Monolithic Power Systems Announces Results for the Fourth Quarter and Year Ended December 31, 2022 and an Increase in Quarterly Cash Dividend
RECONCILIATION OF GROSS MARGIN TO NON-GAAP GROSS MARGIN
(Unaudited, in thousands)
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Three Months Ended December 31, | | |
Year Ended December 31, | |
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2022 | | |
2021 | | |
2022 | | |
2021 | |
| Gross profit | | $ | 267,809 | | | $ | 193,873 | | | $ | 1,048,552 | | | $ | 685,459 | |
| Gross margin | | | 58.2 | % | | | 57.6 | % | | | 58.4 | % | | | 56.8 | % |
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| Adjustments to reconcile gross profit to non-GAAP gross profit: | | | | | | | | | | | | | | | | |
| Stock-based compensation expense | | | 1,030 | | | | 921 | | | | 4,721 | | | | 3,543 | |
| Deferred compensation plan expense | | | 95 | | | | 156 | | | | 49 | | | | 256 | |
| Non-GAAP gross profit | | $ | 268,934 | | | $ | 194,950 | | | $ | 1,053,322 | | | $ | 689,258 | |
| Non-GAAP gross margin | | | 58.5 | % | | | 57.9 | % | | | 58.7 | % | | | 57.1 | % |
