MPWR · 10-Q · 2026Q2 · Full report

Liquidity and Cash Position

MONOLITHIC POWER SYSTEMS, INC. · 2026-08-05 · Importance 47 · Surprise 22 · In source text

Cash, cash equivalents, and short-term investments totaled $1.414 billion at June 30, 2026, up from $1.257 billion at December 31, 2025 and equal to 30.2% of total assets. Cash and cash equivalents decreased to $1.006 billion from $1.099 billion, while short-term investments increased to $408.2 million from $157.2 million. Foreign subsidiaries held $659.5 million of cash and cash equivalents and $309.2 million of short-term investments at quarter-end. MPS repatriated $140 million from foreign subsidiaries during the first six months with minimal tax impact and stated that available liquidity plus operating cash flow should cover requirements for the next 12 months.

Key facts

• For the six months ended June 30, 2026, the company repatriated $140 million from certain foreign subsidiaries to the U.S. with minimal tax impact. source
• The company expects balances of cash, cash equivalents and short-term investments of $1,413.8 million as of June 30, 2026, along with cash generated by operations, will be sufficient to satisfy liquidity requirements for the next 12 months. source
• As of June 30, 2026, $659.5 million of cash and cash equivalents and $309.2 million of short-term investments were held by foreign subsidiaries. source
• Net cash used in investing activities for the six months ended June 30, 2026: $396,857 thousand, an increase of $123.6 million versus 2025 primarily due to $67.4 million higher net purchases of investments and $64.8 million higher net purchases of property and equipment. source
• Net cash used in financing activities for the six months ended June 30, 2026: $178,611 thousand, a $43.3 million increase versus 2025 primarily due to an increase of $44.4 million in dividend and dividend equivalent payments. source
• As of June 30, 2026, cash and cash equivalents: $1,005,587 thousand; short-term investments: $408,174 thousand; total cash, cash equivalents and short-term investments: $1,413,761 thousand (30.2% of total assets). source
• As of December 31, 2025, cash and cash equivalents: $1,099,302 thousand; short-term investments: $157,243 thousand; total cash, cash equivalents and short-term investments: $1,256,545 thousand (30.0% of total assets). source
• Working capital as of June 30, 2026: $1,979,452 thousand (total current assets $2,477,386 thousand; total current liabilities $497,934 thousand). source

Impact estimates