Monolithic Power Systems, Inc. · NASDAQ:MPWR
Monolithic Power Systems — Investor Day (March 2025)
80 slides from Monolithic Power Systems's investor day presentation, Mar 20, 2025
Slide 1: Investor Day 2025
mPrS March 20, 2025
Slide 2: Safe Harbor Statement
mMmPrS Investor Day 2025 Safe Harbor Statement Statements made in this presentation contains forward-looking statements, as that term is defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are not historical facts or guarantees of future performance or e
Slide 3: Michael Hsing, President & CEO
Investor Day 2025 Michael Hsing President & CEO mPrS
Slide 4: Outstanding Organic Revenue & Operational Growth
Investor Day 2025 mrs Outstanding Organic Revenue & Operational Growth Non-GAAP EPS $20 culls $2,207M % $640M Ole $1,794 $1,821M +24. 9 (e] 4 MPS Revenue CAGR Stock Repurchase $12 SIA CAGR: 5.1% Current Authorization: $500M $8 % 1.5B om eam >400% »>$1. Increase in Quarterly Total Cash Returned to Di
Slide 5: MPS Global Footprint
Investor Day 2025 mPrS MPS Global Footprint @ Ps Global Offices Today 7 © R&D Centers C } Manufacturing Partners Today
Slide 6: End Customer Diversity
Investor Day 2025 mrs End Customer Diversity 20% Rest of World > USA End Customers End Customer by Geography
Slide 7: Growth Drivers by End Market
Investor Day 2025 Growth Drivers by End Market {5} Enterprise Data Al Accelerators * GPU + ASIC * Tensor Processor Cloud Computing CPU Servers and Workstations {5} Storage and Computing Al at the Edge Notebooks SSD / HDD DDR 5/HBM <b Automotive ADAS BMS / Traction Inverters Digital Cockpit / Lightin
Slide 8: Product Families
Investor Day 2025 Product Families Power Management + Switching Converters & Controllers, + Multi-Phase Controllers & Intelli-Phase + Power Management IC (PMIC) + Data Center + Power Protection + Power Over Ethernet (PoE) + Display Power and Control + USB, Load & Analog Switches + LDO & Voltage Supe
Slide 9: Power Management
Investor Day 2025 Power Management + Multi-Phase Controllers & Intelli-Phase + Data Center Class-D Audio + Digital Control + Analog Input + PWM Input Power Drivers rs & Processors Battery Management + Chargers * Battery Monitors & Protectors + Fuel Gauges + Active Balancers Motor Drivers & Motor Con
Slide 10: Jinghai Zhou, VP of Cloud Computing
Investor Day 2025 Jinghai Zhou VP of Cloud Computing mPrS
Slide 11: Why MPS is Winning?
Investor Day 2025 mrs MPS Investor Day 2018 Why MPS is Winning? Solution 1400 Size MPS 2017 2018 2019 2020 While Others Hitting Size and Frequency Boundaries, MPS Monolithic Solution Takes Off
Slide 12: Ready for the 48V Power Architecture for Data Centers
Investor Day 2025 mPrS MPS Investor Day 2018 Ready for the 48V Power Architecture for Data Centers Digital Controlled Resonant (DCX) Multi-Mega Hertz Multi- Phase VR 2-Stage Structure * Simplicity — well-understood architecture * Scalability — can address different power levels * Transient performan
Slide 13: Great Technology Wins Its Own Way
Investor Day 2025 MPS Investor Day 2018 Great Technology Wins Its Own Way CPUs ==> Grantley ===> Purley => Whitley | *$20 Per CPU *>$30 Per CPU Gaming SOCs | GPUs | FPGA Accelerators We Keep Our Promise to Provide Leading il Edge Technologies! Tensor * Typical Power IC cost, including associated DDR
Slide 14: GPU as an AI Engine Gets Power Hungry
