Power Integrations (POWI) Q3 FY2026 earnings: revenue $125 million, up 5.5% on the year

Power Integrations Inc. (POWI) reported revenue of $125 million for Q3 FY2026, the quarter ended 30 September 2026, up 5.5% on the same quarter a year earlier. Net income was $18 million, and diluted earnings per share $0.32. The figures are the company's own, from the 10-Q it filed with the SEC on 5 November 2026.

Revenue

$125 million

+5.5% on the year · +5.5% on the quarter

Q4 FY2024Q3 FY2026

Operating margin

15.2%

-3.3% a year earlier

Q4 FY2024Q3 FY2026

Net income

$18 million

+86.3% on the quarter

Q4 FY2024Q3 FY2026

Diluted EPS

$0.32

+88.2% on the quarter

Q4 FY2024Q3 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 1 raised, 8 new.

Revenue rose five percent sequentially: Revenue was $125.5 million, up from $118.9 million in the second quarter and up six percent from the third quarter of 2025.
Non-GAAP diluted EPS rose to $0.46: Non-GAAP net income was $26.1 million, against $0.37 per diluted share in the second quarter and $0.36 a year earlier.
PowiGaN products drove revenue growth: The company said the sequential increase came from PowiGaN products and continued strength in the industrial market.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Revenue	125	119	119	+5.5%	+5.5%
Cost of revenue	55.8	54.3	54.1	+2.7%	+3.1%
Gross profit	69.7	64.6	64.9	+7.9%	+7.5%
Gross margin	55.6%	54.3%	54.5%
Research and development	25.1	27.2	26.7	-7.6%	-6.0%
Selling, general and administrative	27.5	28.1	27.8	-1.9%	-1.1%
Operating income	19.1	8.9	-4.0	+114.9%
Operating margin	15.2%	7.5%	-3.3%
Pre-tax income	21.2	11.2	-1.4	+88.7%
Income tax	2.9	1.4	-0.0	+106.1%
Effective tax rate	13.6%	12.5%	n/a
Net income	18.3	9.8	-1.4	+86.3%
Net margin	14.6%	8.3%	-1.1%
Diluted EPS	$0.32	$0.17	-$0.02	+88.2%

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Operating cash flow	42.6	22.0	29.9	+93.7%	+42.6%
Capital expenditure	6.1	4.3	5.7	+41.1%	+6.6%
Free cash flow	36.5	17.7	24.2	+106.5%	+51.1%
Free cash flow margin	29.1%	14.9%	20.3%
Cash from investing	-6.7	-2.9	3.5
Cash from financing	-9.6	-11.9	-51.7
Depreciation and amortisation	6.3	6.4	6.8	-1.0%	-6.0%
Share-based compensation	9.4	11.3	21.2	-16.8%	-55.8%
Buybacks	0.0	0.0	42.4
Dividends paid	12.0	11.9	11.8	+1.0%	+1.9%
Dividend per share	$0.21	$0.21	$0.21	0.0%	+2.4%
Diluted shares, weighted	57m	57m	56m	-0.2%	+1.5%
Shares outstanding at period end	56m	56m	55m	+0.2%	+1.0%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Shareholders' equity	697	681	672	+2.5%	+3.8%
Debt	0.0	0.0	0.0
Other liabilities	92.1	98.5	101	-6.4%	-8.4%
Total liabilities and equity	789	779	773	+1.3%	+2.2%
Fixed assets	140	142	148	-1.5%	-5.4%
Goodwill	95.3	95.3	95.3	0.0%	0.0%
Intangible assets	6.7	6.9	7.5	-2.4%	-9.7%
Investments	191	192	193	-0.4%	-1.0%
Cash and equivalents	96.8	70.6	48.6	+37.1%	+99.1%
Receivables	27.9	26.8	31.5	+4.3%	-11.4%
Inventory	150	158	165	-4.8%	-8.7%
Other assets	81.1	87.5	83.9	-7.3%	-3.3%
Total assets	789	779	773	+1.3%	+2.2%

Questions

What was Power Integrations' revenue in Q3 FY2026?

Power Integrations (POWI) reported revenue of $125 million for Q3 FY2026, the quarter ended 30 September 2026, up 5.5% on the same quarter a year earlier.

