← Filings of MPWR
Tables in the 10-Q of MONOLITHIC POWER SYSTEMS, INC.
53 tables with numbers, filed Nov 5, 2025. Each one downloads as a CSV for Excel or
Google Sheets, with the filing's address in the last row. Only the layout is tidied (a "$" or ")" in a cell of its own is joined to its number); no value is changed.
Open the filing on sec.gov ↗
| PAGE | |
| PART I. FINANCIAL INFORMATION | 4 | |
| Item 1. | 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 |
First 8 of 20 rows. The CSV has all of them.
| September 30, | | December 31, | | |
| 2025 | | 2024 | | |
| ASSETS | | | | | |
| Current assets: | | | | | |
| Cash and cash equivalents | $1,081,251 | | | $691,816 | |
| Short-term investments | | 188,233 | | | 171,130 |
| Accounts receivable, net | | 241,560 | | | 172,518 |
| Inventories | | 505,680 | | | 419,611 |
First 8 of 32 rows. The CSV has all of them.
| Three Months Ended September 30, | | Nine Months Ended September 30, | | | | | | |
| 2025 | | 2024 | | 2025 | | 2024 | | |
| Revenue | $737,176 | | | $620,119 | | | $2,039,304 | $1,585,435 | |
| Cost of revenue | | 330,948 | | | | 276,676 | | 913,830 | 708,973 |
| Gross profit | | 406,228 | | | | 343,443 | | 1,125,474 | 876,462 |
| Operating expenses: | | | | | | | | | |
| Research and development | | 98,173 | | | | 85,051 | | 286,666 | 238,986 |
| Selling, general and administrative | | 112,872 | | | | 94,364 | | 310,108 | 261,425 |
First 8 of 20 rows. The CSV has all of them.
| Three Months Ended September 30, | | Nine Months Ended September 30, | | | | | | |
| 2025 | | 2024 | | 2025 | | 2024 | | |
| Net income | $178,274 | | | $144,430 | | | $445,791 | $337,337 | |
| Other comprehensive income, net of tax: | | | | | | | | | |
| Foreign currency translation adjustments | | 919 | | | | 22,321 | | 25,692 | 4,186 |
| Change in unrealized gains and losses on available-for-sale securities, net of tax of $17, $37, $17 and $(161), respectively | | 69 | | | | 977 | | 116 | 1,680 |
| Other comprehensive income, net of tax | | 988 | | | | 23,298 | | 25,808 | 5,866 |
| Comprehensive income | $179,262 | | | $167,728 | | | $471,599 | $343,203 | |
| | | | | | | | | | | Accumulated | | |
| Common Stock and | | | | | Other | | Total | | | | | |
| Additional Paid-in Capital | | Retained | Comprehensive | | Stockholders’ | | | | | | | |
| Three Months Ended September 30, 2025 | Shares | | Amount | Earnings | | Loss | | Equity | | | | | |
| Balance as of July 1, 2025 | | 47,892 | | $822,582 | | | $2,603,177 | | | $(23,691) | | $3,402,068 | |
| Net income | | - | | | - | | | | 178,274 | | | - | 178,274 |
| Other comprehensive income | | - | | | - | | | | - | | | 988 | 988 |
| Dividends and dividend equivalents declared ($1.56 per share) | | - | | | - | | | | (75,924) | | | - | (75,924) |
First 8 of 12 rows. The CSV has all of them.
| | | | | | | | | | | Accumulated | | |
| Common Stock and | | | | | Other | | Total | | | | | |
| Additional Paid-in Capital | | Retained | Comprehensive | | Stockholders’ | | | | | | | |
| Three Months Ended September 30, 2024 | Shares | | Amount | Earnings | | Loss | | Equity | | | | | |
| Balance as of July 1, 2024 | | 48,698 | | $1,224,144 | | | $1,016,208 | | | $(44,494) | | $2,195,858 | |
| Net income | | - | | | - | | | | 144,430 | | | - | 144,430 |
| Other comprehensive income | | - | | | - | | | | - | | | 23,298 | 23,298 |
| Dividends and dividend equivalents declared ($1.25 per share) | | - | | | - | | | | (61,879) | | | - | (61,879) |
First 8 of 12 rows. The CSV has all of them.
