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Earnings analysis · 10-Q

MPWR earnings analysis

Filed May 4, 2026 · Our reading of the company's report

The latest report

Monolithic Power Systems reported strong Q1 2026 results with total revenue of $804.2 million, outperforming expectations and marking a significant year-over-year increase of 26.1%. The company also exceeded EPS…

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Monolithic Power Systems reported strong Q1 2026 results with total revenue of $804.2 million, outperforming expectations and marking a significant year-over-year increase of 26.1%. The company also exceeded EPS estimates, reporting $5.1 against a consensus of $4.68, highlighting robust demand particularly in the enterprise data segment, which surged by 97.7%.

Read the original on SEC.gov

From revenue to operating profit

Where each $100 of revenue went in this report.

Of every $100 of revenue Cost of sales $45 Operating expenses $25 Left as operating profit $30

Cost of sales, operating expenses, and what remained. Figures are rounded to whole dollars.

Where revenue came from

The business segments reported by the company.

Enterprise Data 32.7% Storage and Computing 21.7% Automotive 18.9% Communications 13.9% Consumer 6.8% Other segments 6.0%

Shares of the segments disclosed in this filing, largest first.

Reported figures

Earnings per share
$5.1

What stood out

  • Strong Revenue Growth

    Q1 2026 revenue increased by $166.6 million, or 26.1%, to $804.2 million compared to $637.6 million in Q1 2025.

  • EPS Exceeds Expectations

    Reported EPS for Q1 2026 was $5.1, surpassing estimates of $4.68 and the prior year's Q1 EPS of $2.95.

  • Record Operating Income

    Operating income improved to $241.2 million, representing an operating margin of 30.0%, up from 26.5% in the prior year.

  • Significant Growth in Enterprise Data Segment

    Enterprise Data revenue soared by $129.9 million, or 97.7%, year-over-year, driven by demand for AI and server applications.

  • Healthy Cash Position

    Total cash, cash equivalents and short-term investments reached $1.37 billion as of March 31, 2026, up from $1.26 billion at year-end 2025.

  • Improved R&D Efficiency

    R&D expenses increased to $100.6 million, but as a percentage of revenue, they decreased to 12.4% from 14.4% in Q1 2025.

What to watch

  • Geopolitical Tensions

    Continued global geopolitical tensions could adversely impact supply chains, especially in the semiconductor sector.

  • Material Weakness in IC Reporting

    Management has identified a material weakness regarding accounting for deferred income taxes which remains unremediated as of this filing.

  • Economic Downturn Risk

    Macroeconomic factors such as inflation and rising interest rates may negatively affect semiconductor demand.

Management's outlook

Management anticipates Q2 2026 revenue between $890 million and $910 million.

This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.