Monolithic Power Systems Announces Results for the First Quarter Ended March 31, 2024


RECONCILIATION OF INCOME BEFORE INCOME TAXES TO NON-GAAP INCOME BEFORE INCOME TAXES
(Unaudited, in thousands)
 
  Three Months Ended March 31, 
  2024   2023 
Total income before income taxes$105,027  $129,573 
        
Adjustments to reconcile income before income taxes to non-GAAP income before income taxes:       
Stock-based compensation and related expenses* 51,769   37,009 
Amortization of acquisition-related intangible assets 291   33 
Deferred compensation plan expense, net 47   251 
Non-GAAP income before income taxes$157,134  $166,866 
        

*Prior period excludes stock-based compensation related employer payroll taxes from non-GAAP measures due to immateriality.

2024 SECOND QUARTER OUTLOOK
RECONCILIATION OF GROSS MARGIN TO NON-GAAP GROSS MARGIN
(Unaudited)
 
  Three Months Ending  
  June 30, 2024 
  Low   High 
Gross margin 55.1%    55.7 %
Adjustment to reconcile gross margin to non-GAAP gross margin:              
Stock-based compensation and other expenses   0.3       0.3  
Non-GAAP gross margin   55.4 %     56.0 %
               

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