| | | | | | | | | | | Accumulated | | |
| Common Stock and | | | | | Other | | Total | | | | | |
| Additional Paid-in Capital | | Retained | Comprehensive | | Stockholders’ | | | | | | | |
| Nine Months Ended September 30, 2025 | Shares | | Amount | Earnings | | Loss | | Equity | | | | | |
| Balance as of January 1, 2025 | | 47,823 | | $706,817 | | | $2,487,461 | | | $(48,511) | | $3,145,767 | |
| Net income | | - | | | - | | | | 445,791 | | | - | 445,791 |
| Other comprehensive income | | - | | | - | | | | - | | | 25,808 | 25,808 |
| Dividends and dividend equivalents declared ($4.68 per share) | | - | | | - | | | | (227,725) | | | - | (227,725) |
First 8 of 12 rows. The CSV has all of them.
| | | | | | | | | | | Accumulated | | |
| Common Stock and | | | | | Other | | Total | | | | | |
| Additional Paid-in Capital | | Retained | Comprehensive | | Stockholders’ | | | | | | | |
| Nine Months Ended September 30, 2024 | Shares | | Amount | Earnings | | Loss | | Equity | | | | | |
| Balance as of January 1, 2024 | | 48,028 | | $1,129,937 | | | $947,064 | | | $(27,062) | | $2,049,939 | |
| Net income | | - | | | - | | | | 337,337 | | | - | 337,337 |
| Other comprehensive income | | - | | | - | | | | - | | | 5,866 | 5,866 |
| Dividends and dividend equivalents declared ($3.75 per share) | | - | | | - | | | | (185,642) | | | - | (185,642) |
First 8 of 12 rows. The CSV has all of them.
| Nine Months Ended September 30, | | | | |
| 2025 | | 2024 | | |
| Cash flows from operating activities: | | | | | |
| Net income | $445,791 | | | $337,337 | |
| Adjustments to reconcile net income to net cash provided by operating activities: | | | | | |
| Depreciation and amortization | | 38,270 | | | 26,387 |
| Amortization of discount on available-for-sale securities | | (3,894) | | | (16,684) |
| Gain on deferred compensation plan investments | | (8,023) | | | (9,180) |
First 8 of 43 rows. The CSV has all of them.
Table 10 after “The Company recognized stock-based compensation expense as follows (in thousands):”
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| Three Months Ended September 30, | | Nine Months Ended September 30, | | | | | | |
| 2025 | | 2024 | | 2025 | | 2024 | | |
| Cost of revenue | $1,916 | | | $1,576 | | | $5,502 | $4,585 | |
| Research and development (“R&D”) | | 12,578 | | | | 11,331 | | 36,725 | 33,460 |
| Selling, general and administrative (“SG&A”) | | 46,183 | | | | 38,491 | | 131,354 | 111,585 |
| Total stock-based compensation expense | $60,677 | | | $51,398 | | | $173,581 | $149,630 | |
| Tax benefit related to stock-based compensation (1) | $756 | | | $766 | | | $1,919 | $2,272 | |
Table 11 after “A summary of RSU activity is presented in the table below (in thousands, except per-share amounts):”
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| Time-Based RSUs | | PSUs and MPSUs | MSUs | Total | | | | | | | | | | | | | |
| | | | Weighted- | | | | | | Weighted- | | | | | Weighted- | | Weighted- | |
| | | | Average | | | | | | Average | | | | | Average | | Average | |
| | | | Grant Date | | | | | | Grant Date | | | | | Grant Date | | Grant Date | |
| Number of | | Fair Value | Number of | | Fair Value | | Number of | | Fair Value | | Number of | Fair Value | | | | | |
| Shares | | Per Share | Shares | | Per Share | | Shares | | Per Share | | Shares | Per Share | | | | | |
| Outstanding at January 1, 2025 | | 85 | | $516.12 | | | 681 | | | | $524.08 | | | 938 | | $203.32 | 1,704 | $347.01 |
| Granted | | 38 | | $650.32 | | | 274 | | (1) | | $564.69 | | | - | | $- | 312 | $574.95 |
First 8 of 11 rows. The CSV has all of them.
