Monolithic Power Systems, Inc.

Company facts

Industry

Semiconductors & Related Devices

Headquarters

West Palm Beach, Florida

Most recent report

10-Q, filed Nov 3, 2026

Incorporated

Delaware

Filings on record

1,000+ filings

On EDGAR

CIK 1280452

Fiscal year ends

December

Filer status

Large accelerated filer

What to read: Sep 2026 10-Q

SECSift found 6 of 13 sections worth reading, with 3 positive, 10 notable, and 1 negative flags.

• Financial Statements (Item 1)

  Financial statements and notes with material balance-sheet swings, buyback, and concentration details.
  Notable

  • Unamortized stock compensation expense was $816M as of Sep 2026, with a three-year recognition period.
  • Effective tax rate rose to 26.1% in Q3 2026 from 12.6% a year ago due to 2025 tax law changes.

• Management's Discussion (Item 2)

  Revenue surged 63% QoQ; enterprise data +165%; tax rate doubled; buyback pace accelerated.
  Positive

  • Revenue up 63% to $1.20B in Q3 2026; enterprise data +165% to $507M, now 42% of sales.
  • Gross margin improved to 55.4% in Q3 2026 from 55.1% a year ago, driven by product mix.
  Notable

  • Asia direct sales were 93% of revenue in Q3 2026, up from 91% a year ago.
  • Purchase commitments total $767M, with $730M due within a year.
  • Repurchased $453M of stock in Q3 2026; board added $500M to authorization in July 2026.

• Controls and Procedures (Item 4)

  Material weakness in internal controls not remediated; disclosure controls ineffective as of Sep 30, 2026.
  Notable

  • Management expects to remediate by end of FY2026 but states no assurance on timing.
  Negative

  • CEO, CFO, CAO concluded disclosure controls were not effective as of Sep 30, 2026 due to the material weakness.

• Legal Proceedings (Item 1)

  New securities class action and derivative suits filed in 2025-2026, with unspecified damages sought.
  Notable

  • Securities class action filed Feb 2025 alleging Exchange Act violations; company says meritless.
  • Derivative suits filed in Mar 2025 and Jun 2026 alleging fiduciary duty breaches; stayed pending securities action.
  • Both suits seek unspecified damages and fees; no accrual or probable loss estimate given.

• Unregistered Sales and Repurchases (Item 2)

  Large buyback activity and a doubled authorization in the period.
  Positive

  • Repurchased $453.4M in Q3 2026, a large cash return to shareholders.

• Other Information (Item 5)

  Three top executives terminated 10b5-1 plans; CEO sold 30k shares of 60k authorized.
  Notable

  • No new 10b5-1 plans were adopted or modified by any executive officer in Q3 2026.

What changed: Sep 2026 vs. Jun 2026

About 5% of MPWR's Sep 2026 10-Q is new information. 13 paragraphs were added, 98 changed, and 19 removed. Below are the most important lines SECSift identified.

• Item 2 33
• Item 1 26
• Item 6 6
• Item 4 4
• Item 5 2
• Item 3 1