MPWR · 10-Q · 2026Q2 · Full report

Research and Development Expense

MONOLITHIC POWER SYSTEMS, INC. · 2026-08-05 · Importance 65 · Surprise 48 · In source text

Second-quarter R&D expense increased $22.3 million year over year to $118.6 million, with cash compensation and benefits contributing $11.2 million and new product development contributing $6.6 million. Six-month R&D expense increased $30.7 million to $219.2 million, including increases of $15.5 million in cash compensation and benefits, $5.7 million in new product development, $2.6 million in facilities costs, and $2.2 million in laboratory and other supplies. R&D declined as a percentage of revenue to 12.1% from 14.5% in the quarter and to 12.4% from 14.5% for six months. The spending increases supported continued product-development activity while revenue grew faster than engineering costs.

Key facts

• R&D expenses for the three months ended June 30, 2026: $118,618 thousand (12.1% of revenue), an increase of $22.3 million from Q2 2025. source
• R&D expenses for the six months ended June 30, 2026: $219,184 thousand (12.4% of revenue), an increase of $30.7 million from the six months ended June 30, 2025. source
• The company expects to continue devoting significant resources to research and development including related increased expenses. source

Impact estimates