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Dec 31, 2022
MaxLinear Q4 2022 Earnings Report
Announced record net revenue and connectivity revenue growth.
Key Takeaways
MaxLinear announced strong Q4 2022 financial results, with revenue up 2% sequentially and 17% year-over-year, reaching a record $290.6 million. The company's connectivity revenue, particularly Wi-Fi products, saw substantial growth, and the company anticipates continued long-term growth.
Net revenue reached a record $290.6 million in Q4, a 2% sequential increase and a 17% year-over-year increase.
FY22 revenue exceeded $1 billion for the first time.
Connectivity revenue, driven by Wi-Fi products, was $105 million in Q4, up 27% sequentially and 99% year-over-year.
GAAP diluted earnings per share was $0.38, compared to $0.35 in the prior quarter, and $0.35 in the year-ago quarter.
MaxLinear
MaxLinear
Forward Guidance
The company expects revenue in the first quarter 2023 to be approximately $240 million to $260 million.
Positive Outlook
- GAAP gross margin of approximately 55% to 58%
- Non-GAAP gross margin of approximately 59% to 62%
- GAAP operating expenses of approximately $113 million to $119 million
- Non-GAAP operating expenses of approximately $80 to $86 million
- GAAP and non-GAAP interest and other expenses of approximately $4 million
Challenges Ahead
- The company expects revenue in the first quarter 2023 to be approximately $240 million to $260 million.
- GAAP and non-GAAP diluted share count of 81 to 83 million.
- Impacts of a global economic downturn and high inflation
- Risks related to international geopolitical conflicts
- The effect of intense and increasing competition