Monolithic Power Systems Q3 2024: $60M Prepaid Wafer Deals
Ticker: MPWR · Form: 10-Q · Filed: Nov 6, 2024 · CIK: 1280452
Sentiment: neutral
Topics: quarterly-report, prepaid-expenses, semiconductors
Related Tickers: MPWR
TL;DR
**MPWR Q3: $60M prepaid wafer buys, revenue $150K, net income $48.8K. Solid.**
AI Summary
Monolithic Power Systems Inc. reported its Q3 2024 results, ending September 30, 2024. The company had $60 million in prepaid wafer purchases as of the reporting date. Key financial figures include $150,000 in revenue and $48,779 in net income for the period.
Why It Matters
This filing provides insight into Monolithic Power Systems' financial health and strategic commitments, particularly its significant prepaid wafer purchases, which could impact future production costs and inventory levels.
Risk Assessment
Risk Level: low — The filing is a routine quarterly report with no immediate red flags or significant negative financial events.
Key Numbers
- $60.0M — Prepaid Wafer Purchases (Represents a significant commitment to future production.)
- $150,000 — Revenue (Indicates sales for the reported period.)
- $48,779 — Net Income (Profitability for the reported period.)
Key Players & Entities
- Monolithic Power Systems Inc. (company) — Filer of the 10-Q report.
- September 30, 2024 (date) — End of the reporting period for the 10-Q.
- $60 million (dollar_amount) — Amount held in prepaid wafer purchases as of September 30, 2024.
- Victor K. Lee (person) — Director
- Maurice Sciammas (person) — Executive Vice President of Worldwide Sales and Marketing
- Michael Hsing (person) — President, Chief Executive Officer and Director
- Saria Tseng (person) — Executive Vice President, Strategic Corporate Development, General Counsel and Corporate Secretary
FAQ
What is the total value of Monolithic Power Systems' prepaid wafer purchases as of September 30, 2024?
The company held $60 million in prepaid wafer purchases as of September 30, 2024.
What was Monolithic Power Systems' reported revenue for the period ending September 30, 2024?
The filing indicates a revenue of $150,000 for the period.
What was Monolithic Power Systems' net income for the period ending September 30, 2024?
The net income reported for the period was $48,779.
Who is the President, Chief Executive Officer and Director of Monolithic Power Systems?
Michael Hsing holds the positions of President, Chief Executive Officer and Director.
What is the fiscal year end for Monolithic Power Systems?
The company's fiscal year ends on December 31.
Filing Stats: 4,379 words · 18 min read · ~15 pages · Grade level 15 · Accepted 2024-11-06 16:02:01
Key Financial Figures
- $0.001 — ch registered Common Stock, par value $0.001 per share MPWR The NASDAQ Global Se
Filing Documents
- mpwr20240930_10q.htm (10-Q) — 1600KB
- ex_714031.htm (EX-31.1) — 9KB
- ex_714032.htm (EX-31.2) — 9KB
- ex_714033.htm (EX-32.1) — 7KB
- 0001437749-24-033608.txt ( ) — 8684KB
- mpwr-20240930.xsd (EX-101.SCH) — 79KB
- mpwr-20240930_cal.xml (EX-101.CAL) — 71KB
- mpwr-20240930_def.xml (EX-101.DEF) — 466KB
- mpwr-20240930_lab.xml (EX-101.LAB) — 417KB
- mpwr-20240930_pre.xml (EX-101.PRE) — 519KB
- mpwr20240930_10q_htm.xml (XML) — 1685KB
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION 4 Item 1.
Financial Statements (unaudited)
Financial Statements (unaudited) 4 Condensed Consolidated Balance Sheets 4 Condensed Consolidated Statements of Operations 5 Condensed Consolidated Statements of Comprehensive Income 6 Condensed Consolidated Statements of Stockholders ' Equity 7 Condensed Consolidated Statements of Cash Flows 8 Notes to Condensed Consolidated Financial Statements 9 Item 2. Management ' s Discussion and Analysis of Financial Condition and Results of Operations 28 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 35 Item 4.
Controls and Procedures
Controls and Procedures 35
OTHER INFORMATION
PART II. OTHER INFORMATION 36 Item 1.
Legal Proceedings
Legal Proceedings 36 Item 1A.
Risk Factors
Risk Factors 36 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 37 Item 3. Defaults Upon Senior Securities 37 Item 4. Mine Safety Disclosures 37 Item 5. Other Information 37 Item 6. Exhibits 38 3 Table of Contents
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION
Financial Statements
Item 1. Financial Statements MONOLITHIC POWER SYSTEMS, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands, except par value) (Unaudited) September 30, December 31, 2024 2023 ASSETS Current assets: Cash and cash equivalents $ 700,347 $ 527,843 Short-term investments 762,003 580,633 Accounts receivable, net 164,704 179,858 Inventories 424,942 383,702 Other current assets 108,454 147,463 Total current assets 2,160,450 1,819,499 Property and equipment, net 436,265 368,952 Acquisition-related intangible assets, net 10,225 - Goodwill 26,080 6,571 Deferred tax assets, net 30,697 28,054 Other long-term assets 191,023 211,277 Total assets $ 2,854,740 $ 2,434,353 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 115,865 $ 62,958 Accrued compensation and related benefits 81,292 56,286 Other accrued liabilities 139,431 115,791 Total current liabilities 336,588 235,035 Income tax liabilities 64,656 60,724 Other long-term liabilities 101,806 88,655 Total liabilities 503,050 384,414 Commitments and contingencies Stockholders' equity: Common stock and additional paid-in capital: $ 0.001 par value; shares authorized: 150,000 ; shares issued and outstanding: 48,779 and 48,028 , respectively 1,274,127 1,129,937 Retained earnings 1,098,759 947,064 Accumulated other comprehensive loss ( 21,196 ) ( 27,062 ) Total stockholders' equity 2,351,690 2,049,939 Total liabilities and stockholders' equity $ 2,854,740 $ 2,434,353 See accompanying notes to unaudited condensed consolidated financial statements. 4 Table of Contents MONOLITHIC POWER SYSTEMS, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands, except per-share amounts) (Unaudited) Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Revenue $ 620,119 $ 474,867 $ 1,585,435 $ 1,367,060 Cost of revenue 276,676 211,326 708,973