Navitas Semiconductor Corp (NVTS) experienced a significant 15.92% plunge in its stock price during the 24-hour period on Monday, February 24, 2025, according to the provided tag.

The primary reasons behind this sharp decline can be attributed to the company's disappointing fourth-quarter financial results and the impact of a distributor disengagement.

In its Q4 2024 earnings report, Navitas Semiconductor missed analysts' revenue estimates, generating $17.98 million in revenue compared to the expected $19.02 million. While the company met earnings per share expectations, the revenue miss raised concerns among investors, contributing to the stock's sell-off.

Additionally, the company disclosed that it had disengaged from a distributor, which resulted in several significant one-time charges and operational disruptions. These included a $6.64 million bad debt expense, a $5.01 million inventory reserve, and the abandonment of certain research and development projects worth $1.67 million. These charges, combined with the revenue shortfall, weighed heavily on Navitas Semiconductor's overall performance and profitability during the quarter.

Furthermore, the company announced a restructuring plan, incurring a $1.22 million expense, as it aims to streamline operations and accelerate its path to profitability in the wake of the distributor disengagement.