MPS earnings date
MPS's next results are expected on October 29, 2026. Watch demand and margins against guidance.
What has MPS guided for 2026?
In Q2 2026, Enterprise Data revenue was $380.6 million, or 38.8% of company revenue, up 164.3% from a year earlier. Management therefore raised its minimum Enterprise Data growth target for 2026 to 130%, citing customer ramps, platform refreshes, and more module content.
The near-term test is Q3 2026 guidance for revenue of $1,140 million to $1,160 million and GAAP gross margin of 55.2% to 55.8%. Gross margin is the share of sales left after making the products. If costs rise faster than sales, earnings per share may not match the revenue growth.
| Period guided | Low | High | Date given | |
|---|---|---|---|---|
| Revenue | Quarter to Sep 2026 | 1,140 | 1,160 | July 30, 2026 |
| GAAP gross margin | Quarter to Sep 2026 | 55.2% | 55.8% | July 30, 2026 |
| Non-GAAP gross margin | Quarter to Sep 2026 | 55.4% | 56.0% | July 30, 2026 |
| GAAP operating expenses | Quarter to Sep 2026 | 252.7 | 258.7 | July 30, 2026 |
| Non-GAAP operating expenses | Quarter to Sep 2026 | 201.2 | 205.2 | July 30, 2026 |
| Non-GAAP tax rate | Year to Dec 2026 | 15.0% | 15.0% | July 30, 2026 |
What this means. The revenue number is a forecast for the quarter ending September 2026, not money the company has already earned.
How have MPS's revenue and profit changed?
| Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | 980,642 | 804,185 | 751,155 | 737,176 | 664,574 | 637,554 | 621,665 | 620,119 |
| Gross margin | 55.2% | 55.3% | 55.2% | 55.1% | 55.1% | 55.4% | 55.4% | 55.4% |
| Operating income | 303,894 | 241,152 | 199,936 | 195,183 | 164,758 | 168,759 | 163,307 | 164,028 |
| Net income | 257,298 | 193,226 | 171,656 | 179,766 | 135,009 | 135,052 | 1,254,721 | 144,430 |
| EPS, diluted | 5.22 | 3.92 | 3.49 | 3.74 | 2.81 | 2.81 | 25.87 | 2.95 |
| = Free cash flow | 145,483 | 179,404 | 63,897 | 196,753 | 189,494 | 216,045 | 102,879 | 197,885 |
What this means. The large profit in December 2024 was mostly a one-time tax benefit, not money made from normal business operations.
What should I watch in MPS's next results?
A material weakness is a serious failure in the internal checking process that could allow a major accounting error to go undetected. It does not prove that cash is missing or that every reported figure is wrong, but it reduces confidence in the process producing the figures. As of June 30, 2026, MPS said the tax-related weakness had not been remediated and that disclosure controls were not effective. Management expected remediation by the end of 2026.
The October 29 report will test demand and margins. The Singapore ramp expected in early 2027 will test whether MPS can execute its supply expansion.