Business
MaxLinear, Inc. Announces First Quarter 2020 Financial Results
CARLSBAD, Calif.--(BUSINESS WIRE)-- MaxLinear, Inc. (NYSE: MXL), a leading provider of RF, analog and mixed-signal integrated circuits for the connected
About this update from Maxlinear, Inc
[{"type":"text","content":" CARLSBAD, Calif.--(BUSINESS WIRE)--\nMaxLinear, Inc. (NYSE: MXL), a leading provider of RF, analog and mixed-signal integrated circuits for the connected home, and industrial and multi-market applications, today announced financial results for the first quarter ended March 31, 2020.\n\n\nFirst Quarter Financial Highlights\n\n\nGAAP basis:\n\n\n\nNet revenue was $62.0 million, down 11% sequentially, and down 27% year-on-year.\n\n\nGAAP gross margin was 49.6%, compared to 52.3% in the prior quarter, and 53.3% in the year-ago quarter.\n\n\nGAAP operating expenses were $50.9 million in the first quarter 2020, or 82% of net revenue, compared to $44.6 million in the prior quarter, or 64% of net revenue, and $52.9 million in the year-ago quarter, or 63% of net revenue.\n\n\nGAAP loss from operations was 33% of revenue, compared to loss from operations of 11% in the prior quarter, and loss from operations of 9% in the year-ago quarter.\n\n\nNet cash flow provided by operating activities was $6.6 million, compared to $28.1 million in the prior quarter, and $16.0 million in the year-ago quarter.\n\n\nGAAP diluted loss per share was $0.21, compared to diluted loss per share of $0.11 in the prior quarter, and diluted loss per share of $0.07 in the year-ago quarter.\n\n\n\nNon-GAAP basis:\n\n\n\nNon-GAAP gross margin was 63.8%. This compares to 64.6% in the prior quarter, and 63.5% in the year-ago quarter.\n\n\nNon-GAAP operating expenses were $31.7 million, or 51% of revenue, compared to $30.0 million or 43% of revenue in the prior quarter, and $35.7 million or 42% of revenue in the year-ago quarter.\n\n\nNon-GAAP income from operations was 13% of revenue, compared to 22% in the prior quarter, and 21% in the year-ago quarter.\n\n\nNon-GAAP diluted earnings per share was $0.07, compared to diluted earnings per share of $0.16 in the prior quarter, and diluted earnings per share of $0.19 in the year-ago quarter.\n\n\n\nRecent Business Highlights\n\n\n\nAnnounced that MxL93616 100G PAM4 DSP with EA-EML Integrated Driver was recognized as among the best in the industry by the 2020 Lightwave Innovations Review.\n\n\nAnnounced that Optoway Technology and Centera Photonics have each selected MaxLinear’s second generation PAM4 DSP to deliver sub-3.5W 100G optical modules for hyperscale data centers.\n\n\nAnnounced that Technetix Group’s Virtual Seg...