.1% | — | ||
| Q3 24 | 2.6% | — | ||
| Q2 24 | 13.4% | — | ||
| Q1 24 | 12.5% | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
