Monolithic Power Q2 2021 Earnings Report
Key Takeaways
Monolithic Power Systems reported a strong second quarter in 2021, with revenue reaching $293.3 million, a 57.5% increase compared to the same quarter last year. GAAP net income was $55.2 million, or $1.16 per diluted share, up from $30.2 million, or $0.64 per diluted share, in Q2 2020.
Revenue increased by 57.5% year-over-year, reaching $293.3 million.
GAAP gross margin improved to 56.0% compared to 55.1% in the same quarter last year.
GAAP operating income significantly increased to $60.6 million from $28.0 million year-over-year.
GAAP net income rose to $55.2 million, or $1.16 per diluted share, compared to $30.2 million, or $0.64 per diluted share, in the prior year.
Monolithic Power
Monolithic Power
Forward Guidance
For the third quarter ending September 30, 2021, MPS expects revenue in the range of $309 million to $321 million and GAAP gross margin to be in the range of 57.3% to 57.9%, including a one-time benefit from a litigation settlement.
Positive Outlook
- Revenue is projected to be between $309 million and $321 million.
- GAAP gross margin is expected to be in the range of 57.3% to 57.9%, including a one-time benefit.
- Non-GAAP gross margin is expected to be in the range of 57.6% to 58.2%, including a one-time benefit.
- Interest income is projected to be $1.0 million to $1.4 million.
- The company is well positioned to accelerate future revenue growth with planned capacity expansion and new parts released into production.
Challenges Ahead
- GAAP R&D and SG&A expenses are projected to be between $104.1 million and $108.1 million.
- Litigation expenses are expected to range between $2.3 million and $2.7 million.
- Total stock-based compensation expense is expected to be $31.2 million to $33.2 million.
- Fully diluted shares outstanding are expected to be between 47.4 million and 48.4 million.
- Non-GAAP R&D and SG&A expenses are projected to be between $73.9 million and $75.9 million, excluding stock-based compensation.