MaxLinear : Earnings Release FY 2019

Published: 2025-07-11 05:34:13 ET MXL

Published on 07/11/2025 at 05:34

February 5, 2020

CARLSBAD, Calif.--(BUSINESS WIRE)-- MaxLinear, Inc. (NYSE: MXL), a leading provider of RF, analog and mixed-signal integrated circuits for the connected home, and industrial and multi-market applications, today announced financial results for the fourth quarter ended December 31, 2019.

GAAP basis:

$56.6 million in the year-ago quarter, or 65% of net revenue.

Non-GAAP basis:

$30.8 million or 38% of revenue in the prior quarter, and $36.7 million or 42% of revenue in the year-ago quarter.

share of $0.23 in the prior quarter, and diluted earnings per share of $0.20 in the year-ago quarter.

"In the fourth quarter, revenue results were in line with our guidance, gross margin was strong, and operating expenses declined on continued discipline. We delivered strong cash flow from operations in the quarter at approximately $28 million. As we enter 2020, we are excited about our new product launches coming to fruition with our new 5G wireless radio, and fiber-optic datacenter high-speed interconnect products expanding into new large, high-growth infrastructure markets. We also secured a new design-win at a major customer for our 5G Wireless radio transceiver, in addition to the tier-1 European OEM design-win in the previous quarter," commented Kishore Seendripu, Ph.D., Chairman and CEO.

The company expects revenue in the first quarter 2020 to be approximately $65 million to

$70 million. The Company also estimates the following:

MaxLinear will host its fourth quarter financial results conference call today, February 5, 2020 at 1:30 p.m. Pacific Time (4:30 p.m. Eastern Time). To access this call, dial US toll free: 1-877-407-3109 / International: 1-201-493-6798. A live webcast of the conference call will be accessible from the investor relations section of the MaxLinear website at https://investors.maxlinear.com, and will be archived and available after the call at https://investors.maxlinear.com until February 19, 2020. A replay of the conference call will also be available until February 19, 2020 by dialing US toll free: 1-877-660-6853 / International: 1-201-612-7415 and Conference ID#: 13697877.

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include, among others, statements concerning our future financial performance (including specifically our current guidance for first quarter 2020 revenue, gross margins, and operating expenses) and statements concerning expectations of potential developments in our target markets, including management's views with respect to the prospects for and trends in our connected home and 5G wireless and fiber-optic high-speed interconnect infrastructure markets. These forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause actual results to be materially different from any future results expressed or implied by the forward-looking statements. Forward-looking statements are

based on management's current, preliminary expectations and are subject to various risks and uncertainties. Risks and uncertainties affecting our business and future operating results include, without limitation, intense competition in our industry; our dependence on a limited number of customers for a substantial portion of our revenues; uncertainties concerning how end user markets for our products will develop, including in particular new markets we are entering such as the 5G wireless and fiber-optic data center high-speed interconnect infrastructure markets but also existing markets such as connected home; uncertainties concerning the outcome of global trade negotiations, export control limitations, and heightened geopolitical risks generally; uncertainties arising from the impact of novel coronavirus on the market; potential uncertainties arising from continued consolidation among cable television and satellite operators in our target markets and continued consolidation among competitors within the semiconductor industry generally; our ability to develop and introduce new and enhanced products on a timely basis and achieve market acceptance of those products, particularly as we seek to expand outside of our historic markets; potential decreases in average selling prices for our products; our reliance on a limited number of third party manufacturers; risks relating to intellectual property protection and the prevalence of intellectual property litigation in our industry; the impact on our financial condition of the indebtedness arising from the Exar transaction; and our lack of long-term supply contracts and dependence on limited sources of supply.

In addition to these risks and uncertainties, investors should review the risks and uncertainties contained in our filings with the Securities and Exchange Commission (SEC), including our Quarterly Report on Form 10-Q for the quarter ended September 30, 2019, and our Current Reports on Form 8-K, as well as the information to be set forth under the caption "Risk Factors" in MaxLinear's Annual Report on Form 10-K for the year ended December 31, 2019, which we expect to file shortly. All forward-looking statements are based on the estimates, projections and assumptions of management as of February 5, 2020, and MaxLinear is under no obligation (and expressly disclaims any such obligation) to update or revise any forward-looking statements whether as a result of new information, future events, or otherwise.

