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Sep 30, 2025
Power Integrations Q3 2025 Earnings Report
Power Integrations reported its third-quarter financial results, with revenues increasing three percent year-over-year to $119 million and cash flow from operations at $30 million.
Key Takeaways
Power Integrations delivered a solid third quarter in 2025, with net revenues reaching $118.9 million, a three percent increase both sequentially and year-over-year. Despite a GAAP net loss of $1.4 million, non-GAAP net income was $20.2 million, or $0.36 per diluted share. The industrial business showed strong growth, while consumer appliance orders were soft. The company also repurchased $42.4 million in shares and announced a dividend increase for 2026.
Net revenues for Q3 2025 were $118.9 million, up three percent year-over-year.
GAAP net loss was $1.4 million ($0.02 per diluted share), while non-GAAP net income was $20.2 million ($0.36 per diluted share).
The industrial business segment experienced a 20 percent year-over-year increase in the third quarter.
The company repurchased $42.4 million of shares and increased its quarterly dividend to $0.215 per share for 2026.
Revenue by Segment
Forward Guidance
For the fourth quarter of 2025, Power Integrations expects revenues to be between $100 million and $105 million. GAAP gross margin is projected to be 53% to 53.5%, and non-GAAP gross margin between 53.5% and 54%. GAAP operating expenses are anticipated to be approximately $56 million, with non-GAAP operating expenses around $47 million.
Positive Outlook
- Anticipated non-GAAP gross margin of 53.5% to 54% for Q4 2025.
- Continued focus on secular growth opportunities in high voltage, including GaN, grid modernization, electric transportation, and data centers.
- Collaboration with NVIDIA on 800 VDC power architecture for next-gen AI data centers.
- Board of directors increased the quarterly dividend to $0.215 per share for each of the four quarters of 2026.
- Industrial business remains on track for strong growth in 2025.
Challenges Ahead
- Expected revenue decline in Q4 2025, with a range of $100 million to $105 million, compared to $118.9 million in Q3 2025.
- Consumer appliance orders continue to be soft.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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