Tel: 949-333-0080 MAXLINEAR AND SILICON MOTION URGE INVESTORS AND SECURITY HOLDERS TO READ THE REGISTRATION STATEMENT ON FORM S-4 AND OTHER DOCUMENTS PROVIDED TO SILICON MOTION SECURITY HOLDERS FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY BECAUSE THEY CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION. So, you want to look at broadband in two categories, right? 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 we believe are not indicative of our core operating results. MaxLinear announces Q3 2022 earnings conference call to occur on Tuesday, October 25, 2022, at 1:30 pm PDT / 4:30pm EDT. 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. 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 and our future financial performance and operating results forecasts generally. Forward-looking statements are based on managements current, preliminary expectations and are subject to various risks and uncertainties. I think the connectivity and -- the connectivity and broadband area, there is inventory in the first half of the year that we got to work through, and that will be a headwind. These non-GAAP measures are not in accordance with and do not serve as an alternative for GAAP. Our gross inventory turns were 2.6 times essentially flat with the previous quarter. Markets Brief: May CPI Forecasts Show Little Slowdown in Inflation. 10-K. Non-GAAP financial measures are subject to limitations, and should be read only in conjunction with the companys consolidated financial statements prepared in accordance with GAAP. I know it's pretty small, but was that just a group of engineers or care to comment on that? We had talked about that happening kind of in the first half of the year. They are the leader. There as well I think in the past you've talked about over $200 million in revenue. Lead times had been long. Sure, Alex. In connection with the proposed transaction, MaxLinear has filed with the Securities and Exchange Commission (the "SEC"), and the SEC has declared effective, a Registration Statement on Form S-4 (File No. MaxLinear, Inc. Announces Conference Call to Review Third Quarter 2022 So, look, as we look at Q1, you have your standard payroll tax increases that you bump up in Q1. Non-GAAP diluted earnings per share was $1.05, compared to diluted earnings per share of $1.11 in the prior quarter, and diluted earnings per share of $0.75 in the year-ago quarter. In this context, we are excited about the solid market traction we have with our industry leading integrated PON and 10 gigabyte fiber processor gateway solution. Do you expect -- I mean -- and do you expect potential for much movement? We're wrestling with that. GAAP diluted earnings per share was $0.38, compared to diluted earnings per share of $0.35 in the prior quarter, and diluted earnings per share of $0.35 in the year-ago quarter. MaxLinear, Inc. Announces First Quarter 2023 Financial Results [Operator Instructions]. These supplemental measures exclude the effects of (i) stock-based compensation expense; (ii) accruals related to our performance based bonus plan for 2022, which we currently intend to settle in shares of our common stock; (iii) accruals related to our performance-based bonus plan for 2021, which we settled in shares of common stock in 2022; (iv) amortization of purchased intangible assets; (v) research and development funded by others; (vi) acquisition and integration costs related to our acquisitions; (vii) professional fees and settlement costs related to IP and commercial litigation matters; (viii) severance and other restructuring charges; (ix) other non-recurring interest and other income (expenses), net attributable to acquisitions and (x) non-cash income tax benefits and expenses. Steven Litchfield And our next question comes from Quinn Bolton of Needham & Company. So it really sets up a very nice 2024. Thanks for asking the question. MaxLinear is headquartered in Carlsbad, California. And the big victory is this Tier 1 operator in North America that the ramp has started. I mean, definitely, in some of the markets like cable, we have a higher attach rate, but we've definitely got much more room to go and Wi-Fi 7 really gives us the ability to go up and get that. According to MarketsandMarkets, the industrial communication market size is projected to reach $26.8 billion by 2027, growing at a CAGR of 7.4% during the forecast period. MaxLinear was founded in 2003 and is headquartered in Carlsbad, Calif. DOCSIS, MoCA and G.hn solutions that enable bandwidth expansion into and throughout the home, Solutions for 4G and 5G wireless, enterprise, 400Gbps optical and multi-gigabit communication networks, Power Management and Interface products that address industrial and multi-market applications, MaxLinear, Inc.
