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Maxlinear Inc (MXL) SEC Filing 10-Q Quarterly Report for the period ending Wednesday, June 30, 2021

SEC Filings

Maxlinear Inc

CIK: 1288469 Ticker: MXL

Exhibit 99.1
mxla01a01a421a.jpg
FOR IMMEDIATE RELEASE

MaxLinear, Inc. Announces First Quarter 2021 Financial Results

Record net revenue of $209.4 million, up 8% sequentially and up 238% year-on-year
Delivers strong results driven by Infrastructure and Broadband product revenues

Carlsbad, Calif. – April 28, 2021
– MaxLinear, Inc. (NYSE: MXL), a leading provider of RF, analog, digital and mixed-signal integrated circuits, today announced financial results for the first quarter ended March 31, 2021.

First Quarter Financial Highlights
GAAP basis:
Net revenue was $209.4 million, up 8% sequentially, and up 238% year-on-year.
GAAP gross margin was 53.4%, compared to 42.7% in the prior quarter, and 49.6% in the year-ago quarter.
GAAP operating expenses were $101.8 million in the first quarter 2021, or 49% of net revenue, compared to $106.7 million in the prior quarter, or 55% of net revenue, and $50.9 million in the year-ago quarter, or 82% of net revenue.
GAAP income from operations was 5% of revenue, compared to loss from operations of 12% in the prior quarter, and loss from operations of 32% in the year-ago quarter.
Net cash flow provided by operating activities was $40.3 million, compared to net cash flow provided by operating activities of $74.3 million in the prior quarter, and net cash flow provided by operating activities of $6.6 million in the year-ago quarter.
GAAP diluted earnings per share was $0.05, compared to diluted loss per share of $0.33 in the prior quarter, and diluted loss per share of $0.21 in the year-ago quarter.
Non-GAAP basis:
Non-GAAP gross margin was 58.6%. This compares to 57.8% in the prior quarter, and 63.8% in the year-ago quarter.
Non-GAAP operating expenses were $72.6 million, or 35% of revenue, compared to $75.8 million or 39% of revenue in the prior quarter, and $31.7 million or 51% of revenue in the year-ago quarter.
Non-GAAP income from operations was 24% of revenue, compared to 19% in the prior quarter, and 13% in the year-ago quarter.
Non-GAAP diluted earnings per share was $0.55, compared to diluted earnings per share of $0.39 in the prior quarter, and diluted earnings per share of $0.07 in the year-ago quarter.

Recent Business Highlights

Announced that MaxLinear joined the O-RAN Alliance and will be actively contributing to the development of open, standards-based 5G mobile network architectures.
Announced MaxLinear's collaboration with Facebook Connectivity on Evenstar OpenRAN Solutions.
Announced MaxLinear's collaboration with NI to simplify validation of wideband power amplifiers for 5G networks, giving RF Design Validation Engineers a streamlined test and measurement approach.
Announced industry's first quad-port PHY optimized for 2.5GBASE-T enabling cost effective 2.5G Ethernet multiport applications.
Announced the release of MaxLinear's G.hn Spirit Grid software designed for large-scale, multi-hop, high-speed, low-latency industrial IoT (IIoT) applications and support for up to 250 end points with one network controller.
Announced partnership with Inango Systems to allow internet service providers to deploy high-value software services faster.
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The following information was filed by Maxlinear Inc (MXL) on Wednesday, April 28, 2021 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Maxlinear Inc's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Consolidated Balance Sheets
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Consolidated Statements Of Cash Flows
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Balance Sheet Details - Cash, Cash Equivalents And Investments (Details)
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Concentration Of Credit Risk, Significant Customers And Geographic Information (Details)
Concentration Of Credit Risk, Significant Customers And Geographic Information (Tables)
Debt And Interest Rate Swap
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Maxlinear Inc provided additional information to their SEC Filing as exhibits

Ticker: MXL
CIK: 1288469
Form Type: 10-Q Quarterly Report
Accession Number: 0001288469-21-000193
Submitted to the SEC: Wed Jul 28 2021 4:13:09 PM EST
Accepted by the SEC: Wed Jul 28 2021
Period: Wednesday, June 30, 2021
Industry: Semiconductors And Related Devices

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