Filing Flows › Monolithic Power Systems (MPWR) › Q2 2026
Monolithic Power Systems (MPWR) Q2 2026 earnings results (second quarter 2026)
10-Q filed Aug 5, 2026
Monolithic Power Systems (MPWR) reported revenue of $981M for the second quarter 2026 (Q2 2026), +48% from a year earlier and +22% from the quarter before. Operating margin was 31.0%, net earnings $257M (26.2% of revenue).
Monolithic Power Systems, Q2 2026: revenue $981M (+48% year over year), operating margin 31.0%, net earnings $257M, operating cash flow $228M. The chart follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $981M | +22% | +48% |
| Gross profit | $541M | +22% | +48% |
| Operating profit | $304M | +26% | +84% |
| Net earnings | $257M | +33% | +91% |
| Operating cash flow | $228M | -9% | -4% |
| Free cash flow | $145M | -19% | -23% |
What changed
Revenue was $980.6M in Q2 2026, up 48% year over year and up 22% from the previous quarter.
Gross margin was 55.2%, up 0.1 points from Q2 2025. Operating profit was $303.9M, a 31.0% margin (up 6.2 points year over year). Of the extra revenue versus Q2 2025, 44% reached operating profit, above the 25% margin then. Operating expenses grew 18% against revenue growth of 48%. The fastest-growing cost line was Research & development (+23%). Net earnings were $257.3M, up 91% year over year. The effective tax rate was 20.0%.
Operating cash flow was $227.9M (down 4% year over year), 89% of net earnings. Non-cash charges added back $17.1M of depreciation and amortization and $53.2M of share-based compensation. Working capital and other items used $99.6M. Capital expenditures of $82.4M left free cash flow of $145.5M.
Questions
What was Monolithic Power Systems' revenue in the second quarter 2026?
Monolithic Power Systems (MPWR) reported revenue of $981M for the second quarter 2026 (Q2 2026), +48% from a year earlier and +22% from the quarter before.
Was Monolithic Power Systems profitable in the second quarter 2026?
Operating profit was $304M (31.0% of revenue) and net earnings $257M.