Table 12 after “Inventories consist of the following (in thousands):”
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| September 30, | | December 31, | | |
| 2025 | | 2024 | | |
| Raw materials | $77,254 | | | $91,851 | |
| Work in process | | 210,471 | | | 169,982 |
| Finished goods | | 217,955 | | | 157,778 |
| Total | $505,680 | | | $419,611 | |
Table 13 after “Other current assets consist of the following (in thousands):”
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| September 30, | | December 31, | | |
| 2025 | | 2024 | | |
| Prepaid wafer expenses (1) | $60,000 | | | $- | |
| Other receivables (1) | | - | | | 60,000 |
| Other | | 36,021 | | | 49,978 |
| Total | $96,021 | | | $109,978 | |
Table 14 after “Other long-term assets consist of the following (in thousands):”
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| September 30, | | December 31, | | |
| 2025 | | 2024 | | |
| Deferred compensation plan assets | $101,905 | | | $92,586 | |
| Prepaid wafer purchases (1) | | - | | | 60,000 |
| Other | | 59,150 | | | 41,791 |
| Total | $161,055 | | | $194,377 | |
Table 15 after “Other accrued liabilities consist of the following (in thousands):”
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| September 30, | | December 31, | | |
| 2025 | | 2024 | | |
| Dividends and dividend equivalents | $79,935 | | | $60,622 | |
| Income tax payable (1) | | 51,350 | | | 10,534 |
| Stock rotation and sales returns | | 31,854 | | | 20,799 |
| Other | | 38,374 | | | 36,168 |
| Total | $201,513 | | | $128,123 | |
Table 16 after “Other long-term liabilities consist of the following (in thousands):”
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| September 30, | | December 31, | | |
| 2025 | | 2024 | | |
| Deferred compensation plan liabilities | $98,926 | | | $93,653 | |
| Operating lease liabilities | | 15,076 | | | 12,974 |
| Dividend equivalents | | 3,378 | | | 4,943 |
| Total | $117,380 | | | $111,570 | |
Table 17 after “The following table summarizes the balances of operating lease right-of-use (“ROU”) assets and liabilities (in thousands):”
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| | September 30, | December 31, | |
| Financial Statement Line Item | 2025 | 2024 | |
| Operating lease ROU assets | Other long-term assets | $19,737 | | $16,915 |
| Operating lease liabilities | Other accrued liabilities | $3,778 | | $2,819 |
| Other long-term liabilities | $15,076 | | $12,974 |
Table 18 after “The following tables summarize certain information related to the leases (in thousands, except percentages and years):”
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| Three Months Ended September 30, | | Nine Months Ended September 30, | | | | | | |
| 2025 | | 2024 | | 2025 | | 2024 | | |
| Lease costs: | | | | | | | | | |
| Operating lease costs | $1,350 | | | $948 | | | $3,742 | $2,859 | |
| Other | | 864 | | | | 822 | | 2,458 | 2,020 |
| Total lease costs | $2,214 | | | $1,770 | | | $6,200 | $4,879 | |
Table 19 after “The following tables summarize certain information related to the leases (in thousands, except percentages and years):”
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| Three Months Ended September 30, | Nine Months Ended September 30, | | | | |
| 2025 | 2024 | | 2025 | 2024 | |
| Cash paid for amounts included in the measurement of lease liabilities: | | | | | | |
| Operating cash flows for operating leases | $1,273 | | $1,704 | | $3,434 | $3,404 |
| ROU assets obtained in exchange for new operating lease liabilities | $- | | $2,339 | | $5,206 | $11,610 |
Table 20 after “The following tables summarize certain information related to the leases (in thousands, except percentages and years):”
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| September 30, | | December 31, | |
| 2025 | | 2024 | |
| Weighted-average remaining lease term (in years) | | 9.7 | | 11.5 |
| Weighted-average discount rate | | 5.5% | | 5.5% |
Table 21 after “As of September 30, 2025, the maturities of the lease liabilities were as follows (in thousands):”
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| 2025 (remaining three months) | $1,300 | |
| 2026 | | 4,441 |
| 2027 | | 3,937 |
| 2028 | | 2,743 |
| 2029 | | 1,954 |
| Thereafter | | 11,471 |
| Total remaining lease payments | | 25,846 |
| Less: imputed interest | | (6,992) |
First 8 of 9 rows. The CSV has all of them.
