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Mar 31, 2021
MaxLinear Q1 2021 Earnings Report
MaxLinear's Q1 2021 financial results were announced, featuring record net revenue and strong performance in Infrastructure and Broadband product revenues.
Key Takeaways
MaxLinear reported record net revenue of $209.4 million for Q1 2021, an 8% increase sequentially and a 238% increase year-over-year, driven by strong demand for infrastructure and broadband access products. The company's cash flow from operations was approximately $40.3 million, with a non-GAAP gross margin of 58.6%.
Net revenue reached a record $209.4 million, up 8% sequentially and 238% year-over-year.
Infrastructure and Broadband product revenues were the primary drivers of the strong results.
GAAP diluted earnings per share was $0.05, compared to diluted loss per share of $0.33 in the prior quarter.
Non-GAAP diluted earnings per share was $0.55, compared to $0.39 in the prior quarter, and $0.07 in the year-ago quarter.
Forward Guidance
The company expects revenue in the second quarter 2021 to be approximately $200 million to $210 million.
Positive Outlook
- GAAP gross margin of approximately 52.5% to 54.5%
- Non-GAAP gross margin of approximately 58% to 60%
- GAAP operating expenses of approximately $102.5 million to $106.5 million
- Non-GAAP operating expenses of approximately $73 million to $77 million
- GAAP interest and other expense of approximately $3.9 million to $4.1 million
Challenges Ahead
- Non-GAAP interest and other expense of approximately $3.8 million to $4.0 million
Historical Earnings Impact
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Avg. Return Before/After Earnings
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