Did Monolithic Power beat or miss consensus estimates last quarter?

What is the market's earnings forecast for Monolithic Power next quarter?

What factors drove the changes in Monolithic Power's revenue and profit?

What does Monolithic Power do and what are its main business segments?

What were the key takeaways from Monolithic Power’s earnings call?

What is the revenue and EPS growth rate for Monolithic Power year over year?

What guidance did Monolithic Power's management provide for the next earnings period?

What were the key takeaways from Monolithic Power's earnings call?

- **Record Growth**: 2025 revenue up 26.4% to $2.8 billion, Q4 at $751M (20.8% YoY).
- **Enterprise Data Surge**: 50%+ YoY growth expected in 2026, driven by AI and server demand.
- **Dividend Boost**: 28% increase to $2/share, with 72% free cash flow returned to shareholders.
- **Automotive Expansion**: 43% YoY growth in 2025, 48V zonal solutions and ADAS adoption accelerating.
- **Strategic Positioning**: $4B+ geographically balanced capacity, 800V power solution sampling, and vertical integration to enhance margins.

**【Management Opening Remarks】**
- Bernie Blegen, CFO, announced his retirement after 15 years, with Rob Dean transitioning to interim CFO.
- 2025 revenue reached $2.8 billion (26.4% YoY growth), with Q4 revenue of $751.2 million (20.8% YoY growth).
- Key achievements: $4 billion+ geographically balanced capacity, record module revenue, and 800V power solution sampling for data centers.
- Quarterly dividend increased 28% to $2 per share, with 72% of free cash flow returned to shareholders over 3 years.

**【CEO Commentary】**
- Enterprise Data segment growth projected at 50%+ YoY in 2026, driven by design wins and capacity expansion.
- Automotive segment grew 43% YoY in 2025, with focus on 48V zonal architectures and kilowatt-level controllers.
- Optical module business ramped to ~5% of sales in 2025, with continued growth in 2026.
- Emphasis on vertical integration, including silicon carbide and GaN solutions, to maintain competitive edge.

**【CFO Financial Commentary】**
- Q4 2025 GAAP net income: $420 million; Non-GAAP EPS: $1.08 (exceeded expectations).
- Book-to-bill ratio >1.0, with extended backlog into Q2/Q3 2026.
- Gross margin target of 55-60%, currently at 55.5-55.8% (low end of range).
- OpEx growth slower than revenue, maintaining R&D efficiency.

**【Q&A Highlights】**
- **Enterprise Data**: 50%+ YoY growth expected in 2026, driven by server tailwinds and design wins.
- **Automotive**: 48V zonal solutions and ADAS adoption to fuel growth, despite slow industry adoption rates.
- **Supply Chain**: No capacity constraints; focus on long-term partnerships to support growth.
- **Gross Margin**: Sequential improvements expected in 2026 as backlog utilization increases.
- **Vertical Integration**: Transition to systems/providers to enhance ASPs and margins, with packaging innovations doubling current density.

Monolithic Power Systems, Inc. (MPWR) Q4 2025 Earnings Call Transcript

- **Record Q3 Revenue**: $737M (+18.9% YoY), driven by automotive ADAS, robotics BMS, and enterprise data modules.
- **Gross Margin Stability**: Mid-55% range maintained despite short-term demand volatility.
- **Strategic Wins**: 
  - First full BMS solution for robotics
  - 800V DC power systems targeting 2027
  - EV BMS and traction inverters ramping 2026
- **Growth Catalysts**: 
  - 30-40% 2026 CAGR in enterprise data modules
  - Robotics and EV BMS solutions
  - 48V automotive power systems

**【CFO Financial Overview】**
- Q3 2025 revenue reached $737.2 million, up 10.9% sequentially and 18.9% year-over-year, driven by diversified market strategy.
- Record performance across all end markets, including automotive (new Tier 1 ADAS design win) and robotics (first full BMS solution win).
- Gross margin maintained mid-55% range, with stability due to short-term demand visibility.

