Companies · MPWR
Monolithic Power Systems
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Latest analysis
Updated Aug 5, 2026
MPS enterprise data revenue surged 164% YoY to $380.6M; AI/server demand driving structural growth shift.
Monolithic Power Systems delivered $980.6 million in Q2 2026 revenue, up 47.6% year-over-year, with enterprise data end market revenue jumping 164.3% to $380.6 million driven by AI and server power management solutions. Gross margin held steady at 55.2% despite 47.6% revenue growth, indicating strong operational leverage and pricing power on higher-mix power solutions versus discrete ICs. Operating leverage accelerated with operating income reaching 31.0% of revenue, up 620 basis points YoY, as R&D and SG&A delevered materially to 12.1% and 12.1% of revenue respectively from 14.5% and 15.8% in the prior year period.
Tone: bullishRevenue
$2.8B
MPWR 10-K · FY 2025
Employees
4,501
Revenue FY2024
$2.2B
Founded
1997
Profile
MPWR 10-K Item 1 · Feb 27, 2026Monolithic Power Systems (MPS) is a fabless global semiconductor company specializing in high-performance, analog and mixed-signal power electronics solutions. Founded in 1997, it serves storage and computing, enterprise data, automotive, communications, consumer, and industrial end markets. MPS differentiates through proprietary process and packaging technologies that enable highly integrated, energy-efficient, single-chip power management solutions.
Read filing description ↓ Collapse description ↑
Monolithic Power Systems, Inc. is a fabless global company that provides high-performance, semiconductor-based power electronics solutions. Incorporated in 1997, our three core strengths include deep system-level knowledge, strong semiconductor design expertise, and innovative proprietary technologies in the areas of semiconductor processes, system integration, and packaging. These combined advantages enable us to deliver reliable, compact, and monolithic solutions found in storage and computing, enterprise data, automotive, industrial, communications and consumer applications. Our mission is to reduce energy and material consumption to improve all aspects of quality of life and create a sustainable future. We believe that we differentiate ourselves by offering solutions that are more highly integrated, smaller in size, more energy-efficient, more accurate and more reliable with respect to performance specifications and, consequently, more cost-effective than many competing solutions. We plan to continue to introduce new products within our existing product families, as well as new, innovative products that expand our market. We have over 4,500 employees worldwide, with various locations in Asia, Europe and the U.S. Our key product families include DC to DC, AC to DC, driver metal-oxide-semiconductor field-effect transistor, power management IC, current limit switch and lighting control products. We utilize a fabless business model, working with third parties to manufacture, assemble and test our ICs, which allows us to focus our engineering and design resources on our strengths and to reduce our fixed costs and capital expenditures.
Primary products
- Direct Current (DC) to DC
- Alternating Current (AC) to DC
- driver metal-oxide-semiconductor field-effect transistor
- power management IC
- current limit switch
- lighting control products
End markets
Geographies
Named competitors
“We believe that we are competitive in the markets in which we sell because our ICs and solutions are typically smaller in size, are highly integrated with lower energy consumption, and achieve higher performance specifications than most of our competitors.” Competitive position, as stated in the filing
Revenue commentary · FY 2025
Revenue increased from approximately $2.21 billion in 2024 to approximately $2.79 billion in 2025, driven by growth in the storage and computing and automotive end markets, partially offset by a decline in the enterprise data segment's share of total revenue.
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