Monolithic Power Systems Q3 Revenue Jumps 63% to a Record $1.2 Billion as Enterprise Data Sales Surge 165%
Monolithic Power Systems, Inc. (MPS, Nasdaq: MPWR) reported third-quarter 2026 results after the market close on October 29, with revenue of $1,202.4 million, up 22.6% from the second quarter and 63.1% from a year earlier — the first quarter in which the company's revenue exceeded $1 billion. GAAP net income was $271.1 million, or $5.51 per diluted share; non-GAAP net income was $402.7 million, or $8.19 per diluted share.
By end market, Enterprise Data revenue was $506.7 million, up 33.2% sequentially and 164.6% year over year, representing 42.1% of total revenue, driven by higher sales of power management solutions for server applications. Communications revenue was $187.4 million, up 134.7% year over year; Automotive revenue was $180.7 million, up 19.2%; Storage and Computing revenue was $192.2 million, up 3.0%; Industrial revenue was $71.4 million, up 29.0%; and Consumer revenue was $64.0 million, down 11.6%.
"Overall, we see accelerated growth. Our diversified growth strategy is paying off," said Michael Hsing, founder and CEO of MPS. The company said its capacity now supports more than $6 billion in annual revenue, that it expects $8 billion of capacity in place by the second half of 2027 on the way to $10 billion, that its 48V automotive power solutions have received first orders, and that robotics solutions have begun ramping across multiple geographies.
MPS generated operating cash flow of $289.9 million in the quarter and ended it with $1,091 million in cash, cash equivalents and short-term investments. The company repurchased $453.4 million of its stock during the quarter, and in October its board authorized an additional $500 million for repurchases, bringing the total current authorization to $1 billion.
For the fourth quarter of 2026, MPS forecast revenue of $1,315 million to $1,385 million, GAAP gross margin of 55.2% to 55.8%, non-GAAP gross margin of 55.5% to 56.1%, and a non-GAAP tax rate of 15%.
Source: GSM · USA (original Chinese edition)
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