Monolithic Power Systems Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Monolithic Power Systems Inc. filed its 2023 10-K report detailing its fiscal year-end results and corporate information.</b>

AI Summary

MONOLITHIC POWER SYSTEMS INC (MPWR) filed a Annual Report (10-K) with the SEC on February 29, 2024. Monolithic Power Systems Inc. reported its fiscal year 2023 results. The company's fiscal year ends on December 31st. The filing is a 10-K annual report. The company is incorporated in Delaware. The business and mailing address is 5808 Lake Washington Blvd. NE, Kirkland, WA 98033.

Why It Matters

For investors and stakeholders tracking MONOLITHIC POWER SYSTEMS INC, this filing contains several important signals. This 10-K filing provides a comprehensive overview of Monolithic Power Systems' financial performance and operational status for the fiscal year 2023, crucial for investors to assess the company's health and future prospects. Understanding the details within this report allows stakeholders to evaluate the company's financial position, strategic direction, and potential risks, informing investment decisions.

Risk Assessment

Risk Level: low — MONOLITHIC POWER SYSTEMS INC shows low risk based on this filing. The filing is a standard 10-K, which is a routine annual disclosure for public companies, indicating no immediate or unusual risks are highlighted in the provided metadata.

Analyst Insight

Review the full 10-K filing for detailed financial statements, management discussion and analysis, and risk factors to understand Monolithic Power Systems' performance and outlook.

Key Numbers

• 2023-12-31 — Fiscal Year End (Conformed period of report)
• 2024-02-29 — Filing Date (Filed as of date)
• 0001280452 — Central Index Key (Filer's Central Index Key)
• 3674 — SIC Code (Standard Industrial Classification)

Key Players & Entities

• MONOLITHIC POWER SYSTEMS INC (company) — Filer name
• MPWR (company) — Ticker symbol
• 10-K (document) — Form type
• DE (jurisdiction) — State of incorporation
• 5808 LAKE WASHINGTON BLVD. NE (address) — Business address street 1
• KIRKLAND (location) — Business address city
• WA (location) — Business address state
• 98033 (postal_code) — Business address zip

FAQ

Industry Context

Monolithic Power Systems Inc. operates in the Semiconductors & Related Devices industry.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934.

What Investors Should Do

1. Analyze the financial statements for revenue, net income, and cash flow.
2. Review the Management's Discussion and Analysis for insights into business performance and strategy.
3. Examine the Risk Factors section for potential challenges and uncertainties.

Year-Over-Year Comparison

This is the initial metadata provided for the 2023 10-K filing.

Key Financial Figures

• $0.001 — ich registered Common Stock, par value $0.001 per share MPWR The NASDAQ Global Se

Filing Documents

• mpwr20231231_10k.htm (10-K) — 2213KB
• ex_594949.htm (EX-21.1) — 6KB
• ex_594950.htm (EX-23.1) — 11KB
• ex_594951.htm (EX-31.1) — 8KB
• ex_594952.htm (EX-31.2) — 8KB
• ex_594953.htm (EX-32.1) — 6KB
• ex_603791.htm (EX-97.1) — 38KB
• a01.jpg (GRAPHIC) — 5KB
• graph2023.jpg (GRAPHIC) — 96KB
• 0001437749-24-006133.txt (&nbsp;) — 11287KB
• mpwr-20231231.xsd (EX-101.SCH) — 91KB
• mpwr-20231231_cal.xml (EX-101.CAL) — 82KB
• mpwr-20231231_def.xml (EX-101.DEF) — 565KB
• mpwr-20231231_lab.xml (EX-101.LAB) — 506KB
• mpwr-20231231_pre.xml (EX-101.PRE) — 618KB
• mpwr20231231_10k_htm.xml (XML) — 2124KB

Business

Business 5 Information about Executive Officers 10 Item 1A.

Risk Factors

Risk Factors 11 Item 1B. Unresolved Staff Comments 30 Item 1C. Cybersecurity 30 Item 2.

Properties

Properties 31 Item 3.

Legal Proceedings

Legal Proceedings 31 Item 4. Mine Safety Disclosures 31 PART II Item 5. Market for Registrant ' s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 32 Item 6. [ Reserved ] 34 Item 7. Management ' s Discussion and Analysis of Financial Condition and Results of Operations 34 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 40 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 41 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 73 Item 9A.

Controls and Procedures

Controls and Procedures 73 Item 9B. Other Information 73 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 73 PART III Item 10. Directors, Executive Officers and Corporate Governance 74 Item 11.

Executive Compensation

Executive Compensation 74 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 74 Item 13. Certain Relationships and Related Transactions, and Director Independence 74 Item 14. Principal Accountant Fees and Services 74 PART IV Item 15. Exhibits and Financial Statement Schedules 75 Item 16. Form 10-K Summary 77

Signatures

Signatures 78 3 Table of Contents

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that have been made pursuant to and in reliance on the provisions of the Private Securities Litigation Reform Act of 1995. These statements include, among others, statements concerning: the above-average industry growth of product and market areas that we have targeted; our plan to increase our revenue through the introduction of new products within our existing product families as well as in new product categories and families; our mission statement to reduce energy and material consumption to improve all aspects of quality of life and create a sustainable future; the effects of macroeconomic factors, including the 2023 banking crisis, the global economic downturn, the Russia-Ukraine conflict and the Middle East conflict on the semiconductor industry and our business; the effect that liquidity of our investments has on our capital resources; the continuing application of our products in the storage and computing, enterprise data, automotive, industrial, communications and consumer markets; estimates of our future liquidity requirements; the cyclical nature of the semiconductor industry; our belief that we may incur significant legal expenses that vary with the level of activity in each of our current or future legal proceedings; expectations regarding protection of our proprietary technology; business outlook for 2024 and beyond; the factors that we believe will impact our business, operations and financial condition, as well as our ability to achieve revenue growth; the expected percentage of our total revenue from various end markets; our ability to identify, acquire and integrate companies, businesses and products, and achieve the anticipated benefits from such acquisitions and integrations; the expected imp

Business

Business General Monolithic Power Systems, Inc. ("MPS") is a fabless global company that provides high-performance, semiconductor-based power electronics solutions. Incorporated in 1997, our three core strengths include deep system-level knowledge, strong semiconductor design expertise, and innovative proprietary technologies in the areas of semiconductor processes, system integration, and packaging. These combined advantages enable us to deliver reliable, compact, and monolithic solutions found in storage and computing, enterprise data, automotive, industrial, communications and consumer applications. Our mission is to reduce energy and material consumption to improve all aspects of quality of life and create a sustainable future. We believe that we differentiate ourselves by offering solutions that are more highly integrated, smaller in size, more energy-efficient, more accurate with respect to performance specifications and, consequently, more cost-effective than many competing solutions. We plan to continue to introduce new products within our existing product families, as well as in new innovative product categories. Our principal executive office is located in Kirkland, Washington. We have over 3,500 employees worldwide, with locations in Asia (primarily in China, India, Japan, Singapore, South Korea and Taiwan), Europe (primarily in France, Germany, Hungary, Italy, Portugal, Spain, Switzerland and the United Kingdom) and the United States. Industry Overview Semiconductors comprise the basic building blocks of electronic systems and equipment. Within the semiconductor industry, components can be classified either as discrete devices, such as individual transistors or integrated circuits ("ICs"), in which a number of transistors and other elements are combined to form a more complicated electronic circuit. ICs can be further divided into three primary categories: digital, analog, and mixed-signal. Digital ICs, such as memory devices and microprocessors,

View Full Filing

View this 10-K filing on SEC EDGAR