Table 22 after “The following table sets forth the computation of basic and diluted net income per share (in thousands, except per-share amounts):”
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| Three Months Ended September 30, | | Nine Months Ended September 30, | | | | | | |
| 2025 | | 2024 | | 2025 | | 2024 | | |
| Numerator: | | | | | | | | | |
| Net income | $178,274 | | | $144,430 | | | $445,791 | $337,337 | |
| Denominator: | | | | | | | | | |
| Weighted-average outstanding shares—basic | | 47,898 | | | | 48,757 | | 47,879 | 48,692 |
| Effect of dilutive securities | | 144 | | | | 207 | | 143 | 253 |
| Weighted-average outstanding shares—diluted | | 48,042 | | | | 48,964 | | 48,022 | 48,945 |
First 8 of 11 rows. The CSV has all of them.
Table 23 after “The Company sells its products to end customers primarily through third-party distributors and value-added resellers. The following table su”
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| Three Months Ended September 30, | | Nine Months Ended September 30, | | | | | |
| Customer | 2025 | | 2024 | 2025 | | 2024 | | |
| Distributor A | | 26% | | | 24% | | 25% | 33% |
| Distributor B | | 18% | | | 25% | | 18% | 19% |
| Distributor C | | * | | | * | | 10% | * |
Table 24 after “The following table summarizes those customers with accounts receivable equal to 10% or more of the Company’s total net accounts receivable:”
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| September 30, | | December 31, | |
| Customer | 2025 | | 2024 | |
| Distributor A | | 31% | | 28% |
| Distributor B | | 17% | | 29% |
Table 25 after “The Company derives a majority of its revenue from sales to customers located outside North America, with geographic revenue based on the cu”
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| Three Months Ended September 30, | | Nine Months Ended September 30, | | | | | | |
| Country or Region | 2025 | | 2024 | | 2025 | | 2024 | | |
| China | $393,837 | | | $310,472 | | | $1,155,508 | $856,026 | |
| Taiwan | | 155,978 | | | | 179,747 | | 377,289 | 407,593 |
| South Korea | | 62,882 | | | | 51,815 | | 190,747 | 126,865 |
| Southeast Asia | | 39,023 | | | | 22,772 | | 106,596 | 47,363 |
| Europe | | 33,577 | | | | 25,145 | | 85,066 | 61,992 |
| U.S. | | 29,937 | | | | 13,797 | | 63,313 | 42,544 |
First 8 of 11 rows. The CSV has all of them.
Table 26 after “The following is a summary of long-lived assets by geographic region (in thousands):”
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| September 30, | | December 31, | | |
| Country | 2025 | | 2024 | | |
| China | $308,174 | | | $237,649 | |
| U.S. | | 170,934 | | | 171,514 |
| Taiwan | | 58,764 | | | 42,388 |
| Other | | 59,439 | | | 43,394 |
| Total | $597,311 | | | $494,945 | |
Table 27 after “The changes in warranty reserves were as follows (in thousands) for the periods presented:”
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| Three Months Ended September 30, | | Nine Months Ended September 30, | | | | | | |
| 2025 | | 2024 | | 2025 | | 2024 | | |
| Balance at beginning of period | $3,045 | | | $14,702 | | | $5,401 | $16,906 | |
| Warranties issued | | 2,665 | | | | 570 | | 3,230 | 2,895 |
| Repairs, replacement and refund | | (145) | | | | (849) | | (1,633) | (4,979) |
| Changes in liability for pre-existing warranties | | 760 | | | | (79) | | (673) | (478) |
| Balance at end of period | $6,325 | | | $14,344 | | | $6,325 | $14,344 | |
Table 28 after “million prepayment, as of September 30, 2025 were as follows (in thousands):”
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| 2025 (remaining three months) | $117,079 | |
| 2026 | | 349,330 |
| 2027 | | 31,936 |
| 2028 | | 486 |
| 2029 | | 486 |
| Total | $499,317 | |
Table 29 after “The following is a summary of the Company’s cash, cash equivalents and debt investments (in thousands):”
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| September 30, | | December 31, | | |
| 2025 | | 2024 | | |
| Cash | $580,992 | | | $679,949 | |
| Money market funds | | 500,259 | | | 11,867 |
| Certificates of deposit | | 154,489 | | | 164,418 |
| U.S. treasuries and government agency bonds | | 33,249 | | | - |
| Auction-rate securities backed by student-loan notes | | 74 | | | 148 |
| Corporate debt securities | | - | | | 6,712 |
First 8 of 9 rows. The CSV has all of them.