To supplement our unaudited consolidated financial statements presented on a basis consistent with GAAP, we disclose certain non-GAAP financial measures, including non-GAAP gross margin, operating expenses, operating expenses as a percentage of revenue, income from operations as percentage of revenue, and diluted earnings per share. These supplemental measures exclude the effects of (i) stock-based compensation expense; (ii) accruals related to our performance based bonus plan for 2019, which we currently intend to settle in shares of our common stock; (iii) accruals related to our performance based bonus plan for 2018 which we settled in shares of common stock in 2019; (iv) amortization of purchased intangible assets; (v) depreciation of fixed assets step-up; (vi) professional fees and settlement costs related to our previously disclosed IP and commercial litigation matters;

(vii) severance and other restructuring charges; (viii) non-cash income tax benefits and expenses and effects of the 2017 Tax Cuts and Jobs Act, or Tax Act, as applicable; and (ix) non-recurring gain on reversal of liability. These non-GAAP measures are not in accordance with and do not serve as an alternative for GAAP. We believe that these non-GAAP measures have limitations in that they do not reflect all of the amounts associated with our GAAP results of operations. These non-GAAP measures should only be viewed in

conjunction with corresponding GAAP measures. We compensate for the limitations of non-GAAP financial measures by relying upon GAAP results to gain a complete picture of our performance.

We believe that non-GAAP financial measures can provide useful information to both management and investors by excluding certain non-cash and other one-time expenses that are not indicative of our core operating results. Among other uses, our management uses non-GAAP measures to compare our performance relative to forecasts and strategic plans and to benchmark our performance externally against competitors. In addition, management's incentive compensation will be determined in part using these non-GAAP measures because we believe non-GAAP measures better reflect our core operating performance.

The following are explanations of each type of adjustment that we incorporate into non-GAAP financial measures:

Stock-based compensation expense relates to equity incentive awards granted to our employees, directors, and consultants. Our equity incentive plans are important components of our employee incentive compensation arrangements and are reflected as expenses in our GAAP results. Stock-based compensation expense has been and will continue to be a significant recurring expense for MaxLinear. While we include the dilutive impact of equity awards in weighted average shares outstanding, the expense associated with stock-based awards reflects a non-cash charge that we exclude from non-GAAP net income.

Bonuses under our executive and non-executive bonus programs have been excluded from our non-GAAP net income for all periods reported. Bonus payments for the 2018 performance periods were settled through the issuance of shares of common stock under our equity incentive plans in February 2019. We currently expect that bonus awards under our fiscal 2019 program will be settled in common stock in the first quarter of fiscal 2020.

Expenses incurred (gains recognized) in relation to acquisitions include amortization of purchased intangible assets, depreciation of step-up of property and equipment to fair value, and non-recurring gain on reversal of liability for an assumed indemnification obligation.

Restructuring charges incurred are related to our restructuring plans which eliminate redundancies and primarily include severance and restructuring costs related to exiting certain facilities.

Expenses incurred in relation to our intellectual property and commercial litigation include professional fees incurred.

Income tax benefits and expense adjustments are those that do not affect cash income taxes payable. Effects of the Tax Act were excluded from non-GAAP effective tax rate, as applicable.

Reconciliations of non-GAAP measures for the historic periods disclosed in this press release appear below. Because of the inherent uncertainty associated with our ability to project future charges, particularly related to stock-based compensation and its related tax effects as well as potential impairments, we have not provided a reconciliation for non-GAAP guidance provided for the first quarter 2020.

MaxLinear, Inc. (NYSE:MXL) is a leading provider of radio frequency (RF), analog and mixed-signal integrated circuits for the connected home, wired and wireless infrastructure, and industrial and multi-market applications. MaxLinear is headquartered in Carlsbad, California. For more information, please visit https://www.maxlinear.com.

MXL is MaxLinear's registered trademark. Other trademarks appearing herein are the property of their respective owners.

