Monolithic Power Systems Announces Results for the Second Quarter Ended June 30, 2020



SUPPLEMENTAL FINANCIAL INFORMATION 
STOCK-BASED COMPENSATION EXPENSE
(Unaudited, in thousands)

   Three Months Ended June 30,   Six Months Ended June 30, 
   2020   2019   2020   2019 
Cost of revenue $642  $663  $1,199  $1,193 
Research and development  4,962   5,412   9,332   9,841 
Selling, general and administrative  15,440   16,634   29,075   27,685 
Total stock-based compensation expense $21,044  $22,709  $39,606  $38,719 



RECONCILIATION OF NET INCOME TO NON-GAAP NET INCOME
(Unaudited, in thousands, except per share amounts)

   Three Months Ended June 30,   Six Months Ended June 30, 
   2020   2019   2020   2019 
Net income $30,167  $20,693  $65,922  $46,874 
Net income as a percentage of revenue  16.2%   13.7 %     18.7 %     16.0 %
                                 
Adjustments to reconcile net income to non-GAAP net income:                                
Stock-based compensation expense     21,044       22,709       39,606       38,719  
Amortization of acquisition-related intangible assets     -       51       -       102  
Deferred compensation plan expense     460       151       554       15  
Tax effect     (1,111 )     (1,739 )     (11,189 )     (5,937 )
Non-GAAP net income   $ 50,560     $ 41,865     $ 94,893     $ 79,773  
Non-GAAP net income as a percentage of revenue     27.2 %     27.7 %     27.0 %     27.3 %
                                 
Non-GAAP net income per share:                                
Basic   $ 1.13     $ 0.97     $ 2.13     $ 1.86  
Diluted   $ 1.08     $ 0.92     $ 2.03     $ 1.76  
                                 
Shares used in the calculation of non-GAAP net income per share:                                
Basic     44,785       43,109       44,620       42,929  
Diluted     46,831       45,483       46,750       45,358  

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