- Broad-based demand drives upside to prior revenue expectations
- GAAP and non-GAAP gross margin and operating expense favorability generates solid operating leverage
CARLSBAD, Calif. — (BUSINESS WIRE) — October 12, 2021 — MaxLinear, Inc. (NYSE: MXL), a leading provider of radio frequency (RF), analog, digital and mixed-signal integrated circuits, today announced preliminary financial results for the third quarter 2021.
Based on preliminary results, MaxLinear expects third quarter of fiscal 2021 financial results to exceed initial guidance provided on July 28, 2021 during its Q2 2021 earnings announcement. “In the third quarter, strong revenue growth, ongoing supply-chain improvements and tight expense management drove our business out-performance across the board versus our previous expectations. Our revenue growth was driven by strong end-market demand, continued share gains, and sustained increases in content-per-platform within our broadband and connectivity end-markets. Gross margins improved due to favorable product-mix trends within our high value end-markets,” commented Kishore Seendripu, Ph.D., Chairman and CEO.
$ in millions
|
|
Q3 2021 Guidance |
|
Preliminary Results Q3 2021 |
||||
|
|
GAAP |
|
Non-GAAP |
|
GAAP |
|
Non-GAAP |
Revenue |
|
$215.0M - $225.0M |
|
$215.0M - $225.0M |
|
$225.0M - $230.0M |
|
$225.0M - $230.0M |
Gross Margin |
|
54.5% - 56.5% |
|
59.5% - 61.5% |
|
55.5% - 56.5% |
|
60.5% - 61.5% |
Operating Expenses |
|
$106.0M - $110.0M |
|
$75.5M - $79.5M |
|
$105.5M - $107.5M |
|
$74.0M - $76.0M |
Interest and other income (expense), net |
|
$2.9M - $3.0M |
|
$2.8M - $2.9M |
|
$2.9M - $3.0M |
|
$2.8M - $2.9M |
Tax rate |
|
Approximately zero |
|
6.0% |
|
Approximately zero |
|
6.0% |
These are preliminary results and are subject to the completion of our financial statements by our management and the review of those financial statements by our independent registered public accounting firm. There will be no conference call associated with this press release. MaxLinear will report results for the third quarter and provide its outlook for the fourth quarter during its next earnings conference call scheduled for October 27, 2021 after market close. The Company will host a corresponding conference call at 1:30 p.m. Pacific Time, 4:30 p.m. Eastern Time.
Conference Call Details
Date: |
October 27, 2021 |
|
Time: |
1:30 p.m. Pacific Time / 4:30 p.m. Eastern Time |
|
Hosts: |
Kishore Seendripu, Ph.D., Chief Executive Officer and
|
|
Dial-in: |
US toll free:1-877-407-3109
|
