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MPWR on Nasdaq

Monolithic Power Systems

Logo: Monolithic Power Systems, Inc., Public domain, via Wikimedia Commons5

U.S. information technology company

Monolithic Power Systems, Inc. is an American, publicly traded company headquartered in West Palm Beach, Florida. It operates in more than 15 locations worldwide. Monolithic Power Systems (MPS) provides power circuits for systems found in cloud computing, telecom infrastructures, automotive, industrial applications and consumer applications.3 Its shares trade on Nasdaq under the symbol MPWR.1 Wikipedia text CC BY-SA 4.0

Price unavailable

Last updated Oct 21, 2026.

Overview

1997Founded1

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  • TickerMPWR on Nasdaq1
  • Industrysemiconductor industry1
  • HeadquartersSan Jose1
  • Websitewww.monolithicpower.com
  • Legal formpublic company1
  • Incorporated inDE6
  • Business address1555 Palm Beach Lakes Blvd., West Palm Beach, Fl 334016
  • Filer categoryLarge accelerated filer6
  • LEI529900TB7O85LSZ1XU314
  • StatusActive4
  • LEI statusLapsed (not renewed)4
  • Registered addressc/o The Corporation Trust Company, Corporation Trust Center 1209 Orange St, 19801 Wilmington, United States4
  • Registered withDivision of Corporations, Department of State, 37701684

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Monolithic Power Systems, Inc. is an American, publicly traded company headquartered in West Palm Beach, Florida. It operates in more than 15 locations worldwide.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

55.2%Gross margin9
26.1%Operating margin9
22.3%Net margin9
26.4%Revenue growth, 20259
17.6%Return on equity9
$666.2MFree cash flow9

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Regions

China brought in 55% of the revenue Monolithic Power Systems broke down this way in fiscal 2025.

  1. China$1.5B955%up 31% from 2024
  2. Taiwan$550.1M920%down 5% from 2024
  3. South Korea$252.7M99%up 51% from 2024
  4. South East Asia$148.1M95%up 88% from 2024
  5. Europe$113.5M94%up 31% from 2024
  6. United States$96.7M93%up 75% from 2024
  7. Japan$84.4M93%up 37% from 2024
  8. Other Region$484.0K90%up 56% from 2024
Regions by year
Regions202320242025
China$934.8M$1.2B$1.5B
Taiwan$307.5M$578.0M$550.1M
South Korea$169.9M$167.9M$252.7M
South East Asia$85.2M$78.8M$148.1M
Europe$132.6M$86.9M$113.5M
United States$97.3M$55.2M$96.7M
Japan$93.3M$61.7M$84.4M
Other Region$534.0K$310.0K$484.0K

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue45¢$1.3B
  • Selling, general and admin15¢$428.8M
  • Other costs12¢$344.7M
  • Income tax5¢$144.7M
  • Profit22¢$621.5M

Out of $2.8B in revenue.9

Where each dollar of operating cash went, fiscal 2025

  • Capital spending21¢$172.0M
  • Dividends paid34¢$284.8M
  • Share buybacks1¢$6.6M
  • Kept or used elsewhere45¢$374.8M

Out of $838.2M of cash from operations.9

Financial statements

Revenue101112139$2.8B in 2025+344% since 2019
0$1.0B$2.0B$3.0B2019: $627.9M$627.9M20192020: $844.5M$844.5M2020+34%2021: $1.2B$1.2B2021+43%2022: $1.8B$1.8B2022+49%2023: $1.8B$1.8B2023+2%2024: $2.2B$2.2B2024+21%2025: $2.8B$2.8B2025+26%
Gross profit101112139$1.5B in 2025+345% since 2019
0$500.0M$1.0B$1.5B$2.0B2019: $346.3M$346.3M20192020: $466.0M$466.0M2020+35%2021: $685.5M$685.5M2021+47%2022: $1.0B$1.0B2022+53%2023: $1.0B$1.0B2023−3%2024: $1.2B$1.2B2024+20%2025: $1.5B$1.5B2025+26%
Operating income101112139$728.6M in 2025+610% since 2019
0$200.0M$400.0M$600.0M$800.0M2019: $102.6M$102.6M20192020: $158.9M$158.9M2020+55%2021: $262.4M$262.4M2021+65%2022: $526.8M$526.8M2022+101%2023: $481.7M$481.7M2023−9%2024: $539.4M$539.4M2024+12%2025: $728.6M$728.6M2025+35%
Net income101112139$621.5M in 2025+471% since 2019
0$500.0M$1.0B$1.5B$2.0B2019: $108.8M$108.8M20192020: $164.4M$164.4M2020+51%2021: $242.0M$242.0M2021+47%2022: $437.7M$437.7M2022+81%2023: $427.4M$427.4M2023−2%2024: $1.6B$1.6B2024+273%2025: $621.5M$621.5M2025−61%

