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

About  Monolithic Power Systems
Monolithic Power Systems, Inc. (“MPS”) is a fabless global company that provides high-performance, semiconductor-based power electronics solutions. MPS’s mission is to reduce energy and material consumption to improve all aspects of quality of life. Founded in 1997 by our CEO Michael Hsing, MPS has three core strengths: deep system-level knowledge, strong semiconductor expertise, and innovative proprietary technologies in the areas of semiconductor processes, system integration, and packaging. These combined advantages enable MPS to deliver reliable, compact, and monolithic solutions that are highly energy-efficient, cost-effective, and environmentally responsible while providing a consistent return on investment to our stockholders. MPS can be contacted through its website at www.monolithicpower.com or its support offices around the world.

Monolithic Power Systems, MPS, and the MPS logo are registered trademarks of Monolithic Power Systems, Inc. in the U.S. and trademarked in certain other countries.

Contact:
Bernie Blegen
Executive Vice President and Chief Financial Officer
Monolithic Power Systems, Inc.
408-826-0777
MPSInvestor.Relations@monolithicpower.com

 
Monolithic Power Systems, Inc.
Condensed Consolidated Balance Sheets
(Unaudited, in thousands, except par value)
 
  March 31,   December 31, 
  2024   2023 
ASSETS         
Current assets:       
Cash and cash equivalents$488,273  $527,843 
Short-term investments 798,116   580,633 
Accounts receivable, net 194,428   179,858 
Inventories 395,990   383,702 
Other current assets 99,685   147,463 
Total current assets 1,976,492   1,819,499 
Property and equipment, net 375,573     368,952  
Acquisition-related intangible assets, net   9,518       -  
Goodwill   27,311       6,571  
Deferred tax assets, net   32,784       28,054  
Other long-term assets   157,023       211,277  
Total assets $ 2,578,701     $ 2,434,353  
               
LIABILITIES AND STOCKHOLDERS’ EQUITY              
Current liabilities:              
Accounts payable $ 103,471     $ 62,958  
Accrued compensation and related benefits   70,541       56,286  
Other accrued liabilities   137,868       115,791  
Total current liabilities   311,880       235,035  
Income tax liabilities   66,337       60,724  
Other long-term liabilities   86,927       88,655  
Total liabilities   465,144       384,414  
Commitments and contingencies              
Stockholders’ equity:              
Common stock and additional paid-in capital: $0.001 par value; shares authorized: 150,000; shares issued and outstanding: 48,667 and 48,028, respectively   1,176,382       1,129,937  
Retained earnings   977,724       947,064  
Accumulated other comprehensive loss   (40,549 )     (27,062 )
Total stockholders’ equity   2,113,557       2,049,939  
Total liabilities and stockholders’ equity $ 2,578,701     $ 2,434,353  
               

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