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Monolithic Power Systems 8-K Report, Financial Restatement (Feb 27, 2026)

Reports
Financial Events
Filing Date
Filed February 27, 2026
Period End
February 26, 2026
Security
MPWR
In the record · 2016–202610-K1110-Q338-K93

MPWR filed 11 annual reports (10-K), 33 quarterly reports (10-Q) and 93 current reports (8-K) between 2016 and 2026.

  1. Auditor change8-K · Mar ’19Mar ’19
  2. Leadership change8-K · May ’21May ’21
  3. Leadership change8-K · Oct ’24Oct ’24

01—Abstract

Summary

Summary of the 8-K filed February 27, 2026. Cited figures are marked; the original filing is the authoritative source.

Monolithic Power Systems, Inc. (MPWR) has filed an 8-K report on February 27, 2026, announcing that its previously issued financial statements for the fiscal year ended December 31, 2024, and interim periods in 2025, should no longer be relied upon.

This is due to an unintentional error related to the accounting for deferred income taxes associated with a foreign jurisdiction's tax incentive. The company emphasizes that this is a non-cash error and does not impact key operational metrics such as revenue, non-GAAP gross margin, non-GAAP operating expenses, non-GAAP net income, and non-GAAP diluted net income per share.

The restatement primarily affects the "income tax benefit, net" and "deferred income taxes," resulting in a decrease of $195 milliona for the year ended December 31, 2024. The company will file its 2025 Form 10-K shortly to include these restated financials.

02—Key points

Key Highlights

  1. Previously issued financial statements for FY2024 and interim 2025 periods are deemed unreliable and will be restated.
  2. The restatement is due to an unintentional error in accounting for deferred income taxes related to a foreign tax incentive.
  3. The error is non-cash in nature.
  4. Key operational metrics like revenue, non-GAAP gross margin, and non-GAAP net income are unaffected.
  5. The restatement results in a $195 million decrease to income tax benefit, net for the year ended December 31, 2024.
  6. Restated financial statements will be included in the upcoming 2025 Form 10-K filing.
  7. No misconduct by management or employees is involved in the error.

03—Questions

Frequently Asked Questions

  1. What is the primary reason for restating previously issued financial statements?

    The company is restating its financial statements due to an unintentional error in accounting for deferred income taxes associated with a tax incentive granted by a foreign jurisdiction. This correction impacts prior year financial reporting.

  2. Will this restatement affect Monolithic Power Systems' operational performance or key financial metrics?

    No, the company states that the error is non-cash and does not impact key operational metrics such as revenue, non-GAAP gross margin, non-GAAP operating expenses, non-GAAP net income, and non-GAAP diluted net income per share. Therefore, the underlying business performance metrics remain unchanged.

  3. What is the financial impact of this restatement?

    For the year ended December 31, 2024, the restatement results in a decrease to income tax benefit, net, and deferred income taxes by $195 million. For the year ended December 31, 2025, there is a decrease of $5.5 million to income tax expense, net, and a corresponding increase to net income.

  4. What is the company doing to address this issue?

    Monolithic Power Systems is restating its financial statements for the affected periods and will file its 2025 Form 10-K with the SEC, which will include the corrected consolidated financial statements. The Audit Committee and senior management have discussed the matter with the company's independent auditors, Ernst & Young LLP.

04—Continue

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