Press release
Monolithic Power Systems Announces Results for the First Quarter Ended March 31, 2022
KIRKLAND, Wash., May 02, 2022 (GLOBE NEWSWIRE) -- Monolithic Power Systems, Inc. (“MPS”) (Nasdaq: MPWR), a global company that provides high-performance,
About this update from Monolithic Power Systems, Inc.
[{"type":"text","content":"KIRKLAND, Wash., May 02, 2022 (GLOBE NEWSWIRE) -- Monolithic Power Systems, Inc. (“MPS”) (Nasdaq: MPWR), a global company that provides high-performance, semiconductor-based power electronics solutions, today announced financial results for the quarter ended March 31, 2022. ●Revenue was $377.7 million for the quarter ended March 31, 2022, a 12.2% increase from $336.5 million for the quarter ended December 31, 2021 and a 48.4% increase from $254.5 million for the quarter ended March 31, 2021. ●GAAP gross margin was 57.9% for the quarter ended March 31, 2022, compared with 55.4% for the quarter ended March 31, 2021. ●Non-GAAP gross margin (1) was 58.3% for the quarter ended March 31, 2022, excluding the impact of $1.3 million for stock-based compensation expense, compared with 55.8% for the quarter ended March 31, 2021, excluding the impact of $0.8 million for stock-based compensation expense and $0.2 million for deferred compensation plan expense. ●GAAP operating expenses were $122.7 million for the quarter ended March 31, 2022, compared with $95.0 million for the quarter ended March 31, 2021. ●Non-GAAP operating expenses (1) were $86.6 million for the quarter ended March 31, 2022, excluding $38.5 million for stock-based compensation expense and $2.4 million for deferred compensation plan income, compared with $66.2 million for the quarter ended March 31, 2021, excluding $27.8 million for stock-based compensation expense and $1.0 million for deferred compensation plan expense. ●GAAP operating income was $96.1 million for the quarter ended March 31, 2022, compared with $46.1 million for the quarter ended March 31, 2021. ●Non-GAAP operating income (1) was $133.6 million for the quarter ended March 31, 2022, excluding $39.8 million for stock-based compensation expense and $2.4 million for deferred compensation plan income, compared with $75.8 million for the quarter ended March 31, 2021, excluding $28.6 million for stock-based compensation expense and $1.1 million for deferred compensation plan expense. ●GAAP other expense, net, was $0.6 million for the quarter ended March 31, 2022, compared with other income, net, of $2.6 million for the quarter ended March 31, 2021. ●Non-GAAP other income, net (1) was $1.6 million for the quarter ended March 31, 2022, excluding $2.2 million for deferred compensation plan expense, compared with $1....