___________________________________________
⁽¹⁾ Included three months of Entropic operations.
⁽²⁾ Included two months of Entropic operations.

MAXLINEAR, INC. 
UNAUDITED GAAP CONSOLIDATED STATEMENTS OF OPERATIONS 
(in thousands, except per share data)

	Nine Months Ended
	September 30, 2015 (1)				September 30, 2014
Net revenue	$	201,411			$	100,634
Cost of net revenue	101,748				38,426
Gross profit	99,663				62,208
Operating expenses:
Research and development	62,765				41,944
Selling, general and administrative	60,021				24,590
Restructuring charges	11,814				—
Total operating expenses	134,600				66,534
Loss from operations	(34,937		)		(4,326		)
Interest income	168				182
Other income (expense), net	351				(79		)
Loss before income taxes	(34,418		)		(4,223		)
(Benefit) provision for income taxes	(631		)		456
Net loss	$	(33,787	)		$	(4,679	)
Net loss per share:
Basic	$	(0.67	)		$	(0.13	)
Diluted	$	(0.67	)		$	(0.13	)
Shares used to compute net loss per share:
Basic	50,528				36,127
Diluted	50,528				36,127

___________________________________________
⁽¹⁾ Included five months of Entropic operations.

MAXLINEAR, INC. 
UNAUDITED GAAP CONSOLIDATED STATEMENTS OF CASH FLOWS 
(in thousands)

	Three Months Ended
	September 30, 2015				June 30, 2015				September 30, 2014
Operating Activities
Net income (loss)	$	1,582			$	(30,647	)		$	(3,205	)
Adjustments to reconcile net loss to cash provided by operating activities:
Amortization and depreciation	17,296				12,227				1,322
Amortization of investment premiums, net	57				55				168
Amortization of inventory step-up	958				13,286				—
Stock-based compensation	5,032				6,301				4,002
Deferred income taxes	251				(1,960		)		—
Gain on disposal of property and equipment	(39		)		—				—
Loss on sale of available-for-sale securities	21				—				—
Impairment of long-lived assets	153				—				8
Impairment of lease	568				5,593				—
Changes in operating assets and liabilities:
Accounts receivable	(205		)		8,319				233
Inventory	1,581				(9,659		)		187
Prepaid and other assets	(2,684		)		3,800				(60		)
Accounts payable, accrued expenses and other current liabilities	(9,370		)		(2,530		)		(1,086		)
Accrued compensation	3,342				(371		)		1,461
Deferred revenue and deferred profit	3				502				2,256
Accrued price protection liability	3,925				(372		)		973
Other long-term liabilities	(513		)		90				102
Net cash provided by operating activities	21,958				4,634				6,361
Investing Activities
Purchases of property and equipment	103				(436		)		(3,126		)
Purchases of intangible assets	(100		)		—				—
Cash used in acquisition, net of cash acquired	—				(3,615		)		—
Purchases of available-for-sale securities	(25,712		)		(3,815		)		(6,693		)
Maturities of available-for-sale securities	4,400				36,918				6,900
Net cash (used in) provided by investing activities	(21,309		)		29,052				(2,919		)
Financing Activities
Repurchases of common stock	—				(101		)		—
Net proceeds from issuance of common stock	2,891				3,207				25
Minimum tax withholding paid on behalf of employees for restricted stock units	(1,367		)		(2,896		)		(653		)
Equity issuance costs	—				(8		)		—
Net cash provided by (used in) financing activities	1,524				202				(628		)
Effect of exchange rate changes on cash and cash equivalents	(755		)		74				(7		)
Increase in cash and cash equivalents	1,418				33,962				2,807
Cash and cash equivalents at beginning of period	56,731				22,769				31,248
Cash and cash equivalents at end of period	$	58,149			$	56,731			$	34,055