Table 30 after “The following is a summary of the Company’s cash, cash equivalents and debt investments (in thousands):”
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| September 30, | | December 31, | | |
| 2025 | | 2024 | | |
| Reported as: | | | | | |
| Cash and cash equivalents | $1,081,251 | | | $691,816 | |
| Investment within short-term investments | | 187,738 | | | 171,130 |
| Investment within other long-term assets | | 74 | | | 148 |
| Total | $1,269,063 | | | $863,094 | |
Table 31 after “The following table summarizes the contractual maturities of the short-term and long-term available-for-sale investments as of September 30,”
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| Amortized Cost | | Fair Value | | |
| Due in less than 1 year | $89,419 | | | $89,427 | |
| Due in 1 - 5 years | | 98,311 | | | 98,311 |
| Due in greater than 5 years | | 75 | | | 74 |
| Total | $187,805 | | | $187,812 | |
Table 32 after “The following tables summarize the unrealized gain and loss positions related to the available-for-sale investments (in thousands):”
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| September 30, 2025 | | | | | | | | |
| Amortized Cost | | Unrealized Gains | | Unrealized Losses | | Fair Value | | |
| Money market funds | $500,259 | | | $- | | | $- | $500,259 | |
| Certificates of deposit | | 154,489 | | | | - | | - | 154,489 |
| U.S. treasuries and government agency bonds | | 33,241 | | | | 8 | | - | 33,249 |
| Auction-rate securities backed by student-loan notes | | 75 | | | | - | | (1) | 74 |
| Total | $688,064 | | | $8 | | | $(1) | $688,071 | |
Table 33 after “The following tables summarize the unrealized gain and loss positions related to the available-for-sale investments (in thousands):”
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| December 31, 2024 | | | | | | | |
| Amortized Cost | | Unrealized Losses | | Fair Value | | | |
| Money market funds | $11,867 | | | $- | | | $11,867 | |
| Certificates of deposit | | 164,418 | | | | - | | 164,418 |
| Corporate debt securities | | 6,779 | | | | (67) | | 6,712 |
| Auction-rate securities backed by student-loan notes | | 150 | | | | (2) | | 148 |
| Total | $183,214 | | | $(69) | | | $183,145 | |
Table 34 after “The following tables present information about the available-for-sale investments that had been in a continuous unrealized loss position for”
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| September 30, 2025 | | |
| Greater than 12 Months | | |
| Fair Value | Unrealized Losses | |
| Auction-rate securities backed by student-loan notes | $74 | | $(1) |
| Total | $74 | | $(1) |
Table 35 after “The following tables present information about the available-for-sale investments that had been in a continuous unrealized loss position for”
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| December 31, 2024 | | | | |
| Greater than 12 Months | | | | |
| Fair Value | | Unrealized Losses | | |
| Corporate debt securities | $6,712 | | | $(67) | |
| Auction-rate securities backed by student-loan notes | | 148 | | | (2) |
| Total | $6,860 | | | $(69) | |
Table 36 after “The following table provides a reconciliation of cash, cash equivalents and restricted cash reported on the Condensed Consolidated Balance S”
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| September 30, | | December 31, | | |
| 2025 | | 2024 | | |
| Cash and cash equivalents | $1,081,251 | | | $691,816 | |
| Restricted cash included in other long-term assets | | 142 | | | 125 |
| Total cash, cash equivalents and restricted cash reported on the Condensed Consolidated Statements of Cash Flows | $1,081,393 | | | $691,941 | |
