Monolithic Power Systems, Inc. stock research
FY2025 Q2
Monolithic Power Systems (MPWR) Gross Margin — Quarter Ended Jun 30, 2025
Revenue, gross profit, and cost of revenue all increased compared to the immediately preceding quarter and the same quarter one year earlier. Gross margin was slightly lower than both prior periods, reflecting that cost of revenue grew proportionally more than revenue.
Gross margin takeaway
Quarter ended Jun 30, 2025 · FY2025 Q2
Revenue, gross profit, and cost of revenue all increased compared to the immediately preceding quarter and the same quarter one year earlier. Gross margin was slightly lower than both prior periods, reflecting that cost of revenue grew proportionally more than revenue.
- The strongest observable driver is the proportionally larger increase in cost of revenue relative to the increase in revenue, which led to a marginal decline in gross margin.
- Revenue, gross profit, and cost of revenue were higher than the previous quarter and the year-ago quarter. Gross margin was slightly lower than both the prior quarter and the year-ago quarter.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
55.1%
Gross profit
$366.0M
Revenue
$664.6M
Cost of revenue
$298.6M
Quarter-over-quarter change
-0.3 pts
Year-over-year change
-0.2 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 |
|---|---|---|---|---|
| Sep 30, 2024 | $620.1M | $343.4M | $276.7M | 55.4% |
| Dec 31, 2024 | $621.7M | $344.4M | $277.3M | 55.4% |
| Mar 31, 2025 | $637.6M | $353.2M | $284.3M | 55.4% |
| Jun 30, 2025 | $664.6M | $366.0M | $298.6M | 55.1% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Mar 31, 2025
-0.3 pts
Year-over-year change
Jun 30, 2024
-0.2 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The strongest observable driver is the proportionally larger increase in cost of revenue relative to the increase in revenue, which led to a marginal decline in gross margin.
Revenue, gross profit, and cost of revenue were higher than the previous quarter and the year-ago quarter. Gross margin was slightly lower than both the prior quarter and the year-ago quarter.
Monitor inventory levels, which have increased from the prior year-end as shown in the balance sheet.