MPWR - Earnings call transcript Q2 2020 | Monolithic Power Systems, Inc.

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Genevieve Cunningham

Welcome everyone to the MPS Second Quarter 2020 Earnings Webinar. Please note that this webinar is being recorded and will be archived for one year on our Investor Relations page at www.monolithicpower.com. My name is Genevieve Cunningham and I will be the moderator for this webinar.

Joining me today are Michael Hsing, CEO and Founder of MPS; and Bernie Blegen, VP and CFO.

During this webinar, we will discuss our Q2 2020 financial results and guidance for Q3 2020, followed by a Q&A session. muted. currently are you Analysts from [Operator Instructions] be risk webinar, will differ of uncertainty and the forward-looking statements course materially to making results involve could today's current and views which expectations. we cause In management's projections and that to statement contained the published earnings in Harbor Safe refer the release Please today. SEC factors Form earnings cause the and, actual are filed statements Harbor Risks, www.monolithicpower.com. release Safe website XXth, our differ in in to XXXX our XXXX, through other accessible Form on contained uncertainties QX filings results on February that XX-Q our could which the XX-K May and our in including are and identified XXth, filed information assumes on today's obligation call. update MPS no the provided to

operating on I have reconciliation with XXXX A included GAAP and that XXXX, releases, our financial the GAAP to reconciling we and not measures income, posted net that in as income, be as release non-GAAP a basis. in outlines both the of income, accordance interest, with financial non-GAAP QX refer prepared would and in tables the superior are to expense, the will We gross to expense, QX margin, accordance other with XXXX, our which measures earnings GAAP. measures discussing financial SEC. table and is not the investors and measures prepared performance financial between earnings operating to filed website. QX as a well These or should a GAAP are substitute non-GAAP for considered SG&A R&D, be and on

Blegen. Bernie over to Now, turn I'd like call to the

Bernie Blegen

XXXX quarter XX.X% the of $XXX.X in first higher quarter than Thanks Gen. quarter XX.X% million, revenue comparable MPS higher achieved XXXX. the second than and of record

broad-based except revenue growth quarter Second automotive. for was

of result in up growth revenue level quality growth our capacity, diversified innovation. performance assurance, a and growth opportunities to and of strong of step and investments headcount. Our us was requires Maintaining future for our XXXX, this technological superior realizing COVID-XX strategy spite pandemic, the in year-over-year infrastructure,

We outside expanding capabilities our are also operating China.

by revenue Turning now quarter to our XXXX market. second

and storage reflected of $XX.X quarter Computing increase represented XX.X% revenue. of sequential The along increased with revenue in Second of revenue quarter revenue. revenue and storage first XX.X% from quarter storage strength revenue MPS' million XXXX. $XX.X second increased or computing notebook million the

server higher of levels the than quarter and Second revenue elevated in of achieved year. first maintained quarter the second was revenue the prior significantly the quarter server XXXX

quarter improved quarterly consumer applications, Things. quarter of the Second represented stands a Variety sales of of acronym reflected consoles, which XX.X% first second revenue XXXX and for revenue a products from our increase of for XX.X% new sequential of VOT, The revenue. million and $XX.X gaming home increased quarter XXXX IOT,

up did quarter communications applications. as Communications XG sales sales was communications represented including revenue XX.X% X.X% XXXX. from Second legacy of and infrastructure, XXXX by of for quarter our of quarter revenue. sales Product XXXX million total first second sequentially increased networking router the $XX.X of wireless

security of total of based revenue Industrial revenue industrial represented XXXX as sources more in offset a for revenue. first X.X% second quarter than power increased product XXXX, quarter XX.X% the of Second million, quarter increased our decrease from $XX.X sales. revenue

