Filing Flows › Power Integrations (POWI) › Q1 2026
Power Integrations (POWI) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 7, 2026
Power Integrations (POWI) reported revenue of $108M for the first quarter 2026 (Q1 2026), +3% from a year earlier and +5% from the quarter before. Operating margin was 1.3%, net earnings $3.3M (3.0% of revenue).
Power Integrations, Q1 2026: revenue $108M (+3% year over year), operating margin 1.3%, net earnings $3.3M, operating cash flow $20.0M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $108M | +5% | +3% |
| Gross profit | $56.9M | +4% | -2% |
| Operating profit | $1.5M | -83% | -78% |
| Net earnings | $3.3M | -75% | -62% |
| Operating cash flow | $20.0M | -24% | -24% |
| Free cash flow | $18.0M | -6% | -13% |
What changed
Revenue was $108.3M in Q1 2026, up 3% year over year and up 5% from the previous quarter.
Gross margin was 52.6%, down 2.6 points from Q1 2025. Operating profit was $1.5M, a 1.3% margin (down 5.0 points year over year). Operating profit fell $5.3M even though revenue rose $2.8M versus Q1 2025, so costs grew faster than sales. Operating expenses grew 8% against revenue growth of 3%. Net earnings were $3.3M, down 62% year over year. The effective tax rate was 15.8%. Non-operating items added $2.5M, 63% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $20.0M (down 24% year over year), 607% of net earnings. Non-cash charges added back $6.6M of depreciation and amortization and $6.3M of share-based compensation. Working capital and other items added $3.9M. Capital expenditures of $2.0M left free cash flow of $18.0M.
Questions
What was Power Integrations' revenue in the first quarter 2026?
Power Integrations (POWI) reported revenue of $108M for the first quarter 2026 (Q1 2026), +3% from a year earlier and +5% from the quarter before.
Was Power Integrations profitable in the first quarter 2026?
Operating profit was $1.5M (1.3% of revenue) and net earnings $3.3M.
Source: Power Integrations 10-Q on SEC EDGAR.