BusinessWire

MaxLinear, Inc. Announces Third Quarter 2020 Financial Results

  • Record net revenue of $156.6 million, up 140% sequentially and up 96% year-on-year
  • Delivers strong results driven by infrastructure business improvements as well as continued strength from Broadband and WiFi product contributions

CARLSBAD, Calif.--(BUSINESS WIRE)--MaxLinear, Inc. (NYSE: MXL), a leading provider of RF, analog, digital and mixed-signal integrated circuits, today announced financial results for the third quarter ended September 30, 2020.


Third Quarter Financial Highlights

GAAP basis:

  • Net revenue was $156.6 million, up 140% sequentially, and up 96% year-on-year.
  • GAAP gross margin was 42.3%, compared to 50.2% in the prior quarter, and 52.4% in the year-ago quarter.
  • GAAP operating expenses were $100.8 million in the third quarter 2020, or 64% of net revenue, compared to $55.5 million in the prior quarter, or 85% of net revenue, and $45.2 million in the year-ago quarter, or 57% of net revenue.
  • GAAP loss from operations was 22% of revenue, compared to loss from operations of 35% in the prior quarter, and loss from operations of 4% in the year-ago quarter.
  • Net cash flow used in operating activities was $16.6 million, compared to net cash flow provided by operating activities of $9.3 million in the prior quarter, and net cash flow provided by operating activities of $21.8 million in the year-ago quarter.
  • GAAP diluted loss per share was $0.50, compared to diluted loss per share of $0.30 in the prior quarter, and diluted loss per share of $0.07 in the year-ago quarter.

Non-GAAP basis:

  • Non-GAAP gross margin was 58.0%. This compares to 63.7% in the prior quarter, and 63.1% in the year-ago quarter.
  • Non-GAAP operating expenses were $61.1 million, or 39% of revenue, compared to $32.6 million or 50% of revenue in the prior quarter, and $30.8 million or 38% of revenue in the year-ago quarter.
  • Non-GAAP income from operations was 19% of revenue, compared to 14% in the prior quarter, and 25% in the year-ago quarter.
  • Non-GAAP diluted earnings per share was $0.32, compared to diluted earnings per share of $0.09 in the prior quarter, and diluted earnings per share of $0.23 in the year-ago quarter.

Recent Business Highlights

  • Completed acquisition of Intel’s Home Gateway Platform Division broadening its existing connected home portfolio by bringing together a complete, scalable, complementary platform of connectivity and access solutions
  • Completed acquisition of NanoSemi, Inc., strengthening its IP portfolio for its 5G and WiFi base station solutions

Management Commentary

“In the third quarter, we posted record revenue due to stronger-than-expected demand for broadband access and connectivity products, along with meaningful quarterly improvements in our infrastructure business. These results not only support our positive outlook for new revenues with our PAM4 DSP product for the 400G optical datacenter market and 5G wireless backhaul and access product offerings, but they also point to a new all-time high revenue guidance in the fourth quarter,” commented Kishore Seendripu, Ph.D., Chairman and CEO.

“We realized partial quarter contribution from the acquisition of Intel’s Home Gateway Platform Division, which has exceeded our initial expectations of revenue and the potential for improving its cost structure. We are benefiting from the strong demand for increased data access bandwidth and its robust distribution inside the home using WiFi-connectivity. Additionally, on September 9, we closed the acquisition of NanoSemi, which will greatly strengthen MaxLinear’s 5G wireless infrastructure product offerings and our competitive positioning in the market. Overall, we are confident in exceeding our prior outlook driven by new product cycles, market share gains in our broadband business, and disciplined expense management,” continued Dr. Seendripu.

Fourth Quarter 2020 Business Outlook

The company expects revenue in the fourth quarter 2020 to be approximately $185 million to $195 million. The Company also estimates the following:

  • GAAP gross margin of approximately 40% to 44%;
  • Non-GAAP gross margin of approximately 56% to 59%;
  • GAAP operating expenses of approximately $107 million to $111 million; and
  • Non-GAAP operating expenses of approximately $74 million to $78 million.

