NVTS Q3 2026 revenue $14.0 million, Beat Guidance by +$0.5M
NVTS beat prior Q3 2026 revenue guidance by +$0.5M. Non-GAAP gross margin of 40.0% came in above the guided midpoint of 39.7%, while non-GAAP operating expenses of $16.5 million matched the midpoint of prior guidance. Revenue grew 33% sequentially and 38% year-over-year, marking the first quarter of year-over-year growth since 2024. For Q4 2026, the company guides revenue of $16.0 million, plus or minus $0.5 million, representing 14% sequential growth and 119% year-over-year growth at the midpoint, with full-yea...
Guidance comparison
Forward guidance
Key takeaways
Revenue: Q3 2026 revenue of $14.0 million beat prior guidance midpoint of $13.5 million; 33% sequential growth and 38% year-over-year growth, the first YoY growth quarter since 2024
Gross margin: Non-GAAP gross margin of 40.0% exceeded the guided midpoint of 39.7% and marked another quarter of sequential gross margin expansion
Operating expenses: Non-GAAP operating expenses of $16.5 million matched the guided midpoint; Q4 guidance includes Claros operational expenses at $25.0 million +/- $1.0 million
Business transformation: Mobile and low-end consumer revenue expected to be essentially eliminated by year-end, with AI Infrastructure (AI Data Centers and Energy & Grid Infrastructure) projected to exceed 40% of total revenue in Q4 2026
High-power markets: Revenue from high-power markets grew more than 50% sequentially in Q3 and is expected to grow 125% year-over-year for full-year 2026
Cash position: Cash and cash equivalents were $531.5 million as of September 30, 2026, compared to $236.9 million as of December 31, 2025
Recent acquisition: Closed acquisition of Claros on October 6, 2026, advancing the grid-to-xPU strategy with IVR technology stack
Key metrics
Primary source
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