MONOLITHIC POWER SYSTEMS INC (MPWR) Earnings History

MONOLITHIC POWER SYSTEMS INC - Q1 2026 EarningsBeat

Filed at: Apr 30, 2026, 4:01 PM EDT|Read from source

EXECUTIVE SUMMARY

Monolithic Power Systems reported record quarterly revenue driven by strong performance in Communications and Enterprise Data segments, with significant year-over-year growth. The company also demonstrated robust operating margin expansion and improved cash flow generation.

POSITIVE HIGHLIGHTS

  • •

    Record quarterly revenue of $804.2 million, up 26.1% year-over-year.

    positive
  • •

    Communications end market revenue grew 55.5% year-over-year.

    positive
  • •

    Enterprise Data revenue increased 97.7% year-over-year, driven by AI and server applications.

    positive
  • •

    GAAP operating margin expanded to 30.0%, a 3.5 percentage point increase year-over-year.

    positive
  • •

    Non-GAAP operating margin remained strong at 35.8%, flat sequentially and up 1.1 percentage points year-over-year.

    positive
  • •

    Operating cash flow of $250.3 million, a significant increase from $104.9 million in Q4 2025.

    positive

CONCERNS & RISKS

  • •

    Storage and Computing revenue decreased 7.5% year-over-year.

    attention
  • •

    Consumer revenue decreased 4.2% year-over-year.

    attention
  • •

    Industrial revenue decreased 17.5% sequentially.

    attention
  • •

    Days of inventory increased to 157 days from 153 days in the prior quarter.

    attention
  • •

    Days of sales outstanding increased to 34 days from 31 days in the prior quarter.

    attention

FINANCIAL METRICS

Revenue
Quarterly
$804.20M
+26.1%
Prior year: $637.60M
Net Income
Quarterly
$193.23M
+43.1%
Prior year: $135.05M
EPS (Diluted)
Quarterly
$3.92
+39.5%
Prior year: $2.81
Operating Income
Quarterly
$241.15M
+42.9%
Prior year: $168.76M
EPS (Basic)
Quarterly
$3.94
+39.7%
Prior year: $2.82

MARGIN ANALYSIS

Gross Margin
Current Quarter
55.3%
Prior Year
55.4%
YoY Change
-10 bps
Operating Margin
Current Quarter
30.0%
Prior Year
26.5%
YoY Change
+350 bps
Net Margin
Current Quarter
23.9%
Prior Year
21.2%
YoY Change
+270 bps

Margin expansion indicates improving profitability and operational efficiency. Measured in basis points (bps): 100 bps = 1.0%.

REVENUE BY SEGMENT — Q1 2026 2026

VISUAL OVERVIEW

|
Enterprise Data
0.0%
N/A
Storage & Computing
0.0%
N/A
Automotive
0.0%
N/A
Communications
0.0%
N/A
Consumer
0.0%
N/A
Industrial
0.0%
N/A

DETAILED BREAKDOWN

|
SegmentCurrentPrior YrYoY% Total
Enterprise Data
N/A———
Storage & Computing
N/A———
Automotive
N/A———
Communications
N/A———
Consumer
N/A———
Industrial
N/A———
Total Revenue$0.00M——100.0%

Segment performance shows business unit health and growth drivers.

MANAGEMENT GUIDANCE

FY 2026

Non-GAAP tax rate
15.0%—15.0%
Mid-point: 15.0%

Q2 2026

revenue
$890000.0B—$910000.0B
Mid-point: $900000.0B
GAAP gross margin
55.1%—55.7%
Mid-point: 55.4%
Non-GAAP gross margin
55.3%—55.9%
Mid-point: 55.6%
GAAP operating expenses
219,100,000—225,100,000
Mid-point: 222,100,000
Non-GAAP operating expenses
167,000,000—171,000,000
Mid-point: 169,000,000
Interest and other income
7,400,000—7,800,000
Mid-point: 7,600,000
"before foreign exchange gains or losses"
Fully diluted shares outstanding
49,100,000—49,500,000
Mid-point: 49,300,000

Forward-looking guidance is subject to change and does not constitute a guarantee. Actual results may differ materially from these estimates.

MANAGEMENT COMMENTARY

Record quarterly revenue driven by continued innovation, consistent execution, and a diversified market strategy.

— MONOLITHIC POWER SYSTEMS INC, Q1 2026 2026 Earnings Call

Communications and Enterprise Data end markets showed significant acceleration, with Enterprise Data revenue up 97.7% year-over-year.

— MONOLITHIC POWER SYSTEMS INC, Q1 2026 2026 Earnings Call

The company is expanding its capacity beyond the original $4B plan, setting a new goal of reaching $6B.

— MONOLITHIC POWER SYSTEMS INC, Q1 2026 2026 Earnings Call

Commentary excerpts from earnings call transcripts provide management's perspective on performance, strategy, and outlook. Always review full transcripts for complete context.

OPERATIONAL METRICS

Days of Sales Outstanding
34
+9.7% YoY
Prior year: 31
Days of Inventory (next quarter revenue)
140
+0.7% YoY
Prior year: 139
Days of Inventory (current quarter revenue)
157
+7.5% YoY
Prior year: 146

Operational metrics provide insight into business drivers and customer engagement beyond traditional financial measures.

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Analysis

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