**【CEO Strategic Highlights】**
- Transitioning from chip-only supplier to full silicon-based solutions, exemplified by enterprise data modules and zonal automotive electronics.
- Robotics and EV BMS solutions expected to ramp in 2026, with 800V DC power systems targeting 2027+.
- Automotive content expansion: 48V systems, power isolation, and silicon carbide traction inverters.

**【Q&A Key Themes】**
1. **Enterprise Data Growth**: 
- Module shipments growing faster than discrete chips, with 30-40% 2026 revenue CAGR.
- Design wins in AI/ML accelerators and HPC power delivery systems.
2. **Gross Margin Dynamics**: 
- Mid-55% range stable due to short-term order visibility; long-term margin expansion via automation and test equipment.
3. **New Market Opportunities**: 
- Robotics BMS solutions for industrial automation.
- EV BMS and traction inverters targeting 2027+.
4. **Supply Chain & Inventory**: 
- Channel inventory at 5-8 weeks, aligned with quick-turn business model.
5. **Competitive Positioning**: 
- Leading in high-density, high-efficiency power solutions; no material impact from GaN/SiC in near term.

Monolithic Power Systems, Inc. (MPWR) Q3 2025 Earnings Call Transcript

- **Record Q2 Growth**: $664.6M (+31% YoY), driven by AI, automotive, and diversified markets.
- **ED Segment Strength**: Q3 +20-30% growth; $4B SAM target intact with 48V/800V solutions.
- **Automotive Expansion**: New platforms ramping in Q3-Q4; 48V zonal architecture focus.
- **Risk Management**: Cautious on storage/compute due to historical volatility; low inventory flexibility.
- **Diversification Success**: <5% single customer concentration; 50% non-China supply chain.

**【CFO Opening Remarks】**
- **Q2 2025 Results**: Record revenue of $664.6 million (+4.2% QoQ, +31.0% YoY), driven by diversified end market growth.
- **AI Momentum**: Initial shipments of power solutions for customers' ASIC-based AI products.
- **Strategic Focus**: Innovation, new market expansion, and supply chain diversification to 50% non-China capacity.
- **Gross Margin Outlook**: Improvement expected in the second half of 2025.

**【Q&A Highlights】**
- **Enterprise Data (ED) Growth**: 
  - Q3 guidance: 20-30% sequential growth; Q4 expected to be up sequentially.
  - $4B SAM target remains valid; 48V and 800V systems to drive long-term opportunities.
- **Automotive Segment**: 
  - Q2 growth significant; Q3-Q4 ramps for new platforms.
  - Long-term focus on 48V zonal architectures and energy storage solutions.
- **Storage & Compute Caution**: 
  - Sequential growth in Q2, but cautious for Q3 due to high Q1-Q2 volumes and historical volatility.
- **Customer Diversification**: 
  - Moving to <5% single customer concentration; diversified end markets (enterprise, automotive, industrial).
- **Capacity & Inventory**: 
  - $4B revenue capacity with 50% non-China; low inventory levels supporting demand.
- **New Product Contributions**: 
  - Modules: 10-15% of revenue in 2026; eMotion: growing but slower than overall; data converters: minimal impact.


Monolithic Power Systems, Inc. (MPWR) Q2 2025 Earnings Call Transcript

- **Record Q1 Growth**: $637.6M revenue (+39% YoY), driven by 38% QoQ jump in storage/compute and 13% QoQ automotive expansion.
- **H2 Enterprise Data Confidence**: Design wins ramping, but timing uncertain. 2025 outlook flat ±20%.
- **Automotive Momentum**: 3rd straight quarter of double-digit growth, with BMS adoption accelerating.
- **AI & Systems Expansion**: 400V rack power modules (2026+), medical imaging systems in qualification.
- **Supply Chain Resilience**: >50% manufacturing outside China, no direct tariff impact.

