Power Integrations, Inc.

What the company does

Designs, develops and markets analog and mixed-signal integrated circuits (ICs) and other electronic components for high-voltage power conversion.
Focuses on system-level power-conversion solutions that integrate high-voltage transistors, drivers, control circuitry and isolation to enable AC-DC and high-voltage DC-DC converters with reduced component count, smaller size, higher reliability and faster time-to-market.
Product applications span consumer electronics, industrial and automotive sectors, including AC-DC power supplies (LED drivers), high-voltage gate drivers, and motor-driver ICs for BLDC motors.

AC-DC power conversion ICs
- Historic families: TOPSwitch, TinySwitch, LinkSwitch.
- InnoSwitch: integrated primary/secondary/feedback in one package with FluxLink control; GaN versions available since 2019.
- InnoMux: supports up to three DC outputs; InnoMux-2 introduced in 2024 with GaN transistors rated up to 1700 V.
- Automotive-qualified InnoSwitch variants for EV use.
High-voltage gate drivers
- SCALE and SCALE-iDriver families, including plug-and-play driver boards and driver cores.
- Automotive-qualified SCALE-iDriver introduced around 2020.
Motor-driver products
- BridgeSwitch family for BLDC motors (initially up to ~400 W; BridgeSwitch-2 extends to about 746 W / one horsepower as of 2024).
- Motor-Xpert software for configuration and diagnostics.
GaN technology
- PowiGaN GaN transistors introduced in 2019 to improve active-mode efficiency.
- Expansion to higher power and voltages, including GaN devices rated up to 1700 V; Odyssey Semiconductor assets acquired in July 2024 to accelerate higher-power GaN development.
Energy-efficiency features and support tooling
- EcoSmart standby/low-power technology; CapZero and SenZero for additional power savings.
- Design and support tools: PI Expert software, PowerPros live support, transformer-sample service.

Revenue mix by end-market:
- Industrial: 38%
- Consumer: 37%
- Computer: 13%
- Communications: 12%
Representative applications:
- Communications: mobile-phone chargers, broadband modems, Wi‑Fi routers, other network and telecom equipment.
- Computer: desktop PCs, monitors, servers, adapters for tablets/notebooks, peripherals.
- Consumer: major and small appliances, air conditioners, TVs/set-top boxes, video-game consoles.
- Industrial: industrial motor drives, renewable-energy systems, EVs and electric locomotives, HV DC transmission, controls, meters, UPS, LED lighting, battery-powered tools, smart-home devices.
Served available market (SAM) expanded to approximately $5 billion through new product lines and architectures.

Channel model:
- Direct sales to OEMs and merchant power-supply manufacturers: ~31% of net product revenue in 2025.
- Distributors: ~69% of net product revenue in 2025.
Customer concentration:
- Top ten customers (including distributors reselling to OEMs) accounted for about 81% of net revenue in 2025.
- In 2025, two customers (both distributors) each accounted for more than 10% of revenue.

Increase market penetration in existing markets (AC-DC up to ~500 W; gate drivers from ~100 kW to gigawatt-class applications; motor-drive up to ~1 hp).
Expand SAM through product families such as InnoSwitch, InnoMux and GaN-based devices and target new applications including EVs, smart meters, LED lighting and USB power devices.
Emphasize energy-efficiency innovations (EcoSmart, PowiGaN, BridgeSwitch) to meet regulatory requirements and customer needs.
Provide design documentation, tools and services (PI Expert, PowerPros) to support customer development cycles.

Fabless model: wafers produced by three foundries — Lapis Semiconductor Co., Ltd. (Japan); Seiko Epson Corporation (Japan); X-FAB Semiconductor Foundries AG (Germany/Europe).
Wafer supply agreements with capacity reservations and fixed-price arrangements subject to periodic review; rolling six-month forecasts required.
Packaging, assembly and test performed by independent subcontractors in China, Malaysia, Thailand and the Philippines; some testing at a company facility in California.
Gate-driver boards assembled and tested by subcontractors in Sri Lanka and Thailand; some testing in Switzerland.
Typical wafer shipment lead times: four to six weeks after order placement; new-product lead times can be longer. The company carries substantial wafer and finished-goods inventory to meet short-order lead times and variable customer requirements.
Acquired Odyssey Semiconductor assets in July 2024 to accelerate higher-power GaN development.

Patent portfolio: 281 U.S. patents and 329 foreign patents as of December 31, 2025.
U.S. patents expire between 2026 and 2046.
Trademarks registered in multiple jurisdictions; trade secrets include high-volume high-voltage production processes.
The company participates in patent litigation from time to time and faces ongoing risk of infringement claims and related costs.

Workforce: 877 full-time employees as of December 31, 2025.
- Geographic distribution: 339 in North America (39%), 421 in Asia-Pacific (61%), 117 in Europe.
- 6% of employees were foreign nationals requiring visas.
Talent and retention: emphasis on competitive compensation and comprehensive benefits; recognized by Great Place to Work in 2023–2025 (2025 score: 78% of employees say it’s a great place to work).
Leadership changes: CEO appointed July 2025; CFO change in January 2026.
Headquarters and locations: headquartered in San Jose, California; offices and facilities in New Jersey (R&D), Germany (design center), Switzerland (multipurpose building); leased offices in Singapore, UK, Philippines, New York and Malaysia; global sales offices.
Public disclosures: executive officer information reported as of January 30, 2026 (CEO Jennifer Lloyd; CFO Nancy Erba; VP Operations Sunny Gupta; VP Worldwide Sales Gagan Jain). Company files are available via its website and the SEC.

Operates in a cyclical, highly competitive power-supply IC market with substantial dependency on distributors and concentration of revenue among a small number of customers.
Differentiates on energy efficiency and high integration to reduce component count, size and heatsinking while shortening time to market.
Continues investment in GaN technology and higher-voltage, higher-power applications, including EV charging and data-center power.
Manufacturing model relies on long-term wafer and assembly relationships with third-party providers and is exposed to supply-chain, capacity and geopolitical risks.