Monolithic Power Systems reported Q2 2024 revenue of $507.4 million, up 15.0% YoY and 10.8% QoQ. GAAP net income was $100.4 million or $2.05 per diluted share. Non-GAAP net income reached $155.1 million or $3.17 per diluted share. The company saw strong growth in Enterprise Data, while other segments experienced declines.MPS announced plans to declassify its Board of Directors over a six-year period, responding to a majority shareholder vote at the 2024 annual meeting. The phased approach aims to maintain continuity and stability while transitioning to annual director elections by 2030.For Q3 2024, MPS projects revenue between $590.0-$610.0 million and non-GAAP gross margin of 55.5%-56.1%. The company expects continued success from its long-term growth strategy and transformation into a full solutions provider.

Monolithic Power Systems reported Q2 2024 revenue of $507.4 million, up 15.0% YoY and 10.8% QoQ. GAAP net income was $100.4 million or $2.05 per diluted share. Non-GAAP net income reached $155.1 million or $3.17 per diluted share. The company saw strong growth in Enterprise Data, while other segments experienced declines.MPS announced plans to declassify its Board of Directors over a six-year period, responding to a majority shareholder vote at the 2024 annual meeting. The phased approach aims to maintain continuity and stability while transitioning to annual director elections by 2030.For Q3 2024, MPS projects revenue between $590.0-$610.0 million and non-GAAP gross margin of 55.5%-56.1%. The company expects continued success from its long-term growth strategy and transformation into a full solutions provider.