POWER INTEGRATIONS Business Summary

Power Integrations Inc (POWI) is a leading designer and manufacturer of high-voltage analog and digital integrated circuits (ICs) and related components used in energy-efficient power conversion. The company generates revenue primarily through the sale of proprietary semiconductor products, including its flagship PowiGaN™ gallium-nitride technology, to original equipment manufacturers (OEMs) and merchant power supply makers. Its business is categorized into four primary end-market segments: Industrial (37% of revenue), Consumer (34%), Communications (15%), and Computer (14%). The company’s solutions are critical for applications ranging from smartphone fast-chargers and home appliances to electric vehicle (EV) drivetrains, renewable energy systems, and AI data center power supplies. Power Integrations competes directly with major semiconductor players such as Analog Devices (ADI), Monolithic Power Systems (MPS), and Diodes Incorporated (DIOD). It maintains a premium market position by specializing in high-voltage integration and industry-leading efficiency standards, effectively carving out a niche as the dominant provider of high-reliability power-conversion ICs for the global clean-power ecosystem. Founded in 1988 by Klas Eklund, Art Fury, and Steven J. Sharp, the company is currently led by President and CEO Dr. Jennifer A. Lloyd, who joined in July 2025 following a nearly 30-year tenure at Analog Devices where she managed multi-billion-dollar power and precision business units. The executive team was further bolstered in early 2026 with the appointments of Nancy Erba (formerly of Infinera and Seagate) as Chief Financial Officer and Chris Jacobs (formerly of Micron and Analog Devices) as Senior Vice President of Marketing and Product Strategy. Technical leadership is spearheaded by Radu Barsan, Vice President of Technology. Following a strategic board reorganization in February 2026, Balakrishnan S. Iyer serves as the Independent Chairman of the Board, succeeding long-time leader Balu Balakrishnan, who remains a director. The board also features notable industry veterans such as Gregg Lowe, CEO of Wolfspeed, and Nancy Gioia, a former executive at Ford Motor Company, reflecting the company's strategic pivot toward automotive and high-power industrial infrastructure.