MPWR - Monolithic Power Non-GAAP EPS of $3.17 beats by $0.04 revenue of $460.02M misses by $0.58M

• Monolithic Power press release ( NASDAQ: MPWR ): Q4 Non-GAAP EPS of $3.17 beats by $0.04 .
• Revenue of $460.02M (+36.7% Y/Y) misses by $0.58M .

• The following are MPS’s financial targets for the first quarter ending March 31, 2023:

  • Revenue in the range of $440.0 million to $460.0 million vs. $449.36M consensus
  • GAAP gross margin between 57.4% and 58.0%. Non-GAAP gross margin (1) between 57.7% and 58.3%, which excludes an estimated impact of stock-based compensation expenses of 0.3%.
  • GAAP research and development (“R&D”) and selling, general and administrative (“SG&A”) expenses, including estimated litigation expenses, between $135.1 million and $139.1 million. Non-GAAP R&D and SG&A expenses (1) between $96.1 million and $98.1 million, which excludes estimated stock-based compensation expenses in the range of $39.0 million to $41.0 million but includes estimated litigation expenses.
  • Total stock-based compensation expenses of $40.2 million to $42.2 million.
  • Beginning with the Q1 2023 outlook, MPS no longer separately forecasts litigation expenses.
  • Interest income of $1.8 million to $2.2 million.
  • The non-GAAP tax rate for the first quarter ending March 31, 2023 will be 12.5%.
  • Fully diluted shares outstanding between 48.2 million and 49.2 million.

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