So, on the Wi-Fi side, I mean we had an incredible year. We compensate for the limitations of non-GAAP financial measures by relying upon GAAP results to gain a complete picture of our performance. So, I think that the various hyperscalers ramp into the 800 gig PAM4 or 400 gig PAM4 or 2 by 400 gig PAM4 or even 2 times into 1.6 terabit PAM4, it depends. But I don't know that we're not there with a breakout yet much higher, just kind of given some of the industry dynamics, but then also getting the cost structure in line from our standpoint, right? Kishore thanks for all that. MaxLinear is headquartered in Carlsbad, California. Importantly in the fiber PON market, we have relatively small market share today and expected continue share gains in the coming years with our unique product and technology differentiation. In Q4 cash flow generated from operating activities was $69.4 million. Lastly, we expect our industrial multi markets revenue to be down quarter-over-quarter. And there are no further questions at this time. 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. MaxLinear Sees Revenue Below Estimates - Earnings Whispers Wi-Fi 7 being a big catalyst for the refresh in the DOCSIS. Our focus on reliability, robustness, and interoperability makes this family well suited for a broad range of applications in demanding environments.. Public Relations So, I would expect it to come down slightly in Q2 and then down the rest of the year, really acknowledging the market environment that we're in right now. Now the capacity is available, but there is a gestation cycle to ramping up product because we've got other alternatives that we're calling, and we don't want to stop that in between. MaxLinear is headquartered in Carlsbad, California. For more information, please visit www.maxlinear.com. GAAP income from operations was 18% of revenue, compared to income from operations of 14% in the prior quarter, and income from operations of 10% in the year-ago quarter. We expect our Q1 GAAP and non-GAAP interest and other expense to be roughly $4 million, and we expect our Q1 GAAP and non-GAAP diluted share count of $81 million to $83 million. With regard to the ASP pressure, as you know, I mean, most of our business doesn't have -- isn't really subjected to a lot of ASP pressure. Cautionary Note Concerning Forward-Looking Statements. Actually, there's quite a bit of a froth from all these operators, et cetera, where there's RFPs out there for next-generation platform design-ins. 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 multimarket applications. Is Walmart Stock a Buy, Sell, or Fairly Valued After Earnings? So, while I do not expect the correction to complete in the first half of 2023, we're projecting far out into the second half of that is very difficult. More information on these and other risks is outlined in the risk factor section of our recent SEC filings, including our Form 10 for the year ended December 31st, 2022, which we filed today. In addition to these risks and uncertainties, investors should review the risks and uncertainties contained in MaxLinear's filings with the United States Securities and Exchange Commission . I assume there's probably some in industrial and multi-market. Yeah. Internet Explorer presents a security risk. Hey, Quinn, it's -- this is -- it's a very difficult question you're asking. So, the FX are more limited. Bonuses under our executive and non-executive bonus programs have been excluded from our non-GAAP net income for all periods reported. Thank you. The Susquehanna Twelfth Annual Technology Conference in New York; the 35th Annual ROTH Conference in Dana Point, California; the Loop Capital Markets 2022 Investor Conference on March 14; and the William Blair Seventh Annual Tech Innovators Conference in March 15. I think there's clearly some inventory in the channel that the industry is going to have to work through. And now, of course, that sort of catches up with you when the demand now declines, right? Develop and improve features of our offerings. On -- with regards to sort of customer verticals, is there anything interesting to glean there from a demand perspective? MaxLinear, Inc. Announces Financial Conference Participation for the But so that's kind of how some of the inventory dynamics play out. This press release contains statistical data, estimates and forecasts that are based on independent industry publications or other publicly available information. Hi, guys. To ensure the most secure and best overall experience on our website, we recommend the latest versions of, Deutsche Bank Tech Conference on August 31, 2022 in Las Vegas, Wells Fargo Leveraged Finance Conference on September 8, 2022 in Nashville. Thanks. You saw a big pickup in our results in Q4. MaxLinear, Inc. (NASDAQ:MXL) is a leading provider of radio frequency (RF), analog, digital and mixed-signal integrated circuits for access and connectivity, wired and wireless infrastructure,. And I think with some of the supply chain dynamics, a lot of our customers and their customers naturally have ordered up ahead of that. Accordingly, we make no representations as to the accuracy or completeness of that information nor do we undertake to update such information after the date of this press release. We're continuing to see ASP increases, and so we're working very hard to get there. Turning to broadband. Please state your question. Infrastructure performance was in line with our expectations as a result of ongoing supply constraints in substrates throughout 2022. The following factors, among others, could cause actual results to differ materially from those described in the forward-looking statements: the challenges and costs of integrating, restructuring, and achieving anticipated synergies following the acquisition; the ability to retain key employees, customers and suppliers; substantial competition in the home gateway platform market; risks and uncertainties arising from the global Covid-19 