Press release
Monolithic Power Systems Announces Results for the First Quarter Ended March 31, 2023
KIRKLAND, Wash., May 04, 2023 (GLOBE NEWSWIRE) -- Monolithic Power Systems, Inc. (“MPS”) (Nasdaq: MPWR), a fabless company with a global footprint that
About this update from Monolithic Power Systems, Inc.
[{"type":"text","content":"KIRKLAND, Wash., May 04, 2023 (GLOBE NEWSWIRE) -- Monolithic Power Systems, Inc. (“MPS”) (Nasdaq: MPWR), a fabless company with a global footprint that provides high-performance, semiconductor-based power electronic solutions, today announced financial results for the quarter ended March 31, 2023. Revenue was $451.1 million for the quarter ended March 31, 2023, a 1.9% decrease from $460.0 million for the quarter ended December 31, 2022 and a 19.4% increase from $377.7 million for the quarter ended March 31, 2022.GAAP gross margin was 57.4% for the quarter ended March 31, 2023, compared with 57.9% for the quarter ended March 31, 2022.Non-GAAP gross margin (1) was 57.7% for the quarter ended March 31, 2023, excluding the impact of $1.1 million for stock-based compensation expense and $0.2 million for deferred compensation plan expense, compared with 58.3% for the quarter ended March 31, 2022, excluding the impact of $1.3 million for stock-based compensation expense.GAAP operating expenses were $134.5 million for the quarter ended March 31, 2023, compared with $122.7 million for the quarter ended March 31, 2022.Non-GAAP operating expenses (1) were $96.0 million for the quarter ended March 31, 2023, excluding $35.9 million for stock-based compensation expense and $2.6 million for deferred compensation plan expense, compared with $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.GAAP operating income was $124.3 million for the quarter ended March 31, 2023, compared with $96.1 million for the quarter ended March 31, 2022.Non-GAAP operating income (1) was $164.1 million for the quarter ended March 31, 2023, excluding $37.0 million for stock-based compensation expense and $2.8 million for deferred compensation plan expense, compared with $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.GAAP other income, net, was $5.3 million for the quarter ended March 31, 2023, compared with other expense, net, of $0.6 million for the quarter ended March 31, 2022.Non-GAAP other income, net (1) was $2.8 million for the quarter ended March 31, 2023, excluding $2.5 million for deferred compensation plan income, compared ...