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Dec 31, 2021
MaxLinear Q4 2021 Earnings Report
MaxLinear's financial performance was driven by strong growth across connectivity, broadband, and infrastructure markets, with Wi-Fi experiencing significant sequential growth.
Key Takeaways
MaxLinear reported record net revenue for Q4 2021, driven by strong growth in connectivity, broadband, and infrastructure markets. The company's non-GAAP gross margin improved due to a product mix shift towards higher value products.
Net revenue reached a record of $247.9 million, reflecting an 8% sequential increase and a 27% year-over-year increase.
GAAP gross margin was 57.2%, and non-GAAP gross margin was 61.7%, representing increases from the previous quarter.
Wi-Fi segment experienced 40% sequential growth, exiting Q4 with a $100 million annualized revenue run rate.
The company anticipates continued future growth fueled by its comprehensive product portfolio and new product launches in connectivity, fiber-to-the-home broadband, optical, and wireless infrastructure markets.
Forward Guidance
For the first quarter of 2022, MaxLinear anticipates revenue between $255 million and $265 million, a GAAP gross margin of approximately 57% to 59%, and a non-GAAP gross margin of approximately 61% to 63%.
Positive Outlook
- Revenue in the first quarter 2022 to be approximately $255 million to $265 million.
- GAAP gross margin of approximately 57% to 59%.
- Non-GAAP gross margin of approximately 61% to 63%.
- GAAP operating expenses of approximately $108 million to $114 million.
- Non-GAAP operating expenses of approximately $76 million to $82 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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