Yes it is, you can see it on the Switch logo in the top left corner of the game case.

However, Nintendo has made a few adjustments between the Switch and the Switch Lite.
This means that there are no longer games for a single Nintendo console, as was previously the case, but all Nintendo Switch games work with all Nintendo Switch consoles.

The only disadvantage is that the Joycons (controls) cannot be removed from the Switch Lite, which will make local multiplayer (two players on one device) on the Switch Lite more difficult. Because with the Nintendo Switch and the Switch OLED, you can remove the Joycons (controls) attached to the left and right of the console. This gives everyone on a console a remote control. For example, you would have all the buttons on the right of the console and your colleague would have all the buttons on the left of your console in their hands.

With the Switch Lite, you can also play together on a single console, but there you would have to hold the console together because of the fixed buttons. One on the left and one on the right.
You can use all other game functions, such as the online player, without any disadvantages.