About
Monolithic Power Systems
Monolithic Power Systems, Inc. (“MPS”) is a global company that provides high-performance, semiconductor-based power electronics solutions. MPS’s mission is to reduce energy and material consumption to improve all aspects of quality of life. Founded in 1997 by our CEO Michael Hsing, MPS has three core strengths: deep system-level knowledge, strong semiconductor design expertise, and innovative proprietary semiconductor process and system integration technologies. These combined advantages enable MPS to provide customers with reliable, compact and monolithic solutions that offer highly energy-efficient and cost-effective products, as well as providing a consistent return on investment to our stockholders. MPS can be contacted through its website at
www.monolithicpower.com or its support offices around the world.
Monolithic Power Systems, MPS, and the MPS logo are registered trademarks of Monolithic Power Systems, Inc. in the U.S. and trademarked in certain other countries.
Contact:
Bernie Blegen
Chief Financial Officer
Monolithic Power Systems, Inc.
408-826-0777
investors@monolithicpower.com
MONOLITHIC POWER SYSTEMS, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited, in thousands, except par value)
| March 31, | December 31, | |||||||
| 2022 | 2021 | |||||||
| ASSETS | ||||||||
| Current assets: | ||||||||
| Cash and cash equivalents | $ | 260,604 | $ | 189,265 | ||||
| Short-term investments | 512,908 | 535,817 | ||||||
| Accounts receivable, net | 120,318 | 104,813 | ||||||
| Inventories | 311,040 | 259,417 | ||||||
| Other current assets | 42,266 | 35,540 | ||||||
| Total current assets | 1,247,136 | 1,124,852 | ||||||
| Property and equipment, net | 369,374 | 362,962 | ||||||
| Goodwill | 6,571 | 6,571 | ||||||
| Deferred tax assets, net | 22,848 | 21,917 | ||||||
| Other long-term assets | 68,052 | 69,523 | ||||||
| Total assets | $ | 1,713,981 | $ | 1,585,825 | ||||
| LIABILITIES AND STOCKHOLDERS ’ EQUITY | ||||||||
| Current liabilities: | ||||||||
| Accounts payable | $ | 71,572 | $ | 83,027 | ||||
| Accrued compensation and related benefits | 89,869 | 62,635 | ||||||
| Other accrued liabilities | 111,087 | 81,282 | ||||||
| Total current liabilities | 272,528 | 226,944 | ||||||
| Income tax liabilities | 49,782 | 47,669 | ||||||
| Other long-term liabilities | 65,559 | 67,227 | ||||||
| Total liabilities | 387,869 | 341,840 | ||||||
| Commitments and contingencies | ||||||||
| Stockholders’ equity: | ||||||||
| Common stock and additional paid-in capital: $0.001 par value; shares authorized: 150,000; shares issued and outstanding: 46,625 and 46,256, respectively | 847,966 | 803,226 | ||||||
| Retained earnings | 467,844 | 424,879 | ||||||
| Accumulated other comprehensive income | 10,302 | 15,880 | ||||||
| Total stockholders’ equity | 1,326,112 | 1,243,985 | ||||||
| Total liabilities and stockholders’ equity | $ | 1,713,981 | $ | 1,585,825 | ||||
