MPWR · 10-Q · 2026Q2

MONOLITHIC POWER SYSTEMS, INC.

Filed 2026-08-05 · Technology · View original filing on EDGAR

Ranked Events

• AI Infrastructure DemandImportance 81 · Surprise 64
  Enterprise data revenue for the six months ended June 30, 2026 increased 132.4% year over year to $643.4 million. The growth was primarily attributable to higher sales of power-management solutions used in artificial…
• End-Market Demand TrendsImportance 75 · Surprise 64
  Second-quarter 2026 revenue increased 47.6% year over year to $980.6 million, primarily reflecting higher demand for enterprise data and communications products and a greater mix of higher-ASP power solutions.…
• Income Tax Rate ChangesImportance 69 · Surprise 64
  Second-quarter income tax expense increased to $64.4 million from $42.0 million, while the effective tax rate decreased to 20.0% from 23.7%. Six-month tax expense increased to $118.4 million from $80.8 million, while…
• Research and Development ExpenseImportance 65 · Surprise 48
  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…
• Purchase Commitments and ObligationsImportance 64 · Surprise 42
  MPS had $571.0 million of estimated future unconditional purchase commitments as of June 30, 2026. Of that amount, $542.1 million was due within one year, creating a substantial near-term cash requirement. Commitments…
• Capital Return ProgramImportance 64 · Surprise 82
  MPS repurchased 3,000 common shares for $4.0 million during the three and six months ended June 30, 2026. The February 2025 authorization permitted up to $500.0 million of repurchases through February 2028, with $489.3…
• Revenue Performance and MixImportance 64 · Surprise 56
  Second-quarter 2026 revenue increased 47.6% year over year to $980.6 million from $664.6 million, while six-month revenue increased 37.1% to $1.785 billion from $1.302 billion. Enterprise Data revenue rose 164.3% year…
• Gross Margin DriversImportance 56 · Surprise 38
  Second-quarter 2026 cost of revenue increased $141.0 million year over year to $439.6 million, primarily because of higher shipment volume and product mix. Six-month cost of revenue increased $215.8 million to $798.7…
• Distribution ChannelsImportance 54 · Surprise 14
  Monolithic Power Systems derives most revenue from distribution arrangements and direct customer sales in Asia, where its products are incorporated into end-user products. Revenue from direct customers in Asia…
• Geographic Revenue ConcentrationImportance 54 · Surprise 14
  Revenue from direct customers in Asia represented 94% of total revenue in the three months ended June 30, 2026, compared with 93% in the comparable 2025 quarter. Asia direct-customer revenue represented 93% of total…
• Operating Cash Flow TrendsImportance 49 · Surprise 32
  Net cash provided by operating activities decreased $15.9 million year over year to $478.2 million for the six months ended June 30, 2026. MPS attributed the decline to an overall increase in working-capital needs. Net…
• Liquidity and Cash PositionImportance 47 · Surprise 22
  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…
• Operating Expense TrendsImportance 46 · Surprise 22
  Second-quarter SG&A expense increased $13.6 million year over year to $118.6 million, driven by $11.5 million of higher cash compensation and benefits and $5.7 million of higher legal expenses, partly offset by a $6.8…
• Supply Chain ConstraintsImportance 29 · Surprise 24
  MPS operates as a fabless semiconductor company and relies on third parties to manufacture, assemble, and test its integrated circuits. Typical supply-chain lead times for orders are 16 to 26 weeks, while customers can…
• Products and TechnologyImportance 15 · Surprise 6
  MPS positions its power-electronics portfolio around system-level knowledge, semiconductor design, proprietary processes, system integration, and packaging technologies. These capabilities support reliable, compact,…
• Export Controls / Regulatory RiskImportance 10 · Surprise 6
  MPS is monitoring export control laws, tariffs, trade regulations, and other trade requirements affecting its global semiconductor business. Through the filing date, no such restrictions or requirements had a material…
• Macroeconomic Factors ImpactImportance 10 · Surprise 6
  MPS identified fluctuations in consumer spending and semiconductor demand, rising inflation, global tariffs and retaliatory measures, increased interest rates, and currency-rate fluctuations as macroeconomic challenges…

Revenue by Product (in thousands)

Revenue by Geography (in thousands)