Every line of the income statement as filed: the last 3 fiscal years (annual) or 3 quarters (quarterly), latest first.9

Period ending2025-12-312024-12-312023-12-31
Revenue$2.8B$2.2B$1.8B
Cost of revenue$1.3B$986.2M$800.0M
Gross profit$1.5B$1.2B$1.0B
Research and development$382.3M$324.7M$263.6M
Selling, general and administrative$428.8M$356.8M$275.7M
Total operating expenses$811.1M$681.5M$539.4M
Operating income$728.6M$539.4M$481.7M
Other income, net$37.6M$33.6M$24.1M
Income before income taxes$766.2M$572.9M$505.8M
Income tax expense (benefit), net$144.7M-$1.0B$78.5M
Net income$621.5M$1.6B$427.4M
Basic (in dollars per share)$12.94$32.76$8.98
Diluted (in dollars per share)$12.86$32.60$8.76
Basic (in shares)48.0M shares48.6M shares47.6M shares
Diluted (in shares)48.3M shares48.8M shares48.8M shares

Compare Monolithic Power Systems with another company

Corporate structure

Monolithic Power Systems sits at the top of its group. 3 entities, 2 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Monolithic Power Systems

  • Invesco Filed SCHEDULE 13G on Monolithic Power Systems, latest Jul 15, 2026
  • FMR LLC Filed SCHEDULE 13G/A on Monolithic Power Systems, latest Jul 8, 2026 (4 filings since Feb 9, 2024)
  • VANGUARD CAPITAL MANAGEMENT LLC Filed SCHEDULE 13G on Monolithic Power Systems, latest Apr 30, 2026
  • VANGUARD PORTFOLIO MANAGEMENT LLC Filed SCHEDULE 13G on Monolithic Power Systems, latest Apr 29, 2026
  • VANGUARD GROUP INC Filed SCHEDULE 13G/A on Monolithic Power Systems, latest Mar 27, 2026 (5 filings since Feb 10, 2022)
  • BlackRock Filed SCHEDULE 13G/A on Monolithic Power Systems, latest Jan 8, 2026 (6 filings since Jan 28, 2022)
  • PRICE T ROWE ASSOCIATES INC /MD/ Filed SC 13G on Monolithic Power Systems, latest Feb 14, 2024 (2 filings since Feb 14, 2023)
  • Monolithic Power Systems San Jose, California, United States
    • Monolithic Power Subsidiary · Spain
    • MPS INTERNATIONAL LTD. Subsidiary · San Jose, California, United States

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Monolithic Power Systems reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$932.4M9 Dec 31, 2025$747.2M9 Dec 31, 2024+24.8%
Accumulated depreciation$304.7M9 Dec 31, 2025$252.2M9 Dec 31, 2024+20.8%
Property and equipment, net$627.7M9 Dec 31, 2025$494.9M9 Dec 31, 2024+26.8%
Operating-lease assets (leased space)$24.9M9 Dec 31, 2025$16.9M9 Dec 31, 2024+47.1%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$1.1B9 Dec 31, 2025$691.8M9 Dec 31, 2024+58.9%
Marketable securities, current$157.2M9 Dec 31, 2025$171.1M9 Dec 31, 2024−8.1%
Debt securities available for sale$183.1M13 Dec 31, 2024$716.7M13 Dec 31, 2023−74.4%
Long-term investments$49.0K9 Dec 31, 2025$148.0K9 Dec 31, 2024−66.9%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$25.9M9 Dec 31, 2025$25.9M9 Dec 31, 20240%
Intangible assets, net (excluding goodwill)$8.8M9 Dec 31, 2025$9.9M9 Dec 31, 2024−11.6%

