Filing Flows › Monolithic Power Systems (MPWR) › Q3 2025
Monolithic Power Systems (MPWR) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 5, 2025
Monolithic Power Systems (MPWR) reported revenue of $737M for the third quarter 2025 (Q3 2025), +19% from a year earlier and +11% from the quarter before. Operating margin was 26.5%, net earnings $180M (24.4% of revenue).
Monolithic Power Systems, Q3 2025: revenue $737M (+19% year over year), operating margin 26.5%, net earnings $180M, operating cash flow $239M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $737M | +11% | +19% |
| Gross profit | $406M | +11% | +18% |
| Operating profit | $195M | +18% | +19% |
| Net earnings | $180M | +33% | +24% |
| Operating cash flow | $239M | +0.7% | +3% |
| Free cash flow | $197M | +4% | -0.6% |
What changed
Revenue was $737.2M in Q3 2025, up 19% year over year and up 11% from the previous quarter.
Gross margin was 55.1%, down 0.3 points from a year earlier. Operating profit was $195.2M, a 26.5% margin (unchanged year over year). Of the extra revenue versus a year earlier, 27% reached operating profit, above the 26% margin then. Operating expenses grew 18% against revenue growth of 19%. The fastest-growing cost line was SG&A (+20%). Net earnings were $179.8M, up 24% year over year. The effective tax rate was 13.2%.
Operating cash flow was $239.3M (up 3% year over year), 133% of net earnings. Non-cash charges added back $13.7M of depreciation and amortization and $60.7M of share-based compensation. Working capital and other items used $14.9M. Capital expenditures of $42.5M left free cash flow of $196.8M.
Questions
What was Monolithic Power Systems' revenue in the third quarter 2025?
Monolithic Power Systems (MPWR) reported revenue of $737M for the third quarter 2025 (Q3 2025), +19% from a year earlier and +11% from the quarter before.
Was Monolithic Power Systems profitable in the third quarter 2025?
Operating profit was $195M (26.5% of revenue) and net earnings $180M.