Monolithic Power Systems reports strong Q3 2026 results

Form: 10-Q
Filed: Nov 3, 2026, 4:02 pm ET
Importance: Notable
Accession: 0001628280-26-069440

Revenue of $1.2 billion for the three months ended Sep 30, 2026
Net income of $271.07 million for the three months ended Sep 30, 2026
Diluted EPS of $5.51 for the three months ended Sep 30, 2026
Cash and equivalents of $560.54 million as of Sep 30, 2026

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The filing includes unaudited financial statements, including balance sheets, income statements, and cash flow data.

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The company's gross margin for the quarter was 55.4%, with an operating margin of 29.7% and a net margin of 22.5%.
Net income for the quarter was $271.1 million.
Revenue increased by 63.1% compared to the same period in the previous year, as stated in the filing.

From the filing

Item 1. Financial Statements (unaudited)

Item 1.¹ ¹Financial Statements (unaudited)¹

Condensed Consolidated Balance Sheets¹

Condensed Consolidated Statements of Operations¹

Condensed Consolidated Statements of Comprehensive Income

Condensed Consolidated Statements of Stockholders' Equity

Condensed Consolidated Statements of Cash Flows¹

Notes to Condensed Consolidated Financial Statements

Item 1. Financial Statements

MONOLITHIC POWER SYSTEMS, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands, except par value; unaudited)

September 30,

2026 December 31,

2025

ASSETS

Current assets:

Cash and cash equivalents $ 560,544 $ 1,099,302 Short-term investments 530,690 157,243 Accounts receivable, net 461,633 255,626 Inventories 764,879 564,649 Other current assets 54,024 106,982 Total current assets 2,371,770 2,183,802 Property and equipment, net 821,573 627,689

Acquisition-related intangible assets, net 7,929 8,790

Goodwill 25,944 25,944 Deferred tax assets, net 1,183,003 1,182,883 Other long-term assets 262,362 165,091 Total assets $ 4,672,581 $ 4,194,199

LIABILITIES AND STOCKHOLDERS' EQUITY

Current liabilities:

Accounts payable $ 236,469 $ 138,272

Accrued compensation and related benefits 136,528 85,963

Other accrued liabilities 267,657 145,130 Total current liabilities 640,654 369,365 Income tax liabilities 75,022 75,022 Deferred tax liabilities 90,316 90,480 Other long-term liabilities 132,849 127,835 Total liabilities 938,841 662,702

Commitments and contingencies (Note 7)

Stockholders' equity:

Common stock and additional paid-in capital: $ 0.001 par value; shares authorized: 150,000 ; shares issued and outstanding: 48,792 and 48,709 , respectively 690,429 936,998 Retained earnings 3,034,058 2,609,651

Accumulated other comprehensive income (loss) 9,253 ( 15,152 )

Total stockholders' equity 3,733,740 3,531,497

Total liabilities and stockholders' equity $ 4,672,581 $ 4,194,199

See accompanying notes to unaudited condensed consolidated financial statements.

Table of Contents

MONOLITHIC POWER SYSTEMS, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(In thousands, except per-share amounts; unaudited)

Three Months Ended September 30, Nine Months Ended September 30,

2026 2025 2026 2025 Revenue $ 1,202,409 $ 737,176 $ 2,987,236 $ 2,039,304 Cost of revenue 536,870 330,948 1,335,562 913,830 Gross profit 665,539 406,228 1,651,674 1,125,474

Operating exp

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