Inventory

ItemLatestA year beforeChange
Inventory, total$564.6M9 Dec 31, 2025$419.6M9 Dec 31, 2024+34.6%
Raw materials$107.8M9 Dec 31, 2025$91.9M9 Dec 31, 2024+17.4%
Work in process$220.4M9 Dec 31, 2025$170.0M9 Dec 31, 2024+29.7%
Finished goods$236.4M9 Dec 31, 2025$157.8M9 Dec 31, 2024+49.9%

Properties, in its own words

As of December 31, 2025, our owned and leased facilities in the U.S. and other countries that are individually in excess of 10,000 square feet consisted of:

U.S. · Other Countries · Total

The rest of Item 2

(In square feet)

Owned facilities · 216,000 · 973,000 · 1,189,000

Leased facilities · 23,000 · 469,000 · 492,000

Total facilities · 239,000 · 1,442,000 · 1,681,000

We also lease other smaller sales and marketing, and research and development offices in Asia, Europe and the U.S. We believe that our existing facilities are suitable for our current operations.

Item 2 of the 10-K filed Feb 27, 2026.17

The story

Monolithic Power Systems, Inc. was founded in 1997 by Michael Hsing, who is the current CEO. Prior to the founding of the corporation, Hsing worked as a Senior Silicon Technology Developer at several analog integrated circuit companies.

The company then diversified into DC/DC products. In November 2004, Hsing took the company public with an IPO. Since then, the company has grown to incorporate 13 product lines with more than 4,000 products.

In February 2021, the company was added to the S&P 500. In December 2025, MPS was added to the NASDAQ 100. In 2023, the company made progress on its long-term ESG goals and diversity goals, including the addition of a second female director to its Board of Directors. The company also published its annual ESG report and launched public commitments to reduce Scope 1 and 2 greenhouse gas emissions by 40% by 2030 and to be powered globally by 75% of Renewable Electricity by 2026.

From Wikipedia’s article on Monolithic Power Systems, shared under CC BY-SA 4.0.7

Leadership

Who has led Monolithic Power Systems, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Michael Hsing2006–now

Chief financial officer

  1. Rick Neely2006–2010
  2. Meera Rao2011–2016
  3. Theodore Blegen2016–2026
  4. Robert W. Dean Ii.2026–now
200020052010201520202025
Board members and other officers (21)

Products and brands

Products

Monolithic Power Systems provides digital, analog, and mixed-signal integrated circuits. It offers energy-efficient DC to DC converter ICs that are used to convert and control voltages of various electronic systems, such as portable electronic devices, wireless LAN access points, computers, set top boxes, displays, automobiles, and medical equipment. The company also provides lighting control ICs for backlighting, which are used in systems that provide the light source for LCD panels in notebook computers, LCD monitors, car navigation systems, and LCD televisions. In addition, Monolithic Power Systems supports the electrification of transportation and manufactures class D Audio Amplifier products.

Locations

Monolithic Power Systems operates at 18 locations primarily in the US, Europe, and east Asia.

From Wikipedia’s article on Monolithic Power Systems, shared under CC BY-SA 4.0.7

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • Monolithic Power Spain, S.L.8

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Former names

  • MONOLITHIC POWER SYSTEMS INCJul 13, 2004 to Jul 15, 20266

Timeline

  1. Sep 10, 20268-K Other events42
  2. Jul 30, 20268-K Results of operations43
  3. Jun 12, 20268-K Shareholder vote; Other events44
  4. Apr 30, 20268-K Results of operations45
  5. Feb 27, 20268-K Earlier financial statements no longer reliable46
  6. Feb 5, 20268-K Results of operations; Executive or director change; Other events47
  7. Dec 12, 20258-K Other events48
  8. Nov 21, 20258-K Bylaws or fiscal year changed49
  9. Oct 30, 20258-K Results of operations50
  10. Sep 11, 20258-K Other events51
  11. Jul 31, 20258-K Results of operations52
  12. Jun 16, 20258-K Bylaws or fiscal year changed; Shareholder vote; Other events53
  13. May 4, 2006New chief executive Michael Hsing becomes CEO18
  14. May 16, 2005Went public Listed on NASDAQ1
  15. 1997Founded Founded1

