MPWR Q2 revenue $507.4M (record, +15% YoY); board declassification plan

MONOLITHIC POWER SYSTEMS INC

2024-Q2 EPS reported $3.94 revenue$965,316,000

Q2 revenue $507.4M, record high, up 15% YoY and above top end of guidance.
Non-GAAP EPS $3.17 (+12.4% YoY); GAAP EPS $2.05 (+0.5% YoY).
Enterprise Data revenue $187.2M (+290% YoY) driven by AI power solutions.
Q3 revenue guidance $590-610M, implying QoQ growth of 16-20%.
Board to propose declassification to annual elections by 2030; stockholder vote in 2025.

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