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Sep 30, 2021
MaxLinear Q3 2021 Earnings Report
Announced third quarter 2021 financial results with record net revenue and increased gross margin.
Key Takeaways
MaxLinear reported record net revenue of $229.8 million for Q3 2021, a 47% increase year-over-year, and a GAAP gross margin of 56.5%. The company's growth was driven by its broadband, connectivity, and industrial and multi-market segments. MaxLinear anticipates revenue between $240 million and $250 million in Q4 2021.
Net revenue was $229.8 million, up 12% sequentially and 47% year-over-year.
GAAP gross margin was 56.5%, up from 54.8% in the previous quarter and 42.3% in the year-ago quarter.
GAAP diluted earnings per share was $0.12, compared to $0.01 in the prior quarter, and diluted loss per share of $0.50 in the year-ago quarter.
Non-GAAP diluted earnings per share was $0.75, compared to $0.53 in the prior quarter, and $0.32 in the year-ago quarter.
Forward Guidance
The company expects revenue in the fourth quarter 2021 to be approximately $240 million to $250 million.
Positive Outlook
- GAAP gross margin of approximately 55.5% to 57.5%
- Non-GAAP gross margin of approximately 60.0% to 62.0%
- GAAP operating expenses of approximately $105.0 million to $109.0 million
- Non-GAAP operating expenses of approximately $73.0 million to $77.0 million
- GAAP interest and other expense of approximately $2.7 million to $2.8 million
Challenges Ahead
- Non-GAAP interest and other expense of approximately $2.6 million to $2.7 million
Historical Earnings Impact
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Avg. Return Before/After Earnings
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