includes across of past our have the revenue market expectations the travel production point Second growth Again, and applications returns. well first believe of as automotive COVID-XX positioned MPS the now out COVID-related MPS total of ADAS quarter is from when quarter in largely board. activities XXXX, the million, four pandemic the exceeded by pandemic. lighting, that response unimpacted automotive Automotive quarter of second X.X% for MPS' remain should of restrictions, the accelerate shut XXXX smart number driving. revenue. fell our was design to infotainment, The to revenue and automotive and quarter OEMs autonomous of encompasses $XX.X of we the down XX.X% months in I despite most range the

new gross relationships of lower customers. the solid XX with tier top was continuing XXXX and basis of critical We compared customer XXXX. GAAP the margin markets. quarter particularly position than have XX.X%, success and first MPS engagement with points second seen These flat in for these quarter long-term

margin quarter XX the of reported than was in Our points to ago. from second XXXX. and was XXXX XX income a quarter quarter XXXX GAAP for XXXX $XX.X in the of gross $XX.X first up operating points basis million year the reported the million of of compared higher and first Non-GAAP million in second gross XX.X%, $XX.X margin the basis quarter from second reported quarter the

compared non-GAAP Our second $XX.X the million the prior million quarter XXXX. reported of reported in million $XX.X and in operating to income was $XX.X quarter

our review operating expenses. Let's

operating we the million $XX.X were of the operating as and million, $XX.X quarter quarter first XXXX, stock from GAAP expense and million Our million were up compensation from in differences the GAAP reported XXXX. are operating of and XXXX. an discussed the quarter second compensation up here between quarter million the $XX.X XXXX, and $XX.X The in second second deferred spent with operating from expenses loss non-GAAP of $XX.X for first expenses million $XX.X quarter XXXX in Non-GAAP second in of compared expenses income quarter plan. unfunded the expenses or quarter the in XXXX the of

quarter was stock recorded of million quarter to of to charged including the in expense compared line. XXXX, the the compensation million, $XXX,XXX second $XX.X For $XX.X XXXX. Switching approximately goods first the of with bottom cost total sold

of compared or QX end first $XX.X the quarter in $X.XX XXXX or $XX.X million, share second Fully income $XX.X was fully the per XXXX. shares outstanding of GAAP quarter quarter $X.XX $XX.X in were quarter million, with compared or QX of XXXX XXXX. per share or fully million, net non-GAAP income first million. per the quarter per $XX.X or of $X.XX diluted Second share, in the second $X.XX $X.XX and net XXXX per share the million, in was $XX.X XXXX, $X.XX million, per with diluted of at and $XX.X share or share diluted million,

the $XXX.X at of of XXXX, XXXX. let's of look first second end Cash, quarter to the the quarter end at investments cash million equivalents Now, balance the of $XXX and sheet. at million compared were

MPS flow $XX.X with flow operating of $XX.X XXXX quarter, million. compared operating cash the cash For generated QX about of million,

quarter XX in the of six capital the first days XXXX quarter reported the $XX.X than spending was totaled Second quarter at three of $XX.X receivable outstanding, Accounts of second of of second million. quarter days XXXX the which days days the than the days lower representing XX at end XXXX. lower XXXX XX and ended million, sales

the second the up million, the of $XXX.X from of of XXXX were the the the to the XXX like end quarter would of of quarter at were our quarter second end million at end Days Our inventory internal for inventories to five of XXXX. days higher $XXX.X quarter of at days outlook the now than of the turn XXXX. of the end third XXXX at XXXX. I of of first quarter first

still point in of year is the midst visibility the this we we year. COVID crisp see the for demand pandemic, not at remainder usually as in As are as of the

revenue to $XXX We in million the $XXX of million. are range QX forecasting

the XX.X% between be $XX.X $X.X charged sold. million should in XX.X to million that range and goods gross between and conclusion, range be $XX.X the year-over-year. also $X.X shares. gross million. expense margin the We XX.X%, $XX.X cost would from of million, continue approximately margin should of $X.X to GAAP shares million income of expenses total $XX.X GAAP be be interest to to to million, including In $XXX,XXX in million to million following; to range million Non-GAAP million of we to compensation in SG&A Litigation and $XX.X XX.X%, range range is expect R&D to diluted the expenses should million grow of to XX.X% R&D expense stock-based non-GAAP $XX.X the fully and and SG&A $X.X XX.X range in of million. expected