Webcast and Conference Call

MaxLinear will host its third quarter financial results conference call today, November 5, 2020 at 1:30 p.m. Pacific Time (4:30 p.m. Eastern Time). To access this call, dial US toll free: 1-877-407-3109 / International: 1-201-493-6798. A live webcast of the conference call will be accessible from the investor relations section of the MaxLinear website at https://investors.maxlinear.com, and will be archived and available after the call at https://investors.maxlinear.com until November 20, 2020. A replay of the conference call will also be available until November 19, 2020 by dialing US toll free: 1-877-660-6853 / International: 1-201-612-7415 and Conference ID#: 13711771.

Cautionary Note Concerning Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include, among others, statements concerning our future financial performance (including specifically our current guidance for fourth quarter 2020 revenue, gross margins, and operating expenses) and statements concerning expectations of potential developments in our target markets, including management’s views with respect to the prospects for and trends in our broadband, connected home and 5G wireless and fiber-optic high-speed interconnect infrastructure markets. These forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause actual results to be materially different from any future results expressed or implied by the forward-looking statements. Forward-looking statements are based on management’s current, preliminary expectations and are subject to various risks and uncertainties. In particular, our future operating results are substantially dependent on our assumptions about market trends and conditions and our expectations with respect to the impact of our acquisitions of the Home Gateway Platform Division of Intel Corporation, which we refer to as the WiFi and Broadband assets business and NanoSemi, Inc. With respect to our acquisitions of the WiFi and Broadband assets business and NanoSemi, we face particular risks associated with our ability to successfully complete the integration of the acquired businesses and maintain relationships with employees, customers, and vendors. The WiFi and Broadband assets business and NanoSemi operate in jurisdictions materially affected by the novel coronavirus (COVID-19) pandemic, which enhances integration risks, particularly relating to employee hiring and retention. The WiFi and Broadband assets business and NanoSemi have operations that differ from those of MaxLinear, and we may be unable to realize anticipated strategic, financial, and operating synergies. In addition, we have incurred incremental acquisition-related indebtedness, which will enhance specific risks relating to our ability to service interest and principal payments on our combined indebtedness and limitations on our operating flexibility based on financial and operating covenants in the applicable term loan agreements, including (without limitation) debt covenant restrictions that may limit our ability to obtain additional financing, issue guarantees, create liens, make certain restricted payments or repay certain obligations or to pursue future acquisitions. Additional risks and uncertainties affecting our business and future operating results include, without limitation, the on-going impact of the COVID-19 pandemic, including whether and the extent to which we will continue to benefit from work-from-home and similar initiatives as the situation progresses; risks associated with our ability to realize improved profitability from our WiFi and Broadband assets business and Nanosemi; intense competition in our industry; our dependence on a limited number of customers for a substantial portion of our revenues; potential uncertainties arising from continued consolidation among cable television and satellite operators in our target markets and continued consolidation among competitors within the semiconductor industry generally; our ability to develop and introduce new and enhanced products on a timely basis and achieve market acceptance of those products, particularly as we seek to expand outside of our historic markets; impact of the COVID-19 pandemic on customer demand and on our business and global financial markets in general; potential decreases in average selling prices for our products; risks relating to intellectual property protection and the prevalence of intellectual property litigation in our industry; our reliance on a limited number of third party manufacturers; our lack of long-term supply contracts and dependence on limited sources of supply; uncertainties concerning how end user markets for our products will develop, including in particular markets we have entered more recently such as the 5G wireless and fiber-optic data center high-speed interconnect infrastructure markets but also existing markets such as connected home; and uncertainties concerning the outcome of global trade negotiations, export control limitations, and heightened geopolitical risks generally.

In addition to these risks and uncertainties, investors should review the risks and uncertainties contained in our filings with the Securities and Exchange Commission (SEC), including our most recent Annual Report on Form 10-K for the year ended December 31, 2019 filed with the SEC on February 5, 2020, our Quarterly Report on Form 10-Q for the quarter ended June 30, 2020 filed with the SEC on July 23, 2020, and our Current Reports on Form 8-K, as well as the information to be set forth under the caption “Risk Factors” in MaxLinear’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2020, which we expect to file shortly. All forward-looking statements are based on the estimates, projections and assumptions of management as of November 5, 2020, and MaxLinear is under no obligation (and expressly disclaims any such obligation) to update or revise any forward-looking statements whether as a result of new information, future events, or otherwise.

