Monolithic Power Systems, Inc. stock research
FY2025 Q3
Monolithic Power Systems (MPWR) Gross Margin — Quarter Ended Sep 30, 2025
Revenue and gross profit both increased compared to the prior quarter and the same quarter last year, while the gross margin remained stable sequentially and was modestly lower year over year. Cost of revenue rose in line with revenue, keeping the gross margin essentially unchanged from the preceding quarter.
Gross margin takeaway
Quarter ended Sep 30, 2025 · FY2025 Q3
Revenue and gross profit both increased compared to the prior quarter and the same quarter last year, while the gross margin remained stable sequentially and was modestly lower year over year. Cost of revenue rose in line with revenue, keeping the gross margin essentially unchanged from the preceding quarter.
- The gross margin was unchanged from the prior quarter, as increases in revenue and cost of revenue moved in tandem. Compared to a year ago, the gross margin was slightly lower, reflecting a marginally higher cost structure relative to revenue.
- Gross margin was stable compared to the immediately preceding quarter, but weakened slightly from the same quarter one year earlier. Revenue and gross profit were higher on both a sequential and year-over-year basis.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
55.1%
Gross profit
$406.2M
Revenue
$737.2M
Cost of revenue
$330.9M
Quarter-over-quarter change
+0.0 pts
Year-over-year change
-0.3 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, 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% |
| Sep 30, 2025 | $737.2M | $406.2M | $330.9M | 55.1% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Jun 30, 2025
+0.0 pts
Year-over-year change
Sep 30, 2024
-0.3 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The gross margin was unchanged from the prior quarter, as increases in revenue and cost of revenue moved in tandem. Compared to a year ago, the gross margin was slightly lower, reflecting a marginally higher cost structure relative to revenue.
Gross margin was stable compared to the immediately preceding quarter, but weakened slightly from the same quarter one year earlier. Revenue and gross profit were higher on both a sequential and year-over-year basis.
Monitor changes in inventory levels, which grew notably from year-end and may signal future cost or working capital trends.