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MPS ● ● KIRKLAND , WASHINGTON , July 27 , 2021-- Monolithic Power Systems , Inc. ( MPS ) ( Nasdaq : MPWR ) , a global company that provides high - performance , semiconductor - based power electronics solutions , today announced financial results for the quarter ended June 30 , 2021 . ● Revenue was $ 293.3 million for the quarter ended June 30 , 2021 , a 15.3 % increase from $ 254.5 million for the quarter ended March 31 , 2021 and a 57.5 % increase from $ 186.2 million for the quarter ended June 30 , 2020 . GAAP gross margin was 56.0 % for the quarter ended June 30 , 2021 , compared with 55.1 % for the quarter ended June 30 , 2020 . Non - GAAP ( 1 ) gross margin was 56.3 % for the quarter ended June 30 , 2021 , excluding the impact of $ 0.9 million for stock - based compensation expense and $ 0.1 million for deferred compensation plan expense , compared with 55.7 % for the quarter ended June 30 , 2020 , excluding the impact of $ 0.6 million for stock - based compensation expense and $ 0.5 million for deferred compensation plan expense . GAAP operating expenses were $ 103.6 million for the quarter ended June 30 , 2021 , compared with $ 74.6 million for the quarter ended June 30 , 2020 . Non - GAAP ( 1 ) operating expenses were $ 70.3 million for the quarter ended June 30 , 2021 , excluding $ 31.2 million for stock - based compensation expense and $ 2.0 million for deferred compensation plan expense , compared with $ 50.7 million for the quarter ended June 30 , 2020 , excluding $ 20.4 million for stock - based compensation expense and $ 3.6 million for deferred compensation plan expense . GAAP operating income was $ 60.6 million for the quarter ended June 30 , 2021 , compared with $ 28.0 million for the quarter ended June 30 , 2020 . Non - GAAP ( 1 ) operating income was $ 94.9 million for the quarter ended June 30 , 2021 , excluding $ 32.1 million for stock - based compensation expense and $ 2.2 million for deferred compensation plan expense , compared with $ 53.0 million for the quarter ended June 30 , 2020 , excluding $ 21.0 million for stock - based compensation expense and $ 4.0 million for deferred compensation plan expense . GAAP other income , net , was $ 3.0 million for the quarter ended June 30 , 2021 , compared with $ 5.2 million for the quarter ended June 30 , 2020 . Non - GAAP ( 1 ) other income , net , was $ 1.2 million for the quarter ended June 30 , 2021 , excluding $ 1.9 million for deferred compensation plan income , compared with $ 1.6 million for the quarter ended June 30 , 2020 , excluding $ 3.6 million for deferred compensation plan income . GAAP income before income taxes was $ 63.7 million for the quarter ended June 30 , 2021 , compared with $ 33.2 million for the quarter ended June 30 , 2020 . Non - GAAP ( 1 ) income before income taxes was $ 96.1 million for the quarter ended June 30 , 2021 , excluding $ 32.1 million for stock - based compensation expense and $ 0.3 million for deferred compensation plan expense , compared with $ 54.7 million for the quarter ended June 30 , 2020 , excluding $ 21.0 million for stock - based compensation expense , and $ 0.5 million for deferred compensation plan expense . ● ● Monolithic Power Systems Announces Results for the Second Quarter Ended June 30 , 2021 ● ● Exhibit 99.1 PRESS RELEASE For Immediate Release