POWER INTEGRATIONS INC

Listed Company

POWICIK 0000833640NasdaqLarge AcceleratedSemiconductors & Related DevicesCaliforniaFY ends Dec 31

Period

FY 2025

Revenue

$443.50M

Net Income

$22.09M

Total Assets

$772.21M

Equity

$672.85M

Shares Out

55.50M

Op. Cash Flow

$111.52M

Business

POWER INTEGRATIONS INC designs, develops and markets analog and mixed-signal integrated circuits and other electronic components for high-voltage power conversion. Its main products include AC-DC power-supply ICs (TOPSwitch, TinySwitch, LinkSwitch, InnoSwitch, InnoMux), high-voltage LED drivers, BridgeSwitch motor-driver ICs, and high-voltage gate drivers (SCALE families), as well as associated design software and services. The company’s business is organized around product families addressing AC-DC power conversion, gate-driver solutions and motor-drive applications. It sells to OEMs and merchant power-supply manufacturers worldwide through direct sales, independent representatives and a global distributor network.

Summary from filing dated 2025-02-07

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
NET REVENUE	444	419	445	651	703
COST OF REVENUE	202	194	216	284	343
GROSS PROFIT	242	225	229	367	361
Research and development	101	101	96	94	85
Sales and marketing	68	68	65	63	61
General and administrative	43	38	33	29	40
Other operating expenses	20	0	0	1	0
Total operating expenses	231	207	194	186	186
INCOME FROM OPERATIONS	10	18	35	180	175
OTHER INCOME	11	13	11	3	1
INCOME BEFORE INCOME TAXES	21	31	46	183	176
PROVISION (BENEFIT) FOR INCOME TAXES	−1	−1	−10	13	12
NET INCOME	22	32	56	171	164
Basic (in dollars per share)	0.39	0.57	0.97	2.96	2.73
Diluted (in dollars per share)	0.39	0.56	0.97	2.93	2.67
Basic (in shares)	56	57	57	58	60
Diluted (in shares)	56	57	58	58	61

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	59	51	64	105	158
Short-term marketable securities	191	249	248	248	372
Accounts receivable, net	18	27	15	21	41
Inventories	167	166	163	135	99
Prepaid expenses and other current assets	24	21	22	15	16
Total current assets	458	514	512	525	687
PROPERTY AND EQUIPMENT, net	147	150	164	177	180
INTANGIBLE ASSETS, net	7	8	4	7	9
GOODWILL	95	95	92	92	92
DEFERRED TAX ASSETS	36	36	28	19	16
OTHER ASSETS	29	25	19	21	31
Total assets	772	829	820	840	1,014
Accounts payable	34	30	26	30	44
Accrued payroll and related expenses	14	14	14	15	15
Taxes payable	962,000	961,000	1	938,000	1
Other accrued liabilities	22	11	8	13	12
Total current liabilities	70	55	49	58	72
LONG-TERM INCOME TAXES PAYABLE	4	4	6	16	15
OTHER LIABILITIES	25	20	13	11	15
Total liabilities	99	79	68	85	102
COMMITMENTS AND CONTINGENCIES (Notes 11, 12 and 14)	—	—	—	—	—
Common stock, $0.001 par value, Authorized - 140,000 shares, Outstanding - 55,339 and 56,837 shares in 2025 and 2024, respectively	20,000	22,000	23,000	24,000	28,000
Additional paid-in capital	0	19	0	0	162
Accumulated other comprehensive loss	−1	−3	−1	−7	−4
Retained earnings	674	734	754	763	753
Total stockholders' equity	673	750	752	755	912
Total liabilities and stockholders' equity	772	829	820	840	1,014

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation	27	33	35	35	32
Amortization of intangibles	800,000	1	2	2	4
Loss (gain) on disposal of property and equipment	−108,000	240,000	100,000	1	3
Stock-based compensation expense	40	35	29	22	38
Accretion of discount on marketable securities	−1	−2	−351,000	3	2
Deferred income taxes	898,000	−8	−9	−3	−13
Decrease in accounts receivable allowance for credit losses	−342,000	−245,000	−454,000	690,000	18,000
Accounts receivable	9	−12	7	20	−6
Inventories	−1	−2	−28	−36	4
Prepaid expenses and other assets	635,000	4	−1	7	4
Accounts payable	3	3	−5	−4	4
Taxes payable and accrued liabilities	11	−3	−18	−5	−4
Net cash provided by operating activities	112	81	66	215	231
Purchases of property and equipment	−24	−17	−21	−39	−47
Proceeds from sale of property and equipment	150,000	0	0	1	35,000
Purchases of marketable securities	−64	−106	−191	−56	−554
Proceeds from sales and maturities of marketable securities	125	107	198	172	368
Acquisition (Note 15)	0	−10	0	0	—
Net cash provided by (used in) investing activities	36	−26	−14	78	−233
Issuance of common stock under employee stock plans	5	6	6	6	8
Repurchase of common stock	−98	−28	−55	−311	−74
Payments of dividends to stockholders	−47	−46	−44	−42	−33
Proceeds from draw on line of credit	13	0	0	—	—
Payments on line of credit	−13	0	0	—	—
Net cash used in financing activities	−140	−68	−93	−346	−99
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	8	−13	−41	−53	−101
Unpaid property and equipment	3	3	3	1	11
Cash paid for income taxes, net	3	5	14	18	26

Filings

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