Use of Non-GAAP Financial Measures

To supplement our unaudited consolidated financial statements presented on a basis consistent with GAAP, we disclose certain non-GAAP financial measures, including non-GAAP gross margin, operating expenses, operating expenses as a percentage of revenue, income from operations as percentage of revenue, and diluted earnings per share. These supplemental measures exclude the effects of (i) stock-based compensation expense; (ii) accruals related to our performance based bonus plan for 2020, which we currently intend to settle in shares of our common stock; (iii) accruals related to our performance based bonus plan for 2019, which we settled in shares of common stock in 2020; (iv) amortization of purchased intangible assets and inventory step-up to fair value; (v) depreciation of fixed assets step-up to fair value; (vi) acquisition and integration costs related to our acquisitions; (vii) professional fees and settlement costs related to IP and commercial litigation matters; (viii) severance and other restructuring charges; (ix) impairment losses on intangible assets; and (x) non-cash income tax benefits and expenses. These non-GAAP measures are not in accordance with and do not serve as an alternative for GAAP. We believe that these non-GAAP measures have limitations in that they do not reflect all of the amounts associated with our GAAP results of operations. These non-GAAP measures should only be viewed in conjunction with corresponding GAAP measures. We compensate for the limitations of non-GAAP financial measures by relying upon GAAP results to gain a complete picture of our performance.

We believe that non-GAAP financial measures can provide useful information to both management and investors by excluding certain non-cash and other one-time expenses that are not indicative of our core operating results. Among other uses, our management uses non-GAAP measures to compare our performance relative to forecasts and strategic plans and to benchmark our performance externally against competitors. In addition, management’s incentive compensation will be determined in part using these non-GAAP measures because we believe non-GAAP measures better reflect our core operating performance.

The following are explanations of each type of adjustment that we incorporate into non-GAAP financial measures:

Stock-based compensation expense relates to equity incentive awards granted to our employees, directors, and consultants. Our equity incentive plans are important components of our employee incentive compensation arrangements and are reflected as expenses in our GAAP results. Stock-based compensation expense has been and will continue to be a significant recurring expense for MaxLinear. While we include the dilutive impact of equity awards in weighted average shares outstanding, the expense associated with stock-based awards reflects a non-cash charge that we exclude from non-GAAP net income.

Bonuses under our executive and non-executive bonus programs have been excluded from our non-GAAP net income for all periods reported. Bonus payments for the 2019 performance periods were settled through the issuance of shares of common stock under our equity incentive plans in March 2020. We currently expect that bonus awards under our fiscal 2020 program will be settled in common stock in the first quarter of fiscal 2021.

Expenses incurred in relation to acquisitions primarily include amortization of purchased intangible assets and step-up of inventory and fixed assets to fair value, and acquisition and integration costs primarily consisting of professional and consulting fees.

Impairment losses relate to certain intangible assets.

Restructuring charges incurred are related to our restructuring plans which eliminate redundancies and primarily include severance and restructuring costs related to impairment of leased right-of-use assets or from exiting certain facilities.

Expenses incurred in relation to our intellectual property and commercial litigation include professional fees incurred.

Income tax benefits and expense adjustments are those that do not affect cash income taxes payable.

Reconciliations of non-GAAP measures for the historic periods disclosed in this press release appear below. Because of the inherent uncertainty associated with our ability to project future charges, particularly related to stock-based compensation and its related tax effects as well as potential impairments, we have not provided a reconciliation for non-GAAP guidance provided for the fourth quarter 2020.

About MaxLinear, Inc.

MaxLinear, Inc. (NYSE:MXL) is a leading provider of radio frequency (RF), analog, digital and mixed-signal integrated circuits for access and connectivity, wired and wireless infrastructure, and industrial and multi-market applications. MaxLinear is headquartered in Carlsbad, California. For more information, please visit www.maxlinear.com.

MXL is MaxLinear’s registered trademark. Other trademarks appearing herein are the property of their respective owners.

 

MAXLINEAR, INC.

