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Jun 30, 2021
MaxLinear Q2 2021 Earnings Report
Announced financial results for the second quarter ended June 30, 2021.
Key Takeaways
MaxLinear reported Q2 2021 financial results with a net revenue of $205.4 million, up 215% year-on-year. GAAP gross margin was 54.8%, and non-GAAP gross margin was 60.2%. The company expects strong sales growth to continue into Q3 across all end-markets.
Net revenue of $205.4 million, up 215% year-on-year
GAAP gross margin 54.8%, up 140 bps from previous quarter
Non-GAAP Gross Margin of 60.2%, up 160 bps from previous quarter, above the high-end guidance
Strong Sales growth expected to continue into Q3 across all end-markets
Forward Guidance
The company expects revenue in the third quarter 2021 to be approximately $215 million to $225 million. The Company also estimates the following: GAAP gross margin of approximately 54.5% to 56.5%; Non-GAAP gross margin of approximately 59.5% to 61.5%; GAAP operating expenses of approximately $106.0 million to $110.0 million; Non-GAAP operating expenses of approximately $75.5 million to $79.5 million; GAAP interest and other expense of approximately $2.9 million to $3.0 million; and Non-GAAP interest and other expense of approximately $2.8 million to $2.9 million.
Positive Outlook
- Revenue in the third quarter 2021 to be approximately $215 million to $225 million.
- GAAP gross margin of approximately 54.5% to 56.5%
- Non-GAAP gross margin of approximately 59.5% to 61.5%
- GAAP operating expenses of approximately $106.0 million to $110.0 million
- Non-GAAP operating expenses of approximately $75.5 million to $79.5 million
Challenges Ahead
- GAAP interest and other expense of approximately $2.9 million to $3.0 million
- Non-GAAP interest and other expense of approximately $2.8 million to $2.9 million
Historical Earnings Impact
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