**【CFO Financial Highlights】**
- Q1 2025 revenue reached $637.6 million, up 39.2% YoY, driven by storage/compute (+38% QoQ) and automotive (+13% QoQ). 
- Enterprise data segment shows sequential improvement with design wins expected to ramp in H2.
- Automotive revenue growth continues for 3rd consecutive quarter, supported by 48V/800V transitions and BMS adoption.
- Gross margin guidance for Q2 is conservative due to mix shifts, but new products maintain >corporate average margins.

**【CEO Strategic Focus】**
- Transitioning from chip-only supplier to full-system solutions provider (e.g., 400V rack power modules, medical imaging systems).
- Diversified supply chain with >50% manufacturing outside China post-pandemic.
- AI investments prioritized for enterprise data and robotics opportunities.

**【Q&A Key Takeaways】**
- Enterprise data: H2 ramp visibility improving, but timing dependent on customer schedules. 2025 outlook remains flat ±20%.
- Automotive: China leads 48V/800V adoption, but all regions showing content growth. BMS contribution to auto segment expected to accelerate.
- Storage/compute: DDR5 memory and notebook demand sustain growth, offsetting seasonal headwinds.
- Tariffs: No direct cost impact; diversified supply chain mitigates risk.
- New products: 400V rack power modules (600kW+ capacity) targeting 2026 revenue, medical imaging systems in qualification phase.

Monolithic Power Systems (MPWR)-1 May 25-2025 Q1 Earnings call transcript

- **Q4 Revenue Soars 37% YoY**: Driven by automotive, communications, and notebook innovations.
- **$2.2B Annual Revenue**: 21% YoY growth with 13 straight years of expansion.
- **Silicon Carbide Expansion**: 2025+ ramp of clean energy inverters and multi-geo applications.
- **Shareholder Returns Boost**: 25% dividend hike and $500M buyback authorization.
- **2025 Outlook**: Automotive/communications growth; enterprise data flat/slightly up; hyperscaler ramps H2.
- **$1B+ TAM**: Multiple billion-dollar opportunities in enterprise data and silicon carbide.

**【CFO Financial Summary】**
- **Record Q4 Revenue**: $621.7 million, up 37% YoY, driven by diversified market strategy and innovation.
- **Full Year Growth**: 2024 revenue of $2.2 billion (+21% YoY), with 13 consecutive years of growth.
- **Key Product Wins**: 
  - Silicon carbide inverters for clean energy (ramping late 2025+). 
  - Automotive audio solutions from Axign acquisition. 
  - Notebook battery management and mini phase power stages. 
  - High-accuracy 24-bit ADCs (ramping H2 2025). 
- **Shareholder Returns**: 
  - 25% dividend increase to $1.56/share. 
  - $640M share buyback completed in Q4; new $500M 3-year buyback authorized. 
  - 86% of 3-year free cash flow returned to shareholders via buybacks and dividends.

**【Q&A Key Highlights】**
- **Q1 2025 Outlook**: 
  - Automotive and communications segments expected to grow. 
  - Notebooks and industrial/consumer products may see uplift from delayed design wins. 
  - Enterprise data segment likely flat or slightly up, with hyperscaler product launches in H2.
- **Long-Term Growth**: 
  - Multiple billion-dollar opportunities in enterprise data and silicon carbide applications. 
  - Broad engagement with hyperscalers, though exact ramp timing uncertain.
  - Automotive design wins set to ramp post-2025 delays.
- **Supply Chain**: Strong quality and supply availability for enterprise data products.


