Power Integrations reported first-quarter 2026 revenue of $108.3 million, representing sequential growth of 5% and a 3% increase year-over-year, reflecting improving demand conditions across key industrial and energy markets.
GAAP net income for the quarter was $3.3 million, or $0.06 per diluted share, while non-GAAP net income reached $13.9 million, or $0.25 per diluted share. Operating cash flow remained solid at $20.0 million.
The company highlighted particularly strong momentum in its industrial segment, where revenue increased 23% year-over-year. Growth was driven by applications including renewable energy, battery storage, home automation, and automotive systems.
Strategically, Power Integrations emphasized increasing opportunities tied to electrification and AI infrastructure. The company noted that rising power requirements from EVs and AI data centers are accelerating demand for higher-efficiency power conversion technologies such as its PowiGaN™ platform, while also indirectly driving investment in renewable energy, energy storage, and DC transmission infrastructure.
Management indicated that R&D and long-term strategy are increasingly focused on these high-growth sectors, positioning the company to capitalize on structural trends in power efficiency and grid modernization.
For the second quarter of 2026, Power Integrations expects revenue between $115 million and $120 million, with non-GAAP operating margins projected in the range of 13.5% to 15.5%, signaling expectations for continued operational improvement.
From a market perspective, the results reflect improving industrial semiconductor demand following prior cyclical weakness, while reinforcing the growing importance of high-voltage power semiconductors in AI infrastructure, renewable energy systems, and electrification applications.
Original – Power Integrations