POWI earnings analysis
What we found in POWI's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Power Integrations reported Q1 2026 revenues of $108.3 million, exceeding estimates and previous year results. EPS came in at $0.25, surpassing expectations, but gross margins decreased due to restructuring costs and currency impacts.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue Growth
- Q1 2026 revenue was $108.3 million, up from $105.5 million in Q1 2025, marking a 2.6% increase.
- EPS Surprise
- Reported EPS of $0.25 exceeded estimates of $0.20 with a surprise of 25%.
- Segment Growth
- Industrial segment showed growth, contributing to overall revenue increases.
- Strong Cash Position
- Cash increased to $257.2 million, reflecting a $7.7 million rise from December 2025.
- Reduced Operating Costs
- Despite restructuring, SG&A expenses decreased to $24.4 million from $27.4 million year-over-year.
- Dividend Returns
- $12.0 million was returned to shareholders through dividends during the quarter.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Declining Gross Margin
- Gross margin fell to 52.6% in Q1 2026 from 55.2% in Q1 2025, driven by restructuring costs.
- High Operating Expenses
- Operating expenses rose to $55.5 million, up from $51.5 million, mainly due to restructuring costs.
- Economic Uncertainty
- Ongoing macroeconomic risks, including inflation and geopolitical tensions, may impact future sales.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $0.25
- Gross margin
- 52.6%
- Operating margin
- 1.3%
- Segment
- Industrial
What they said about what is next.
Q2 revenue is expected between $115 million and $120 million.
The filing reads better than the one before it.
What came before.
- 10-K · February 6, 2026
- Power Integrations emphasizes expanding addressable market and a GaN-based product roadmap (InnoMux-2 rated at 1700 volts; BridgeSwitch-2 extended to ~746 watts) and completed the Odyssey Semiconductor asset acquisition…
- 10-Q · November 5, 2025
- Power Integrations reported net revenues of $118,919 thousand for Q3 (three months ended September 30, 2025), up $3,082 thousand versus $115,837 thousand in Q3 2024, with gross profit of $64,851 thousand (≈54.5%). GAAP…
- 10-Q · August 6, 2025
- Power Integrations reported Q2 2025 revenue of $115,852,000, up $9,654,000 (9.1%) versus Q2 2024, with gross profit rising to $63,954,000 (55.2% of revenue). Despite revenue and gross-margin improvement, the company…
- 10-K · February 7, 2025
- Power Integrations emphasizes growth via SAM expansion (now ~ $4.0 billion) and a GaN-based product roadmap (InnoMux-2 rated at 1700 volts; BridgeSwitch-2 extended to ~1 horsepower/746 W). The company acquired the…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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