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Mar 31, 2022
Monolithic Power Q1 2022 Earnings Report
Monolithic Power Systems' Q1 2022 results were announced, demonstrating substantial revenue growth and improved profitability.
Key Takeaways
Monolithic Power Systems (MPS) reported a strong first quarter in 2022, with revenue reaching $377.7 million, a 48.4% increase year-over-year. The company's GAAP gross margin improved to 57.9%, and GAAP net income was $79.6 million, or $1.65 per diluted share.
Revenue increased by 48.4% year-over-year, reaching $377.7 million.
GAAP gross margin improved to 57.9% compared to 55.4% in the previous year.
GAAP operating income significantly increased to $96.1 million, compared to $46.1 million in the previous year.
GAAP net income was reported at $79.6 million, or $1.65 per diluted share.
Monolithic Power
Monolithic Power
Forward Guidance
For the second quarter ending June 30, 2022, MPS projects revenue between $420.0 million and $440.0 million and GAAP gross margin between 58.4% and 59.0%.
Positive Outlook
- Revenue in the range of $420.0 million to $440.0 million.
- GAAP gross margin between 58.4% and 59.0%.
- Non-GAAP gross margin between 58.7% and 59.3%, excluding stock-based compensation expenses.
- Interest and other income of $1.3 million to $1.7 million.
- Fully diluted shares outstanding between 47.8 million and 48.8 million.
Challenges Ahead
- GAAP research and development and selling, general and administrative expenses between $132.7 million and $136.7 million.
- Non-GAAP R&D and SG&A expenses between $90.0 million and $92.0 million, excluding stock-based compensation expenses.
- Total stock-based compensation expense of $44.2 million to $46.2 million.
- Litigation expense of $2.3 million to $2.7 million.
- Potential impact of global economic factors and the semiconductor industry's cyclical nature.