Monolithic Power Systems is a fabless semiconductor company that designs high-performance analog and mixed-signal integrated circuits for power management and power conversion across computing, automotive, industrial, communications, and consumer applications. The company generates revenue by selling DC-to-DC converters, AC-to-DC converters, power management ICs, driver MOSFETs, and related components primarily through distributors and value-added resellers, serving end-market customers in data centers, automotive systems, cloud infrastructure, and consumer electronics. As a fabless manufacturer, MPS outsources chip production to foundries while maintaining proprietary design and process technologies that provide competitive advantages in integration, efficiency, and performance, earning gross margins on the intellectual property and design work underlying each product sold.