Investor Day 2025 mrs MPS Investor Day 2018 GPU as an Al Engine Gets Power Hungry * Source: Nvidia GPU Conference, 2017 Al Engine Powered by MPS QSMOD- Integration Brings Unprecedented Feature Sets to the System
Slide 15: Outstanding Revenue Growth
Investor Day 2025 mPrS Outstanding Revenue Growth $716M +60% MPS Enterprise Data CAGR Since 2018 $24M 2017) 2018 §=2019 2020 2021 2022 2023 2024
Slide 16: Leading the Next Wave of Computing Power
Investor Day 2025 Leading the Next Wave of Computing Power 2018 Past Predictions: Present Success: Future Focus: Rise of monolithic power Our Intelli-Phase and As power demands grow, we’re solutions and 48V architecture — ZPD™ technologies — solving the next wave of challenges: delivered the solutio
Slide 17: Accelerating Power Demands: The New Normal
Investor Day 2025 mPrS Accelerating Power Demands: The New Normal Al GPU/ASIC Power Consumption 2500 SoC Providers * NVIDIA * AMD 2000 * Intel * Marvell * Broadcom Power(W) a =] j=) 2019 2020 2021 2022 2023 2024 2025 2026 2027
Slide 18: GPU Power: Driving Data Center Architectural Evolution
Investor Day 2025 mPrS GPU Power: Driving Data Center Architectural Evolution PDB IBC Core VR Al SoC “__ Be —_ | iad Core aw QPL-© Power +/- 400V Modules & 48V ————— Beteocles PDB: Power distribution board IBC: Intermediate bus converter
Slide 19: Power Density
Investor Day 2025 Power Density Intelli-Module Second-Stage Core Power g 1.25A/mm? Multiphase and Coy; Integration Smaller Package 1.5A/mm? Packaging Innovation @ 3A/mm? 2018 2020 2025 2026 mMmPrS Intelli-Phase Monolithic One Die vs Five Dice euessses® —s SSS Monolithic Intelli-Phase Discrete Die Dr
Slide 20: Z-Axis Power Delivery (ZPD)
Investor Day 2025 mrs Z-Axis Power Delivery (ZPD™) Processor Power 150uN PDN 150uQ PDN stage
Slide 21: Direct Power Ball Mapping (DPBM)
Investor Day 2025 mPrS Direct Power Ball Mapping (DPBM) XPU Package Accelerator Card PCB / liieeecetneervrcceser~iiaeeel Connector Direct Power Ball Mapping Module Ei Connector Base Board Superior PDN Performance
Slide 22: AI/ML Rack Power: Trending Beyond 600kW in 2027
Investor Day 2025 mPrS Al/ML Rack Power: Trending Beyond 600kW in 2027 Next Gen 144 x 2,500W S00kW GPUs 72 x 1,200W 120kW GPUs 32 x 7O0W 40kW GPUs 16 x 400W GPUs > 12kW 2021 2022 2023 2024 2025 2026 2027
Slide 23: AI/ML Rack Power: Trending Beyond 600kW in 2027
Investor Day 2025 mPrS Al/ML Rack Power: Trending Beyond 600kW in 2027 PDB IBC Core VR Al SoC &E Sey _CUC<i«i‘ i Core am OL-®} Power +/- 400V Modules & 48V ————— Beeeocles PDB: Power distribution board IBC: Intermediate bus converter
Slide 24: Recap: >$4B SAM and Rapidly Growing
Investor Day 2025 mPrS Recap: >$4B SAM and Rapidly Growing Today Tomorrow CPU Server Board GPU Al Server Rack Data Center
Slide 25: Allen Chen, VP of Automotive
Investor Day 2025 Allen Chen VP of Automotive mPrS
Slide 26: Automotive highlights
Investor Day 2025 ean ath on ur 2018 . ® ® ® mMmPrS Growing beyond $53M revenue with strong design wins Ramping with top global tier 1 suppliers Diversifying business across automotive applications
Slide 27: Growing Beyond $53M Revenue With Strong Design Wins
Investor Day 2025 mPrS Growing Beyond $53M Revenue With S414 Strong Design Wins +44% MPS Automotive Revenue CAGR Since 2013 $53M $7.7M 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Slide 28: Ramping With Top Global Tier Suppliers
Investor Day 2025 mPrS Ramping With Top Global Tier 1 Suppliers Number of Customers > $250k/y @ 2018 2024
Slide 29: Diversified Impact
