Filing Flows › Monolithic Power Systems (MPWR) › Q1 2026
Monolithic Power Systems (MPWR) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 4, 2026
Monolithic Power Systems (MPWR) reported revenue of $804M for the first quarter 2026 (Q1 2026), +26% from a year earlier and +7% from the quarter before. Operating margin was 30.0%, net earnings $193M (24.0% of revenue).
Monolithic Power Systems, Q1 2026: revenue $804M (+26% year over year), operating margin 30.0%, net earnings $193M, operating cash flow $250M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $804M | +7% | +26% |
| Gross profit | $445M | +7% | +26% |
| Operating profit | $241M | +21% | +43% |
| Net earnings | $193M | +13% | +43% |
| Operating cash flow | $250M | +139% | -2% |
| Free cash flow | $179M | +181% | -17% |
What changed
Revenue was $804.2M in Q1 2026, up 26% year over year and up 7% from the previous quarter.
Gross margin was 55.3%, down 0.1 points from Q1 2025. Operating profit was $241.2M, a 30.0% margin (up 3.5 points year over year). Of the extra revenue versus Q1 2025, 43% reached operating profit, above the 26% margin then. Operating expenses grew 11% against revenue growth of 26%. The fastest-growing cost line was SG&A (+12%). Net earnings were $193.2M, up 43% year over year. The effective tax rate was 21.8%.
Operating cash flow was $250.3M (down 2% year over year), 130% of net earnings. Non-cash charges added back $15.1M of depreciation and amortization and $41.1M of share-based compensation. Capital expenditures of $70.8M left free cash flow of $179.4M.
Questions
What was Monolithic Power Systems' revenue in the first quarter 2026?
Monolithic Power Systems (MPWR) reported revenue of $804M for the first quarter 2026 (Q1 2026), +26% from a year earlier and +7% from the quarter before.
Was Monolithic Power Systems profitable in the first quarter 2026?
Operating profit was $241M (30.0% of revenue) and net earnings $193M.