Short answer
POWER INTEGRATIONS INC (POWI) filed its fiscal 2025 10-K annual report with the SEC on Feb 6, 2026. It reported revenue of $444M (+5.9% year over year) and net income of $22M.
- Top risk flagged: Regulatory risk: Impact of the One Big Beautiful Bill Act (OBBBA) raising foreign earnings tax rate from 10.5% to 12.6%, effective fiscal 2026
FY2025 key financial metrics · XBRL
- Revenue
- $444M
- +5.9% YoY
- Net income
- $22M
- −31.5% YoY
- Operating margin
- 2.3%
- −2.0 pp YoY
- Gross margin
- 54.5%
- +0.8 pp YoY
- EPS (diluted)
- $0.39
- −30.4% YoY
- ROE
- 3.3%
- −1.0 pp YoY
- Operating cash flow
- $112M
- +37.4% YoY
Source: XBRL data from the POWER INTEGRATIONS INC (POWI) FY2025 10-K on SEC EDGAR. USD.
POWER INTEGRATIONS INC FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business: Design and sale of analog and mixed-signal ICs for high-voltage power conversion in power supplies, motor drivers, and gate drivers
- New emphasis on GaN transistor technology with acquisition of Odyssey Semiconductor in July 2024 to accelerate higher-power GaN device development
- Strategic shift toward automotive-qualified products for EV power supplies and expansion of addressable market to approx. $5 billion including EV and LED lighting
- InnoMux-2 product family introduced in 2024 with 1700-volt GaN transistors, extending power output and efficiency capabilities
- R&D focus on system-level integration and enhanced design-support tools like Motor-Xpert and PI Expert software to reduce customer design complexity
Management Discussion & Analysis
- No cash flow, capital allocation, buybacks, dividends, or capex information present
- No management outlook, guidance, or emerging risks discussed
- Provided content focuses on stock performance comparison only, not financial results
Risk Factors
- Regulatory risk: Impact of the One Big Beautiful Bill Act (OBBBA) raising foreign earnings tax rate from 10.5% to 12.6%, effective fiscal 2026
- Geopolitical risk: Exposure to Asia region with 84% of net revenue sales concentrated there amidst China-Taiwan and China-Western tensions
- Operational risk: Dependence on wafer supply from Japanese foundries; 10% USD/JPY change affects gross margin by ~1.5%
- Competitive risk: Intense price sensitivity in industry may pressure gross margin amid competition from other analog and mixed-signal IC suppliers
- Financial risk: Customer concentration with top 10 customers accounting for ~81% of net revenue in 2025
Generated from the filing text; verify against the original. How to read a 10-K
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