Monolithic Power Systems Announces Results for the Fourth Quarter and Year Ended December 31, 2021 and an Increase in Quarterly Cash Dividend
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SUPPLEMENTAL FINANCIAL INFORMATION |
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STOCK-BASED COMPENSATION EXPENSE |
| (Unaudited, in thousands) |
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Three Months Ended December 31, | | |
Year Ended December 31, |
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2021 | | |
2020 | | |
2021 | | |
2020 |
| Cost of revenue | | $ | 921 | | | $ | 686 | | | $ | 3,543 | | | $ | 2,592 |
| Research and development | | | 6,465 | | | | 5,367 | | | | 26,030 | | | | 20,033 |
| Selling, general and administrative | | | 23,810 | | | | 16,917 | | | | 93,906 | | | | 62,926 |
| Total stock-based compensation expense | | $ | 31,196 | | | $ | 22,970 | | | $ | 123,479 | | | $ | 85,551 |
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RECONCILIATION OF NET INCOME TO NON-GAAP NET INCOME |
| (Unaudited, in thousands, except per share amounts) |
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Three Months Ended December 31, | | |
Year Ended December 31, | |
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2021 | | |
2020 | | |
2021 | | |
2020 | |
| Net income | | $ | 72,671 | | | $ | 42,887 | | | $ | 242,023 | | | $ | 164,375 | |
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| Adjustments to reconcile net income to non-GAAP net income: | | | | | | | | | | | | | | | | |
| Stock-based compensation expense | | | 31,196 | | | | 22,970 | | | | 123,479 | | | | 85,551 | |
| Amortization of purchased intangible assets | | | 33 | | | | - | | | | 44 | | | | - | |
| Deferred compensation plan expense | | | 252 | | | | 156 | | | | 561 | | | | 1,057 | |
| Tax effect | | | (2,053 | ) | | | (3,512 | ) | | | (9,434 | ) | | | (14,229 | ) |
| Non-GAAP net income | | $ | 102,099 | | | $ | 62,501 | | | $ | 356,673 | | | $ | 236,754 | |
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| Non-GAAP net income per share: | | | | | | | | | | | | | | | | |
| Basic | | $ | 2.21 | | | $ | 1.38 | | | $ | 7.78 | | | $ | 5.28 | |
| Diluted | | $ | 2.12 | | | $ | 1.31 | | | $ | 7.45 | | | $ | 5.04 | |
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| Shares used in the calculation of non-GAAP net income per share: | | | | | | | | | | | | | | | | |
| Basic | | | 46,139 | | | | 45,148 | | | | 45,851 | | | | 44,840 | |
| Diluted | | | 48,240 | | | | 47,600 | | | | 47,889 | | | | 47,014 | |
