SEGMENT INFORMATION

12 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

SEGMENT INFORMATION

SEGMENT INFORMATION

Navitas operates as a single operating segment under ASC 280 - Segment Reporting, which establishes requirements for public entities to disclose financial information about operating segments. Under ASC 280, an operating segment is defined as a component of a company that generates revenue and expenses, has discrete financial data available, and is regularly reviewed by the Chief Operating Decision Maker (CODM) to assess performance and allocate resources. The Company's CEO, Gene Sheridan, serves as the CODM, overseeing financial performance and making resource allocation decisions at a consolidated level. The CODM primarily evaluates consolidated net income (loss) as the measure of segment profit or loss. While product-level data is available internally, it is not used for performance evaluation or resource allocation. Additionally, the CODM reviews detailed breakdowns of significant expenses, such as selling, general, and administrative (SG&A) expenses and research and development (R&D) costs, which are already disclosed in the income statement. Below is an overview of the specific items reviewed by the CODM.

	Year Ended December 31,
	2024		2023
NET REVENUES	$	83,302	$	79,456
COST OF REVENUES (exclusive of amortization of intangibles included below)	54,963		48,392
OPERATING EXPENSES:
Stock-based compensation	42,703		54,028
Employee	45,693		39,912
Amortization of intangible assets	18,926		18,820
Other	51,692		36,436
Total operating expenses	$	159,014	$	149,196
Operating loss	$	(130,675)	$	(118,132)
Other income (expense)	41,829		(28,336)
Loss before income taxes	$	(88,846)	$	(146,468)
Income tax benefit	(342)		(517)
Equity method investment gain	3,905		—
Net loss	$	(84,599)	$	(145,951)
Less: net loss attributable to noncontrolling interests	—		(518)
Net loss attributable to controlling interests	$	(84,599)	$	(145,433)