Calendar

Coming up

  1. Oct 29, 2026 · After the closeReports results for the quarter ending Sep/2026 A year earlier it reported $3.72 a share, on Oct 30, 2025.54

When it reported results

  1. Jul 30, 2026Reported quarterly or annual results43
  2. Apr 30, 2026Reported quarterly or annual results45
  3. Feb 5, 2026Reported quarterly or annual results47
  4. Oct 30, 2025Reported quarterly or annual results50
  5. Jul 31, 2025Reported quarterly or annual results52
  6. May 1, 2025Reported quarterly or annual results55
  7. Feb 6, 2025Reported quarterly or annual results56
  8. Oct 30, 2024Reported quarterly or annual results57

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

745 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 42 major events, 413 insider forms, 20 large holders, 250 other. The latest 20:

  1. Sep 30, 20264 PRIMARY DOCUMENT EDGAR
  2. Sep 28, 2026144 EDGAR
  3. Sep 10, 20268-K EDGAR
  4. Sep 2, 20264 PRIMARY DOCUMENT EDGAR
  5. Aug 26, 20264 PRIMARY DOCUMENT EDGAR
  6. Aug 25, 20264 PRIMARY DOCUMENT EDGAR
  7. Aug 24, 2026144 EDGAR
  8. Aug 19, 20264 PRIMARY DOCUMENT EDGAR
  9. Aug 17, 2026144 EDGAR
  10. Aug 13, 20264 PRIMARY DOCUMENT EDGAR
  11. Aug 11, 2026144 EDGAR
  12. Aug 6, 20264 PRIMARY DOCUMENT EDGAR
  13. Aug 6, 20264 PRIMARY DOCUMENT EDGAR
  14. Aug 5, 2026144 EDGAR
  15. Aug 5, 202610-Q EDGAR
  16. Aug 5, 20264 PRIMARY DOCUMENT EDGAR
  17. Jul 30, 20268-K EDGAR
  18. Jul 28, 20264 PRIMARY DOCUMENT EDGAR
  19. Jul 17, 20264 PRIMARY DOCUMENT EDGAR
  20. Jul 15, 2026144 EDGAR

The 745 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

346 open-market trades by officers, directors and large owners since October 2021: 0 buys and 346 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Sep 28, 2026Hsing MichaelCEOSale30,000$1,344.97$40.3MForm 4
Aug 24, 2026DEAN ROBERT W IIInterim CFOSale32$1,297.72$41.5KForm 4
Aug 24, 2026CHANG KUO WEI HERBERTDirectorSale50$1,281.57$64.1KForm 4
Aug 17, 2026DEAN ROBERT W IIInterim CFOSale6$1,413.64$8.5KForm 4
Aug 11, 2026CHANG KUO WEI HERBERTDirectorSale50$1,420.00$71.0KForm 4
Aug 5, 2026DEAN ROBERT W IIInterim CFOSale105$1,344.27$141.1KForm 4
Aug 3, 2026Sciammas MauriceEVP, WW Sales & MarketingSale30$1,343.94$40.3KForm 4
Jul 15, 2026Sciammas MauriceEVP, WW Sales & MarketingSale15,000$1,349.73$20.2MForm 4
Jul 1, 2026Sciammas MauriceEVP, WW Sales & MarketingSale30$1,351.61$40.5KForm 4
Jun 1, 2026Sciammas MauriceEVP, WW Sales & MarketingSale30$1,533.95$46.0KForm 4
May 27, 2026Tseng SariaEVP & General CounselSale7,565$1,700.00$12.9MForm 4
May 26, 2026DEAN ROBERT W IIInterim CFOSale22$1,649.56$36.3KForm 4
May 26, 2026Zhou JeffDirectorSale486$1,680.00$816.5KForm 4
May 22, 2026Tseng SariaEVP & General CounselSale5,000$1,586.43$7.9MForm 4
May 18, 2026Hsing MichaelCEOSale40,000$1,482.75$59.3MForm 4
May 18, 2026DEAN ROBERT W IIInterim CFOSale4$1,563.28$6.3KForm 4
May 15, 2026Sciammas MauriceEVP, WW Sales & MarketingSale12,000$1,561.40$18.7MForm 4
May 6, 2026Elmiger Eugen JDirectorSale12,000$1,584.96$19.0MForm 4
May 6, 2026Xiao DemingEVP, Global OperationsSale30,000$1,654.55$49.6MForm 4
May 6, 2026Wynne EileenDirectorSale335$1,582.68$530.2KForm 4

