The company said its Audit Committee determined on February 26, 2026 that its previously issued financial statements for fiscal 2024 on Form 10-K and for each quarter of 2025 on Form 10-Q should no longer be relied upon, and that they will be restated.

1. 01

   The company said its Audit Committee determined on February 26, 2026 that its previously issued financial statements for fiscal 2024 on Form 10-K and for each quarter of 2025 on Form 10-Q should no longer be relied upon, and that they will be restated.

2. 02

   MPWR said the restatement reduced its full-year 2024 income tax benefit, net and deferred income taxes by $195 million. It said income tax benefit, net will be $1,019 million and net income will be $1,592 million after the restatement.

3. 03

   The company said income tax expense, net for the full year 2025 decreased by $5.5 million and net income increased by $5.5 million. In the table, it said, net income was restated from $615,927 thousand to $621,483 thousand.

4. 04

   The company said the error and adjustment are non-cash and do not affect key metrics such as revenue, non-GAAP gross margin, non-GAAP operating expenses and non-GAAP net income. It also described the error as an accounting mistake in deferred income taxes related to a foreign tax incentive.

Analysis scope · Filing bodyWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.