Power Integrations, Inc. reported a net revenue of $118.9 million for the second quarter of 2026, reflecting a 2% increase from $115.9 million in the same period of 2025. For the first half of 2026, the company achieved revenues of $227.2 million, up from $221.4 million year-over-year. The growth in revenue was primarily driven by increased sales in the industrial end market. The company’s gross profit for the second quarter was $64.6 million, resulting in a gross margin of 54.3%, slightly down from 55.2% in the prior year, attributed to a less favorable product mix and increased costs related to wafer procurement.
In terms of profitability, Power Integrations reported a net income of $9.8 million for the second quarter of 2026, a significant increase from $1.4 million in the same quarter of 2025. For the first half of 2026, net income reached $13.1 million, compared to $10.2 million in the previous year. The company’s operating expenses decreased to $55.7 million in the second quarter from $65.3 million in the same period last year, largely due to a non-recurring expense related to an employee litigation matter in the prior year. The reduction in operating expenses was partially offset by restructuring charges associated with a workforce reduction aimed at aligning expenses with revenue.
Power Integrations has undertaken a restructuring plan that resulted in a 7% reduction in its workforce, aimed at enhancing operational efficiency and reallocating resources towards growth opportunities. The restructuring incurred charges of $6.6 million in the first quarter of 2026. The company continues to focus on its capital return program, having returned $11.9 million to shareholders through dividends in the second quarter of 2026, maintaining a quarterly dividend of $0.215 per share.
The company’s customer concentration remains high, with its top ten customers accounting for approximately 82% of net revenue in the second quarter of 2026. International sales constituted about 98% of total revenue, with significant contributions from the Asia-Pacific region. Power Integrations continues to monitor market conditions and potential impacts from global trade policies, including tariffs, which could affect demand for its products.
Looking ahead, Power Integrations anticipates continued growth driven by demand in the industrial sector and ongoing investments in product development. However, the company acknowledges potential risks, including fluctuations in customer demand, competitive pressures, and supply chain challenges. The management remains committed to enhancing operational efficiency and delivering shareholder value through strategic initiatives and capital returns.
About POWER INTEGRATIONS INC
Power Integrations, Inc. designs and markets high-voltage analog and mixed-signal integrated circuits for power conversion. Its products enable efficient AC-DC power supplies, LED drivers, motor controllers, and gate drivers across consumer, industrial, and automotive markets. The company focuses on energy-efficient solutions, system-level integration, and expanding addressable markets through innovative technologies like GaN transistors, serving OEMs and distributors worldwide.
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