Investor Day 2025 mPrS Diversified Impact — Established Expanding Emerging ADAS Digital Cockpit Lighting Body Electronics Battery Management Radar, Camera, Infotainment, Matrix Headlamp, HVAC, Seat, 48V, HEV, EV LiDar, Self-driving Cluster, HUD, USB Dynamic Lighting, Lift Gate, Compute Charging Inte
Slide 30: Strategically Positioned for What's Next
Investor Day 2025 Strategically Positioned for What's Next 1 Billion+ Preferred Annually Supplier Auto-grade devices Top automotive shipped OEMs & tier 1s mMmPrS 1,200+ Automotive products in our portfolio
Slide 31: Driving the Future of Software-Defined Mobility
Investor Day 2025 Driving the Future of Software-Defined Mobility {5} The Car Compute Era A ADAS Sensor Proliferation % Digital Cockpit 4, High Voltage (800V+) oF 48V Transition
Slide 32: Car Compute: Smart, Safety-Capable Why MPS Wins
Investor Day 2025 mPrS Car Compute: Smart, Safety-Capable Why MPS Wins Power Demands to Grow 10X SUPERCHIP Centralized, high performance Automotive DrMOS Vertical Power Module computing ADAS and IVI functionality merging * 60% smaller layout into single platform : + Unrivaled performance, Digital SO
Slide 33: ADAS Sensor: Higher Sensor Counts and Resolution Drive 3X Power Content Growth
Investor Day 2025 ADAS Sensor: Higher Sensor Counts and Resolution Drive 3X Power Content Growth Robotaxis and L3+ vehicles increasingly rely on multimodal sensor symphonies Cameras, Radar, LiDAR combine for enhanced perception Sensors need ultra-compact power optimized for thermal and EMI managemen
Slide 34: Digital Cockpit: Powerful GPUs and Streaming Content Double Power Demands
Investor Day 2025 mPrS Digital Cockpit: Powerful GPUs and Streaming Content Double Power Demands Why MPS Wins Cockpit of the future is a cinema-like environment High-bandwidth connectivity delivers Al-driven content, cloud gaming and a bespoke user experience Sensor cocoon monitors attention, safety
Slide 35: High Voltage: Perfectly Positioned to Capture Why MPS Wins
Investor Day 2025 mPrS High Voltage: Perfectly Positioned to Capture Why MPS Wins $B in Untapped TAM Electrification still growing, varies widely by region 800V ABMS Battery architectures and fast charging networks continue migrating * Reduces OEM software from 400V to 800V overhead Automakers striv
Slide 36: 48V Transition: Greenfield Opportunity Unlocks
Investor Day 2025 48V Transition: Greenfield Opportunity Unlocks $B in New TAM with No Established Competition Car Compute 12V vs 48V Power Distribution 48V adoption is a when, not if Legacy 12V no longer adequate 48V is critical to meet growing electronics demand 48V + Zonal enable a more than 40%
Slide 37: From milliWatt to kilowatt, MPS Smart Power Enables Software-Defined Mobility
Investor Day 2025 mPrS From milliWatt to kilowatt, MPS Smart Power Enables Software-Defined Mobility: * Innovative Technology: Enabling automakers to achieve more with less * System Solutions: Aligned with high- potential trends for maximum impact * Diverse Pipeline: Broad design wins across regions
Slide 38: Humanoid Robotics
Investor Day 2025 Humanoid Robotics Song Qu Senior Director of Standard Analog mPrS
Slide 39: Automation is a Multi-Billion Dollar TAM Opportunity
Investor Day 2025 mPrS Automation is a Multi-Billion Dollar TAM Opportunity Multiple Content Opportunities ¢ Micro-Controllers, Logistics Processors « Power Management Packaging Robotics ¢ Motor Drivers 3 eS * Battery Management Ca) @) * Sensors CNC Semiconductor Manufacturing 3D Printing
