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

SEC Filings

Maxlinear Inc

CIK: 1288469 Ticker: MXL

Exhibit 99.1
mxla01a01a43.jpg
FOR IMMEDIATE RELEASE

MaxLinear, Inc. Announces Preliminary Third Quarter 2021 Financial Results Exceeding Previous Expectations

Broad-based demand drives upside to prior revenue expectations
GAAP and non-GAAP gross margin and operating expense favorability generates solid operating leverage

CARLSBAD, Calif. – October 12, 2021 – MaxLinear, Inc. (NYSE: MXL), a leading provider of radio frequency (RF), analog, digital and mixed-signal integrated circuits, today announced preliminary financial results for the third quarter 2021.

Based on preliminary results, MaxLinear expects third quarter of fiscal 2021 financial results to exceed initial guidance provided on July 28, 2021 during its Q2 2021 earnings announcement. “In the third quarter, strong revenue growth, ongoing supply-chain improvements and tight expense management drove our business out-performance across the board versus our previous expectations. Our revenue growth was driven by strong end-market demand, continued share gains, and sustained increases in content-per-platform within our broadband and connectivity end-markets. Gross margins improved due to favorable product-mix trends within our high value end-markets,” commented Kishore Seendripu, Ph.D., Chairman and CEO.

$ in millions
(unless otherwise noted)
Q3 2021 GuidancePreliminary Results Q3 2021
GAAPNon-GAAPGAAPNon-GAAP
Revenue $215.0M - $225.0M $215.0M - $225.0M$225.0M - $230.0M$225.0M - $230.0M
Gross Margin54.5% - 56.5%59.5% - 61.5%55.5% - 56.5%60.5% - 61.5%
Operating Expenses$106.0M - $110.0M$75.5M - $79.5M$105.5M - $107.5M$74.0M - $76.0M
Interest and other income (expense), net$2.9M - $3.0M$2.8M - $2.9M$2.9M - $3.0M$2.8M - $2.9M
Tax rateApproximately zero6.0%Approximately zero6.0%

These are preliminary results and are subject to the completion of our financial statements by our management and the review of those financial statements by our independent registered public accounting firm. There will be no conference call associated with this press release. MaxLinear will report results for the third quarter and provide its outlook for the fourth quarter during its next earnings conference call scheduled for October 27, 2021 after market close. The Company will host a corresponding conference call at 1:30 p.m. Pacific Time, 4:30 p.m. Eastern Time.

Conference Call Details
Date:October 27, 2021
Time:1:30 p.m. Pacific Time / 4:30 p.m. Eastern Time
Hosts:Kishore Seendripu, Ph.D., Chief Executive Officer and
Steve Litchfield, Chief Financial Officer and Chief Corporate Strategy Officer
Dial-in:US toll free:1-877-407-3109
International: 1-201-493-6798

