Monolithic Power Systems Q1 revenue rises 1.5% to $457.9 million; net income falls
Monolithic Power Systems reported first-quarter 2024 revenue of $457.9 million, up 1.5% from a year earlier, while GAAP net income fell 15.7% to $92.5 million. The company guided second-quarter 2024 revenue to $480.0 million to $500.0 million, and CEO Michael Hsing said it remains cautious about second-half 2024 business conditions.
Key points
- Revenue was $457.9 million, up 1.5% from $451.1 million in Q1 2023 and up 0.9% from $454.0 million in Q4 2023.
- GAAP net income was $92.5 million, or $1.89 per diluted share, versus $109.8 million, or $2.26 per diluted share, in Q1 2023.
- Non-GAAP net income was $137.5 million, or $2.81 per diluted share, versus $3.00 a year earlier.
- Q2 2024 guidance: revenue of $480.0 million to $500.0 million and GAAP gross margin of 55.1% to 55.7%.
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:42 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on May 01, 2024.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.