Net revenue

$ 70,018

$ 80,020

$ 87,627

Cost of net revenue

33,394

38,116

41,727

Gross profit

36,624

41,904

45,900

Operating expenses:

Research and development

23,467

23,174

29,667

Selling, general and administrative

20,924

21,920

25,208

Restructuring charges

159

144

1,737

Total operating expenses

44,550

45,238

56,612

Loss from operations

(7,926)

(3,334)

(10,712)

Interest income

222

214

Interest expense

(2,587)

(2,718)

(3,194)

Other income (expense), net

(498)

1,098

229

Total interest and other income (expense), net

(2,863)

(1,406)

(2,941)

Loss before income taxes

(10,789)

(4,740)

(13,653)

Income tax benefit

(2,685)

(26)

(13,964)

Net income (loss)

$ (8,104)

$ (4,714)

$ 311

Net income (loss) per share:

Basic

$ (0.11)

$ (0.07)

$ -

Diluted

$ (0.11)

$ (0.07)

$ -

Shares used to compute net income (loss) per share:

Basic

71,746

71,366

69,186

Diluted

71,746

71,366

71,267

Net revenue

$ 317,180

$ 384,997

Cost of net revenue

149,495

176,223

Gross profit

167,685

208,774

Operating expenses:

Research and development

98,344

120,046

Selling, general and administrative

88,762

101,789

Impairment losses

2,198

Restructuring charges

2,636

3,838

Total operating expenses

189,742

227,871

Loss from operations

(22,057)

(19,097)

Interest income

775

Interest expense

(11,133)

(14,255)

Other income (expense), net

(69)

422

Total interest and other income (expense), net

(10,427)

(13,755)

Loss before income taxes

(32,484)

(32,852)

Income tax benefit

(12,586)

(6,653)

Net loss

$ (19,898)

$ (26,199)

Net loss per share:

Basic

$ (0.28)

$ (0.38)

Diluted

$ (0.28)

$ (0.38)

Shares used to compute net loss per share:

Basic

71,005

68,490

Diluted

71,005

68,490

Three Months Ended

December 31,

September 30,

December 31,

2019

2018

Operating Activities

Net income (loss)

$ (8,104)

$ (4,714)

$ 311

Adjustments to reconcile net income (loss) to net cash provided by operating activities:

Amortization and depreciation

16,473

16,419

19,125

Amortization of debt issuance costs and accretion of discount on debt

and leases

404

380

287

Stock-based compensation

7,747

8,359

7,999

Deferred income taxes

(3,238)

(1,379)

(8,827)

Loss on disposal of property and equipment

430

Impairment of leasehold improvements

Impairment of leased right-of-use assets

7,058

Gain on extinguishment of lease liabilities

(7,557)

(Gain) loss on foreign currency

430

(183)

(268)

Excess tax benefits on stock-based awards

(192)

(61)

(820)

Changes in operating assets and liabilities:

Accounts receivable

5,930

280

(867)

Inventory

6,224

5,108

Prepaid expenses and other assets

2,889

960

(2,857)

Leased right-of-use assets

109

1,309

Accounts payable, accrued expenses and other current liabilities

2,692

(6,313)

5,410

Accrued compensation

607

730

2,387

Accrued price protection liability

(1,097)

2,291

2,036

Lease liabilities

(1,655)

(2,183)

Other long-term liabilities

(613)

749

(227)

Net cash provided by operating activities

28,107

21,752

24,173

Investing Activities

Purchases of property and equipment

(2,989)

(1,219)

(1,412)

Purchases of intangible assets

(86)

Net cash used in investing activities

(2,989)

(1,305)

(1,412)

Financing Activities

Repayment of debt

(20,000)

(15,000)

Net proceeds from issuance of common stock

2,382

288

2,732

Minimum tax withholding paid on behalf of employees for restricted stock units

(820)

(1,339)

(2,606)

Net cash provided by (used in) financing activities

1,562

(21,051)

(14,874)

Effect of exchange rate changes on cash, cash equivalents and restricted cash

(87)

(1,939)

Increase (decrease) in cash, cash equivalents and restricted cash

26,593

(514)

5,948

Cash, cash equivalents and restricted cash at beginning of period

66,524

67,038

68,243

Cash, cash equivalents and restricted cash at end of period

$ 93,117

$ 66,524

$ 74,191

Operating Activities

Net loss

$ (19,898)

$ (26,199)

Adjustments to reconcile net loss to cash provided by operating activities:

Amortization and depreciation

66,401

79,027

Impairment losses

2,198

Amortization of debt issuance costs and accretion of discount on debt and leases

1,577

1,148

Stock-based compensation

32,060

31,721

Deferred income taxes

(15,693)

(12,144)