How much did Power Integrations earn in Q3 FY2026?

Net income for Q3 FY2026 was $18 million, and diluted earnings per share $0.32.

When did Power Integrations report Q3 FY2026 results?

Power Integrations filed its 10-Q for the quarter ended 30 September 2026 with the SEC on 5 November 2026.

Quarterly results, the last 20 quarters

	Q4 FY2021 *	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	173	182	184	160	125	106	123	126	89.5	91.7	106	116	105	106	116	119	103	108	119	125
Cost of revenue	79.5	81.5	77.1	68.2	57.4	52.3	60.4	59.6	43.3	43.9	49.7	52.7	48.0	47.3	51.9	54.1	48.6	51.4	54.3	55.8
Gross profit	93.2	101	107	92.0	67.4	54.0	62.8	65.9	46.2	47.8	56.5	63.2	57.3	58.2	64.0	64.9	54.6	56.9	64.6	69.7
Gross margin	54%	55%	58%	57%	54%	51%	51%	53%	52%	52%	53%	55%	54%	55%	55%	55%	53%	53%	54%	56%
R&D	22.0	23.7	23.5	23.2	23.5	24.0	24.5	24.1	23.5	23.2	26.0	25.8	25.7	24.1	26.0	26.7	24.3	26.3	27.2	25.1
SG&A	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	27.4	30.2	27.8	n/a	24.4	28.1	27.5
Operating income	44.3	51.0	60.1	48.4	20.9	5.8	12.6	17.7	-1.1	0.5	2.0	11.6	3.9	6.7	-1.3	-4.0	8.8	1.5	8.9	19.1
Operating margin	26%	28%	33%	30%	17%	5%	10%	14%	-1%	1%	2%	10%	4%	6%	-1%	-3%	9%	1%	7%	15%
Pre-tax income	44.4	51.6	60.8	49.4	21.7	7.5	15.4	20.9	2.2	4.0	5.1	14.3	7.3	9.9	1.3	-1.4	11.1	3.9	11.2	21.2
Tax rate	8%	10%	8%	7%	-5%	8%	4%	5%	-540%	0%	6%	0%	-25%	11%	-2%	n/a	-19%	16%	12%	14%
Net income	40.7	46.2	55.8	46.0	22.8	6.9	14.8	19.8	14.3	4.0	4.8	14.3	9.1	8.8	1.4	-1.4	13.3	3.3	9.8	18.3
Net margin	24%	25%	30%	29%	18%	6%	12%	16%	16%	4%	5%	12%	9%	8%	1%	-1%	13%	3%	8%	15%
Diluted EPS	$0.65	$0.77	$0.96	$0.80	$0.40	$0.12	$0.26	$0.34	$0.25	$0.07	$0.09	$0.25	$0.16	$0.15	$0.02	-$0.02	$0.24	$0.06	$0.17	$0.32
Operating cash flow	47.2	74.6	66.8	49.8	24.1	16.6	6.2	26.7	16.3	15.9	17.6	32.9	14.7	26.4	29.1	29.9	26.2	20.0	22.0	42.6
Capital expenditure	17.0	14.7	13.2	5.5	5.8	4.1	3.1	7.5	6.1	4.3	4.2	5.7	3.0	5.7	5.9	5.7	7.0	2.0	4.3	6.1
Free cash flow	30.2	59.9	53.6	44.3	18.3	12.5	3.1	19.2	10.1	11.6	13.5	27.2	11.7	20.7	23.1	24.2	19.2	18.0	17.7	36.5
Buybacks	37.8	135	158	0.0	18.7	1.7	4.3	1.8	47.4	14.6	11.3	0.0	1.9	23.1	32.6	42.4	0.0	0.0	0.0	0.0
Dividends paid	9.0	10.7	10.3	10.3	10.3	10.9	10.9	10.9	11.3	11.4	11.4	11.4	11.9	12.0	11.8	11.8	11.6	11.9	11.9	12.0
Shares outstanding	60m	59m	57m	57m	57m	57m	57m	57m	57m	57m	57m	57m	57m	57m	56m	55m	55m	56m	56m	56m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 30 September 2026, filed 5 November 2026: the filing.