We are the I the reach frontiers. our in open design excited the about new now our for and webinar will in questions. pipeline expanding activities

Genevieve Cunningham

question Q&A from from Instructions] Analyst, now now to Stifel. open. comes Bernie. you, is your Svanberg our Tore Tore, would Thank begin [Operator Our line I session. first like

Tore Svanberg

thank Yes, strong on Michael quarter. you. very Bernie congratulations another and

that at outside talking of there design some stuff, are China. not about you get mention manufacturing this of Before I exploring I'm beginning operations side working into China but outside did here, something point? the you the centers near-term are you on on the at else something

Michael Hsing

try We outside expand to we're okay, another X-inch a XX-inch fabs, Yes. another exploring as fab as of China. and fab well

Tore Svanberg

September getting the quarter a September as very on us give revenue, business server continue congratulations quarterly $XXX end about I'm on into But and market maybe end good. the to markets talk could to drive Okay, that's million the to that the some takes maybe strong. and going growth? mean, to quarter? sure of puts you little in going I the look is bit we each at remain going and And storage

Michael Hsing

Yeah. And for product to the a now And telecommunications just are everybody and Tore, than we and Bernie well. they'll earlier And segments. blocks, segment all these in of management is fundamental this very pandemic building power including okay? power automotive. use all devices supply infrastructures and one electronic And and our for clearly knows are supply MPS IoTs doing building for other as these automotive data centers the segments blocks as all okay these and PCs said all and as grow. well

Bernie Blegen

Very broad based.

Michael Hsing

Yeah.

Tore Svanberg

good. Very

that's low pretty just And I linearity. The Anything on question. else I last one now there? purely Just mean, assume is going Bernie. DSO

Bernie Blegen

No.

sales think always is the XX of initial the record I had collections credit we've how quarter and and the days a good QX. reflection track in a with really front-loaded in were very

Tore Svanberg

Congratulations again. you. Thank

Bernie Blegen

Tore. you, Thank

Michael Hsing

Tore. you. Thank

Genevieve Cunningham

Quinn line from next Bolton from question now Needham. your Our open. comes Quinn, is

Quinn Bolton

comments including strong years echo the and of understandable you the you, obviously COVID less outbreak. Bernie, September. visibility today some But COVID guess sort guess quarters I first I you being three clear congratulations. than guidance bit of me with a for about it's guys in had very a Thank year little have my let past, made

about that may the quarter the a strength Just seasonally as out your may be then demand? can that us Or quarter? talk of beyond game perhaps I've particular ramp leading thoughts factors September console look certain wondering And this there follow-up. soften we to to on the are got you sustainability in September the some

Bernie Blegen

Sure.

want current we to did benefit from that in we we've after accelerated that nature the become big demand experienced. where we complacent, had QX the like we in just have environment of don't end a patterns, of ordering seen think the at because -- falloffs run-up I macro given particularly just

have that seeing past monitor. that market So we it causes that us in anything but just something that isn't to us concern, it's the tells specifically we're experience

Michael Hsing

we Yes. grow will segment comment including The QX, didn't the our statement and -- in expect that at automotive. We okay? Bernie's all time to very QX was similar the

of couple what we to our have quarters, first is again And And so the than mentioned ship. the quarter, during is growth order even we of more we magnitude -- first can surprise. the we

And much so of is second us conditions very to unsettled. not the now this it's -- we're year's half going macro to not

will prepare And are to good. so still change -- quickly. we orders but And very overall

Bernie Blegen

one have management. last that we we've year, risk, And just the issue of comment beginning that capacity. supply there thing about Michael's still that lowered chain in is And follow-up is an but on to ongoing the that's did concerns requiring

