Monolithic Power Q3 2023 Earnings Report
Key Takeaways
Monolithic Power Systems reported revenue of $474.9 million for Q3 2023, a 7.6% increase from the previous quarter and a 4.1% decrease from Q3 2022. GAAP net income was $121.2 million, or $2.48 per diluted share, compared to $124.3 million, or $2.57 per diluted share, in Q3 2022.
Revenue was $474.9 million, a 7.6% increase sequentially but a 4.1% decrease year-over-year.
GAAP gross margin was 55.5%, compared to 58.7% in the same quarter last year.
GAAP operating income was $135.6 million, compared to $151.9 million in the same quarter last year.
GAAP net income was $121.2 million, or $2.48 per diluted share.
Monolithic Power
Monolithic Power
Forward Guidance
For the fourth quarter ending December 31, 2023, MPS expects revenue in the range of $442.0 million to $462.0 million and GAAP gross margin between 55.2% and 55.8%.
Positive Outlook
- Revenue in the range of $442.0 million to $462.0 million.
- GAAP gross margin between 55.2% and 55.8%.
- Non-GAAP gross margin between 55.4% and 56.0%, excluding stock-based compensation expenses.
- GAAP operating expenses between $127.1 million and $131.1 million.
- Interest and other income of $4.1 million to $4.5 million.
Challenges Ahead
- Visibility to remain limited in the short term.
- Global economic downturn could impact results.
- Adverse changes in laws and government regulations.
- Effect of export controls and trade sanctions.
- Competition and industry cyclicality.