Monolithic Power Q2 2024 Earnings Report
Key Takeaways
Monolithic Power Systems announced financial results for the quarter ended June 30, 2024, with revenue reaching $507.4 million, a 15.0% increase compared to the same quarter last year. GAAP net income was $100.4 million, or $2.05 per diluted share, slightly up from $99.5 million, or $2.04 per diluted share, in Q2 2023.
Revenue increased by 15.0% year-over-year to $507.4 million.
GAAP gross margin was 55.3%, compared to 56.1% in the same quarter last year.
GAAP operating income was $116.5 million, compared to $112.3 million for the same quarter last year.
GAAP net income was $100.4 million, or $2.05 per diluted share, compared to $99.5 million, or $2.04 per diluted share, for the same quarter last year.
Monolithic Power
Monolithic Power
Forward Guidance
MPS provided financial targets for the third quarter ending September 30, 2024, including revenue in the range of $590.0 million to $610.0 million and GAAP gross margin between 55.2% and 55.8%.
Positive Outlook
- Revenue in the range of $590.0 million to $610.0 million.
- GAAP gross margin between 55.2% and 55.8%.
- Non-GAAP gross margin between 55.5% and 56.1%.
- Interest and other income in the range of $6.1 million to $6.5 million before foreign exchange gains or losses.
- Fully diluted shares outstanding between 48.8 million and 49.2 million.