Press release
Monolithic Power Systems Announces Results for the Third Quarter Ended September 30, 2021
KIRKLAND, Wash., Oct. 28, 2021 (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., Oct. 28, 2021 (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 September 30, 2021. Revenue was $323.5 million for the quarter ended September 30, 2021, a 10.3% increase from $293.3 million for the quarter ended June 30, 2021 and a 24.7% increase from $259.4 million for the quarter ended September 30, 2020.GAAP gross margin was 57.6% for the quarter ended September 30, 2021, compared with 55.1% for the quarter ended September 30, 2020. GAAP gross margin included a one-time benefit of a $4.0 million litigation settlement for the quarter ended September 30, 2021.Non-GAAP (1) gross margin was 57.8% for the quarter ended September 30, 2021, excluding the impact of $0.9 million for stock-based compensation expense and $0.2 million for deferred compensation plan income. Excluding the one-time benefit of a $4.0 million litigation settlement, non-GAAP (1) gross margin would have been 56.6% for the quarter ended September 30, 2021. This compares with 55.5% for the quarter ended September 30, 2020, excluding the impact of $0.7 million for stock-based compensation expense and $0.2 million for deferred compensation plan expense.GAAP operating expenses were $109.2 million for the quarter ended September 30, 2021, compared with $83.1 million for the quarter ended September 30, 2020.Non-GAAP (1) operating expenses were $78.7 million for the quarter ended September 30, 2021, excluding $30.7 million for stock-based compensation expense and $0.1 million for deferred compensation plan income, compared with $59.1 million for the quarter ended September 30, 2020, excluding $22.3 million for stock-based compensation expense and $1.7 million for deferred compensation plan expense.GAAP operating income was $77.1 million for the quarter ended September 30, 2021, compared with $60.0 million for the quarter ended September 30, 2020.Non-GAAP (1) operating income was $108.4 million for the quarter ended September 30, 2021, excluding $31.6 million for stock-based compensation expense and $0.3 million for deferred compensation plan income, compared with $84.9 million for the quarter ended September 30, 2020, excluding $23.0 million for stock-based compensation expense ...