Quinn Bolton

term, there might that by or you're but applications really the a name the longer you you're for activity highlight you are not the I'm strength then excited year design you're And Understood. about Xs. next able Tier of of going two? over us particularly surprised positively to to sure couple with be mentioned customers,

Michael Hsing

activity them clearly couple heavily with -- also the talk and volts one it And as automotive, about is we It's in as engaged centers of other XX in mentioned a in business. earlier and data we is the and of ADAS. a lot Bernie

Bernie Blegen

keep to that, in just that think lot the is we mind are small in of players. I And listed markets relatively that a Michael

drive the So of at for upside opportunities two years three next to greenfield should we to have continue a least. that lot growth our

Quinn Bolton

You bet.

Genevieve Cunningham

comes now Our your next from Joshua is from question line Cowen. Joshua, Buchalter open.

Joshua Buchalter

my taking with and for results. storage and congrats to wanted thanks day, question update. I begin computing Good on the

you was of driver of called on in to was there this such a else anything just going bit upside, growth. -- not of the allowed less the you. Could provide Or function it XQ a than to a size high server other on was some within granularity maybe out ones? the watermark? as Given surprised that sequential grow a I was that Thank market see

Michael Hsing

a ago. substantially a surprise year quarters. growth about from we And we in And it year not grow year. expected the Server is -- talk this to say from past Yes. from last us. we And growth will a

is there So surprises. no

and supply power a still our the remind so up is powering powering And CPUs I up using a product everybody, electronic devices and all as we're electronics it's server. the

Bernie Blegen

add prepared and in that color a enjoyed to I by that to step in QX the QX noteworthy QX. or level that, Yes. high between some we we and comments up saying QX maintain QX tried And think and we same

server look growth So the when largest year-over-year is at you one our year-over-year drivers. of

Genevieve Cunningham

Our is next line question your now open. comes from SunTrust. William William, from Stein

William Stein

Congrats versus Great, talk thanks these turns question. Bernie strong backlog on you for wondering taking I'm results. my can about to us if expectations. very

this where implies for I essentially think special what had maybe QX. situation for you regard we recollection that in negative of sort can clarify my confirm quarter last guided and net you guidance turns,

Bernie Blegen

I and that effect And to last closely referred toilet there that a outsized were understand in more customer-by-customer weeks so was after X. end March there we of that we to geography, QX had the drivers, out found four we the that the paper think well went to term pattern take couple the geography that of at to what we an and ordering QX represented. of was

was, a in The stepped applications. up was there increase demand first increase home particularly work it to that relates from as and

included acceleration wanted of not. that to and continued earlier said so ordering But sure was where the in customers that then an as strong storage I line automotive. demand and notebooks there distributors also make were And they and within and to get XG

backlog reliance had channel we with enter to we've of profile, much rise business to point, evaluation do that let order again last So a But a to over-enthusiasm. turns what as in don't that very meaning we we too no on low similar quarter there's make our quarter is had this close because at this sure meet inventories the expectations.

Michael Hsing

Yeah.

toilet growths and little, that growth effect we're the sustainable. -- the very so is and somewhat assumption, real into deeper right. our found And we these okay? customers, after very and paper distributors, Our wasn't quite our are There is diving

William Stein

it. got Okay,

for the you're not last sort and backlog real orders sounds as elevated quarter were were So it quarter of like a elevated well. a this trick, they seeing

the maybe side this the supply. So, of other -- of other course is

second saw my deliver. the more Bernie, quarter, that's question. the about We the supply so able that how was -- And in to through you quarter. was company talked certainly

new of supply about your capacity of from foundry you think ramped partners. sort another one at then having QX, increased a I for foundry that's maybe talked expectation of real-time existing one a doubling a in and at

runway. are maybe additional us and the earlier it up XX% I quarters? years for few you of sounded the clarify, you now. talked you think could was ramping together, clarify like about next Maybe Maybe that think just to two are we where fabs two capacity, capacity -- over where expect which I of sort suggests that you on you go can to call

Bernie Blegen

Yeah.

