Monolithic Power Q4 2021 Earnings Report
Key Takeaways
Monolithic Power Systems (MPS) announced its Q4 and full-year 2021 financial results, demonstrating significant revenue and earnings growth. Q4 revenue reached $336.5 million, a 44.4% increase year-over-year, while GAAP net income was $72.7 million, or $1.51 per diluted share. The company's performance was supported by a 40% increase in fab and assembly capacity.
Revenue for Q4 2021 was $336.5 million, up 44.4% year-over-year.
GAAP gross margin for Q4 2021 was 57.6%, compared to 55.3% in Q4 2020.
GAAP net income for Q4 2021 was $72.7 million, or $1.51 per diluted share, compared to $42.9 million, or $0.90 per diluted share, in Q4 2020.
The board of directors approved an increase in the quarterly cash dividend from $0.60 per share to $0.75 per share.
Monolithic Power
Monolithic Power
Forward Guidance
For the first quarter ending March 31, 2022, MPS projects revenue between $354.0 million and $366.0 million and GAAP gross margin between 57.4% and 58.0%.
Positive Outlook
- Revenue in the range of $354.0 million to $366.0 million.
- GAAP gross margin between 57.4% and 58.0%.
- Non-GAAP gross margin between 57.7% and 58.3%, excluding stock-based compensation expenses.
- Interest income of $1.0 million to $1.4 million.
- Fully diluted shares outstanding between 47.8 million and 48.8 million.
Challenges Ahead
- GAAP research and development and selling, general and administrative expenses between $119.2 million and $123.2 million.
- Non-GAAP R&D and SG&A expenses between $83.4 million and $85.4 million, excluding stock-based compensation expenses.
- Total stock-based compensation expense of $36.9 million to $38.9 million.
- Litigation expense of $2.3 million to $2.7 million.
- Potential impact of stock-based compensation expenses on gross margin and R&D and SG&A expenses.