UNAUDITED GAAP CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except per share data)

 

 

Three Months Ended

 

September 30, 2020

 

June 30, 2020

 

September 30, 2019

Net revenue

$

156,633

 

 

 

$

65,220

 

 

 

$

80,020

 

 

Cost of net revenue

90,427

 

 

 

32,477

 

 

 

38,116

 

 

Gross profit

66,206

 

 

 

32,743

 

 

 

41,904

 

 

Operating expenses:

 

 

 

 

 

Research and development

55,816

 

 

 

27,984

 

 

 

23,174

 

 

Selling, general and administrative

41,685

 

 

 

27,470

 

 

 

21,920

 

 

Restructuring charges

3,280

 

 

 

64

 

 

 

144

 

 

Total operating expenses

100,781

 

 

 

55,518

 

 

 

45,238

 

 

Loss from operations

(34,575

)

 

 

(22,775

)

 

 

(3,334

)

 

Interest income

27

 

 

 

31

 

 

 

214

 

 

Interest expense

(3,569

)

 

 

(2,183

)

 

 

(2,718

)

 

Other income (expense), net

(719

)

 

 

(81

)

 

 

1,098

 

 

Total interest and other income (expense), net

(4,261

)

 

 

(2,233

)

 

 

(1,406

)

 

Loss before income taxes

(38,836

)

 

 

(25,008

)

 

 

(4,740

)

 

Income tax benefit

(2,191

)

 

 

(3,201

)

 

 

(26

)

 

Net loss

$

(36,645

)

 

 

$

(21,807

)

 

 

$

(4,714

)

 

Net loss per share:

 

 

 

 

 

Basic

$

(0.50

)

 

 

$

(0.30

)

 

 

$

(0.07

)

 

Diluted

$

(0.50

)

 

 

$

(0.30

)

 

 

$

(0.07

)

 

Shares used to compute net loss per share:

 

 

 

 

 

Basic

73,402

 

 

 

72,740

 

 

 

71,366

 

 

Diluted

73,402

 

 

 

72,740

 

 

 

71,366

 

 

 

MAXLINEAR, INC.

UNAUDITED GAAP CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except per share data)

 

 

Nine Months Ended

 

September 30, 2020

 

September 30, 2019

Net revenue

$

283,880

 

 

 

$

247,162

 

 

Cost of net revenue

154,169

 

 

 

116,101

 

 

Gross profit

129,711

 

 

 

131,061

 

 

Operating expenses:

 

 

 

Research and development

109,489

 

 

 

74,877

 

 

Selling, general and administrative

93,787

 

 

 

67,838

 

 

Impairment losses

86

 

 

 

 

 

Restructuring charges

3,833

 

 

 

2,477

 

 

Total operating expenses

207,195

 

 

 

145,192

 

 

Loss from operations

(77,484

)

 

 

(14,131

)

 

Interest income

283

 

 

 

553

 

 

Interest expense

(8,228

)

 

 

(8,546

)

 

Other income (expense), net

(620

)

 

 

429

 

 

Total interest and other income (expense), net

(8,565

)

 

 

(7,564

)

 

Loss before income taxes

(86,049

)

 

 

(21,695

)

 

Income tax benefit

(12,128

)

 

 

(9,901

)

 

Net loss

$

(73,921

)

 

 

$

(11,794

)

 

Net loss per share:

 

 

 

Basic

$

(1.02

)

 

 

$

(0.17

)

 

Diluted

$

(1.02

)

 

 

$

(0.17

)

 

Shares used to compute net loss per share:

 

 

 

Basic

72,729

 

 

 

70,755

 

 

Diluted

72,729

 

 

 

70,755

 

 

 

 

 

 

MAXLINEAR, INC.

UNAUDITED GAAP CONSOLIDATED STATEMENTS OF CASH FLOWS

(in thousands)

 

 

Three Months Ended

 

September 30, 2020

 

June 30, 2020

 

September 30, 2019

Operating Activities

 

 

 

 

 

Net loss

$

(36,645

)

 

 

$

(21,807

)

 

 

$

(4,714

)

 

Adjustments to reconcile net loss to net cash provided by (used in) operating activities:

 

 

 

 

 

Amortization and depreciation

20,554

 

 

 

16,532

 

 

 

16,419

 

 

Amortization of inventory step-up

14,445

 

 

 

 

 

 

 

 

Amortization of debt issuance costs and accretion of discount on debt and leases

579

 

 

 

397

 

 

 

380

 

 

Stock-based compensation

14,145

 

 

 

12,085

 

 

 

8,359

 

 

Deferred income taxes

3,834

 

 

 

(2,879

)

 

 

(1,379

)

 