All 346 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025Michael Hsing66$1.0M$19.9M65
2025Saria Tseng$536.1K$9.0M65
2025Deming Xiao$536.1K$9.0M65
2025Maurice Sciammas$536.1K$9.0M65
2025Bernie Blegen$494.9K$7.0M65
2024Chairman of the BoardPresident and$980.6K$19.0M65
2024Executive Vice PresidentStrategic Corporate$510.6K$8.5M65
2024Executive VicePresident,$471.3K$6.7M65
2023Chief Executive Officer$822.9K$14.6M65
2023DevelopmentGeneral Counsel and Corporate Secretary$434.3K$6.4M65
2023Global Operations$434.3K$6.4M65
2023Worldwide Sales and Marketing$434.3K$6.4M65
2023Chief Financial Officer$400.1K$4.6M65

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
BlackRock, Inc.5,589,925$7.7B0.1%−482,542
Fmr LLC5,177,258$7.2B0.3%+776,427
Vanguard Capital Management LLC3,126,756$4.3B0.1%+43,307
Vanguard Portfolio Management LLC2,504,858$3.5B0.2%−11,634
Invesco Ltd.2,343,930$3.2B0.3%−172,057
State Street Corp2,282,186$3.2B0.1%+93,732
Geode Capital Management, LLC1,195,281$1.6B0.1%−236,785
Franklin Resources Inc811,974$1.1B0.2%−116,697
Goldman Sachs Group Inc780,650$1.1B0.1%+212,586
Norges Bank751,399$1.0B0.1%New
Van Eck Associates Corp746,237$1.0B0.6%+221,666
Morgan Stanley727,885$1.0B0.1%+71,518
Bank Of America Corp /de/536,236$741.3M0.0%+154,074
Royal Bank Of Canada487,212$673.5M0.1%+13,844
First Trust Advisors LP482,781$667.4M0.4%−108,572
Northern Trust Corp479,492$662.8M0.1%−9,628
Barclays PLC474,132$655.4M0.2%−81,676
Rafferty Asset Management, LLC459,278$634.9M1.4%+141,805
UBS Group AG449,479$621.3M0.1%−90,934
Massachusetts Financial Services Co /ma/442,176$611.2M0.2%−125,593
Jpmorgan Chase & Co434,949$571.0M0.0%−119,970
Charles Schwab Investment Management Inc388,951$537.7M0.1%+12,577
Legal & General Group Plc359,936$497.6M0.1%−20,153
Voya Investment Management LLC340,269$469.7M0.4%−53,290
Citigroup Inc325,281$449.7M0.2%−15,551

13F reports cover disclosed long positions in U.S. stocks only.

Members of Congress who traded it

14 trades disclosed by members of Congress. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.

DateMemberTradeAmountVs S&P sinceFiling
Jun 5, 2026Byron DonaldsRepublican, HousePartial sale$1,001 - $15,000+20.3%Report
Jun 5, 2026Byron DonaldsRepublican, HousePartial sale$1,001 - $15,000+20.3%Report
Feb 4, 2026Markwayne Mullin, SenateBuy$15,001 - $50,000−2.6%Report
Jan 5, 2026Markwayne Mullin, SenateBuy$15,001 - $50,000+18.6%Report
Jan 5, 2026Markwayne Mullin, SenateBuy$15,001 - $50,000+18.6%Report
Oct 20, 2025Michael GuestRepublican, HouseBuy$1,001 - $15,000+6.1%Report
Apr 8, 2025Robert P. Bresnahan, Jr.Republican, HouseBuy$1,001 - $15,000+119.0%Report
Jan 13, 2025Robert P. Bresnahan, Jr.Republican, HouseSale$1,001 - $15,000−79.9%Report
May 3, 2024Tommy TubervilleRepublican, SenateSale$1,001 - $15,000−25.7%Report
Oct 17, 2023Tommy TubervilleRepublican, SenateBuy$1,001 - $15,000+85.1%Report
Apr 3, 2023Tommy TubervilleRepublican, SenatePartial sale$1,001 - $15,000−65.6%Report
Apr 3, 2023Tommy TubervilleRepublican, SenatePartial sale$1,001 - $15,000−65.6%Report
Sep 30, 2021Tommy TubervilleRepublican, SenateBuy$1,001 - $15,000+77.9%Report
Jun 24, 2019Donna Shalala, HouseSale$1,001 - $15,000−716.9%Report

Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).

SEC filer profile

How Monolithic Power Systems is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARMONOLITHIC POWER SYSTEMS, INC.2
  • CIK0001280452
  • Employer ID (EIN)77-046678917
  • Filer statusLarge accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company17
  • Incorporated inDelaware17
  • Fiscal year endsDecember 312
  • Industry code (SIC)3674 Semiconductors & Related Devices2
  • SEC reviewing officeOffice of Manufacturing, Division of Corporation Finance2
  • Business address1555 Palm Beach Lakes Blvd., West Palm Beach, FL 334012
  • Mailing address5808 Lake Washington Blvd. Ne, Kirkland, WA 980332
  • Phone561-839-39992
  • Shares outstanding49,143,000 as of Jul 29, 202615
  • Public float$24.7B as of Jun 30, 202517
  • AuditorErnst & Young LLP, San Jose, California PCAOB ID 42; it also attests to the company’s internal control over financial reporting17
  • On EDGAR sinceJul 13, 20042
  • Filings3,003 in all: 4 (2,142), 144 (223), 8-K (203), SC 13G/A (89), 10-Q (65), SC 13G (52), 4/A (47), DEFA14A (29)2
    All 32 form types

    3 (25), 10-K (22), DEF 14A (22), SD (13), S-8 (12), 5 (8), UPLOAD (8), CORRESP (7), SCHEDULE 13G/A (6), ARS (5), S-1/A (5), 10-Q/A (3), SCHEDULE 13G (3), 10-K/A (2), 144/A (2), NT 10-Q (2), 424B3 (1), 424B4 (1), 8-A12G (1), DEFR14A (1), NT 10-K (1), PRE 14A (1), S-1 (1), S-8 POS (1)

  • Latest filingsAnnual report (10-K) Feb 27, 2026
    Quarterly report (10-Q) Aug 5, 2026
    Proxy statement (DEF 14A) Apr 30, 2026
    Latest 8-K (8-K) Sep 10, 2026

Securities registered for trading

ClassSymbolExchange
Common Stock, par value $0.001 per shareMPWRNASDAQ

From the cover page of the 10-K filed Feb 27, 2026 (Section 12(b) of the Exchange Act).17

Risk factors and legal proceedings

The risks Monolithic Power Systems names in Item 1A of its 10-K filed Feb 27, 2026: 51 risks under these headings, as written.17

