Kelsey Chia's questions to Monolithic Power Systems Inc (MPWR) leadership • Q2 2025
Question
Kelsey Chia asked if the ramp of new ASIC platforms would lead to a return to a more diversified customer base with no single customer over 5% of sales. She also questioned if a growth rate near 20% for 2026 was a reasonable assumption based on market recovery and MPS's outperformance targets.
Answer
EVP & CFO Bernie Blegen confirmed that the recent high customer concentration was an 'aberration' and he expects a return to a more normal, diversified customer profile. Regarding 2026 growth, Blegen agreed that the analyst's assumptions were accurate within a few percentage points, with enterprise data expected to be a key contributor to that growth.