pandemic; and other factors affecting the business, operating results, and financial condition of either MaxLinear or the acquired business, including those set forth in MaxLinears most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K, as applicable, as filed with the Securities and Exchange Commission (the SEC). The new family again expands MaxLinears serial transceiver portfolio and builds on more than 40 years of designing leading industrial communications solutions. If I could just zoom into your broadband business a little bit more. Non-GAAP gross margin was 59.6%. I'll hand it over to Dr. Kishore Seendripu for closing remarks. In 2022, we also significantly advanced our technology platform and expanded our product portfolio offerings. GAAP interest and other expense during the quarter was $0.5 million and non-GAAP interest and other expense was $0.4 million. Fiber side is a continuing growth storey with share gains and content expansion. Thank you. How we use your information depends on the product and service that you use and your relationship with us. A question-and-answer session will follow the formal presentation. Unless otherwise indicated, all forward looking statements are based on estimates, projections, and assumptions . And that's the one I am sort of keeping an eye out fall. In high speed optical data inter interconnect, we have a leading strategic position with our second generation and industries only finite CMOS, 400 gigabit and 800 gigabit PAM4 for production ready silicon. And the Wi-Fi 7 design assignments, allocation have not yet happened yet. Thank you, Diego and good afternoon everyone and thank you for joining us on today's conference call to discuss MaxLinear's fourth quarter 2022 financial results. How should we think about that trending throughout 2023? Having said that, so -- and everybody is different in the time line with some of our leaders, some are followers. These forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially from any future results expressed or implied by these forward-looking statements. Our equity incentive plans are important components of our employee incentive compensation arrangements and are reflected as expenses in our GAAP results. Thank you. Appreciate the color. Any forward-looking statements are made as of today, and MaxLinear has no obligation to update or revise any forward-looking statements. We are winning designs globally beyond North America, along with significant silicon content expansion from our Wi-Fi, Ethernet, power management, and more. I don't know about specific customers. And the ASP pressures in our business really there's a lot of inventory in the channel, like in the broadband side. And so, we're really wrestling with kind of where everything shakes out. 3 Reasons for Investors to Like the MaxLinear-Silicon Motion Deal Our equity incentive plans are important components of our employee incentive compensation arrangements and are reflected as expenses in our GAAP results. Cost structure is much lower. Announces Conference Call to Review First Quarter 2015 Financial Results Thursday, April 30, 2015 at 1:30 p.m. Pacific Time; 4:30 p.m. Eastern Time Posted By MaxLinear on April 13, 2015 Yeah. This press release features multimedia. Research and development funded by others represents proceeds received under contracts for jointly funded R&D projects to develop technology that may be commercialized into a product in the future. It's very cloudy, but I'm optimistic as everybody else that things will revert back in time by the time we close out 2023, right? MXL is MaxLinears registered trademark. We revolutionize how people connect - driving faster, smarter networks - through engineering innovation. I guess, the way I would describe it, I mean we were really planning to catch up throughout the year. Apr 22, 2022 10:54AM EDT MaxLinear, Inc. MXL is scheduled to report first-quarter 2022 results on Apr 27. Thank you very much. And that's one thing we've always done very well throughout our existence as a public company, and we will continue to do that. How you're doing? And is there still a shortage going on there? Yeah. MaxLinear : Investor Presentation | MarketScreener And so, there is no such what I call slack fest in the non-consumer markets, and we are not in the consumer markets, per se. Pricing does not change how much you can ship because it's built up in the channel. The new line of transceivers ensures that the backbone of intelligence in modern industrial systems, connectivity, becomes the strongest link in the communications system. MaxLinear, Inc. ( NASDAQ: MXL) Q1 2023 Results Conference Call April 26, 2023 4:30 PM ET Company Participants Leslie Green - Investor Relations Kishore Seendripu - CEO Steve Litchfield - CFO. International: 1-201-493-6798. Do you expect that to be the case this time around? That concludes today's conference. Thank you. And then also some of the additional third-party router revenues that I think we were anticipating in the first half, really, both of them come down a fair amount, and so moderate a bit, but we are excited about that particular business from a diversified revenue stream. MaxLinear : Conference Call Presentation Q3 2022 | MarketScreener I know you've got a Tier 1 operator here this is in North America. MaxLinear, Inc. (MXL) Q1 2023 Earnings Call Transcript Other trademarks