Power Integrations Reports Strong Revenue Growth

Power Integrations ( (POWI) ) has released its Q4 earnings. Here is a breakdown of the information Power Integrations presented to its investors.

Power Integrations, Inc. is a key player in the semiconductor industry, specializing in high-voltage power conversion technologies that support the clean-power ecosystem. The company provides essential products for the generation and efficient transmission of renewable energy.

Power Integrations reported a notable 18% increase in quarterly revenues compared to the same period last year, reaching $105.2 million. However, this was a 9% decline from the previous quarter. The company’s GAAP earnings per diluted share for the fourth quarter stood at $0.16, while non-GAAP earnings were $0.30 per diluted share.

The full-year financial results showed a decrease in net revenues to $419.0 million from $444.5 million in the prior year. The GAAP net income for the year was $32.2 million, translating to $0.56 per diluted share, down from the previous year’s $0.97. The non-GAAP net income also saw a decline, with $1.16 per diluted share compared to $1.29 in 2023. The company maintained healthy cash flow from operations, totaling $81.2 million for the year.

The company’s CEO, Balu Balakrishnan, indicated optimism for 2025, expecting growth in various end-markets including renewable energy and automotive sectors. The firm’s innovative PowiGaN™ technology is expected to drive significant growth as its adoption across high-voltage power-conversion applications accelerates.

Looking forward, Power Integrations anticipates stable revenue for the first quarter of 2025, with a forecasted gross margin between 55% and 56%. The company remains focused on leveraging its technological advancements to capture opportunities in emerging markets, despite the uncertain demand outlook due to geopolitical and economic factors.