Power Integrations
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Power Integrations (POWI) investor relations material

Power Integrations Q4 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q4 2025 earnings summary5 Feb, 2026

Executive summary

  • Full-year revenue grew 6% to $443.5 million, with Q4 revenue at $103.2 million and non-GAAP EPS of $0.23; non-GAAP EPS rose 8% year-over-year.

  • Cash flow from operations for the year was $112 million, up $30 million from the prior year.

  • A restructuring reduced the global workforce by 7% to align expenses with revenue, with a $3.5–$4.0 million restructuring charge expected in Q1 2026.

  • Bookings improved significantly in Q4, especially in industrial and consumer segments.

  • Non-GAAP net income for 2025 was $70.7 million ($1.25 per share), up from $66.2 million ($1.16 per share) in 2024.

Financial highlights

  • Q4 revenue was $103.2 million, down 13% sequentially; full-year revenue up 6% year-over-year.

  • Q4 non-GAAP net income was $12.7 million ($0.23 per share); Q4 GAAP net income was $13.3 million ($0.24 per share).

  • Non-GAAP gross margin for Q4 was 53.3%; full-year non-GAAP gross margin was 55.1%, up 70 bps.

  • Free cash flow for the year was $87.1 million.

  • Returned $145 million to shareholders via buybacks and dividends, 167% of free cash flow.

Outlook and guidance

  • Q1 2026 revenue expected between $104 million and $109 million.

  • Q1 non-GAAP gross margin projected at 53%-54%; GAAP gross margin at 52–53%.

  • Q1 non-GAAP OpEx expected at $46 million ± $500,000; GAAP OpEx at $54–$55.5 million; restructuring charge of $3.5–$4.0 million expected.

  • Effective tax rate for 2026 expected to be 7%-8%.

  • Planning for similar year-over-year growth in 2026, with cautious investment until bookings materialize.

How does restructuring enable AI/electrification growth?
What is the revenue contribution of PowiGaN products?
How will free cash flow be allocated in 2026?
OpEx reduction target for 2026
Automotive revenue: low tens of millions timeline?
Data center strategy beyond aux power
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Frequently asked questions

Power Integrations is a semiconductor company that designs high-voltage analog integrated circuits for energy-efficient power conversion. Our patented products enable compact, energy-efficient power supplies in a wide range of electronic products, in AC-DC, DC-DC and LED lighting applications. Power Integrations' innovative technology increases efficiency in an extensive range of electronic appliances and equipment—from computers, cell phones and LCD flatscreen televisions to air conditioners and electric vehicles—thus reducing energy consumption, increasing reliability, and conserving natural resources. Power Integrations, Inc. was incorporated in 1988 and is headquartered in San Jose, California.

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