appearing herein are the property of their respective owners. Hi. Investors and security holders are able to obtain the Registration Statement on Form S-4 free of charge at the SEC's website, www.sec.gov. Terms of Use. And then lastly, Kishore or Steve, if you guys want to take a shot at this, we don't need specific numbers, but maybe looking out over the full year for 2023. Management believes it is not probable that it will trigger such conditions. MaxLinear, Inc. Press Contact: Transparency is how we protect the integrity of our work and keep empowering investors to achieve their goals and dreams. MaxLinear (MXL) to Report Q1 Earnings: What's in the Cards? This press release contains forward-looking statements within the meaning of federal securities laws. As an update to the original expectation, based on the improving strength in the business, MaxLinear now expects to initially add approximately $80 million to $90 million in quarterly revenue from the acquisition, in the first full quarter post close. I think that definitely improves. And can you give us any sense do you think the second half of the year you start to come back to consumption levels or could the inventory burn potentially last into the second half of 2023? So that's encouraging. We are providing this information because management believes it to be useful to investors as it reflects how management measures our business. Si vous souhaitez personnaliser vos choix, cliquez sur Grer les paramtres de confidentialit. Acquisition and integration cost of $1.1 million and amortization of purchase intangible assets of $1.3 million. Thanks. lgreen@maxlinear.com. Our products enable next-generation products in diversifiedmarkets, including Broadband Access, Connectivity, Infrastructure, and Industrial and Multi-Market. For complete information regarding our financials, see our periodic filings. Available in industry standard package and pinout, the new transceivers cover a broad range of applications within industrial connectivity and smart manufacturing, including factory automation, robotics, motor drives, building automation, security, HVAC and solar, textiles, point-of-sale, and many more. 1:30 p.m. Pacific Time / 4:30 p.m. Eastern Time, Kishore Seendripu, Ph.D., Chief Executive Officer and We currently expect revenue in the first quarter of 2023 to be between $240 million and $260 million. CARLSBAD, Calif.--(BUSINESS WIRE)--MaxLinear, Inc. (NASDAQ: MXL), a leading provider of radio frequency (RF), analog, digital and mixed-signal integrated circuits, announced today that it will release its financial results for the third quarter 2022 after the close of market on Tuesday, October 25, 2022. So, just to follow on that, Suji. Cautionary Note About Forward-Looking Statements. So, Tore, we are speaking of the cable side here. 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 May 10, 2023 . So, I would say if you want to really identify where the froth and momentum is in fiber, in terms of design win, what we call at play and their wireless infrastructure in the transport side, which is all these multi-band backhauls and transports, millimeter wave and microwave and then on the optical side, there is some -- quite a bit of conversations and design win battles about next-generation technologies. So, even those are in the mix, but you know how that world works out, right? And if they were to move, what would be the thing? 333-265645), that includes a proxy statement of Silicon Motion and a prospectus of MaxLinear. GAAP gross margin of approximately 55.5% to 58.5%; Non-GAAP gross margin of approximately 59% to 62%; GAAP operating expenses of approximately $114 million to $120 million; Non-GAAP operating expenses of approximately $77 to $83 million; and. Cautionary Note Concerning Forward-Looking Statements. CARLSBAD, Calif.-- (BUSINESS WIRE)-- MaxLinear, Inc. (Nasdaq: MXL), a leading provider of RF, analog, digital and mixed-signal integrated circuits, today announced financial results for the third quarter ended September 30, 2022. Additional risks and uncertainties affecting our business, future operating results and financial condition include, without limitation, risks relating to our proposed merger with Silicon Motion and the risks related to increased indebtedness; the effect of intense and increasing competition; impacts of a global economic downturn and high inflation; our ability to obtain government authorization to export certain of our products or technology; the political and economic conditions of the countries in which we conduct business and other factors related to our international operations; increased tariffs or imposition of other trade barriers; risks related to international geopolitical conflicts; risks related to the loss of, or a significant reduction in orders from major customers; a decrease in the average selling prices of our products; failure to penetrate new applications and markets; development delays and consolidation trends in our industry; inability to make substantial research and development investments; a significant variance in our operating results or rates of growth; claims of intellectual property infringement; our ability to protect our intellectual property; and a failure to manage our relationships with, or negative impacts from, third parties.
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