Loss on disposal of property and equipment

430

Impairment of leasehold improvements

1,442

735

Impairment of long-lived assets

9,240

Gain on extinguishment of lease liabilities

(10,437)

(Gain) loss on foreign currency

760

(809)

Excess tax benefits on stock-based awards

(4,064)

(2,028)

Changes in operating assets and liabilities:

Accounts receivable

9,090

6,595

Inventory

10,195

11,696

Prepaid expenses and other assets

3,805

1,071

Leased right-of-use assets

3,044

Accounts payable, accrued expenses and other current liabilities

1,261

5,923

Accrued compensation

2,021

8,961

Deferred revenue and deferred profit

(138)

Accrued price protection liability

(3,966)

(5,117)

Lease liabilities

(8,142)

Other long-term liabilities

(394)

(381)

Net cash provided by operating activities

78,348

102,689

Investing Activities

Purchases of property and equipment

(6,887)

(7,825)

Purchases of intangible assets

(86)

Net cash used in investing activities

(6,973)

(7,825)

Financing Activities

Repayment of debt

(50,000)

(93,000)

Net proceeds from issuance of common stock

8,603

6,839

Minimum tax withholding paid on behalf of employees for restricted stock units

(11,986)

(7,623)

Net cash used in financing activities

(53,383)

(93,784)

Effect of exchange rate changes on cash, cash equivalents and restricted cash

934

(1,301)

Increase (decrease) in cash, cash equivalents and restricted cash

18,926

(221)

Cash, cash equivalents and restricted cash at beginning of period

74,191

74,412

Cash, cash equivalents and restricted cash at end of period

$ 93,117

$ 74,191

Current assets:

Cash and cash equivalents

$ 92,708

$ 66,115

$ 73,142

Short-term restricted cash

349

345

645

Accounts receivable, net

50,411

56,339

59,491

Inventory

31,510

37,642

41,738

Prepaid expenses and other current assets

6,792

4,679

10,357

Total current assets

181,770

165,120

185,373

Long-term restricted cash

404

Property and equipment, net

16,613

15,204

18,404

Leased right-of-use assets

10,978

18,719

Intangible assets, net

187,971

202,217

244,900

Goodwill

238,330

Deferred tax assets

67,284

64,046

51,518

Other long-term assets

2,785

3,065

4,664

Total assets

$ 705,791

$ 706,765

$ 743,593

Liabilities and stockholders' equity

Current liabilities

$ 66,562

$ 63,119

$ 75,329

Long-term lease liabilities

9,335

14,995

4,097

Long-term debt

206,909

206,622

255,757

Other long-term liabilities

8,065

8,678

8,474

Stockholders' equity

414,920

413,351

399,936

Total liabilities and stockholders' equity

$ 705,791

$ 706,765

$ 743,593

(1) Certain balances have been reclassified to conform to current period presentation.

Three Months Ended

December 31,

2019

September 30,

2019

December 31,

2018

GAAP gross profit

$ 36,624

$ 41,904

$ 45,900

Stock-based compensation

149

151

132

Performance based equity

(21)

Amortization of purchased intangible assets

8,513

8,477

8,875

Non-GAAP gross profit

45,265

50,532

54,963

GAAP R&D expenses

23,467

23,174

29,667

Stock-based compensation

(3,955)

(4,155)

(4,399)

Performance based equity

(421)

(45)

(1,254)

Depreciation of fixed asset step-up

(76)

Non-GAAP R&D expenses

19,091

18,974

23,938

GAAP SG&A expenses

20,924

21,920

25,208

Stock-based compensation

(3,643)

(4,068)

(3,481)

Performance based equity

(604)

(279)

(948)

Amortization of purchased intangible assets

(5,723)

(5,722)

(7,994)

Depreciation of fixed asset step-up

(2)

IP litigation costs, net

(71)

(3)

Non-GAAP SG&A expenses

10,957

11,780

12,780

GAAP restructuring expenses

159

144

1,737

Restructuring charges

(159)

(144)

(1,737)

Non-GAAP restructuring expenses

GAAP loss from operations

(7,926)

(3,334)

(10,712)

Total non-GAAP adjustments

23,143

23,112

28,957

Non-GAAP income from operations

15,217

19,778

18,245

GAAP and non-GAAP interest and other income (expense), net

(2,863)

(1,406)

