In Q2 2025, MPS maintained high growth in the AI-driven power semiconductor cycle, transitioning from a PMIC supplier to a "system power platform provider." It focuses on AI servers, high-voltage DC, and penetrates upstream client designs in 800V platforms and battery management.
Q2 key data: Revenue $664.6 million (+31% YoY, +4.2% QoQ); H1 total $1.302 billion (+34.9% YoY). GAAP gross margin 55.1%, non-GAAP 55.5%. Operating profit and net income surged; non-GAAP EPS $4.21 (+32.8% YoY). Storage/computing, automotive, and communication segments grew over 65% YoY; enterprise data market rebounded QoQ. Q3 forecast: revenue $710–730 million, margin ~55%.
In AI data centers, MPS’ system-level power platform transition drove $144 million in Q2 revenue (+8.4% QoQ), offering full solutions for 800V structures with multiple projects to launch in 18–24 months.
Automotive revenue hit $145 million (+66.4% YoY), leveraging 48V system shifts with integrated platforms (advanced packaging + digital configuration software) to support vehicle electronics upgrades.
System integration capabilities are key—MPS now delivers standardized power architectures, benefiting from structural industry trends.
ICgoodFind: MPS’ standout Q2 underscores successful transformation, with strong growth ahead.
