Monolithic Power Systems, Inc. stock research
FY2024 Q3
Monolithic Power Systems (MPWR) Gross Margin — Quarter Ended Sep 30, 2024
Revenue, gross profit, and cost of revenue all increased compared to both the prior quarter and the same quarter last year. Gross margin remained stable, showing only a slight change from the prior quarter and the year-ago period.
Gross margin takeaway
Quarter ended Sep 30, 2024 · FY2024 Q3
Revenue, gross profit, and cost of revenue all increased compared to both the prior quarter and the same quarter last year. Gross margin remained stable, showing only a slight change from the prior quarter and the year-ago period.
- The strongest observable margin driver is the consistent gross margin, which remained nearly unchanged quarter over quarter and year over year, indicating that cost of revenue grew at a similar pace to revenue.
- Compared to the immediately preceding quarter, revenue and gross profit were higher, while gross margin was essentially stable. Compared to the same quarter one year earlier, revenue and gross profit were also higher, with gross margin remaining broadly similar.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
55.4%
Gross profit
$343.4M
Revenue
$620.1M
Cost of revenue
$276.7M
Quarter-over-quarter change
+0.1 pts
Year-over-year change
-0.1 pts
Quarterly gross margin trend
A four-quarter view of the revenue and direct-cost bridge behind gross margin.
| Period | Revenue | Gross profit | Cost of revenue | Gross margin |
|---|---|---|---|---|
| Dec 31, 2023 | $454.0M | $251.1M | $202.9M | 55.3% |
| Mar 31, 2024 | $457.9M | $252.4M | $205.4M | 55.1% |
| Jun 30, 2024 | $507.4M | $280.6M | $226.9M | 55.3% |
| Sep 30, 2024 | $620.1M | $343.4M | $276.7M | 55.4% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Jun 30, 2024
+0.1 pts
Year-over-year change
Sep 30, 2023
-0.1 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The strongest observable margin driver is the consistent gross margin, which remained nearly unchanged quarter over quarter and year over year, indicating that cost of revenue grew at a similar pace to revenue.
Compared to the immediately preceding quarter, revenue and gross profit were higher, while gross margin was essentially stable. Compared to the same quarter one year earlier, revenue and gross profit were also higher, with gross margin remaining broadly similar.
Monitor whether the relationship between revenue and cost of revenue continues to move in tandem, as any divergence could affect gross margin stability.