MPS(US:MPWR) ZACKS·2025-05-02 16:05Core Insights - Monolithic Power Systems, Inc. (MPWR) reported strong first-quarter 2025 results, with adjusted earnings and revenues exceeding the Zacks Consensus Estimate [1] Financial Performance - Net income on a GAAP basis was $133.8 million or $2.79 per share, up from $92.5 million or $1.89 per share year-over-year, driven by top-line growth [3] - Non-GAAP net income increased to $193.8 million or $4.04 per share from $137.5 million or $2.81 per share in the prior-year quarter, surpassing the Zacks Consensus Estimate by 4 cents [3] - Revenues reached $637.6 million, a 39.2% increase from $457.9 million in the year-ago quarter, beating the Zacks Consensus Estimate of $635 million [4] Revenue Breakdown by End Markets - Storage and Computing revenues were $188.5 million, up 77.7% year-over-year, driven by strong demand for memory and notebook solutions, exceeding the Zacks Consensus Estimate of $177.57 million [5] - Automotive revenues contributed $144.9 million, compared to $87.1 million in the year-ago quarter, though it missed the Zacks Consensus Estimate of $148.34 million [6] - Industrial revenues increased to $42.6 million from $30.2 million year-over-year, slightly beating the Zacks Consensus Estimate of $42.16 million [6] - Communications end market revenues were $71.7 million, up from $46.7 million year-over-year, but fell short of the Zacks Consensus Estimate of $73.27 million [7] - Consumer end market revenues improved to $56.9 million from $38.1 million year-over-year, missing the Zacks Consensus Estimate of $58.92 million due to lower gaming revenues [7] Operational Metrics - Non-GAAP gross margin remained stable at 55.7%, while non-GAAP operating expenses rose to $133.5 million from $103.4 million in the prior-year period [8] - Non-GAAP operating income increased to $221.5 million from $151.6 million year-over-year [8] Cash Flow and Liquidity - Operating cash flow for the quarter was $256.4 million, compared to $248 million in the prior-year quarter [10] - As of March 31, 2025, cash and cash equivalents totaled $637.4 million, with $105.8 million in other long-term liabilities [10] Future Outlook - For Q2 2025, the company estimates revenues between $640 million and $660 million, with non-GAAP gross margin expected to be between 55.2% and 55.8% [11] - GAAP gross margin is anticipated to be in the range of 54.9% to 55.5%, with GAAP operating expenses projected between $189.0 million and $195.0 million [11]