POWI reported top-line growth for the nine months ending September 30, 2025, with Net Revenues rising to $340.3M (from $313.7M), primarily driven by the industrial end-market. Gross Margin improved to 55%. However, net profitability deteriorated significantly, with 9M Net Income falling to $8.8M (from $23.1M PY). The most material impact was the Q3 swing to a Net Loss of ($1.4M) compared to a $14.3M profit last year.
The severe margin compression is largely attributable to a $13.6M stock-based compensation (SBC) charge booked in Q3 related to the modification of the former CEO’s eq
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