Table 37 after “The following tables detail the fair value of the Company’s financial assets measured on a recurring basis (in thousands):”
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| September 30, 2025 | | | | | | | | |
| Total | | Level 1 | | Level 2 | | Level 3 | | |
| Money market funds | $500,259 | | | $500,259 | | | $- | $- | |
| Certificates of deposit | | 154,489 | | | | - | | 154,489 | - |
| U.S. treasuries and government agency bonds | | 33,249 | | | | - | | 33,249 | - |
| Auction-rate securities backed by student-loan notes | | 74 | | | | - | | - | 74 |
| Mutual funds and money market funds under deferred compensation plan | | 70,994 | | | | 70,994 | | - | - |
| Total | $759,065 | | | $571,253 | | | $187,738 | $74 | |
Table 38 after “The following tables detail the fair value of the Company’s financial assets measured on a recurring basis (in thousands):”
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| December 31, 2024 | | | | | | | | |
| Total | | Level 1 | | Level 2 | | Level 3 | | |
| Money market funds | $11,867 | | | $11,867 | | | $- | $- | |
| Certificates of deposit | | 164,418 | | | | - | | 164,418 | - |
| Corporate debt securities | | 6,712 | | | | - | | 6,712 | - |
| Auction-rate securities backed by student-loan notes | | 148 | | | | - | | - | 148 |
| Mutual funds and money market funds under deferred compensation plan | | 65,337 | | | | 65,337 | | - | - |
| Total | $248,482 | | | $77,204 | | | $171,130 | $148 | |
Table 39 after “The following table summarizes the deferred compensation plan balances on the Condensed Consolidated Balance Sheets (in thousands):”
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| September 30, | | December 31, | | |
| 2025 | | 2024 | | |
| Deferred compensation plan asset components: | | | | | |
| Cash surrender value of corporate-owned life insurance policies | $30,911 | | | $27,249 | |
| Fair value of mutual funds and money market funds | | 70,994 | | | 65,337 |
| Total | $101,905 | | | $92,586 | |
| Deferred compensation plan assets reported in: | | | | | |
| Other long-term assets | $101,905 | | | $92,586 | |
First 8 of 12 rows. The CSV has all of them.
Table 40 after “The components of other income, net, were as follows (in thousands) for the periods presented:”
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| Three Months Ended September 30, | | Nine Months Ended September 30, | | | | | | |
| 2025 | | 2024 | | 2025 | | 2024 | | |
| Interest income | $8,338 | | | $6,805 | | | $20,078 | $20,349 | |
| Amortization of discount on available-for-sale securities | | 1,009 | | | | 6,644 | | 3,894 | 16,684 |
| Gain on deferred compensation plan investments | | 3,793 | | | | 3,894 | | 8,023 | 9,180 |
| Charitable commitments | | (3,194) | | | | (6,400) | | (4,094) | (18,550) |
| Other | | 446 | | | | (665) | | (158) | (333) |
| Total | $10,392 | | | $10,278 | | | $27,743 | $27,330 | |
Table 41 after “The following table summarizes the changes in accumulated other comprehensive loss (in thousands):”
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| Unrealized | | | | | | | |
| Losses on | | Foreign Currency | | | | | |
| Available-for-Sale | | Translation | | | | | |
| Securities | | Adjustments | | Total | | | |
| Balance as of January 1, 2025 | $(790) | | | $(47,721) | | | $(48,511) | |
| Other comprehensive income before reclassifications | | 43 | | | | 5,139 | | 5,182 |
| Amounts reclassified from accumulated other comprehensive income | | 5 | | | | - | | 5 |
| Net current period other comprehensive income | | 48 | | | | 5,139 | | 5,187 |
First 8 of 16 rows. The CSV has all of them.
