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Mar 31, 2024
MaxLinear Q1 2024 Earnings Report
Announced first quarter 2024 financial results, with revenue of $95.3 million and a GAAP gross margin of 51.7%.
Key Takeaways
MaxLinear reported a net revenue of $95.3 million for Q1 2024, a decrease of 24% sequentially and 62% year-over-year. The GAAP gross margin was 51.7%, while the non-GAAP gross margin was 60.6%. The company experienced a GAAP diluted loss per share of $0.88 and a non-GAAP diluted loss per share of $0.21.
Net revenue was $95.3 million, down 24% sequentially and 62% year-over-year.
GAAP gross margin was 51.7%, compared to 54.7% in the prior quarter, and 56.5% in the year-ago quarter.
GAAP diluted loss per share was $0.88, compared to diluted loss per share of $0.47 in the prior quarter, and diluted earnings per share of $0.12 in the year-ago quarter.
Non-GAAP diluted loss per share was $0.21, compared to earnings of $0.01 in the prior quarter, and earnings of $0.74 in the year-ago quarter.
MaxLinear
MaxLinear
Forward Guidance
The company expects net revenue in the second quarter of 2024 to be approximately $90 million to $110 million.
Positive Outlook
- GAAP gross margin of approximately 52.5% to 56.5%.
- Non-GAAP gross margin of approximately 58.5% to 61.5%.
- GAAP operating expenses of approximately $103 million to $113 million.
- Non-GAAP operating expenses of approximately $72 million to $78 million.
- GAAP and non-GAAP interest and other expense of approximately $0.5 million to $1 million each.