as pretty have responded you in the full to part credit, could I to our operations not far one were And early think most three in as to year. ahead an expected. And are this of as I'm or the I I numbers because are confirm you're give close capabilities test next that, it for certainly look the the significant. expansion And think capacity prospects the growth we ballpark. think issue that five put going to remains cited to the reject well that them of that, our mark. years as we as the

then do is distributed. get geographically a so And to trying get but both also we're capacity what

investment, ahead of for as level next continuing here few years. the a require to going that's So, we look

William Stein

you. Thank

Genevieve Cunningham

is line next open. from James. question Chris, The Raymond your from now is Chris Caso

Chris Caso

Good well. working on pioneering call very congratulations which conference Yes. evening. Thank you. the format, And seems

we the under from good actually right you're to for other next that capacity just that growth quarters upside it be could feared. paper -- we capacity situation to putting few in is now some having with constraints next the follow-on the toilet sufficient as through place? go you're foresee we're that And as revenue effect these the my guess, there appears do effect headroom a a those is and few seeing right I now, So plans the the and quarters over you we an not capacity revenue? where Is question. we're impediment seeing first question still constraints from are respect where

Michael Hsing

Yeah.

way, Let's we And at I than we they're more we put working can can are capacities that And as ship. six over last more order mean, production and months, the revenue that can we now. ship. much better issues people in our increase than have XXX%. we still the the

Bernie Blegen

having likely so internal don't more I And increase the also our would also inventories, necessarily just from production we're experience recent that, this we to have in moment rely excellence. upon probably learned to

Chris Caso

Great.

market which there's some guess cloud There data to the of is center market they'll with are follow-up, a compute compute the it be into what increase itself of well. some of of you the second lot which talked from market? secondly, segment, the half. the what's to others for we've about of in as guess, In should the that content happening know forward the one, was you're home a question areas maybe a go pulled some showing like -- you And is, as example, they is have regard that first As that centers from if greater I notebooks, decline number the of I the look some like -- it demand. had heard slow, the increases, extent quarters. than slowing looks revenue, I your was content market half. And work some the data seeing? after strong Intel

Michael Hsing

players. new the are We

percentage bigger We segment. your see any are better. for the a we we question And player much answer see don't Okay? -- And our we then growth slowdown. don't we revenue can in a relatively market become small as

Chris Caso

you. Thank

Genevieve Cunningham

the from Seymore Ross now Capital. line comes David from question. This from comes Loop is open. We'll move from Deutsche David, your now open. next Ross, to question is Bank. your line next Our Williams

Melissa Weathers

Hi, a I and strong on for is on Thank was quarter. for us the market question guys. This hoping specifically. Ross. really your letting get Melissa a you opinion on congratulations automotive ask end to

the Your factory larger shutdowns impacted around the were by also peers world.

half, help As can the second how auto you're than do out, understand recovery know the recovering? in see don't one business more will sales resume? you how thinking into you about I but quarter guide you And us this

Bernie Blegen

Yes.

to shut the OEMs think continue see a restabilization manufacturing in of I for buy down QX two that going to even was though months, Interestingly, we're cars. the people to market. the still three

they to growth ramp out But be that meet. they the being there not see think pent-up But in to is that won't start past the don't year. roll that model new additional demand to it need stair-step some I'm snap some I experienced -- expecting QX, we've years. So see as improvement in the may it back, I necessarily

Genevieve Cunningham

David will Loop question from Williams next Our open. David, Capital. come is line now from your

David Williams

and you. that guess on Thank from year. thanks could if And ask congrats the then around the maybe letting console. quarter. question Perfect. gaming is into first color in the and a me remainder benefit around the layers the the really any you how the question console for of gaming maybe quarter I provide And the

Bernie Blegen

console I somewhat in beginning five a occurs a months -- very think as October. there's business, a and far curve June bell-shaped the ending as in almost that that gaming is predictable over

September. word our will So And before, the seem very probably the Though, towards now, not is to we that be right crisp, heavily early late QX we August pretty we is against or used visibility right what now until sell expectations. for well tracking weighted be into.

