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Sep 30, 2022
Monolithic Power Q3 2022 Earnings Report
Monolithic Power Systems reported strong Q3 2022 results with revenue up 53.1% year-over-year.
Key Takeaways
Monolithic Power Systems announced its financial results for the quarter ended September 30, 2022, with revenue reaching $495.4 million, a 53.1% increase compared to the same quarter last year. GAAP net income was $124.3 million, or $2.57 per diluted share, while non-GAAP net income was $170.7 million, or $3.53 per diluted share.
Revenue was $495.4 million, up 53.1% year-over-year.
GAAP gross margin was 58.7%, compared to 57.6% in the same quarter last year.
GAAP operating income was $151.9 million, compared to $77.1 million in the same quarter last year.
GAAP net income was $124.3 million, or $2.57 per diluted share.
Monolithic Power
Monolithic Power
Monolithic Power Revenue by Segment
Revenue by Segment
Automotive Revenue
CapyFin.comCommunications Revenue
CapyFin.comConsumer Revenue
CapyFin.comIndustrial Revenue
CapyFin.com Forward Guidance
MPS provided financial targets for the fourth quarter ending December 31, 2022, including revenue in the range of $450.0 million to $470.0 million and GAAP gross margin between 58.1% and 58.7%.
Positive Outlook
- Revenue in the range of $450.0 million to $470.0 million.
- GAAP gross margin between 58.1% and 58.7%.
- Non-GAAP gross margin between 58.3% and 58.9%, excluding stock-based compensation expenses.
- Interest income of $1.1 million to $1.5 million.
- Fully diluted shares outstanding between 48.2 million and 49.2 million.
Challenges Ahead
- GAAP research and development and selling, general and administrative expenses between $131.0 million and $135.0 million.
- Non-GAAP R&D and SG&A expenses between $94.4 million and $96.4 million, excluding stock-based compensation expenses.
- Total stock-based compensation expense of $37.7 million to $39.7 million.
- Litigation expense of $1.3 million to $1.7 million.
- Business conditions are softening.
Revenue & Expenses
Visualization of income flow from segment revenue to net income