As of Q4'25, MPWR reported revenue of USD 751.2M, marking the highest level in the period covered. Year-over-year revenue growth for this quarter reached 20.8%, indicating continued strong momentum into the end of 2025. From Q1'23 to Q4'25, MPWR’s revenue trend shows a steady upward trajectory, with a notable acceleration starting in Q2'24. After a period of modest growth and slight declines in 2023, revenue began to rise sharply from Q2'24 onward, with YoY growth peaking at 39.2% in Q1'25. This period of robust expansion suggests a significant improvement in business performance, supported by both sustained revenue increases and accelerating growth rates in the latter quarters.