Power Integrations Q2 2026 reported revenue of $118.9 million ending June 30, 2026, marking a 10% increase from the previous quarter and a 3% rise from the same period last year.
GAAP net income came in at $9.8 million, or $0.17 per diluted share, compared with $0.06 per diluted share in the first quarter and $0.02 per diluted share in the second quarter of 2025. The company generated $22 million in cash from operations during the quarter.
On a non-GAAP basis, net income was $20.9 million, or $0.37 per diluted share. That compares with $0.25 per diluted share in the previous quarter and $0.35 per diluted share a year earlier.
The company’s non-GAAP figures exclude stock-based compensation, amortisation of acquisition-related intangible assets, an accrual linked to a legal judgment, a restructuring charge recorded in the first quarter of 2026, and the tax effects of these items.
A reconciliation of GAAP and non-GAAP results and guidance is included in the financial tables accompanying the release.
Strong industrial demand
“We delivered strong second-quarter results, highlighted by continued growth in industrial markets, improved profitability, and lower inventories in the distribution channel and on our balance sheet,” said Jen Lloyd, CEO of Power Integrations.
She added that ongoing investment in renewable energy, grid infrastructure, and AI data centres is driving demand for greater efficiency, reliability, and power density.
Lloyd also pointed to the company’s new 2200 V PowiGaN™ technology, saying it expands Power Integrations’ high-voltage gallium nitride capabilities and positions the company to support customers in these markets over the long term.
Dividend announced
Power Integrations paid a quarterly dividend of $0.215 per share on June 30 to shareholders of record as of May 29.
The company will pay another dividend of $0.215 per share on September 30, 2026, to shareholders of record as of August 31.
Third-quarter outlook
For the third quarter of 2026, Power Integrations expects:
- Revenue between $122 million and $130 million.
- GAAP gross margin between 53.3% and 54.4%.
- Non-GAAP gross margin between 54% and 55%.
- GAAP operating expenses between $55 million and $56 million.
- Non-GAAP operating expenses between $45 million and $46 million.
- GAAP operating margin between 8.3% and 10.9%.
- Non-GAAP operating margin between 17% and 19%.
Power Integrations Q2 2026 outlook is broadly consistent with the company’s reported guidance for the quarter.
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