Monolithic Power Systems, Inc. (MPWR) Earnings
Monolithic Power Systems, Inc. is expected to report next earnings on July 30, 2026 (in NaN days), with a consensus EPS estimate of $5.85. MPWR has beaten EPS estimates in 10 of its last 12 reported quarters (average surprise +2.3% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 30, 2026 | $4.90 | $5.10 | +4.1% | $804M | +2.8% |
| Feb 5, 2026 | $4.74 | $4.79 | +1.1% | $751M | +1.2% |
| Oct 30, 2025 | $4.64 | $4.73 | +1.9% | $737M | +2.0% |
| Jul 31, 2025 | $4.12 | $4.21 | +2.2% | $665M | +1.9% |
| May 1, 2025 | $4.01 | $4.04 | +0.7% | $638M | +0.5% |
| Feb 6, 2025 | $4.01 | $4.09 | +2.0% | $622M | +2.2% |
| Oct 30, 2024 | $3.97 | $4.06 | +2.3% | $620M | +3.3% |
| Aug 1, 2024 | $3.07 | $3.17 | +3.3% | $507M | +3.4% |
| May 1, 2024 | $2.66 | $2.81 | +5.6% | $458M | +2.3% |
| Feb 7, 2024 | $2.85 | $2.88 | +1.1% | $454M | +0.4% |
| May 4, 2023 | $2.96 | $3.00 | +1.4% | $451M | +0.4% |
| Feb 8, 2023 | $3.15 | $3.17 | +0.6% | $460M | +0.0% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · April 30, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
• Record quarterly revenue of $804 million, 7% higher than Q4 2025 and 26% higher than Q1 2025. • Communications end market grew 33% sequentially due to power solutions for optical modules and switches. • Pipeline for automotive and enterprise data end markets, including server, accelerated with multiple new projects. • Sampled first high-speed interface products for DDR5 at major customers. • Grew capacity past $4 billion plan to target $6 billion in the near future. • Focus on innovation, solving customers' challenging problems, investing in new technologies to become full-service silicon-based solution provider. • Expand and diversify global supply chain for growth, stability, and adaptability.
Guidance
• Expect 12% sequential growth for June quarter. • For enterprise data, floor for year over year growth raised to around 85% from previous 50% floor. • Auto segment expected to ramp later in the year after being roughly flat in first half. • Storage and compute have different dynamics with storage optimistic due to data center and notebook more cautious. • Not predicting which quarter ramps volumes but focused on winning designs.
Segment performance
In Q1, MPS achieved record quarterly revenue of $804 million. Communications end market grew 33% sequentially on the strength of power solutions for optical modules and switches. Pipeline for automotive and enterprise data end markets, including server, continued to accelerate. Sampled first high-speed interface products for DDR5 at major customers. MPS grew capacity past original $4 billion plan to aim for $6 billion in the near future. Revenue contribution % not explicitly broken down in detail but overall diversified market strategy is key.
Risks & headwinds
• Need to adjust to fluid geopolitical and macroeconomic environment. • Supply chain risks related to maintaining diversity and potential constraints faced by other suppliers. • Uncertainties in predicting market trends and the timing of customer ramps for various segments.
Analyst Q&A
Q: Dig into enterprise data side, trends between XPU and CPU server side.
A: CPU has been tailwind, growth drives intact, ramping new and existing customers, transition to modules, plain server tailwind continues.
Q: Storage and computing side, tailwinds/headwinds and difference between storage and computing.
A: Storage side strong indexed to data center, DDR5, HDD and SDD strong; notebook side more cautious due to potential TAM headwinds and lower margins in consumer part.
Q: Manufacturing, strategy around geographic placement of capacity and latest BCD generation.
A: Still around 60 nanometers, may go to 40 nanometers, $4 billion capacity geographically diverse both inside and outside China, focus on maintaining supply chain diversity.
Q: Guidance by segment, which segments above and below.
A: Enterprise data has 85% year over year growth floor as strong ordering patterns continued.
Q: Incremental upside from CPUs vs AI accelerator side.
A: Growth drivers intact, difficult to parse out between volume and content as overlapped.
Q: Capture enterprise data upside, supply or ability to capitalize.
A: NPS is one of the players, provides monolithic power solutions with advantage in power density, focus on delivering better product and winning sockets.
Q: Comms segment growth, could it grow as fast as enterprise data.
A: Comms segment saw strong activities and demand for high power density products, but not predicting market trend exactly.
Q: Sampling of products for 800 or plus minus 400 volts, plans for higher power conversion steps.
A: Sampling, focus on monolithics, integration capabilities, invested in module development since 2016, moving to 40 nanometers for higher power density.
Q: Material revenue from DDR5 high-speed interface product, when to see.
A: Not expecting contributor to 2026 revenue yet, but expanding footprint in the market.
Q: Comms business content in 800 gig optical modules and switches.
A: Don't talk about specific content layers for specific customers.
Q: Distribution channel inventory, inflationary-related pricing trends.
A: Channel lean, shipping to end market demand, input costs higher in some places, may raise prices to maintain margin profiles.
Q: Gross margin, puts and takes on guide.
A: Historically consistent with gross margin guide, Q2 increased incrementally due to better backlog visibility, cautious for second half.
Q: Robotics socket opportunities, incremental content.
A: Battery management, AI compute, actuators involved, variety of applications, difficult to judge dialogue content.
Q: ED segment, growth on merchant vs ASIC solutions.
A: Don't divide into such sides, winning due to power density.
Q: Auto segment visibility and growth in second half.
A: Pipeline expanding, belief ramp later in the year as designs won previously come to market.
Q: Rationale behind focusing on silicon carbide for 800 volt step down vs gallium nitride for lower voltage.
A: Silicon carbide devices proven, reliable, have deep know-how, integrated into modules; previously didn't believe in gallium nitride for higher powers.
Q: Supply chain management strategy and confidence in meeting customer demand.
A: Actively build inventory, listen to customers, product life cycle long, not passive, not limited by supply chain for enterprise data growth outlook.