Monolithic Power Systems ( (MPWR) ) has realeased its Q3 earnings. Here is a breakdown of the information Monolithic Power Systems presented to its investors.
Don't Miss our Black Friday Offers:
- Discover the latest stocks recommended by top Wall Street analysts, all in one place with Analyst Top Stocks
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Monolithic Power Systems, Inc. (MPS) is a fabless global company specializing in high-performance semiconductor-based power electronics solutions, aiming to improve energy efficiency and reduce material consumption with its innovative technologies.
In its latest earnings report for the third quarter of 2024, Monolithic Power Systems announced a significant increase in revenue, achieving $620.1 million, which marks a 22.2% sequential increase and a 30.6% year-over-year growth. The company also reported a GAAP net income of $144.4 million, translating to $2.95 per diluted share, compared to $121.2 million, or $2.48 per diluted share, in the same period last year.
Key financial metrics highlighted in the report include a GAAP gross margin of 55.4%, slightly down from 55.5% in the previous year, and a notable increase in GAAP operating expenses to $179.4 million from $128.0 million in the third quarter of 2023. Non-GAAP figures show operating income at $220.8 million, a substantial rise from $167.8 million the previous year, underscoring the company’s strategic focus on growing its core business segments, with notable revenue increases in enterprise data and automotive markets.
Looking forward, MPS projects fourth-quarter revenue between $600 million and $620 million, with a GAAP gross margin range of 55.2% to 55.8% and non-GAAP gross margin between 55.5% and 56.1%. The company aims to continue leveraging its strengths in semiconductor processes and system integration to drive further growth and market penetration.
Monolithic Power Systems remains committed to its long-term growth strategy, aiming to transition from being just a chip supplier to a comprehensive solutions provider, while addressing current market challenges and capitalizing on opportunities in its targeted markets.
