MPWR · 10-Q · 2026Q3 · Full report

Research and Development Expense

MONOLITHIC POWER SYSTEMS, INC. · 2026-11-03 · Importance 57 · Surprise 38 · No source text

Third-quarter 2026 R&D expense rose 43.2% to $140.6 million from $98.2 million, while declining as a share of revenue to 11.7% from 13.3%. The quarterly increase of $42.4 million primarily reflected $21.7 million more cash compensation and benefits, $11.8 million more stock-based compensation, and $3.3 million more new-product development expense. Nine-month R&D expense increased 25.5% to $359.8 million from $286.7 million, with increases including $37.2 million in cash compensation and benefits, $11.4 million in stock-based compensation, and $8.9 million in new-product development expense.

Key facts

• Three-month R&D expense was $140.6 million, or 11.7% of revenue, in 2026 versus $98.2 million, or 13.3%, in 2025; the $42.4 million increase included $21.7 million more cash-based compensation and benefits, $11.8 million more stock-based compensation, and $3.3 million more new product development expense. source
• Nine-month R&D expense was $359.8 million, or 12.1% of revenue, in 2026 versus $286.7 million, or 14.1%, in 2025; the $73.1 million increase included $37.2 million more cash-based compensation and benefits, $11.4 million more stock-based compensation, $8.9 million more new product development expense, and $4.1 million more laboratory and other supplies. source

Impact estimates