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Mar 31, 2020
MaxLinear Q1 2020 Earnings Report
MaxLinear's financial performance declined due to decrease in revenue and increase in operating expenses.
Key Takeaways
MaxLinear reported a decrease in revenue and a loss from operations for the first quarter of 2020. While revenue was in line with preliminary guidance, it was down both sequentially and year-on-year. The company is focusing on new product areas like 400 and 100Gbps PAM4 fiber optic data center products and 5G wireless access market.
Net revenue was $62.0 million, down 11% sequentially and 27% year-on-year.
GAAP gross margin was 49.6%, compared to 52.3% in the prior quarter and 53.3% in the year-ago quarter.
GAAP operating expenses were $50.9 million, or 82% of net revenue.
GAAP diluted loss per share was $0.21, compared to diluted loss per share of $0.11 in the prior quarter.
Forward Guidance
The company expects revenue in the second quarter 2020 to be approximately $60 million to $64 million. The Company also estimates the following: •GAAP gross margin of approximately 49.0% to 49.5%; •Non-GAAP gross margin of approximately 63.5% to 64.0%; •GAAP operating expenses of approximately $54.0 million to $55.0 million; and •Non-GAAP operating expenses of approximately $32.5 million to $33.5 million.
Positive Outlook
- Revenue in the second quarter 2020 to be approximately $60 million to $64 million.
- GAAP gross margin of approximately 49.0% to 49.5%.
- Non-GAAP gross margin of approximately 63.5% to 64.0%.
- GAAP operating expenses of approximately $54.0 million to $55.0 million.
- Non-GAAP operating expenses of approximately $32.5 million to $33.5 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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