POWER INTEGRATIONS INC 10-Q

ITEM 1A. RISK FACTORS Except as discussed below, there have been no material changes to the risks described in Part I Item 1A in our Annual Report on Form 10-K for the year ended December 31, 2021 , which are incorporated herein by reference in this report. Risks Related to Our Business We face risks related to changing worldwide economic conditions which could adversely affect our operating results and financial condition. The US and global economies are facing high inflation rates, higher interest rates and potential recession. As disclosed in our Annual Report on Form 10-K for the year ended December 31, 2021, adverse changes in economic conditions could harm our operating results and financial conditions in a variety of ways. For example, regional or global economic downturns could adversely affect demand for our products, as could reductions in consumer spending stemming from inflation, as we have experienced in the three months ended September 30, 2022. This in turn has and could adversely affect our revenue and potentially result in write-offs of excess or obsolete inventory. Inflation could also drive increases in our costs of revenue and operations, which we may not be able to successfully pass along to our customers. For additional information regarding these and other risks related to adverse changes in macroeconomic conditions, we refer you to the risk factors disclosed in Part I Item 1A in our Annual Report on Form 10-K for the year ended December 31, 2021 . ​ ​ ​ 30 Table of Contents ​ ITEM 6. EXHIBITS ​ ​ ​ ​ ​ Incorporation by Reference EXHIBIT NUMBER Exhibit Description ​ Form File Number ​ Exhibit/Other Reference ​ Filing Date ​ Filed Herewith ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 3.1 ​ Restated Certificate of Incorporation ​ 10-K ​ 000-23441 ​ 3.1 ​ 2/29/2012 ​ ​ 3.2 ​ Amended and Restated Bylaws ​ 8-K ​ 000-23441 ​ 3.1 ​ 4/26/2013 ​ ​ 4.2 ​ Reference is made to Exhibits 3.1 to 3.2 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 31.1 ​ Certification of Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 ​ ​ ​ ​ ​ ​ ​ ​ ​ X 31.2 ​ Certification of Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 ​ ​ ​ ​ ​ ​ ​ ​ ​ X 32.1** ​ Certification of Chief Executive Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 ​ ​ ​ ​ ​ ​ ​ ​ ​ X 32.2** ​ Certification of Chief Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 ​ ​ ​ ​ ​ ​ ​ ​ ​ X 101.INS ​ XBRL Instance Document - The instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document. ​ ​ ​ ​ ​ ​ ​ ​ ​ X 101.SCH ​ Inline XBRL Taxonomy Extension Schema Document ​ ​ ​ ​ ​ ​ ​ ​ ​ X 101.CAL ​ Inline XBRL Taxonomy Extension Calculation Linkbase Document ​ ​ ​ ​ ​ ​ ​ ​ ​ X 101.DEF ​ Inline XBRL Taxonomy Extension Definition Linkbase Document ​ ​ ​ ​ ​ ​ ​ ​ ​ X 101.LAB ​ Inline XBRL Taxonomy Extension Label Linkbase Document ​ ​ ​ ​ ​ ​ ​ ​ ​ X 101.PRE ​ Inline XBRL Taxonomy Extension Presentation Linkbase Document ​ ​ ​ ​ ​ ​ ​ ​ ​ X 104 ​ Cover Page Interactive Data File (formatted as inline XBRL and contained in Exhibit 101) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 31 Table of Contents ​ ​ All references in the table above to previously filed documents or descriptions are incorporating those documents and descriptions by reference thereto. ** The certifications attached as Exhibits 32.1 and 32.2 accompanying this Quarterly Report on Form 10-Q, are not deemed filed with the SEC, and are not to be incorporated by reference into any filing of Power Integrations, Inc. under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, whether made before or after the date of this Quarterly Report on Form 10-Q, irrespective of any general incorporation language contained in such filing. ​ 32 Table of Contents ​ SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. ​ ​ POWER INTEGRATIONS, INC. ​ ​ ​ ​ Dated: November 2, 2022 By: /s/ S ANDEEP N AYYAR ​ ​ ​ Sandeep Nayyar ​ ​ ​ Chief Financial Officer ​ ​ ​ (Duly Authorized Officer, Principal Financial Officer and Principal Accounting Officer) ​ ​ ​ 33