Income Statement
Quarterly Data
The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.
Paying user area
Try for free
Monolithic Power Systems Inc. pages available for free this week:
- Statement of Comprehensive Income
- Balance Sheet: Assets
- Cash Flow Statement
- Common-Size Balance Sheet: Assets
- Analysis of Profitability Ratios
- Capital Asset Pricing Model (CAPM)
- Present Value of Free Cash Flow to Equity (FCFE)
- Debt to Equity since 2005
- Price to Operating Profit (P/OP) since 2005
- Price to Sales (P/S) since 2005
The data is hidden behind: . Unhide it.
Get full access to the entire website from $10.42/mo, or
get 1-month access to Monolithic Power Systems Inc. for $22.49.
This is a one-time payment. There is no automatic renewal.
We accept:
Monolithic Power Systems Inc., consolidated income statement (quarterly data)
US$ in thousands
Based on: 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
The financial data reveals a consistent upward trend in revenue over the analyzed periods, growing from approximately $166 million in early 2020 to over $637 million by the first quarter of 2025. Revenue increases show periodic accelerations, notably between 2021 and 2022, and again from 2023 onward, indicating strong top-line growth momentum.
Cost of revenue has also risen steadily, from about $74 million in the first quarter of 2020 to around $284 million by the first quarter of 2025. However, the growth in cost of revenue is proportionate to revenue increases, reflecting ongoing operational scaling. Gross profit has grown significantly, increasing from roughly $91 million to $353 million across the same timeframe. This suggests that despite rising costs, the company has maintained a relatively robust gross margin, with gross profit margins moderately improving as the business expands.
Operating expenses, which include research and development as well as selling, general, and administrative costs, have generally increased in absolute terms. Research and development expenses rose from about $26 million to $92 million, indicating sustained and heightened investment in innovation or product development. Selling, general, and administrative expenses increased from approximately $35 million to $92 million, reflecting expanded operational and marketing activities possibly aligned with revenue growth.
Operating income experienced considerable growth, starting near $31 million in early 2020 and reaching approximately $169 million by the first quarter of 2025, despite some fluctuations. The income trend highlights improved operational efficiency and scaling benefits, although there were intermediate periods where operating income growth decelerated, potentially due to margin pressure or increased expenses.
Other income (expense), net, fluctuated over time with both positive and negative values reported. From a loss of about $1.7 million in early 2020, it shifted into gains peaking around $10 million in some quarters, indicating variable contributions from non-operational activities or financial instruments, which periodically boosted overall profitability.
Income before income taxes followed a pattern similar to operating income, increasing substantially from approximately $29 million to nearly $174 million. This points to strong profitability before tax considerations, supported by operational gains and other income fluctuations.
Income tax expenses showed notable volatility. Initially moderate, the tax expense increased significantly reaching nearly $40 million in some quarters but then demonstrated an extraordinary spike with a large tax benefit exceeding $1.27 billion in the first quarter of 2025, followed by a reversion to more typical levels. This anomaly suggests a one-time tax event, adjustment, or benefit markedly affecting net income in that period.
Net income growth mirrors the overall positive profit trajectory, moving from about $36 million to over $133 million by early 2025, excluding the extraordinary tax-affected quarter where net income surged past $1.4 billion. This trend reflects the company’s ability to translate revenue growth into bottom-line profits, driven by expanding gross profits, controlled operating expenses relative to revenue, and occasional gains from other income sources. The exceptional net income spike due to tax benefits is a significant outlier relative to the consistent earnings growth trend.
- Revenue
- Consistent growth from $166M to $638M, with stronger increases in 2021-2022 and post-2023.
- Cost of Revenue
- Rises in line with revenue, reaching $284M, maintaining gross margin stability.
- Gross Profit
- Strong increase from $91M to $353M, indicating sustained profitability at the gross level.
- Research and Development Expenses
- Continuous growth, reflecting raised investments, from $26M to $92M.
- Selling, General and Administrative Expenses
- Increased with scale, from $35M to $92M, supporting expansion.
- Operating Income
- Grew from $31M to $169M with fluctuations, showing improved operating efficiency.
- Other Income (Expense), Net
- Variable, switching from losses to gains, sometimes contributing up to $10M positively.
- Income Before Taxes
- Rises in line with operating income and other income, reaching $174M.
- Income Tax Expense
- Generally increased with income but includes a large, atypical tax benefit exceeding $1.27B in early 2025.
- Net Income
- Steady growth from $36M to $134M, except for a large spike to $1.4B linked to the tax event.