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Jun 30, 2020
Monolithic Power Q2 2020 Earnings Report
Reported a revenue increase of 23.3% year-over-year and a GAAP net income of $30.2 million.
Key Takeaways
Monolithic Power Systems (MPS) announced financial results for the quarter ended June 30, 2020. Revenue was $186.2 million, a 23.3% increase from the quarter ended June 30, 2019. GAAP net income was $30.2 million, or $0.64 per diluted share.
Revenue was $186.2 million, up 23.3% year-over-year.
GAAP gross margin was 55.1%, consistent with the previous year.
GAAP operating income was $28.0 million, compared to $20.1 million in the previous year.
GAAP net income was $30.2 million, or $0.64 per diluted share, compared to $20.7 million, or $0.45 per diluted share in the previous year.
Monolithic Power
Monolithic Power
Forward Guidance
MPS' financial targets for the third quarter ending September 30, 2020 include revenue in the range of $200 million to $210 million and GAAP gross margin between 55.2% and 55.8%.
Positive Outlook
- Revenue in the range of $200 million to $210 million.
- GAAP gross margin between 55.2% and 55.8%.
- Non-GAAP gross margin between 55.5% and 56.1%, excluding stock-based compensation expenses.
- Interest income of $1.5 million to $1.7 million.
- Fully diluted shares outstanding between 46.5 million and 47.5 million.
Challenges Ahead
- GAAP research and development and selling, general and administrative expenses between $70.7 million and $74.7 million.
- Non-GAAP R&D and SG&A expenses between $50.2 million and $52.2 million, excluding stock-based compensation expenses.
- Total stock-based compensation expense of $21.2 million to $23.2 million.
- Litigation expenses ranging between $1.8 million and $2.2 million.
- Uncertainty related to the COVID-19 pandemic and its potential impact on the global economy and MPS' business.