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Monolithic Power Systems 8-K Report, Financial Results (Apr 30, 2026)

Reports
Earnings & Results·Exhibits & Filings
Filing Date
Filed April 30, 2026
Period End
April 30, 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 April 30, 2026. Cited figures are marked; the original filing is the authoritative source.

Monolithic Power Systems (MPS) reported record first-quarter 2026 revenue of $804.2 milliona, up 7.1% sequentially and 26.1% year over year, driven primarily by Enterprise Data (up 12.6% QoQ and nearly doubled YoY to $262.8 million) and Communications (up 33.1% QoQ to $111.5 million, on optical modules and switches).

GAAP operating margin expanded to 30.0% from 26.6% in Q4 2025, with GAAP diluted EPS of $3.92b versus $3.49 a quarter earlier; non-GAAP diluted EPS was $5.10. Gross margin held steady at roughly 55%, while GAAP operating expenses fell 4.9% sequentially on lower stock-based compensation ($48.5 million versus $66.9 million). Balance sheet and cash generation were strong.

Operating cash flow rose to $250.3 millionc from $104.9 million, and cash plus short-term investments reached $1,367.1 million. However, working capital metrics warrant monitoring: accounts receivable days rose to 34 from 31, and internal inventories climbed to $619.2 million (157 days of current-quarter revenue, up from 153). Management stated that days of inventory on next-quarter revenue improved to 140 days.

For Q2 2026, management guided revenue of $890 million to $910 milliond, implying continued sequential growth, with non-GAAP gross margin of 55.3% to 55.9% and non-GAAP operating expenses of $167 million to $171 million. The filing also notes that the company is working to remediate a material weakness in internal controls, and the Form 8-K was signed by Robert Dean as Interim Chief Financial Officer, a leadership detail investors should watch. The results are furnished under Item 2.02 rather than filed, and the company disclosed that it has no single headquarters location.

02—Key points

Key Highlights

  1. Record quarterly revenue of $804.2 million, up 7.1% QoQ and 26.1% YoY, beating the prior-quarter trajectory across most end markets.
  2. Enterprise Data revenue of $262.8 million rose 12.6% QoQ and 97.7% YoY, now 32.7% of total revenue, reflecting AI and server power demand.
  3. Communications revenue jumped 33.1% QoQ to $111.5 million on optical module and switch power solutions.
  4. GAAP operating margin improved to 30.0% from 26.6% in Q4 2025; GAAP diluted EPS was $3.92 versus $3.49, and non-GAAP diluted EPS was $5.10.
  5. Operating cash flow of $250.3 million versus $104.9 million in Q4 2025; cash and short-term investments reached $1,367.1 million.
  6. Inventory rose to $619.2 million (157 days of current-quarter revenue) and receivable days increased to 34, which bears watching against revenue growth.
  7. Q2 2026 guidance calls for revenue of $890–910 million and non-GAAP gross margin of 55.3%–55.9%; the filing also flags an ongoing material weakness remediation and an interim CFO.

03—Questions

Frequently Asked Questions

  1. How strong was MPS's Q1 2026 performance relative to the prior quarter and prior year?

    Revenue reached a record $804.2 million, up 7.1% from Q4 2025 and 26.1% from Q1 2025. GAAP net income rose to $193.2 million from $171.7 million sequentially and from $135.1 million a year earlier, and GAAP diluted EPS was $3.92 versus $3.49 and $2.81 respectively.

  2. What drove the revenue growth this quarter?

    Growth was led by Enterprise Data (AI and server power management, up 12.6% sequentially) and Communications (optical modules and switches, up 33.1% sequentially). Storage and Computing and Automotive also improved sequentially, while Consumer and Industrial declined.

  3. Are there any concerns in the balance sheet or working capital?

    Accounts receivable days increased to 34 from 31, and internal inventories rose to $619.2 million from $564.6 million, equal to 157 days of current-quarter revenue. Management noted that inventory days on next-quarter revenue improved to 140, but investors should monitor whether inventory growth outpaces revenue.

  4. What is the outlook for Q2 2026?

    Management forecasts revenue of $890 million to $910 million, GAAP gross margin of 55.1% to 55.7%, and non-GAAP operating expenses of $167 million to $171 million, with non-GAAP tax rate of 15% for 2026 and 49.1 to 49.5 million diluted shares.

  5. Why does the filing mention an interim CFO and a material weakness?

    The 8-K is signed by Robert Dean as Interim Chief Financial Officer, and the forward-looking statements reference the company's ability to remediate a material weakness in its internal controls. Investors should review the company's SEC disclosures for details on the weakness and the status of the CFO search.

04—Continue

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