(2,941)

Non-recurring gain on reversal of liability

(1,006)

Non-GAAP interest and other income (expense), net

(2,863)

(2,412)

(2,941)

GAAP loss before income taxes

(10,789)

(4,740)

(13,653)

Total non-GAAP adjustments

23,143

22,106

28,957

Non-GAAP income before income taxes

12,354

17,366

15,304

GAAP income tax benefit

(2,685)

(26)

(13,964)

Adjustment for non-cash tax benefits/expenses and effects of the Tax Act

3,303

894

15,035

Non-GAAP income tax provision

618

868

1,071

GAAP net income (loss)

(8,104)

(4,714)

311

Total non-GAAP adjustments before income taxes

23,143

22,106

28,957

Less: total tax adjustments

3,303

894

15,035

Non-GAAP net income

$ 11,736

$ 16,498

$ 14,233

Shares used in computing non-GAAP basic net income per share

71,746

71,366

69,186

Shares used in computing non-GAAP diluted net income per share

72,707

72,506

71,267

Non-GAAP basic net income per share

$ 0.16

$ 0.23

$ 0.21

Non-GAAP diluted net income per share

$ 0.16

$ 0.23

$ 0.20

GAAP gross profit

$ 167,685

$ 208,774

Stock-based compensation

577

489

Performance based equity

234

Amortization of purchased intangible assets

33,892

35,781

Depreciation of fixed asset step-up

303

Non-GAAP gross profit

202,206

245,581

GAAP R&D expenses

98,344

120,046

Stock-based compensation

(16,545)

(17,953)

Performance based equity

(1,391)

(5,208)

Depreciation of fixed asset step-up

(6)

(1,050)

Non-GAAP R&D expenses

80,402

95,835

GAAP SG&A expenses

88,762

101,789

Stock-based compensation

(14,938)

(13,279)

Performance based equity

(1,822)

(3,512)

Amortization of purchased intangible assets

(23,035)

(31,976)

Depreciation of fixed asset step-up

(36)

IP litigation costs, net

(81)

(83)

Non-GAAP SG&A expenses

48,886

52,903

GAAP impairment losses

2,198

Impairment losses

(2,198)

Non-GAAP impairment losses

GAAP restructuring expenses

2,636

3,838

Restructuring charges

(2,636)

(3,838)

Non-GAAP restructuring expenses

GAAP loss from operations

(22,057)

(19,097)

Total non-GAAP adjustments

94,975

115,940

Non-GAAP income from operations

72,918

96,843

GAAP and non-GAAP interest and other income (expense), net

(10,427)

(13,755)

Non-recurring gain on reversal of liability

(1,006)

Non-GAAP interest and other income (expense), net

(11,433)

(13,755)

GAAP loss before income taxes

(32,484)

(32,852)

Total non-GAAP adjustments

93,969

115,940

Non-GAAP income before income taxes

61,485

83,088

GAAP income tax benefit

(12,586)

(6,653)

Adjustment for non-cash tax benefits/expenses and effects of the Tax Act

16,296

12,469

Non-GAAP income tax provision

3,710

5,816

GAAP net loss

(19,898)

(26,199)

