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Sep 30, 2020
MaxLinear Q3 2020 Earnings Report
MaxLinear's financial performance significantly improved, marked by record revenue and strategic acquisitions.
Key Takeaways
MaxLinear reported record net revenue of $156.6 million for Q3 2020, a 140% increase sequentially and 96% year-over-year. The company's strong performance was driven by improvements in its infrastructure business and continued strength in Broadband and WiFi product contributions. The company also completed acquisitions of Intel’s Home Gateway Platform Division and NanoSemi, Inc.
Achieved record net revenue of $156.6 million, up 140% sequentially and 96% year-on-year.
GAAP diluted loss per share was $0.50, compared to a loss of $0.07 in the year-ago quarter.
Non-GAAP diluted earnings per share was $0.32, compared to earnings of $0.23 in the year-ago quarter.
Completed the acquisition of Intel’s Home Gateway Platform Division and NanoSemi, Inc.
Forward Guidance
The company expects revenue in the fourth quarter 2020 to be approximately $185 million to $195 million. They anticipate a GAAP gross margin of approximately 40% to 44% and a non-GAAP gross margin of approximately 56% to 59%. GAAP operating expenses are estimated to be approximately $107 million to $111 million, and non-GAAP operating expenses approximately $74 million to $78 million.
Positive Outlook
- Revenue is expected to be between $185 million and $195 million.
- GAAP gross margin is projected to be between 40% and 44%.
- Non-GAAP gross margin is expected to range from 56% to 59%.
- Focus on broadband access and connectivity products anticipates continued success.
- New product cycles and market share gains in the broadband business are expected.
Challenges Ahead
- GAAP operating expenses are projected to be between $107 million and $111 million.
- Non-GAAP operating expenses are expected to range from $74 million to $78 million.
- Future operating results are dependent on assumptions about market trends and the impact of acquisitions.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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