Filing Flows › Monolithic Power Systems (MPWR) › Q2 2025
Monolithic Power Systems (MPWR) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 4, 2025
Monolithic Power Systems (MPWR) reported revenue of $665M for the second quarter 2025 (Q2 2025), +31% from a year earlier and +4% from the quarter before. Operating margin was 24.8%, net earnings $135M (20.3% of revenue).
Monolithic Power Systems, Q2 2025: revenue $665M (+31% year over year), operating margin 24.8%, net earnings $135M, operating cash flow $238M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $665M | +4% | +31% |
| Gross profit | $366M | +4% | +30% |
| Operating profit | $165M | -2% | +41% |
| Net earnings | $135M | 0% | +35% |
| Operating cash flow | $238M | -7% | +69% |
| Free cash flow | $189M | -12% | +73% |
What changed
Revenue was $664.6M in Q2 2025, up 31% year over year and up 4% from the previous quarter.
Gross margin was 55.1%, down 0.2 points from a year earlier. Operating profit was $164.8M, a 24.8% margin (up 1.8 points year over year). Of the extra revenue versus a year earlier, 31% reached operating profit, above the 23% margin then. Operating expenses grew 23% against revenue growth of 31%. The fastest-growing cost line was Research & development (+24%). Net earnings were $135.0M, up 35% year over year. The effective tax rate was 23.7%.
Operating cash flow was $237.6M (up 69% year over year), 176% of net earnings. Non-cash charges added back $13.1M of depreciation and amortization and $60.1M of share-based compensation. Working capital and other items added $29.4M. Capital expenditures of $48.1M left free cash flow of $189.5M.
Questions
What was Monolithic Power Systems' revenue in the second quarter 2025?
Monolithic Power Systems (MPWR) reported revenue of $665M for the second quarter 2025 (Q2 2025), +31% from a year earlier and +4% from the quarter before.
Was Monolithic Power Systems profitable in the second quarter 2025?
Operating profit was $165M (24.8% of revenue) and net earnings $135M.