帕沃英蒂格盛 2025年度报告

☒ANNUAL REPORT PURSUANT TO SECTION13 OR 15(d)OF THE SECURITIES EXCHANGE ACT OF1934For the fiscalyear ended December31, 2025or ☐TRANSITION REPORT PURSUANT TO SECTION13 OR 15(d)OF THE SECURITIESEXCHANGE ACT OF 1934 For the transition period fromtoCommission File Number 000-23441 (I.R.S. Employer Identification No.) (408) 414-9200(Registrant’s telephone number, including area code) Securities registered pursuant to Section12(g)of the Act: None Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule405 of the Securities Act. Yes⌧No☐ Indicate by check mark if the registrant is not required to file reports pursuant to Section13 or Section15(d)of the Act.Yes☐No⌧ Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d)of the Securities Exchange Act of 1934during the preceding 12months (or for such shorter period that the registrant was required to file such reports), and (2)has been subject to such filingrequirements for the past 90days.Yes⌧No◻ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule405 ofRegulationS-T (232.405 of this chapter) during the preceding 12months (or for such shorter period that the registrant was required to submit such files).Yes⌧No◻ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smallerreporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smallerreporting company,” and “emerging growth company” in Rule12b-2 of the Exchange Act: Accelerated Filer☐Smaller Reporting Company☐Emerging Growth Company☐ Large Accelerated Filer⌧Non-acceleratedFiler☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with anynew or revised financial accounting standards provided pursuant to Section13(a)of the Exchange Act.☐ Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internalcontrol over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm thatprepared or issued its audit report.⌧ If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in thefiling reflect the correction of an error to previously issued financial statements.☐ Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensationreceived by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b).☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule12b-2 of the Act). Yes☐No⌧ The aggregate market value of registrant’s voting and non-voting common stock held by non-affiliates of registrant on June28, 2025,the last business day of the registrant’s most recently completed second fiscal quarter, was approximately $2.3 billion, based upon theclosing sale price of the common stock as reported on The Nasdaq Global Select Market. Shares of common stock held by eachofficer and director have been excluded in that such persons may be deemed to be affiliates. This determination of affiliate status isnot a conclusive determination for other purposes. As of February 2, 2026, 55,504 thousand shares of the registrant’s common stock, $0.001 par value, were issued and outstanding. DOCUMENTS INCORPORATED BY REFERENCE The information required by PartIII of this report, to the extent not set forth herein, is incorporated by reference from theRegistrant’s definitive proxy statement relating to the 2026 annual meeting of stockholders, which definitive proxy statement will befiled with the Securities and Exchange Commission within 120days after the fiscalyear to which this Report relates. POWER INTEGRATIONS,INC.TABLE OF CONTENTS PART I. ITEM 1.BUSINESS4ITEM 1A. RISK FACTORS13ITEM 1B. UNRESOLVED STAFF COMMENTS24ITEM 1C. CYBERSECURITY24ITEM 2.PROPERTIES26ITEM 3.LEGAL PROCEEDINGS26ITEM 4.MINE SAFETY DISCLOSURES26 PART II.ITEM 5.MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDERMATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES27ITEM 6.[RESERVED]28ITEM 7.MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITIONAND RESULTS OF OPERATIONS29ITEM 7A.QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK36ITEM 8.FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA38ITEM 9.CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTINGAND FINANCIAL DISCLOSURE71ITEM 9A. CONTROLS AND PROCEDURES71ITEM 9B. OTHER INFORMATION73ITEM 9C. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENTINSPECTIONS73PART III.ITEM 10.DIRECTORS, EXECU