UNAUDITED GAAP CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands)
| September 30, 2015 | June 30, 2015 | December 31, 2014 | |||||||||
| Assets | |||||||||||
| Current assets: | |||||||||||
| Cash and cash equivalents | $ | 58,149 | $ | 56,731 | $ | 20,696 | |||||
| Short-term investments, available-for-sale | 26,797 | 16,638 | 48,399 | ||||||||
| Accounts receivable, net | 41,766 | 41,561 | 18,523 | ||||||||
| Inventory | 36,265 | 38,822 | 10,858 | ||||||||
| Prepaid expenses and other current assets | 4,500 | 5,297 | 2,438 | ||||||||
| Total current assets | 167,477 | 159,049 | 100,914 | ||||||||
| Property and equipment, net | 20,543 | 23,123 | 12,441 | ||||||||
| Long-term investments, available-for-sale | 19,847 | 8,706 | 10,256 | ||||||||
| Intangible assets, net | 79,655 | 93,377 | 10,386 | ||||||||
| Goodwill | 49,373 | 48,888 | 1,201 | ||||||||
| Other long-term assets | 5,715 | 6,158 | 513 | ||||||||
| Total assets | $ | 342,610 | $ | 339,301 | $ | 135,711 | |||||
| Liabilities and stockholders’ equity | |||||||||||
| Current liabilities | $ | 67,485 | $ | 74,236 | $ | 33,246 | |||||
| Other long-term liabilities | 10,597 | 10,723 | 3,363 | ||||||||
| Total stockholders’ equity | 264,528 | 254,342 | 99,102 | ||||||||
| Total liabilities and stockholders’ equity | $ | 342,610 | $ | 339,301 | $ | 135,711 | |||||
MAXLINEAR, INC.
UNAUDITED RECONCILIATION OF NON-GAAP ADJUSTMENTS
(in thousands, except per share data)
| Three Months Ended | |||||||||||
| September 30, 2015 | June 30, 2015 | September 30, 2014 | |||||||||
| GAAP net income (loss) | $ | 1,582 | $ | (30,647 | ) | $ | (3,205 | ) | |||
| Stock-based compensation: | |||||||||||
| Cost of net revenue | 73 | 61 | 35 | ||||||||
| Research and development | 3,496 | 3,053 | 2,574 | ||||||||
| Selling, general and administrative | 1,442 | 1,680 | 1,393 | ||||||||
| Total stock-based compensation | 5,011 | 4,794 | 4,002 | ||||||||
| Share-based bonus plan*: | |||||||||||
| Cost of net revenue | 148 | 6 | — | ||||||||
| Research and development | 1,182 | 1,479 | 6 | ||||||||
| Selling, general and administrative | 753 | 556 | 65 | ||||||||
| Total share-based bonus plan | 2,083 | 2,041 | 71 | ||||||||
| Amortization of purchased intangible assets: | |||||||||||
| Cost of net revenue | 1,572 | 1,052 | — | ||||||||
| Research and development | 97 | 96 | — | ||||||||
| Selling, general and administrative | 12,066 | 7,985 | — | ||||||||
| Total amortization of purchased intangible assets | 13,735 | 9,133 | — | ||||||||
| Amortization of inventory step-up | 958 | 13,286 | — | ||||||||
| Acquisition and integration costs | 32 | 2,813 | — | ||||||||
| Restricted merger proceeds | 209 | 208 | — | ||||||||
| Change in fair value of contingent consideration | 9 | 51 | — | ||||||||
| Severance charges | 443 | 38 | — | ||||||||
| Restructuring charges | 425 | 11,389 | — | ||||||||
| Impairment of production masks | 153 | — | — | ||||||||
| IP litigation costs, net | 144 | 364 | 876 | ||||||||
| Release of valuation allowance due to net deferred tax liability acquired | 341 | (1,933 | ) | — | |||||||
| Non-GAAP net income | $ | 25,125 | $ | 11,537 | $ | 1,744 | |||||
| Shares used in computing non-GAAP basic net income per share | 60,644 | 52,586 | 36,901 | ||||||||
| Shares used in computing GAAP diluted net income (loss) per share | 63,209 | 52,586 | 36,901 | ||||||||
| Dilutive common stock equivalents | — | 2,536 | 2,357 | ||||||||
| Shares used in computing non-GAAP diluted net income per share | 63,209 | 55,122 | 39,258 | ||||||||
| Non-GAAP basic net income per share | $ | 0.41 | $ | 0.22 | $ | 0.05 | |||||
| Non-GAAP diluted net income per share | $ | 0.40 | $ | 0.21 | $ | 0.04 | |||||
