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Jun 30, 2020
MaxLinear Q2 2020 Earnings Report
Reported a revenue increase and managed operating expenses effectively.
Key Takeaways
MaxLinear reported Q2 2020 financial results with revenue of $65.2 million, a GAAP gross margin of 50.2%, and a GAAP diluted loss per share of $0.30. The company's business showed solid improvements due to stronger-than-expected revenues in broadband and analog product sales recovery. The acquisition of Intel’s Home Gateway Platform Division is on track to close during the current quarter ending September 30, 2020.
Net revenue was $65.2 million, up 5% sequentially, and down 21% year-on-year.
GAAP gross margin was 50.2%, compared to 49.6% in the prior quarter.
GAAP operating expenses were $55.5 million, or 85% of net revenue.
GAAP diluted loss per share was $0.30, compared to diluted loss per share of $0.21 in the prior quarter.
MaxLinear
MaxLinear
Forward Guidance
The company expects revenue in the third quarter 2020 to be approximately $72 million to $76 million.
Positive Outlook
- GAAP gross margin of approximately 51.5% to 52.5%
- Non-GAAP gross margin of approximately 63.5% to 64.5%
- GAAP operating expenses of approximately $60.0 million to $61.0 million
- Non-GAAP operating expenses of approximately $32.5 million to $33.5 million