Business
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
About this update from Maxlinear, Inc
[{"type":"text","content":"\n\nRecord net revenue of $156.6 million, up 140% sequentially and up 96% year-on-year\n\n\nDelivers strong results driven by infrastructure business improvements as well as continued strength from Broadband and WiFi product contributions\n\n\n CARLSBAD, Calif.--(BUSINESS WIRE)--\nMaxLinear, 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.\n\nThird Quarter Financial Highlights\n\nGAAP basis:\n\n\nNet revenue was $156.6 million, up 140% sequentially, and up 96% year-on-year.\n\n\nGAAP gross margin was 42.3%, compared to 50.2% in the prior quarter, and 52.4% in the year-ago quarter.\n\n\nGAAP 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.\n\n\nGAAP 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.\n\n\nNet 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.\n\n\nGAAP 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.\n\n\nNon-GAAP basis:\n\n\nNon-GAAP gross margin was 58.0%. This compares to 63.7% in the prior quarter, and 63.1% in the year-ago quarter.\n\n\nNon-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.\n\n\nNon-GAAP income from operations was 19% of revenue, compared to 14% in the prior quarter, and 25% in the year-ago quarter.\n\n\nNon-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.\n\n\nRecent Business Highlights\n\n\nCompleted acquisition of Intel’s Home Gateway Platform Division broadening its existing connected home portfolio by bringing tog...