Total non-GAAP adjustments before income taxes

93,969

115,940

Less: total tax adjustments

16,296

12,469

Non-GAAP net income

$ 57,775

$ 77,272

Shares used in computing non-GAAP basic net income per share

71,005

68,490

Shares used in computing non-GAAP diluted net income per share

72,381

70,709

Non-GAAP basic net income per share

$ 0.81

$ 1.13

Non-GAAP diluted net income per share

$ 0.80

$ 1.09

Three Months Ended

December 31,

September 30,

December 31,

2019

2018

GAAP gross profit

52.3%

52.4%

Stock-based compensation

0.2%

Performance based equity

0.1%

Amortization of purchased intangible assets

12.2%

10.6%

10.1%

Non-GAAP gross profit

64.6%

63.1%

62.7%

GAAP R&D expenses

33.5%

29.0%

33.9%

Stock-based compensation

(5.6)%

(5.2)%

(5.0)%

Performance based equity

(0.6)%

(0.1)%

(1.4)%

Depreciation of fixed asset step-up

(0.1)%

Non-GAAP R&D expenses

27.3%

23.7%

27.3%

GAAP SG&A expenses

29.9%

27.4%

28.8%

Stock-based compensation

(5.2)%

(5.1)%

(4.0)%

Performance based equity

(0.9)%

(0.3)%

(1.1)%

Amortization of purchased intangible assets

(8.2)%

(7.2)%

(9.1)%

Depreciation of fixed asset step-up

IP litigation costs, net

(0.1)%

Non-GAAP SG&A expenses

15.6%

14.7%

14.6%

GAAP restructuring expenses

0.2%

2.0%

Restructuring charges

(0.2)%

(2.0)%

Non-GAAP restructuring expenses

GAAP loss from operations

(11.3)%

(4.2)%

(12.2)%

Total non-GAAP adjustments

33.1%

28.9%

33.0%

Non-GAAP income from operations

21.7%

24.7%

20.8%

GAAP interest and other income (expense), net

(4.1)%

(1.8)%

(3.4)%

Nonrecurring gain on reversal of liability

(1.3)%

Non-GAAP interest and other income (expense), net

(4.1)%

(3.0)%

(3.4)%

GAAP loss before income taxes

(15.4)%

(5.9)%

(15.6)%

Total non-GAAP adjustments before income taxes

33.1%

27.6%

33.0%

Non-GAAP income before income taxes

17.6%

21.7%

17.5%

GAAP income tax benefit

(3.8)%

(15.9)%

Adjustment for non-cash tax benefits/expenses and the effects of the Tax Act

4.7%

1.1%

17.2%

Non-GAAP income tax provision

0.9%

1.1%

1.2%

GAAP net income (loss)

(11.6)%

(5.9)%

0.4%

Total non-GAAP adjustments before income taxes

33.1%

27.6%

33.0%

Less: total tax adjustments

4.7%

1.1%

17.2%

Non-GAAP net income

16.8%

20.6%

16.2%

GAAP gross profit

52.9%

54.2%

Stock-based compensation

0.2%

0.1%

Performance based equity

0.1%

Amortization of purchased intangible assets

10.7%

9.3%

Depreciation of fixed asset step-up

0.1%

Non-GAAP gross profit

63.8%

GAAP R&D expenses

31.0%

31.2%

Stock-based compensation

(5.2)%

(4.7)%

Performance based equity

(0.4)%

(1.4)%

Depreciation of fixed asset step-up

(0.3)%

Non-GAAP R&D expenses

25.3%

24.9%

GAAP SG&A expenses

28.0%

26.4%

Stock-based compensation

(4.7)%

(3.4)%

Performance based equity

(0.6)%

(0.9)%

Amortization of purchased intangible assets

(7.3)%

(8.3)%

Depreciation of fixed asset step-up

IP litigation costs, net

Non-GAAP SG&A expenses

15.4%

13.7%

GAAP impairment losses

0.6%

Impairment losses

(0.6)%

Non-GAAP impairment losses

GAAP restructuring expenses

0.8%

1.0%

Restructuring charges

(0.8)%

(1.0)%

Non-GAAP restructuring expenses

GAAP loss from operations

(7.0)%

(5.0)%

Total non-GAAP adjustments

29.9%

30.1%

Non-GAAP income from operations

23.0%

25.2%

GAAP interest and other income (expense), net

(3.3)%

(3.6)%

Nonrecurring gain on reversal of liability

(0.3)%

Non-GAAP interest and other income (expense), net

(3.6)%

GAAP loss before income taxes

(10.2)%

(8.5)%

Total non-GAAP adjustments before income taxes

29.6%

30.1%

Non-GAAP income before income taxes

19.4%

21.6%

GAAP income tax benefit

(4.0)%

(1.7)%

Adjustment for non-cash tax benefits/expenses and the effects of the Tax Act

5.1%

3.2%

Non-GAAP income tax provision

1.2%

1.5%

GAAP net loss

(6.3)%

(6.8)%

Total non-GAAP adjustments before income taxes

29.6%

30.1%

Less: total tax adjustments

5.1%

3.2%

Non-GAAP net income

18.2%

20.1%

View source version on businesswire.com: https://www.businesswire.com/news/home/20200205005800/en/

Steven Litchfield Tel: 949-333-0080

[email protected] Source: MaxLinear, Inc.

Disclaimer

MaxLinear Inc. published this content on July 11, 2025, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on July 11, 2025 at 09:33 UTC.