Table 42 after “The Company has a dividend program approved by its Board of Directors, pursuant to which the Company intends to pay quarterly cash dividends”
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| Three Months Ended September 30, | Nine Months Ended September 30, | | | | |
| 2025 | 2024 | | 2025 | 2024 | |
| Dividend declared per share | $1.56 | | $1.25 | | $4.68 | $3.75 |
| Total amount | $74,731 | | $60,974 | | $224,130 | $182,680 |
Table 43 after “The table below sets forth the data on the Condensed Consolidated Statements of Operations as a percentage of revenue:”
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| Three Months Ended September 30, | | Nine Months Ended September 30, | | | | | | | | | | | | | |
| 2025 | | 2024 | 2025 | | 2024 | | | | | | | | | | |
| (In thousands, except percentages) | | | | | | | | | | | | | | | |
| Revenue | $737,176 | | | 100.0% | | | $620,119 | | 100.0% | | $2,039,304 | | 100.0% | $1,585,435 | 100.0% | |
| Cost of revenue | | 330,948 | | | 44.9 | | | 276,676 | | 44.6 | | 913,830 | | 44.8 | 708,973 | 44.7 |
| Gross profit | | 406,228 | | | 55.1 | | | 343,443 | | 55.4 | | 1,125,474 | | 55.2 | 876,462 | 55.3 |
| Operating expenses: | | | | | | | | | | | | | | | | |
| Research and development | | 98,173 | | | 13.3 | | | 85,051 | | 13.7 | | 286,666 | | 14.1 | 238,986 | 15.1 |
First 8 of 15 rows. The CSV has all of them.
Table 44 after “The following table summarizes our revenue by end market:”
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| Three Months Ended September 30, | | Nine Months Ended September 30, | | | | | | | | | | | | | | | | |
| End Market | 2025 | | % of Revenue | 2024 | | % of Revenue | | 2025 | | % of Revenue | | 2024 | | % of Revenue | | | | | |
| (In thousands, except percentages) | | | | | | | | | | | | | | | | | | |
| Storage and Computing | $186,572 | | | 25.3% | | | $143,993 | | | | 23.2% | | | $570,403 | | 28.0% | $365,069 | 23.0% | |
| Enterprise Data | | 191,482 | | | 26.0 | | | | 184,459 | | | | 29.7 | | 468,370 | | 23.0 | 521,397 | 32.9 |
| Automotive | | 151,540 | | | 20.6 | | | | 111,344 | | | | 18.0 | | 441,576 | | 21.7 | 285,629 | 18.0 |
| Communications | | 79,868 | | | 10.8 | | | | 71,884 | | | | 11.6 | | 225,322 | | 11.1 | 162,095 | 10.2 |
| Consumer | | 72,399 | | | 9.8 | | | | 64,401 | | | | 10.4 | | 189,009 | | 9.2 | 144,704 | 9.1 |
First 8 of 10 rows. The CSV has all of them.
