MPS(US:MPWR)2025-07-31 22:00Financial Data and Key Metrics Changes - MPS achieved record quarterly revenue of $664.6 million, which is 4.2% higher than Q1 2025 and 31% higher than Q2 2024 [3][4] - The company continues to see diversified revenue growth across all markets, reflecting a strong demand profile [4] Business Line Data and Key Metrics Changes - Storage and compute revenue grew sequentially, driven by demand for memory and notebook power solutions [4] - The enterprise data segment is expected to grow between 20% to 30% sequentially in Q3 2025, with a seasonal uplift in consumer markets [8][16] Market Data and Key Metrics Changes - The company is seeing strong demand across all end markets, with enterprise data and AI ASIC programs starting to ramp up [10][11] - The automotive segment is anticipated to flatten in the middle of the year but is expected to pick up in Q3 and Q4 as new content opportunities come online [32] Company Strategy and Development Direction - MPS is transforming from a chip-only semiconductor supplier to a full-service silicon-based solutions provider, focusing on innovation and solving customer challenges [4][5] - The company is investing in new technology and expanding into new markets to capture future growth opportunities [4] Management's Comments on Operating Environment and Future Outlook - Management remains cautiously optimistic about the outlook for the remainder of the year, citing strong demand across all end markets despite short lead times affecting backlog visibility [21][22] - The company is not currently seeing significant impacts from macroeconomic uncertainties or tariff-related activities [39][40] Other Important Information - The company is focusing on maintaining supply chain stability and adapting swiftly to market changes [5] - Inventory levels are low, and the company is expanding its supply chains to meet customer demand [75][76] Q&A Session Summary Question: Can you provide insights on the September guidance and the six end markets? - Management indicated enterprise data is expected to grow between 20% to 30% sequentially, with other lines of business showing high single-digit growth [8] Question: What is the status of AI ASIC programs? - Multiple customers are engaged, and the company has many design wins, indicating a positive outlook for the enterprise data market [10][11] Question: Can you comment on the enterprise data guidance for the full year? - The market remains dynamic, and while Q4 guidance is not provided, Q3 is expected to grow sequentially [16][18] Question: How does the company view macroeconomic uncertainties? - Management focuses on internal execution and customer demands, stating that market conditions are being managed effectively [20][21] Question: What is the outlook for the automotive segment? - The automotive segment is expected to see growth in Q3 and Q4, driven by new content opportunities [32][33] Question: Can you elaborate on customer concentration and growth opportunities? - The company is returning to a more diversified customer base, with no single customer expected to exceed 5% of sales [80][81] Question: What are the growth drivers for 2026? - The company anticipates broad-based growth, particularly in enterprise data opportunities [85]