  • Risks Associated with Our Significant Operations in Asia, Particularly in China
  • We derive most of our revenue from direct or indirect sales to customers in Asia and have significant operations in Asia, which may expose us to political, cultural, regulatory, economic, foreign exchange, and operational risks.
  • There are inherent risks associated with the operation of our manufacturing and testing facilities in China, which could increase product costs or cause a delay in product shipments.
  • Our business has been and may be significantly impacted by worldwide economic conditions, in particular changing economic conditions in China.
  • We and many of our manufacturing partners and suppliers are subject to extensive Chinese government regulations, and the benefit of various incentives from Chinese governments that we and many of our manufacturing partners and suppliers receive may be reduced or eliminated, which could increase our costs or limit our ability to sell products and conduct activities in China.
  • Uncertainties with respect to China’s legal system, including uncertainties regarding the enforcement of laws, and sudden or unexpected changes in policies, laws and regulations in China could materially and adversely affect our operations.
  • We are subject to export laws, trade policies and restrictions including international tariffs that could materially and adversely affect our business and results of operations.
  • We face political and other risks conducting business in Taiwan and Hong Kong, particularly due to their tense relationships with China.
  • Fluctuations in the value of the U.S. Dollar relative to other currencies, including the Renminbi, may adversely affect our results of operations.
  • A significant portion of our manufacturing, testing, assembly and packaging capacity comes from suppliers in China, which exposes us to political, cultural, regulatory, economic, foreign exchange, operational risks and capacity shortage risks.
  • Risks Associated with Product Demand and Sales
  • We may not achieve growth rates or financial performance comparable to past years.
The other 41 risks
  • If demand for our products declines in the major end markets that we serve, our revenue will decrease and our results of operations and financial condition would be materially and adversely affected.
  • Due to the nature of our business as a component and solution supplier, we may have difficulty both in accurately predicting our future revenue and appropriately managing our expenses.
  • The loss of any significant distributors, value-added resellers or direct or indirect customers, or failure to collect accounts receivable from them could adversely affect our financial position and results of operations.
  • Our products must meet specifications, and undetected defects and failures may occur, which may cause customers to return or stop buying our products and may expose us to product liability risk.
  • Because of the lengthy sales cycles for our products and the fixed nature of a significant portion of our expenses, we may incur substantial expenses before we earn associated revenue and may not ultimately achieve our forecasted sales for our products.
  • Risks Associated with Supply and Manufacturing
  • Our ability to increase product sales and revenue may be constrained by the manufacturing capacity of our suppliers.
  • There may be unanticipated costs associated with increasing our third-party suppliers’ manufacturing capacity.
  • We currently depend on third-party suppliers to provide us with wafers and other key components for our products. If any of our suppliers are acquired, become insolvent or capacity constrained, or are otherwise unable to provide us with sufficient wafers and other key components at acceptable yields or at anticipated costs, our revenue and gross margin may decline or we may not be able to fulfill our customer orders.
  • We might not be able to deliver our products on a timely basis if our relationships with our assembly and test subcontractors are disrupted or terminated.
  • We purchase inventory in advance based on expected demand for our products, and if demand is not as expected, we may have insufficient or excess inventory, which could adversely impact our financial position.
  • The price and availability of commodities used in our products, such as gold, copper and silicon, may adversely impact our ability to deliver our products in a timely and cost-effective manner, and may adversely affect our business and results of operations.
  • Risks Associated with Industry Dynamics and Competition
  • The highly cyclical nature of the semiconductor industry, which has resulted in significant and sometimes prolonged downturns, could materially and adversely affect our financial condition and results of operations.
  • Industry consolidation may lead to increased competition and may harm our operating results.
  • We compete against many companies with substantially greater financial and other resources, and our market share may decline if we are unable to respond to our competitors effectively.
  • We may face competition from customers developing products internally.
  • Risks Associated with IT and Cybersecurity
  • Implementation of enhanced enterprise resource planning (“ERP”) or other IT systems could result in significant disruptions to our operations.
  • Cybersecurity risks, data protection or privacy breaches, cyberattacks, systems integration issues and unauthorized use of AI tools could disrupt our internal operations and/or harm our reputation, and any such disruption or harm could cause a reduction in our expected revenue, increase our expenses, negatively impact our results of operation or otherwise adversely affect our stock price.
  • Risks Associated with Strategic Investments and Initiatives
  • Our success depends on our investment of significant resources in research and development. We may have to invest more resources in research and development than anticipated, which could increase our operating expenses and negatively impact our operating results.
  • We may not realize the anticipated benefits of any company or business that we acquire. In addition, acquisitions could result in diluting the ownership interests of our stockholders, reduce our cash balances and/or cause us to incur debt or to assume contingent liabilities, which could adversely affect our business.
  • Risks Associated with Financial Reporting
  • Our worldwide tax rates, financial position and operating results may be affected by changes in the relevant tax laws, interpretation of such tax laws or the influence of certain tax policy efforts.
  • Changes in effective tax rates or adverse outcomes resulting from examination of our income tax returns could adversely affect our results of operations.
  • The challenging, subjective or complex judgments of certain accounting areas may not be accurate, and could result in restatements of our financial statements.
  • The restatement of our 2024 annual financial statements and our 2025 quarterly financial statements may affect investor confidence and raise reputational issues and may subject us to additional risks and uncertainties, including increased professional costs and the increased possibility of legal proceedings and regulatory inquiries.
  • We face risks in connection with our internal control over financial reporting and the identified material weakness.
  • Risks Associated with Regulatory Compliance, Intellectual Property Protection and Litigation We are subject to anti-corruption laws in the jurisdictions in which we operate. Our failure to comply with these laws could result in penalties that could harm our reputation and have a material adverse effect on our business, financial condition and results of operations.
  • Compliance with environmental laws and regulations could cause disruptions in our business and operations.
  • We are subject to regulatory and reporting standards related to ESG matters, which could increase our expenses.
  • Given our inability to control the timing and nature of significant events in our legal proceedings that either have arisen or may arise, our legal expenses are difficult to forecast and may vary substantially from our publicly disclosed forecasts with respect to any given quarter, and we could be liable for significant damages or other expenses, which could harm our stock price and financial condition.
  • Future legal proceedings may divert our financial and management resources.
  • Failure to protect our proprietary technologies or maintain the right to certain technologies may negatively affect our ability to compete.
  • If we are unsuccessful in legal proceedings brought against us or any of our customers, we could be prevented from selling our products and/or be required to pay substantial damages. An unfavorable outcome or an additional award of damages, attorneys’ fees or an injunction could cause our revenue to decline significantly and could severely harm our business and operating results.
  • Certain software we use is from open source code sources, which, under certain circumstances, may lead to unintended consequences and, therefore, could materially adversely affect our business, financial condition, operating results and cash flows.
  • Risks Associated with Human Capital Management The loss of any of our key personnel or the failure to attract or retain specialized technical and management personnel could affect our operations or impair our ability to grow our business.
  • If we fail to retain key employees in our sales, engineering, finance and legal functions or to make continued improvements to our internal systems, our business may suffer.
  • Risks Associated with Ownership of Our Stock
  • The future trading price of our common stock could be subject to wide fluctuations in response to a variety of factors.
  • If securities or industry analysts downgrade our stock or do not continue to publish research or reports about our business, our stock price and trading volume could decline.
  • Short positions in our stock could have a substantial impact on the trading price of our stock.
  • There can be no assurance that we will continue to declare cash dividends in any particular amounts or at all.
  • We cannot guarantee that our stock repurchase program will enhance long-term stockholder value.
  • If we issue additional shares of stock in the future, it may have a dilutive effect on our stockholders.
  • General Risk Factors
  • Our worldwide operations are subject to economic and geopolitical uncertainty and risks associated with business continuity in the event of natural or other disasters including pandemics, war, climate crises and other natural disasters, which could have a material adverse effect on our business operations.