Slide 40: MPS Total Robotics Solution
Investor Day 2025 MPS Total Robotics Solution 45 MPS Products Shoulder mPrS Al Power, ADAS and BMS Upper Arm Forearm
Slide 41: Miniaturization Motor Integrated With:
Investor Day 2025 mPrS Miniaturization Motor Integrated With: MCU 3-Phase Motor Driver Position Sensor DC/DC oe ee Dex Hands Highly Integrated Solution + Innovative Package Smallest Coreless Motor 2” in the World
Slide 42: Precision Control
Investor Day 2025 mPrS Precision Control
Slide 43: What's Next in Robotics
Investor Day 2025 mPrS What’s Next in Robotics Today Tomorrow End-to-End Solution Partnership With Global ADAS Solution For High-Power Engineering Robotics Players Physical Al Wireless Charging
Slide 44: Audio
Investor Day 2025 Audio Song Qu Senior Director of Standard Analog mPrS
Slide 45: Opens up a new $1B market
Investor Day 2025 mrs + OQ IGN mPrS Opens up a new $1B market Changing people’s experience in their cars, homes, concert venues, and stadiums Opportunity to leverage IP across end markets
Slide 46: Shaping the Future of Audio
Investor Day 2025 mrs Shaping the Future of Audio High Fidelity Audio Performance 90% Reduction in Power Loss Intelligent Noise Cancellation Easy to Use Integrated Solution
Slide 47: Unmatched Sound, Unrestricted Freedom
Investor Day 2025 mPrS Unmatched Sound, Unrestricted Freedom
Slide 48: Battery Management
Investor Day 2025 Battery Management Cc Chris Sporck Director of Battery Management mPrS
Slide 49: Powering the Green Energy Transition
Investor Day 2025 mPrS Powering the Green Energy Transition
Slide 50: Evolution of MPS Battery Management Systems
Investor Day 2025 mPrS Evolution of MPS Battery Management Systems f.. nel er Today eee > pons a ot a ; Game-changing active balancer 1st Gen BMS Major design wins in F energy storage market Complete, turnkey BMS solution as Pon 2nd Gen BMS 1Mu Shipped Design wins at largest e-bike customers Fuel ga
Slide 51: Why MPS BMS Is Winning
Investor Day 2025 Why MPS BMS Is Winning Using system-level expertise to speed up design cycles and drive innovation Full MCU fi Battery Monitor + ul irmware Protector Fuel Gauge Active or Passive Balancing Example MPS BMS Turn-key Solution for 48V and Stackable Modules mMmPrS Innovation & Performan
Slide 52: Driving Incremental Future SAM
Investor Day 2025 mPrS Driving Incremental Future SAM Expanding Share What’s Next Energy Storage Datacenter & 5G Backup Notebook Automotive
Slide 53: New Market Expansion: Notebook Battery Management
Investor Day 2025 New Market Expansion: Notebook Battery Management Monolithic battery charger delivering up to 50% faster charging in half the size Traditional Discrete Solution MPS Monolithic Solution Dual-Phases -® Integrated FETs mMmPrS Integrated FETs and dual-phases enable: Higher efficiency L
Slide 54: Powering the Green Energy Transition
Investor Day 2025 Powering the Green Energy Transition
Slide 55: Michael Hsing, President & CEO
Investor Day 2025 Michael Hsing President & CEO mPrS
Slide 56: E to E through eCommerce - 2018
Investor Day 2025 mPrS E to E through eCommerce - 2018 MPS Al Algorithm fae Ecommerce Website faa Interactive Web-Based Design Delivered in Days Custom Parts — BAG see ese —_ —— BR Pn,
Slide 57: Building Automation
Investor Day 2025 mPrS Building Automation: A Need for Intelligent Controls in Living Spaces and Workplaces
Slide 58: Window/Door
