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Dec 31, 2023
MaxLinear Q4 2023 Earnings Report
Reported a decrease in revenue compared to the previous year, but demonstrated solid gross margin performance.
Key Takeaways
MaxLinear reported Q4 2023 financial results with a net revenue of $125.4 million, a GAAP gross margin of 54.7%, and a non-GAAP gross margin of 61.4%. The company's GAAP diluted loss per share was $0.47, while the non-GAAP diluted earnings per share was $0.01.
Net revenue was $125.4 million in Q4, down 8% sequentially and down 57% year-over-year.
GAAP gross margin was 54.7%, compared to 54.6% in the prior quarter, and 56.2% in the year-ago quarter.
GAAP diluted loss per share was $0.47, compared to diluted loss per share of $0.49 in the prior quarter, and diluted earnings per share of $0.38 in the year-ago quarter.
Non-GAAP diluted earnings per share was $0.01, compared to $0.02 in the prior quarter, and $1.07 in the year-ago quarter.
MaxLinear
MaxLinear
Forward Guidance
The company expects net revenue in the first quarter of 2024 to be approximately $85 million to $105 million.
Positive Outlook
- GAAP gross margin of approximately 50.0% to 54.0%
- Non-GAAP gross margin of approximately 59.5% to 62.5%
- GAAP operating expenses of approximately $115 million to $125 million
- Non-GAAP operating expenses of approximately $72 million to $78 million
- GAAP and non-GAAP interest and other expense of approximately $1 million to $2 million