Monolithic Power Systems Announces Results for the First Quarter Ended March 31, 2022
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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 March 31, | |
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2022 | | |
2021 | |
| Cost of revenue | | $ | 1,307 | | | $ | 816 | |
| Research and development | | | 8,401 | | | | 6,165 | |
| Selling, general and administrative | | | 30,103 | | | | 21,602 | |
| Total stock-based compensation expense | | $ | 39,811 | | | $ | 28,583 | |
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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 March 31, | |
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2022 | | |
2021 | |
| Net income | | $ | 79,566 | | | $ | 45,413 | |
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| Adjustments to reconcile net income to non-GAAP net income: | | | | | | | | |
| Stock-based compensation expense | | | 39,811 | | | | 28,583 | |
| Amortization of purchased intangible assets | | | 33 | | | | - | |
| Deferred compensation plan income | | | (173 | ) | | | (57 | ) |
| Tax effect | | | (962 | ) | | | (4,460 | ) |
| Non-GAAP net income | | $ | 118,275 | | | $ | 69,479 | |
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| Non-GAAP net income per share: | | | | | | | | |
| Basic | | $ | 2.55 | | | $ | 1.53 | |
| Diluted | | $ | 2.45 | | | $ | 1.46 | |
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| Shares used in the calculation of non-GAAP net income per share: | | | | | | | | |
| Basic | | | 46,424 | | | | 45,498 | |
| Diluted | | | 48,250 | | | | 47,711 | |