David Williams

Okay.

characterize to expectations? towards you'd stable your that as maybe So

Bernie Blegen

to that bubble create consoles, has of meeting But, have we challenges. expectations yes, Yes. and management I not chain demand the this handle would Stable gaming word I assigned is say, because own adequate certain normally does our which supply it it. to its a is

David Williams

but is here? this ahead Great. of player, any you this much that maybe pandemic related? of data about think think do smaller more not? and you is the natural this maybe you And through think seeing pull would have all versus a or center do you're from demand Do think you're pull then Or is thinking ahead realize maybe you the come do I computing, how sustainable? maybe cycle

Bernie Blegen

No.

I level, sort at more is is able think I to a that is front-end visibility really do now. sort from response. cycle the accelerated this only loaded earlier is add thing opportunity work as are of think and and real we're of we home small again it. really it And to for our offered phenomena and some we an the low quantify to our a that little revenue a first right growth, such bit experience predictability is us player But

David Williams

so much. Thank Great. you

Genevieve Cunningham

is Our comes Oppenheimer. Schafer open. Rick line question now your from from Rick, next

Rick Schafer

guess you. yet. Thank XG job, question now talked on first my or Nice guys. about I we've ask

Difficulty] you on has Difficulty] be customer if been [Technical know with entry [Technical if know do some you you the trend there. [Technical you a maybe I here would I sort can of Or government talk the about And I progress then you give could just I know things and that into how then the didn't follow-up. have now? So a uncertainty. -- don't XG there's shipping largest I been are know Difficulty] how many

Michael Hsing

Rick, highly is your and you we one audible any customers. were barely very XG interpretable. to your of try We the our that it biggest revenues. as -- and we concentrated And and opportunities barely don't try not the XG okay biggest answer questions. know, can And is have in question

now grow China players Okay, very our technologies. little is that's And Huawei where significant regions? player and far is and emphasize Clearly, now. the there and as a we in biggest which revenues. became to the it because And as

we may in time. longer keep the familiar with But slower. growing us So a with actually XG give the MPS. The and time network. the MPS is time longer players with And times and for to technologies. will familiar it it but MPS all I and but And what the And other it matter better our engage affect side, believe the China, actually the is in the the be on see And it's impact for had much is revenues. a deeply. all the other them our they're regions future say I of business? have we

Genevieve Cunningham

Our Blair. Kamil from now line next question comes from is William your Kamil, Mielczarek open.

Kamil Mielczarek

Good my evening. question. Thanks for taking

follow-up on base the SAM data Can stations, how and have your fiber be potential products networks I given used for centers. back-end is And you well? a XG. you on just want QSMOD to think I about the and can some POL optic provide transceivers, specifically as First detail content there's potential assume in to

Michael Hsing

Yes.

You're absolutely, right.

opportunity supplying we fundamental a it's have $XX, Our $XX there again powers very us management don't per because rough product a in picture doing power than clear and our And it's really is more a for calculation each stations. component.

Kamil Mielczarek

you. And this should applications. great. is communication quick your medical That's a XXXX you differentiation competitors believe initially market? entrance HPA we a into How Thank follow-up. event? your and TI? targeting And are just lastly like revenue think versus about And what's I the

Bernie Blegen

able they've and ADI The provided advanced And their customer the you're is with us initial to a and by would and have is of prototyped have product actually that. primary this a that spec first this be really competition pursuing can we're end exactly with is be and we analog. the the year to after that opportunity that correct revenue expect

targeted as far that the we about it As analog. talked road market is longer-term high-performance the because communications map, were next

Michael Hsing

part the of the converters. Data I missed first question.

Okay. Go ahead.

