Every material Form 8-K Monolithic Power Systems filed with the SEC in 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Monolithic Power Systems reported third-quarter 2024 revenue of $620.1 million, up 30.6% from $474.9 million a year earlier, and GAAP net income of $144.4 million, or $2.95 per diluted share, compared with $2.48 a year earlier. The company set fourth-quarter 2024 revenue guidance of $600.0 million to $620.0 million, and GAAP operating expenses rose to $179.4 million from $128.0 million.
Revenue was $620.1 million, up 22.2% from $507.4 million in the second quarter of 2024 and up 30.6% from $474.9 million a year earlier.
GAAP net income was $144.4 million, or $2.95 per diluted share, versus $121.2 million, or $2.48 per diluted share, a year earlier.
GAAP operating expenses were $179.4 million, compared with $128.0 million a year earlier.
Fourth-quarter 2024 revenue is projected to be in the range of $600.0 million to $620.0 million.
James C. Moyer resigned from the Monolithic Power Systems board on October 21, 2024, and the board cut its authorized seats from eight to seven. The board also rebalanced its director classes by appointing Jeff Zhou as a Class I director, a move the company says is to achieve a more equal balance among the classes, and the filing says Moyer's resignation was not due to any disagreement with the company.
James C. Moyer resigned from the board on October 21, 2024; the filing states no disagreement with the company, its board or management.
Board authorized seats fell from eight to seven.
Jeff Zhou resigned as a Class II director and was reappointed as a Class I director, term expiring at the 2026 annual meeting.
Zhou keeps his compensation, indemnification arrangements and Compensation and Audit Committee roles, but will not receive a new director RSU grant.
Monolithic Power Systems reported second-quarter 2024 revenue of $507.4 million, up 15.0% from a year earlier, and GAAP diluted earnings of $2.05 per share versus $2.04. It gave third-quarter revenue guidance of $590.0 million to $610.0 million. Separately, the board said it will move to declassify, phasing out its classified board structure over six years after a majority advisory stockholder vote.
Q2 2024 revenue was $507.4 million, up 15.0% from $441.1 million in Q2 2023.
GAAP diluted EPS was $2.05 versus $2.04 a year earlier; GAAP operating income was $116.5 million versus $112.3 million.
Q3 2024 revenue outlook is $590.0 million to $610.0 million.
Board intends to propose declassification at the 2025 annual meeting, with all directors elected annually from the 2030 annual meeting.
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.
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%.
Monolithic Power Systems reported fourth-quarter 2023 revenue of $454.0 million, down 1.3% from a year earlier, and GAAP diluted earnings of $1.98 per share, down from $2.45. For the full year, revenue rose 1.5% to $1.82 billion, but GAAP diluted earnings fell to $8.76 per share from $9.05. The board also raised the quarterly cash dividend by 25%, from $1.00 to $1.25 per share, payable April 15, 2024.
Q4 2023 revenue was $454.0 million, down 4.4% from $474.9 million in Q3 2023 and down 1.3% from $460.0 million a year earlier.
Q4 2023 GAAP net income was $96.9 million, or $1.98 per diluted share, versus $119.1 million, or $2.45 per diluted share, in Q4 2022.
Full-year 2023 revenue was $1,821.1 million; GAAP net income was $427.4 million, or $8.76 per diluted share.
Quarterly dividend increases to $1.25 per share, payable April 15, 2024 to holders of record as of March 29, 2024. First quarter 2024 revenue outlook is $437.0 million to $457.0 million.
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.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every Monolithic Power Systems filing is on SEC EDGAR ↗. 8-K briefs of other companies →