Legal proceedings

We are a party to actions and proceedings in the ordinary course of business, including challenges to the enforceability or validity of our intellectual property, claims that our products infringe on the intellectual property rights of others, and employment matters. We are also subject to litigation initiated by our stockholders. These proceedings often involve complex questions of fact and law and may require the expenditure of significant funds and the diversion of other resources to prosecute and defend. We defend ourselves vigorously against any such claims. Based on current information and management assessment, we do not believe that a material loss from known matters is probable as of December 31, 2025.

On February 4, 2025, a class action lawsuit was filed against us and certain of our executives. The lawsuit is captioned Waterford Twp. Gen. Emps. Ret. Sys. v. Monolithic Power Systems, Inc., et al., No. 25-cv-220 (W.D. Wash.) (the “Securities Action”) and alleges that we violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, as amended, and Rule 10b-5 promulgated thereunder, by making material misstatements or omissions relating to our business. We believe the lawsuit is meritless and currently intend to defend against it vigorously. Related to the Securities Action, two shareholder derivative suits were also filed, against current – and one former – director, and certain executives, alleging breaches of their fiduciary duties. The shareholder derivative suits have been consolidated under the caption Miller v. Hsing, et al., No. 25-cv-527 (W.D. Wash.), filed on March 26, 2025 (the “Derivative Litigation”). The Securities Action and Derivative Litigation seek unspecified amounts of damages and/or attorneys’ fees and other relief. The Derivative Litigation is stayed pending developments in the Securities Action.

The opening of Item 3, Legal Proceedings.17

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