Quarterly ResultMay 7, 2026, 04:16 PM
Power Integrations Q1 Revenue $108.3M; Appoints Mike Balow SVP Sales
AI Summary
Power Integrations reported first-quarter 2026 net revenue of $108.3 million, a 3% increase year-over-year, with industrial revenue growing 23%. GAAP net income significantly decreased to $3.3 million ($0.06 diluted EPS) from $8.79 million ($0.15 diluted EPS) in Q1 2025, while non-GAAP net income also declined. Concurrently, the company appointed Mike Balow as Senior Vice President, Worldwide Sales, effective May 4, 2026, bringing over three decades of semiconductor sales experience. The company forecasts Q2 2026 revenue between $115 million and $120 million.
Key Highlights
- Mike Balow appointed Senior VP, Worldwide Sales, effective May 4, 2026.
- Q1 2026 net revenue was $108.3 million, up 3% year-over-year.
- Q1 2026 GAAP net income was $3.3 million ($0.06 diluted EPS).
- Q1 2026 non-GAAP net income was $13.9 million ($0.25 diluted EPS).
- Cash flow from operations for Q1 2026 was $20.0 million.
- Industrial revenue grew 23% year-over-year in Q1 2026.
- Q2 2026 revenue is forecast to be $115 million to $120 million.
- Mr. Balow's compensation includes $450K base salary, $2.4M RSUs, $1.6M PRSUs.