Investor Day 2025 mPrS Window/Door BA100 Controller: Actuators | Sound System LED Lighting Control All-in-One Al Building Mimicking Nature _ Window Shade = Control Daylight —_— Sensor Airflow Occupancy Sensors/ Facial Recognition Temperature/ Sensor Control Geothermal
Slide 59: AI Building Automation Enabler: BA100 Controller
Investor Day 2025 mPrS Al Building Automation Enabler: BA100 Controller a. Smart Control Made Simple o£ + Control for 3,500 Sq Ft: Manage lighting and automated shades for offices or homes * 10-25% Energy Savings: Smart optimization reduces energy costs * 30% Installation Savings: Low-voltage DC, no
Slide 60: Ultrasound: Compact Size, Superior Performance, Innovative Care
mMmPrS Investor Day 2025 Ultrasound: Compact Size, Superior Performance, Innovative Care
Slide 61: First Ultrasound AI Enabler System Based on MPS Chip Sets and Software
Investor Day 2025 mPrS First Ultrasound Al Enabler System Based on MPS Chip Sets and Software Engineered for Innovation * All-in-one software reconfigurable for: * Vascular « Abdomen * Cardiac * GPU-based processor for Al diagnoses + Advanced connectivity, telemedicine ready ¢ Better performance wit
Slide 62: Commercial Opportunities
Investor Day 2025 mPrS Commercial Opportunities Hospital & Dr. Office Al Diagnostic Telemedicine Application Tits
Slide 63: Bernie Blegen, EVP & CFO
Investor Day 2025 Bernie Blegen EVP & CFO mPrS
Slide 64: Q1'25 Guidance
Investor Day 2025 mPrS Q1‘25 Guidance Q1 Guidance from Feb 6, 2025 Revenue $610M - $630M Non-GAAP Gross Margin% 55.4% —- 56.0% Non-GAAP Operating Expenses $126.9M —- $130.9M Non-GAAP Other Income $5.8M - $6.2M Non-GAAP Tax Rate 15% Fully Diluted Shares 47.8M - 48.2M Stock Based Comp $55.0M - $57.0M
Slide 65: Updated Q1'25 Guidance
Investor Day 2025 mPrS Updated Q1‘25 Guidance Q1'25 Guidance March 20, 2025 Revenue $630M - $640M Non-GAAP Gross Margin% 55.4% - 56.0% Non-GAAP Operating Expenses $131.6M - $135.6M Non-GAAP Other Income $5.8M - $6.2M Non-GAAP Tax Rate 15% Fully Diluted Shares 47.8M - 48.2M Stock Based Comp $55.0M -
Slide 66: Target in 2018 vs. 2021 Actual
Investor Day 2025 Target in 2018 vs. 2021 Actual Revenue Gross Margin Opex as a % of Revenue Operating Margin Capital Allocation Includes non-GAAP measures. Reconciliations of non-GAAP measures to the closest GAAP measure can be found at the end of this presentation. Opex excludes litigation expense
Slide 67: Outstanding Organic Revenue & Operational Growth
Investor Day 2025 mrs Outstanding Organic Revenue & Operational Growth oe sw +24.9% $$640M $2,207M MPS Revenue CAGR Stock Repurchase Se SIA CAGR: 5.1% Current Authorization: $500M $1,794m $1,821M $12 2018 Today Employees >1700 >4000 $8 Major Sites 4 8 Foundry Partners 5 13 $582m $628M au $4 Capacity
Slide 68: Above-Market Growth and Attractive Margin Profile
Investor Day 2025 mPrS Above-Market Growth and Attractive Margin Profile 35% 30% @ MPWR 25% c 2 20% o o 3 15% i g \ ® 10% \ / x Ps ee . — = BS so aN AOSL Oc tsce 2 5% (.VSH ) ~\ ID ad TXN ) 0% } y 5% 10% 20% 30% 40% 50% 60% 70% 80% 5 year Average Gross Margin * Bubble Size is 2024 revenue As of Dece
Slide 69: Diversity of End Markets
Investor Day 2025 Diversity of End Markets % of Revenue Enterprise Data Storage and Computing Automotive Communication Consumer Industrial 2018 7.2% 20.1% 13.8% 12.1% 31.6% 15.2% 2021 9.6% 21.2% 16.9% 13.6% 23.4% 15.3% 2024 32.5% 22.7% 18.8% 10.2% 9.1% 6.7% mMmPrS
