MPWR - Monolithic Power Systems gains 7% on guiding Q3 revenue above consensus

• Monolithic Power Systems ( MPWR ) reported Non-GAAP EPS of $3.25 excluding $42.9 million for stock-based compensation expense, $0.3 million for net deferred compensation plan income and $0.3 million for related tax effects against consensus of $2.94.
• Revenue was $461.0 million, up 57.2% Y/Y driven by 112% Y/Y growth in storage and computing.
• Revenue breakout by End Market:
• Storage and Computing:$122.28M, up 112% Y/Y
• Enterprise Data: $65.2M, up 118% Y/Y
• Automotive: $61M, up 25% Y/Y
• Industrial: $55.8M, up 29% Y/Y
• Communications: $59.3M, up 58% Y/Y
• Consumer: $97.3M, up 28% Y/Y
• Revenue breakout by product:
• DC to DC: $442.2M, up 58% Y/Y
• Lighting Control: $18.75M, up 29% Y/Y.
• 3Q22 Guidance: Revenue in the range of $480.0 million to $500.0 million vs. $399.68M consensus.
• GAAP gross margin between 58.4% and 59.0%. Non-GAAP gross margin between 58.7% and 59.3%.
• Litigation expense of $2.3 million to $2.7 million.
• Fully diluted shares outstanding between 47.9 million and 48.9 million.

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