Impairment of leasehold improvements

156

 

 

 

 

 

 

 

 

Impairment of leased right-of-use assets

1,464

 

 

 

 

 

 

 

 

(Gain) loss on foreign currency

601

 

 

 

20

 

 

 

(183

)

 

Excess tax benefits on stock based awards

(152

)

 

 

(472

)

 

 

(61

)

 

Changes in operating assets and liabilities, net of effects of acquisitions:

 

 

 

 

 

Accounts receivable

(63,569

)

 

 

3,362

 

 

 

280

 

 

Inventory

(17,349

)

 

 

(3,184

)

 

 

5,108

 

 

Prepaid expenses and other assets

(35,131

)

 

 

(669

)

 

 

960

 

 

Leased right-of-use assets

79

 

 

 

(314

)

 

 

1,309

 

 

Accounts payable, accrued expenses and other current liabilities

61,958

 

 

 

6,020

 

 

 

(6,313

)

 

Accrued compensation

15,364

 

 

 

4,396

 

 

 

730

 

 

Accrued price protection liability

12,108

 

 

 

(2,132

)

 

 

2,291

 

 

Lease liabilities

(1,566

)

 

 

(1,279

)

 

 

(2,183

)

 

Other long-term liabilities

(7,459

)

 

 

(816

)

 

 

749

 

 

Net cash provided by (used in) operating activities

(16,584

)

 

 

9,260

 

 

 

21,752

 

 

Investing Activities

 

 

 

 

 

Purchases of property and equipment

(5,196

)

 

 

(3,901

)

 

 

(1,219

)

 

Purchases of intangible assets

(375

)

 

 

(13

)

 

 

(86

)

 

Cash used in acquisitions, net of cash acquired

(160,000

)

 

 

 

 

 

 

 

Net cash used in investing activities

(165,571

)

 

 

(3,914

)

 

 

(1,305

)

 

Financing Activities

 

 

 

 

 

Proceeds from the issuance of debt

175,000

 

 

 

 

 

 

 

 

Payment of debt issuance cost

(2,696

)

 

 

 

 

 

 

 

Repayment of debt

 

 

 

 

 

 

(20,000

)

 

Net proceeds from issuance of common stock

628

 

 

 

4,154

 

 

 

288

 

 

Minimum tax withholding paid on behalf of employees for restricted stock units

(1,393

)

 

 

(1,024

)

 

 

(1,339

)

 

Net cash provided by (used in) financing activities

171,539

 

 

 

3,130

 

 

 

(21,051

)

 

Effect of exchange rate changes on cash, cash equivalents and restricted cash

(71

)

 

 

513

 

 

 

90

 

 

Increase (decrease) in cash, cash equivalents and restricted cash

(10,687

)

 

 

8,989

 

 

 

(514

)

 

Cash, cash equivalents and restricted cash at beginning of period

107,429

 

 

 

98,440

 

 

 

67,038

 

 

Cash, cash equivalents and restricted cash at end of period

$

96,742

 

 

 

$

107,429

 

 

 

$

66,524

 

 

 

MAXLINEAR, INC.

UNAUDITED GAAP CONSOLIDATED STATEMENTS OF CASH FLOWS

(in thousands)

 

 

Nine months ended

 

September 30, 2020

 

September 30, 2019

Operating Activities

 

 

 

Net loss

$

(73,921

)

 

 

$

(11,794

)

 

Adjustments to reconcile net loss to cash provided by (used in) operating activities:

 

 

 

Amortization and depreciation

53,819

 

 

 

49,928

 

 

Impairment losses

86

 

 

 

 

 

Amortization of inventory step-up

14,445

 

 

 

 

 

Amortization of debt issuance costs and accretion of discount on debt and leases

1,386

 

 

 

1,173

 

 

Stock-based compensation

33,057

 

 

 

24,313

 

 

Deferred income taxes

(5,253

)

 

 

(12,455

)

 

Loss on disposal of property and equipment

 

 

 

46

 

 

Impairment of leasehold improvements

319

 

 

 

1,442

 

 

Impairment of leased right-of-use assets

1,508

 

 

 

2,182

 

 

Gain on extinguishment of lease liabilities

 

 

 

(2,880

)

 

Loss on foreign currency

375

 

 

 

330

 

 