Bernie Blegen

Yes.

course But I over said five high up here again, there. it out to very move we we're precision. high-frequency finishing only for and very And or the where players well two of believe, to the difficult just So other as into penetrate. there's It's years. market positioned next to three one need the a

Genevieve Cunningham

from question next Tore Tore, Our Stifel. from open. your is now comes line Svanberg

Tore Svanberg

Yes.

for follow-up. ADI, and been Linear, the all or competitors look to asking you Maxim, And years, view you one power question do They're under that your a engineers. means for whether business analog going Michael, for Just if think specifically? for and space now What I'm Monolithic because they've perhaps this really yours at for of umbrella. I respect be many

Michael Hsing

they companies me. the Linear Well, them think, proven are thanks bit and technology in agile the it's -- you in competes with and I development. a very and past Technologies they MPS for the and terms and Maxim competed product saying the as respect development has Yes, of and same little

So our futures you I going Linear now if -- to has is very meaningful the $X.X with to it. MPS at our players. And look we And close billion think and is growth the are MPS Technologies faster. become

the were multiple And more looking second technologies will I a opportunities. for give And superior customers so our us think with that of suppliers.

Tore Svanberg

again. Very good. Congrats

Michael Hsing

Thank you. Yes.

Genevieve Cunningham

Garrigan Our Rosenblatt. comes your line now Kevin from from next question is Kevin, open.

Kevin Garrigan

Guys, thanks my question quarter. taking on for congrats great a and

agreement Farnell a Can Just me. in for I little can e-commerce on about your virtual a of color one quick kind now going there? kind talk everything on know your give us business? with you recent what's with Electronics, you of

Michael Hsing

Yes.

follow small still evolving. if see initial results. subscribers. And very okay. say do a point Okay. up really we start have And how website We That's change know after I keep double and we the it's remember it's some you or now tripled And e-commerce to and but than And slow with actually glad more numbers. the our our website you that to small triple that. -- okay, I that. believe believe that I firmly

And with work will see hope will to is we're online I and our And now lot a I and of surveys. much partners more the will distribute we can think enough good doing that so in the website message few online clearly. And partners distribution, next it more still believe and configurations more -- -- a plug I and that still result. and believe sales, happen play online much we overall, the solution, it. online the in we'll it future. see And be we see lot months But and

component. dollar now, instead each dollar, $X opportunities of selling for or beyond sub for against parts, we're so, And MPS $X,

still the So, and opportunities still remain are learning. we

Kevin Garrigan

it. guys. Got Thanks

Genevieve Cunningham

Bolton open. Our from Quinn, Needham. is your next Quinn line question comes from now

Quinn Bolton

management the we forward about sense power great. into question. data you Intel devices excited for you much able the Thanks generation going versus wondering to as either new of center XX-volt as Thank that for volts, couple XX follow said longer of XXX a XX or a or XX-volt? as XX-volt the letting supplying you're in market data that X-nanometer have then if most me of SKU? well questions. the And how latest Hey With might center just term, to so GPU any you're spec, do applications Michael, look you. comment the whether GPUs XX-volt center, you're new NVIDIA's VR around follow-on ask a be some of

Michael Hsing

All right.

don't And spec, in product opportunity a and be next And XX-volt also significant we via have it. have a in And way, the that mention VR I project compared we in few XX main And terms player all names. XX customers' that small the for let's Okay. MPS became reference of it it. design Obviously, a will part in the of a years. customers' put product and as we're so, VR names the that. MPS. XXs the think, play in And a we

Bernie Blegen

Both XX-volt. as in the XX-volt as well

Michael Hsing

XX volts the XX belief the for XX is XX still And Yes, application my volts, mostly is volts, and volts. still limited.

Quinn Bolton

for you Thank Great. that color.

Genevieve Cunningham

the over [Operator questions, would to back like Instructions] are turn to Bernie. now further As there I no webinar

Bernie Blegen

you be forward our at a webinar, third the thank like likely us you joining for October. and you look webinar. great all for to talking day. quarter to this I'd to of Great. And which during end Thank will have again

Monolithic Power Systems (MPWR) 28 Jul 202020 Q2 Earnings call transcript