Table 45 after “Cost of revenue primarily consists of costs incurred to manufacture, assemble and test our products, as well as warranty costs, inventory-re”
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| Three Months Ended September 30, | | Nine Months Ended September 30, | | | | | | |
| 2025 | | 2024 | | 2025 | | 2024 | | |
| (In thousands, except percentages) | | | | | | | | |
| Cost of revenue | $330,948 | | | $276,676 | | | $913,830 | $708,973 | |
| As a percentage of revenue | | 44.9% | | | | 44.6% | | 44.8% | 44.7% |
| Gross profit | $406,228 | | | $343,443 | | | $1,125,474 | $876,462 | |
| Gross margin | | 55.1% | | | | 55.4% | | 55.2% | 55.3% |
Table 46 after “R&D expenses primarily consist of cash compensation and benefits, stock-based compensation and deferred compensation for design and product ”
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| Three Months Ended September 30, | | Nine Months Ended September 30, | | | | | | |
| 2025 | | 2024 | | 2025 | | 2024 | | |
| (In thousands, except percentages) | | | | | | | | |
| R&D expenses | $98,173 | | | $85,051 | | | $286,666 | $238,986 | |
| As a percentage of revenue | | 13.3% | | | | 13.7% | | 14.1% | 15.1% |
Table 47 after “SG&A expenses primarily include cash compensation and benefits, stock-based compensation and deferred compensation for sales, marketing and ”
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| Three Months Ended September 30, | | Nine Months Ended September 30, | | | | | | |
| 2025 | | 2024 | | 2025 | | 2024 | | |
| (In thousands, except percentages) | | | | | | | | |
| SG&A expenses | $112,872 | | | $94,364 | | | $310,108 | $261,425 | |
| As a percentage of revenue | | 15.3% | | | | 15.2% | | 15.2% | 16.5% |
Table 48 after “Liquidity and Capital Resources”
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| September 30, | | December 31, | | |
| 2025 | | 2024 | | |
| (In thousands, except percentages) | | | | |
| Cash and cash equivalents | $1,081,251 | | | $691,816 | |
| Short-term investments | | 188,233 | | | 171,130 |
| Total cash, cash equivalents and short-term investments | $1,269,484 | | | $862,946 | |
| Percentage of total assets | | 30.2% | | | 23.9% |
| Total current assets | $2,112,745 | | | $1,565,053 | |
First 8 of 10 rows. The CSV has all of them.
Table 49 after “The following table summarizes our cash flow activities:”
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| Nine Months Ended September 30, | | | | |
| 2025 | | 2024 | | |
| (In thousands) | | | | |
| Net cash provided by operating activities | $733,292 | | | $620,729 | |
| Net cash used in investing activities | | (145,718) | | | (296,128) |
| Net cash used in financing activities | | (208,567) | | | (186,853) |
| Effect of change in exchange rates | | 10,445 | | | 1,552 |
| Net increase in cash, cash equivalents and restricted cash | $389,452 | | | $139,300 | |
Table 50 after “The following table represents details of our stock repurchase transactions during the three months ended September 30, 2025:”
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| Period | Total Number of Shares Purchased | | | Average Price Paid per Share | | Total Number of Shares Purchased as Part of Publicly Announced Program | | Approximate Dollar Value of Shares that May Yet Be Purchased Under the Program | |
| (In thousands, except per share amounts) | | | | | | | | |
| July 1, 2025 – July 31, 2025 | | 1 | | | $732.97 | | 1 | | $496,669 |
| August 1, 2025 – August 31, 2025 | | 1 | | | $827.71 | | 1 | | $496,008 |
| September 1, 2025 – September 30, 2025 | | - | (a) | | $871.40 | | - | (a) | $495,349 |
| Total | | 2 | | | $804.98 | | 2 | | |
Table 51 after “The following table summarizes the adoption of trading plans intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) during”
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| Name and Title | Adoption Date | Plan Duration | Intended Sale Amount (in shares) |
| Victor K. Lee, Director | August 25, 2025 | Through August 31, 2026 | Up to 2,000 |
| Michael Hsing, President, Chief Executive Officer and Director | August 28, 2025 | Through August 31, 2026 | Up to 100,000 |
Table 52 after “The following table summarizes the termination of trading plans intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) dur”
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| Name and Title | Termination Date | Original Plan Duration | Intended Sale Amount (in shares) | Sold Amount (in shares) |
| Deming Xiao, Executive Vice President, Global Operations | August 5, 2025 | Through February 27, 2026 | Up to 160,000 | 39,999 |
| Exhibit No. | Description |
| 31.1 | Certification of Chief Executive Officer pursuant to Securities Exchange Act Rules 13a-14(a) and 15d-14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. |
| 31.2 | Certification of Chief Financial Officer pursuant to Securities Exchange Act Rules 13a-14(a) and 15d-14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. |
| 32.1* | Certification of Chief Executive Officer and Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. |
| 101.INS | Inline XBRL Instance Document - the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document |
| 101.SCH | Inline XBRL Taxonomy Extension Schema Document |
| 101.CAL | Inline XBRL Taxonomy Extension Calculation Linkbase Document |
| 101.DEF | Inline XBRL Taxonomy Extension Definition Linkbase Document |
First 8 of 11 rows. The CSV has all of them.