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


The following information was filed by Maxlinear Inc (MXL) on Tuesday, October 12, 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
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income (Loss)
Consolidated Statements Of Comprehensive Income (Loss) (Parenthetical)
Consolidated Statements Of Operations
Consolidated Statements Of Stockholder's Equity
Balance Sheet Details
Balance Sheet Details (Tables)
Balance Sheet Details - Accrued Expenses (Details)
Balance Sheet Details - Accrued Price Protection Liability (Details)
Balance Sheet Details - Cash, Cash Equivalents And Investments (Details)
Balance Sheet Details - Inventory (Details)
Balance Sheet Details - Investments (Details)
Balance Sheet Details - Prepaid And Other Current Assets (Details)
Balance Sheet Details - Property And Equipment (Details)
Balance Sheet Details Balance Sheet Details - Schedule Of Accumulated Other Comprehensive Income (Loss) By Component (Details)
Business Combinations
Business Combinations (Tables)
Business Combinations - Additional Information (Details)
Business Combinations - Finite-Lived And Indefinite-Lived Intangible Assets Acquired As Part Of Business Combination (Details)
Business Combinations - Schedule Of Business Acquisitions, By Acquisition (Details)
Business Combinations - Schedule Of Recognized Identified Assets Acquired And Liabilities Assumed Nanosemi, Inc. (Details)
Business Combinations - Schedule Of Recognized Identified Assets Acquired And Liabilities Assumed Wifi And Broadband Assets Business (Details)
Commitments And Contingencies
Commitments And Contingencies (Tables)
Commitments And Contingencies - Additional Information (Details)
Commitments And Contingencies - Future Minimum Inventory Purchase And Other Obligations (Details)
Concentration Of Credit Risk, Significant Customers And Geographic Information
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
Debt And Interest Rate Swap (Tables)
Debt And Interest Rate Swap - Additional Information (Details)
Debt And Interest Rate Swap - Schedule Of Debt (Details)
Debt And Interest Rate Swap - Schedule Of Maturities Of Long-Term Debt (Details)
Employee Defined Benefit Retirement Plans
Employee Defined Benefit Retirement Plans (Details)
Financial Instruments
Goodwill And Intangible Assets
Goodwill And Intangible Assets - Finite-Lived Intangible Assets Amortization Expense (Details)
Goodwill And Intangible Assets - Schedule Of Indefinite-Lived Intangible Assets (Details)
Goodwill And Intangibles Assets (Tables)
Goodwill And Intangibles Assets - Additional Information (Details)
Goodwill And Intangibles Assets - Schedule Of Acquired Finite-Lived Intangible Assets By Major Class (Details)
Goodwill And Intangibles Assets - Schedule Of Finite-Lived Intangible Assets (Details)
Goodwill And Intangibles Assets - Schedule Of Finite-Lived Intangible Assets, Future Amortization Expense (Details)
Income Taxes
Income Taxes - Additional Information (Details)
Leases
Leases (Tables)
Leases - Additional Information (Details)
Leases - Aggregate Future Minimum Payments Due (Details)
Net Income (Loss) Per Share
Net Income (Loss) Per Share (Tables)
Net Income (Loss) Per Share - Additional Information (Details)
Net Income (Loss) Per Share -Summary Of Basic And Diluted Earnings Per Share (Details)
Organization And Summary Of Significant Accounting Policies
Organization And Summary Of Significant Accounting Policies (Details)
Organization And Summary Of Significant Accounting Policies (Policies)
Restructuring Activities - Additional Information (Details)
Restructuring Activity
Restructuring Activity (Tables)
Restructuring Activity - Restructuring And Related Costs (Details)
Restructuring Activity - Schedule Of Restructuring Reserve By Type Of Cost (Details)
Revenue From Contracts With Customers
Revenue From Contracts With Customers (Tables)
Revenue From Contracts With Customers - Additional Information (Details)
Revenue From Contracts With Customers - Revenues From External Customers By Products And Services (Details)
Stock Repurchases
Stock Repurchases (Details)
Stock-Based Compensation
Stock-Based Compensation (Tables)
Stock-Based Compensation - Additional Information (Details)
Stock-Based Compensation - Employee Stock Purchase Plan, Valuation Assumptions (Details)
Stock-Based Compensation - Stock-Based Compensation Expense (Details)
Stock-Based Compensation - Summary Of Restricted Stock Unit And Performance-Based Restricted Stock Unit Activity (Details)
Stock-Based Compensation - Summary Of Stock Option Activity (Details)

Material Contracts, Statements, Certifications & more

Maxlinear Inc provided additional information to their SEC Filing as exhibits

Ticker: MXL
CIK: 1288469
Form Type: 10-Q Quarterly Report
Accession Number: 0001288469-21-000251
Submitted to the SEC: Wed Oct 27 2021 4:16:29 PM EST
Accepted by the SEC: Wed Oct 27 2021
Period: Thursday, September 30, 2021
Industry: Semiconductors And Related Devices

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