Monolithic Power Systems Announces Results for the Third Quarter Ended September 30, 2022

Monolithic Power Systems, Inc.
Condensed Consolidated Statements of Operations
(Unaudited, in thousands, except per share amounts)
 
   Three Months Ended
September 30,
   Nine Months Ended
September 30,
   2022   2021   2022   2021
Revenue $495,418  $323,522  $1,334,136  $871,294
Cost of revenue  204,516   137,211   553,393   379,709
Gross profit  290,902   186,311   780,743   491,585
Operating expenses:               
Research and development  67,263   49,468   178,497   136,113
Selling, general and administrative  69,717   56,291   207,538   164,982
Litigation expense  2,051   3,421   4,815   6,645
Total operating expenses  139,031      109,180       390,850       307,740
Operating income     151,871       77,131       389,893       183,845
Other income (expense), net     5       793       (5,720 )     6,411
Income before income taxes     151,876       77,924       384,173       190,256
Income tax expense     27,539       9,154       65,591       20,904
Net income   $ 124,337     $ 68,770     $ 318,582     $ 169,352
                               
Net income per share:                              
Basic   $ 2.66     $ 1.50     $ 6.83     $ 3.70
Diluted   $ 2.57     $ 1.44     $ 6.60     $ 3.55
Weighted-average shares outstanding:                              
Basic     46,829       45,970       46,643       45,754
Diluted     48,349       47,852       48,295       47,772

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