Short answer
Monolithic Power Systems (MPWR) filed an 8-K current report with the SEC on February 27, 2026 reporting Item 4.02 (Non-Reliance on Previously Issued Financial Statements). MPWR restating 2024 10-K and all 2025 quarterly filings due to deferred income tax error on foreign jurisdiction tax incentive.
- This filing includes Item 4.02, an item that often signal trouble.
Monolithic Power Systems 8-K event analysis
AI summary of each reported item and its exhibits
Item 4.02 · Non-Reliance on Previously Issued Financial Statements
- MPWR restating 2024 10-K and all 2025 quarterly filings due to deferred income tax error on foreign jurisdiction tax incentive
- 2024 GAAP net income reduced by $195M to $1.592B; diluted EPS drops from $36.59 to $32.60
- Error is non-cash only: revenue, non-GAAP gross margin, non-GAAP net income ($689.8M for 2024) all unchanged
- 2025 full-year net income actually increases by $5.6M to $621.5M; non-GAAP figures unaffected
- No misconduct involved; restatement incorporated directly into 2025 10-K filed immediately after this 8-K
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