Slide 70: Technology Drives SAM Expansion
Investor Day 2025 mPrS Technology Drives SAM Expansion 2015 2018 2025 Future SAM Hl $105 EEE $165 ES $273 ee =? ——— j Auto BMS Solutions Power Isolation / Rack Power High Voltage GaN IC/Module Solutions for Consumer Auto Solutions Active Balancer for Grid Storage > Mini-Phase and BMS Solutions for N
Slide 71: Diversified SAM Expansion
Investor Day 2025 mPrS Diversified SAM Expansion Market ($B) 2015 SAM 2018 SAM 2025 SAM Automotive $ 4.0 $6.0 $ 10.6 Cloud Compute / Al / Storage 0.8 1.0 4.0 hil aia Motion Control / 2.0 3.0 4.0 Other 3.2 6.5 8.9 Total MPS SAM $ 10.0 $ 16.5 $ 27.5 Source: Internal estimates
Slide 72: 2025 Non-GAAP Financial Goals
Investor Day 2025 mPrS 2025 Non-GAAP Financial Goals 2025 - 2027 Exceed market b' Revenue 5 G y 10%-15% Gross Margin 55%-60% 80%-90% Opex o-W0% of annual revenue growth 40%- 0, Cash Returned to Shareholders =e of FCF Goals are measured as of Dec 31 of each year These values are goals and should not
Slide 73: mrS
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Slide 74: Non-GAAP Financial Measures
Investor Day 2025 mPrS Non-GAAP Financial Measures This presentation contains references to certain non-GAAP financial measures. Non-GAAP net income, non-GAAP net income per share, non-GAAP gross margin, non-GAAP operating expenses, non-GAAP other income, net, non-GAAP operating income and non-GAAP
Slide 75: Reconciliation of GAAP to Non-GAAP Measures
Investor Day 2025 Reconciliation of GAAP to Non-GAAP Measures (Amounts in millions) Stock-Based Non-GAAP Operating Fiscal Quarter GAAP Operating Expenses Compensation and Expenses Related Expenses1 2025 Q1 Guidance (February) $180.2 - $186.2 (53.3) – (55.3) 2025 Q1 Guidance (March) $184.9 - $190.9 (
Slide 76: Reconciliation of GAAP to Non-GAAP Measures
Investor Day 2025 Reconciliation of GAAP to Non-GAAP Measures (Amounts in percentages) Stock-Based GAAP Operating Compensation Deferred Fiscal Year Expenses as a % an nara d Compensation of Revenue Expenses! Plan Expense 2017 38.4% (10.8) (0.6) 2021 35.0% (9.9) (0.4) 2024 30.9% (9.4) (0.4) 1. 2017 a
Slide 77: Reconciliation of GAAP to Non-GAAP Measures
Investor Day 2025 Reconciliation of GAAP to Non-GAAP Measures (Amounts in percentages) Fiscal Year/Quarter 2017 2021 2024 2025 Q1 Guidance Stock-Based Ae os | mee | Comments | eatie hem Expenses! Plan Expense 54.8% 0.4 -* 0.4 56.8% 0.3 -* - 55.3% 0.3 0.1 0.1 55.1% - 55.7% 0.3 -* -* 1. 2017 and 2021
Slide 78: Reconciliation of GAAP to Non-GAAP Measures
mMmPrS Investor Day 2025 Reconciliation of GAAP to Non-GAAP Measures (Amounts in percentages) Stock-Based Fi GAAP Operating Compensation petered) Intangible Asset Non-GAAP iscal Year Compensation cate . ; Margin and Related Pl Amortization Operating Margin Expenses! jan Expense Pp 2017 16.4% 11.2 0.
Slide 79: Reconciliation of GAAP to Non-GAAP Measures
Investor Day 2025 mPrS Reconciliation of GAAP to Non-GAAP Measures (Amounts in $/share) Recognition of Stock-Based Deferred . i Fiscal GAAP Compensation Compensation ano Siesta ei) Ex Benefit Non-GAAP Year Diluted EPS and Related Plan Expense lAmortizati Adjust t Forei Diluted EPS Expenses! (Income)
Slide 80: Return to Shareholders
Investor Day 2025 Return to Shareholders (Amounts in millions) Fiscal Year Stock Repurchases 2017 - 2021 = 2024 $636.2 Dividend and Dividend- Equivalents Paid $33.9 $109.4 $240.6 mMmPrS Cash Returned to Shareholders $33.9 $109.4 $876.8