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Dec 31, 2024
Power Integrations Q4 2024 Earnings Report
Power Integrations reported its fourth-quarter and full-year financial results for 2024, with revenues increasing year-over-year and GAAP earnings per diluted share of $0.16.
Key Takeaways
Power Integrations reported a strong fourth quarter in 2024, with revenues increasing 18% year-over-year to $105.2 million. GAAP net income was $9.1 million, or $0.16 per diluted share, and non-GAAP net income was $17.2 million, or $0.30 per diluted share. The company also reported positive cash flow from operations of $14.7 million for the quarter.
Fourth-quarter 2024 revenues were $105.2 million, an 18% increase year-over-year.
GAAP net income for Q4 2024 was $9.1 million, or $0.16 per diluted share.
Non-GAAP net income for Q4 2024 was $17.2 million, or $0.30 per diluted share.
Cash flow from operations for the fourth quarter was $14.7 million.
Revenue by Segment
Forward Guidance
Power Integrations expects first-quarter 2025 revenues to be flat compared to Q4 2024, with a GAAP gross margin between 55% and 55.5% and non-GAAP gross margin between 55.5% and 56%. GAAP operating expenses are projected to be approximately $54 million, and non-GAAP operating expenses around $45 million.
Positive Outlook
- Revenues expected to be flat compared to the fourth quarter of 2024, plus or minus five percent.
- GAAP gross margin expected to be between 55 percent and 55.5 percent.
- Non-GAAP gross margin expected to be between 55.5 percent and 56 percent.
- Expect growth in a variety of end-markets in 2025, including renewable energy, high-voltage DC transmission, metering, automotive, and appliances.
- Products featuring proprietary PowiGaNT™ technology expected to contribute significant growth.
Challenges Ahead
- Demand outlook is cloudy.
- Uncertainty around trade policy.
- Potential changes and shifts in customer demand away from end products that utilize the company's integrated circuits.
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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