MONOLITHIC POWER SYSTEMS INC (MPWR): auditor change — Monolithic Power restates 2024-2025 financials due to $195M deferred tax error

MONOLITHIC POWER SYSTEMS INC

2024 GAAP net income decreased by $195M to $1.592B; EPS diluted $32.60 vs. prev. $36.59.
2025 GAAP net income increased by $5.5M to $621.5M; EPS diluted $12.86 vs. prev. $12.75.
Error is non-cash, no impact on revenue, non-GAAP net income, or business outlook for Q1 2026.
Restatement stems from accounting for a foreign tax incentive; no misconduct involved.
Previously issued 2024 10-K and 2025 quarterly reports should no longer be relied upon.

item 4.02

Key facts

Extracted from this filing and checked against the source text.

Auditor Changes SEC 8-K Item 4.01/4.02 confidence 0.9

MONOLITHIC POWER SYSTEMS INC reported that prior financial statements should not be relied upon.

Action: non reliance

Exact text from the filing

determined that the Company’s previously issued audited consolidated financial statements included in its annual report on Form 10-K for the fiscal year ended December 31, 2024, filed on March 3, 2025, and each of the Company’s previously issued unaudited condensed consolidated financial statements included in its quarterly reports on Form 10-Q for each of the quarterly periods in 2025 (each a “Previous Filing” and collectively “Previous Filings”), should no longer be relied upon

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Source: SEC EDGAR

accession 0001437749-26-006112

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