MPWR · 10-Q · 2026Q3

MONOLITHIC POWER SYSTEMS, INC.

Filed 2026-11-03 · Technology · View original filing on EDGAR

Everything MPWR's SEC filings said, ranked

Ranked Events

• AI Infrastructure DemandImportance 75 · Surprise 64
  Enterprise Data revenue increased 164.6% for the nine months ended September 30, 2026, primarily because of higher sales of power-management solutions for AI and server applications. For the three months ended…
• Revenue Performance and MixImportance 75 · Surprise 64
  Third-quarter 2026 revenue increased 63.1% year over year to $1,202.4 million; nine-month revenue increased 46.5% to $2,987.2 million. Enterprise Data revenue rose 164.6% to $506.7 million in the quarter and 145.6% to…
• U.S. Tax Law ChangesImportance 71 · Surprise 82
  MPS reported income tax expense of $95.6 million for the three months and $213.9 million for the nine months ended September 30, 2026, with effective tax rates of 26.1% and 22.9%, respectively. The comparable 2025…
• Income Tax Rate ChangesImportance 63 · Surprise 64
  The third-quarter 2026 effective tax rate increased to 26.1% from 12.6% in the comparable 2025 quarter, and income tax expense rose to $95.6 million from $25.8 million. The nine-month effective tax rate increased to…
• Capital Return ProgramImportance 58 · Surprise 42
  The board increased the stock repurchase authorization by $500.0 million in July 2026, adding to the $500.0 million program approved in February 2025 and extending through February 2028. MPS repurchased 362,000 shares…
• End-Market Demand TrendsImportance 57 · Surprise 64
  Demand also strengthened in Communications and Automotive: third-quarter 2026 revenue increased 134.7% and 19.2%, respectively, year over year. Communications growth reflected higher sales of power solutions for…
• Operating Expense TrendsImportance 57 · Surprise 38
  Third-quarter 2026 SG&A expense increased 48.2% to $167.3 million from $112.9 million, but declined to 13.9% of revenue from 15.3%. The quarterly $54.4 million increase was primarily driven by $31.7 million more…
• Research and Development ExpenseImportance 57 · Surprise 38
  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…
• Distribution ChannelsImportance 54 · Surprise 14
  MPS derives most revenue through distribution arrangements and direct sales to customers in Asia, where its products are incorporated into end-user products. Revenue from direct customers in Asia was 93% of total…
• Geographic Revenue ConcentrationImportance 54 · Surprise 14
  Direct-customer sales in Asia represented 93% of total revenue in the third quarter of 2026, compared with 91% in the third quarter of 2025. Asia also accounted for 93% of revenue for both the nine months ended…
• Purchase Commitments and ObligationsImportance 49 · Surprise 6
  At September 30, 2026, estimated future unconditional purchase commitments to suppliers and other parties totaled $767.3 million, of which $730.1 million was due within one year. The commitments primarily covered…
• Liquidity and Cash PositionImportance 47 · Surprise 22
  At September 30, 2026, cash and cash equivalents were $560.5 million and short-term investments were $530.7 million, totaling $1,091.2 million, down from $1,256.5 million at December 31, 2025. Foreign subsidiaries held…
• Operating Cash Flow TrendsImportance 42 · Surprise 14
  Net cash provided by operating activities was $768.1 million for the nine months ended September 30, 2026, up $34.8 million from $733.3 million in the same 2025 period. The increase primarily reflected higher cash…
• Supply Chain ConstraintsImportance 25 · Surprise 6
  MPS uses third parties to manufacture, assemble and test its ICs and power solutions, maintaining a fabless operating model. Typical supply-chain lead times for orders are 16 to 26 weeks, and customers can generally…
• Gross Margin DriversImportance 18 · Surprise 14
  Third-quarter 2026 gross margin increased to 55.4% from 55.1% a year earlier, primarily because of product mix. Nine-month gross margin was 55.3%, compared with 55.2% in 2025. Cost of revenue increased $206.0 million…
• Export Controls / Regulatory RiskImportance 10 · Surprise 6
  MPS monitors changes to export control laws, tariffs, trade regulations, and other trade requirements. For the three months ended September 30, 2026, and through the filing date, no such restrictions or requirements…
• Macroeconomic Factors ImpactImportance 10 · Surprise 6
  MPS says the semiconductor industry is affected by fluctuations in consumer spending and semiconductor demand, rising inflation, increased interest rates, and currency-rate fluctuations. The Company remains cautious…

Revenue by Product (in thousands)

Revenue by Geography (in thousands)