Monolithic Power Systems (MPWR)-6 Feb 25-2024 Q4 Earnings call transcript

Monolithic Power Systems (MPWR)-30 Oct 24-2024 Q3 Earnings call transcript

Monolithic Power System (MPWR)-1 Aug 24-2024 Q2 Earnings call transcript

Monolithic Power System (MPWR)-1 May 24-2024 Q1 Earnings call transcript

Monolithic Power System (MPWR)-7 Feb 24-2023 Q4 Earnings call transcript

Monolithic Power System (MPWR)-30 Oct 23-2023 Q3 Earnings call transcript

Monolithic Power System (MPWR)-31 Jul 23-2023 Q2 Earnings call transcript

Monolithic Power System (MPWR)-4 May 23-2023 Q1 Earnings call transcript

Monolithic Power System (MPWR)-8 Feb 23-2022 Q4 Earnings call transcript

Monolithic Power System (MPWR)-28 Oct 22-2022 Q3 Earnings call transcript

Monolithic Power System (MPWR)-2 Aug 22-2022 Q2 Earnings call transcript

Monolithic Power System (MPWR)-3 May 22-2022 Q1 Earnings call transcript

Monolithic Power System (MPWR)-11 Feb 22-2021 Q4 Earnings call transcript

Monolithic Power System (MPWR)-29 Oct 21-2021 Q3 Earnings call transcript

Monolithic Power System (MPWR)-28 Jul 21-2021 Q2 Earnings call transcript

Monolithic Power System (MPWR)-5 May 21-2021 Q1 Earnings call transcript

Monolithic Power System (MPWR)-5 Feb 21-2020 Q4 Earnings call transcript

Monolithic Power System (MPWR)-29 Oct 20-2020 Q3 Earnings call transcript

Monolithic Power System (MPWR)-28 Jul 20-2020 Q2 Earnings call transcript

Monolithic Power System (MPWR)-28 Apr 20-2020 Q1 Earnings call transcript

Monolithic Power System (MPWR)-5 Feb 20-2019 Q4 Earnings call transcript

Monolithic Power System (MPWR)-23 Oct 19-2019 Q3 Earnings call transcript

Monolithic Power System (MPWR)-31 Jul 19-2019 Q2 Earnings call transcript

Monolithic Power System (MPWR)-5 May 19-2019 Q1 Earnings call transcript

Monolithic Power System (MPWR)-12 Feb 19-2018 Q4 Earnings call transcript

Monolithic Power System (MPWR)-25 Oct 18-2018 Q3 Earnings call transcript

Monolithic Power System (MPWR)-25 Jul 18-2018 Q2 Earnings call transcript

Monolithic Power System (MPWR)-30 Apr 18-2018 Q1 Earnings call transcript

Monolithic Power System (MPWR)-8 Feb 18-2017 Q4 Earnings call transcript

Monolithic Power System (MPWR)-28 Oct 17-2017 Q3 Earnings call transcript

Actual											0.95	1.08	1.69	1.31	1.46	1.81	2.06	2.12	2.45	3.25	3.53	3.17	3	2.82	3.08	2.88	2.81	3.17	4.06	4.09	4.04	4.21	4.73	4.79
Forecast											0.9427	0.9977	1.6791	1.2443	1.3408	1.6915	1.9983	1.8759	2.2586	2.9424	3.4991	3.1344	2.9836	2.7992	3.0617	2.8462	2.6612	3.0671	3.97	3.9769	4.0142	4.1221	4.6374	4.7414
Surprise	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	+0.77%	+8.25%	+0.65%	+5.28%	+8.89%	+7.01%	+3.09%	+13.01%	+8.47%	+10.45%	+0.88%	+1.14%	+0.55%	+0.74%	+0.60%	+1.19%	+5.59%	+3.35%	+2.27%	+2.84%	+0.64%	+2.13%	+2.00%	+1.03%

MPWR

MPWR fundamentals

MPWR Q4 2025 Earnings

Earnings Call

You can ask Aime

MPWR

MPWR fundamentals

MPWR Q4 2025 Earnings

Earnings Call

MPWR Earnings Call Summary for Q4/20255:00 PM on Feb 5, 2026

MPWR Earnings Call Summary for Q3/20255:00 PM on Oct 30, 2025

MPWR Earnings Call Summary for Q2/20255:00 PM on Jul 31, 2025

MPWR Earnings Call Summary for Q1/20255:00 PM on May 1, 2025

MPWR Earnings Call Summary for Q4/20245:00 PM on Feb 6, 2025

You can ask Aime