Excess tax benefits on stock-based awards

(530

)

 

 

(3,872

)

 

Changes in operating assets and liabilities, net of effects of acquisitions:

 

 

 

Accounts receivable

(54,592

)

 

 

3,160

 

 

Inventory

(20,180

)

 

 

3,971

 

 

Prepaid expenses and other assets

(34,357

)

 

 

916

 

 

Leased right-of-use assets

405

 

 

 

2,935

 

 

Accounts payable, accrued expenses and other current liabilities

67,193

 

 

 

(1,431

)

 

Accrued compensation

23,121

 

 

 

1,414

 

 

Accrued price protection liability

5,439

 

 

 

(2,869

)

 

Lease liabilities

(4,275

)

 

 

(6,487

)

 

Other long-term liabilities

(8,721

)

 

 

219

 

 

Net cash provided by (used in) operating activities

(676

)

 

 

50,241

 

 

Investing Activities

 

 

 

Purchases of property and equipment

(10,132

)

 

 

(3,898

)

 

Purchases of intangible assets

(388

)

 

 

(86

)

 

Cash used in acquisitions, net of cash acquired

(160,000

)

 

 

 

 

Net cash used in investing activities

(170,520

)

 

 

(3,984

)

 

Financing Activities

 

 

 

Proceeds from the issuance of debt

175,000

 

 

 

 

 

Payment of debt issuance cost

(2,696

)

 

 

 

 

Repayment of debt

 

 

 

(50,000

)

 

Net proceeds from issuance of common stock

5,270

 

 

 

6,221

 

 

Minimum tax withholding paid on behalf of employees for restricted stock units

(2,892

)

 

 

(11,166

)

 

Net cash provided by (used in) financing activities

174,682

 

 

 

(54,945

)

 

Effect of exchange rate changes on cash, cash equivalents and restricted cash

139

 

 

 

1,021

 

 

Increase (decrease) in cash, cash equivalents and restricted cash

3,625

 

 

 

(7,667

)

 

Cash, cash equivalents and restricted cash at beginning of period

93,117

 

 

 

74,191

 

 

Cash, cash equivalents and restricted cash at end of period

$

96,742

 

 

 

$

66,524

 

 

 

 

 

 

MAXLINEAR, INC.

UNAUDITED GAAP CONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands)

 
 

 

September 30, 2020

 

June 30, 2020

 

September 30, 2019

Assets

 

 

 

 

 

Current assets:

 

 

 

 

 

Cash and cash equivalents

$

96,570

 

 

$

107,362

 

 

$

66,115

 

Short-term restricted cash

111

 

 

9

 

 

345

 

Accounts receivable, net

105,355

 

 

41,434

 

 

56,339

 

Inventory

104,471

 

 

34,284

 

 

37,642

 

Prepaid expenses and other current assets

43,546

 

 

7,489

 

 

4,679

 

Total current assets

350,053

 

 

190,578

 

 

165,120

 

Long-term restricted cash

61

 

 

58

 

 

64

 

Property and equipment, net

37,258

 

 

18,059

 

 

15,204

 

Leased right-of-use assets

11,876

 

 

8,942

 

 

18,719

 

Intangible assets, net

232,148

 

 

159,441

 

 

202,217

 

Goodwill

302,576

 

 

238,330

 

 

238,330

 

Deferred tax assets

72,537

 

 

76,371

 

 

64,046

 

Other long-term assets

1,270

 

 

1,281

 

 

3,065

 

Total assets

$

1,007,779

 

 

$

693,060

 

 

$

706,765

 

 

 

 

 

 

 

Liabilities and stockholders’ equity

 

 

 

 

 

Current liabilities

$

211,374

 

 

$

69,964

 

 

$

63,119

 

Long-term lease liabilities

9,406

 

 

6,833

 

 

14,995

 

Long-term debt

372,457

 

 

207,486

 

 

206,622

 

Other long-term liabilities

17,734

 

 

6,802

 

 

8,678

 

Stockholders’ equity

396,808

 

 

401,975

 

 

413,351

 

Total liabilities and stockholders’ equity

$

1,007,779

 

 

$

693,060

 

 

$

706,765

 

 

Contacts

MaxLinear, Inc. Investor Relations Contact:

Steven Litchfield
Tel: 949-333-0080
IR@maxlinear.com


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