Power Integrations Q2 2024 Earnings Report
Key Takeaways
Power Integrations reported Q2 2024 financial results with revenues of $106.2 million, a GAAP EPS of $0.09, and a non-GAAP EPS of $0.28. Revenues increased by 16% from the prior quarter but decreased by 14% compared to Q2 2023. The company expects another sequential increase in the third quarter.
Second-quarter revenues were $106.2 million, up 16% from the prior quarter.
GAAP earnings per diluted share were $0.09, compared to $0.07 in the prior quarter.
Non-GAAP earnings per diluted share were $0.28, compared to $0.18 in the prior quarter.
Cash flow from operations for the second quarter was $17.6 million.
Power Integrations
Power Integrations
Power Integrations Revenue by Segment
Forward Guidance
The company issued the following forecast for the third quarter of 2024: Revenues are expected to be $115 million plus or minus $5 million. GAAP gross margin is expected to be between 53.5 percent and 54.0 percent; non-GAAP gross margin is expected to be between 54.5 percent and 55.0 percent. GAAP operating expenses are expected to be between $53.5 million and $54 million; non-GAAP operating expenses are expected to be between $44.5 million and $45 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income