MONOLITHIC POWER SYSTEMS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited, in thousands, except per share amounts)
| Three Months Ended March 31, | ||||||||
| 2022 | 2021 | |||||||
| Revenue | $ | 377,714 | $ | 254,455 | ||||
| Cost of revenue | 158,834 | 113,396 | ||||||
| Gross profit | 218,880 | 141,059 | ||||||
| Operating expenses: | ||||||||
| Research and development | 54,104 | 41,892 | ||||||
| Selling, general and administrative | 67,153 | 51,453 | ||||||
| Litigation expense | 1,489 | 1,628 | ||||||
| Total operating expenses | 122,746 | 94,973 | ||||||
| Operating income | 96,134 | 46,086 | ||||||
| Other income (expense), net | (634 | ) | 2,587 | |||||
| Income before income taxes | 95,500 | 48,673 | ||||||
| Income tax expense | 15,934 | 3,260 | ||||||
| Net income | $ | 79,566 | $ | 45,413 | ||||
| Net income per share: | ||||||||
| Basic | $ | 1.71 | $ | 1.00 | ||||
| Diluted | $ | 1.65 | $ | 0.95 | ||||
| Weighted-average shares outstanding: | ||||||||
| Basic | 46,424 | 45,498 | ||||||
| Diluted | 48,250 | 47,711 | ||||||
