Monolithic Power Systems Announces Results for the Third Quarter Ended September 30, 2025

Core Insights - Monolithic Power Systems, Inc. (MPS) reported strong financial results for the quarter and nine months ended September 30, 2025, with significant revenue growth and stable gross margins [2][4][5]. Financial Performance - Revenue for Q3 2025 was $737.2 million, a 10.9% increase from Q2 2025 and an 18.9% increase from Q3 2024 [2]. - For the nine months ended September 30, 2025, revenue reached $2,039.3 million, reflecting a 28.6% increase from $1,585.4 million in the same period of 2024 [4]. - GAAP gross margin for Q3 2025 was 55.1%, slightly down from 55.4% in Q3 2024, while non-GAAP gross margin was 55.5% [2][4]. - GAAP net income for Q3 2025 was $178.3 million, or $3.71 per diluted share, compared to $144.4 million, or $2.95 per diluted share in Q3 2024 [2][4]. Operating Expenses and Income - GAAP operating expenses for Q3 2025 were $211.0 million, up from $179.4 million in Q3 2024 [2]. - Non-GAAP operating income for Q3 2025 was $260.6 million, compared to $220.8 million in Q3 2024 [2]. - For the nine months ended September 30, 2025, GAAP operating income was $528.7 million, up from $376.1 million in the same period of 2024 [4]. Revenue by End Market - Revenue by end market for Q3 2025 included: - Storage and Computing: $186.6 million [3] - Enterprise Data: $191.5 million [3] - Automotive: $151.5 million [3] - Total revenue for Q3 2025 was $737.2 million [5]. Business Outlook - MPS projects Q4 2025 revenue in the range of $730.0 million to $750.0 million, with GAAP gross margin expected between 54.9% and 55.5% [7][26]. - Non-GAAP gross margin is projected to be between 55.2% and 55.8% [7][27].