Monolithic Power Systems Announces Results for the Third Quarter Ended September 30, 2019


 
SUPPLEMENTAL FINANCIAL INFORMATION 
STOCK-BASED COMPENSATION EXPENSE
(Unaudited, in thousands)
 
  Three Months Ended
September 30,
  Nine Months Ended
September 30,
  2019  2018  2019  2018
Cost of revenue$641 $471 $1,834 $1,384
Research and development 4,960  3,979  14,801  12,168
Selling, general and administrative 15,699  10,393  43,384  32,213
Total stock-based compensation expense$21,300 $14,843 $60,019 $45,765
 


 
RECONCILIATION OF NET INCOME TO NON-GAAP NET INCOME
(Unaudited, in thousands, except per share amounts)
 
  Three Months Ended
September 30,
   Nine Months Ended
September 30,
 
  2019   2018   2019   2018 
Net income$29,528  $31,568  $76,402  $77,630 
Net income as a percentage of revenue 17.5%  19.7 %     16.6 %     18.1 %
                               
Adjustments to reconcile net income to non-GAAP net income:                              
Stock-based compensation expense   21,300       14,843       60,019       45,765  
Amortization of acquisition-related intangible assets   8       197       110       644  
Deferred compensation plan income   (61 )     (66 )     (46 )     (26 )
Tax effect   (1,254 )     800       (7,190 )     (1,746 )
Non-GAAP net income $ 49,521     $ 47,342     $ 129,295     $ 122,267  
Non-GAAP net income as a percentage of revenue   29.3 %     29.6 %     28.0 %     28.5 %
                               
Non-GAAP net income per share:                              
Basic $ 1.14     $ 1.12     $ 3.00     $ 2.90  
Diluted $ 1.08     $ 1.06     $ 2.84     $ 2.75  
                               
Shares used in the calculation of non-GAAP net income per share:                              
Basic   43,308       42,362       43,055       42,173  
Diluted   45,833       44,669       45,516       44,450  
                               

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