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Monolithic Power Systems (MPWR) investor relations material
Monolithic Power Systems Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved fourteenth consecutive year of growth with 2025 revenue of $2.8 billion, up 26.4% year-over-year, and a 25.1% CAGR from 2018 to 2025, outpacing the industry average.
Q4 2025 revenue reached $751.2 million, up 1.9% sequentially and 20.8% year-over-year.
Non-GAAP diluted EPS for 2025 was $17.77, with consistent growth over recent years.
Announced CFO transition: Bernie Blegen retiring, Rob Dean appointed Interim CFO.
Increased quarterly dividend by 28% to $2 per share, effective Q1 2026.
Financial highlights
Full-year 2025 revenue: $2.8 billion, up 26.4% from 2024, with a five-year CAGR of 25.1%.
Q4 2025 non-GAAP net income was $235.3M ($4.79/diluted share), up from $198.4M in Q4 2024.
Full-year 2025 non-GAAP net income was $858.4M ($17.77/diluted share).
Free cash flow for 2025 was $663.6M, with over 72% returned to shareholders from 2022 to 2025.
Non-GAAP gross margin for 2025 was 55.5%, with a five-year average of 56.7%.
Outlook and guidance
Q1 2026 revenue expected between $770M and $790M.
Book-to-bill ratio well above one, with backlog extending into Q2 and Q3 2026.
Enterprise data segment expected to grow at least 50% in 2025, with strong demand in AI, communications, and automotive into 2026.
Gross margin improvement anticipated as backlog visibility increases.
Non-GAAP tax rate for 2026 projected at 15%.
- Shareholders approved annual director elections and all proposals, with no questions raised.MPWR
AGM 20243 Feb 2026 - Q2 revenue up 15% to $507.4M, with strong AI demand and Q3 outlook of $590M–$610M.MPWR
Q2 20242 Feb 2026 - Q3 2024 revenue surged 30.6% year-over-year to $620.1M, led by AI and enterprise data growth.MPWR
Q3 202417 Jan 2026 - Record 2024 revenue, strong auto/comms growth, flat enterprise data, dividend up to $1.56.MPWR
Q4 20248 Jan 2026 - Q1 2025 revenue surged 39% year-over-year, with strong net income and margin gains.MPWR
Q1 202525 Dec 2025 - Double-digit growth and margin leadership fueled by innovation in AI and automotive.MPWR
Investor Day 20251 Dec 2025 - Proxy covers director elections, board declassification, pay-for-performance, and ESG targets.MPWR
Proxy Filing1 Dec 2025 - Proxy covers director elections, board declassification, ESG-linked pay, and enhanced shareholder rights.MPWR
Proxy Filing1 Dec 2025 - Proxy covers director elections, executive pay, auditor ratification, and voting rights.MPWR
Proxy Filing1 Dec 2025
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