MaxLinear, Inc. Announces Second Quarter 2022 Financial Results

  • Record net revenue of $280.0 million, up 6% sequentially and up 36% year-over-year
  • GAAP gross margin 58.7% and non-GAAP gross margin 62.3%, up 10 bps and -50 bps from previous quarter, respectively

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 second quarter ended June 30, 2022.

Second Quarter Financial Highlights

GAAP basis:

  • Net revenue was $280.0 million, up 6% sequentially and up 36% year-over-year.
  • GAAP gross margin was 58.7%, compared to 58.6% in the prior quarter, and 54.8% in the year-ago quarter.
  • GAAP operating expenses were $125.3 million in the second quarter 2022, or 45% of net revenue, compared to $106.5 million in the prior quarter, or 40% of net revenue, and $110.3 million in the year-ago quarter, or 54% of net revenue.
  • GAAP income from operations was 14% of revenue, compared to income from operations of 18% in the prior quarter, and income from operations of 1% in the year-ago quarter.
  • Net cash flow provided by operating activities was $123.4 million, compared to net cash flow provided by operating activities of $134.2 million in the prior quarter, and net cash flow provided by operating activities of $7.9 million in the year-ago quarter.
  • GAAP diluted earnings per share was $0.40, compared to diluted earnings per share of $0.42 in the prior quarter, and diluted earnings per share of $0.01 in the year-ago quarter.

Non-GAAP basis:

  • Non-GAAP gross margin was 62.3%. This compares to 62.8% in the prior quarter, and 60.2% in the year-ago quarter.
  • Non-GAAP operating expenses were $84.3 million, or 30% of revenue, compared to $77.3 million or 29% of revenue in the prior quarter, and $75.2 million or 37% of revenue in the year-ago quarter.
  • Non-GAAP income from operations was 32% of revenue, compared to 33% in the prior quarter, and 24% in the year-ago quarter.
  • Non-GAAP diluted earnings per share was $1.11, compared to diluted earnings per share of $1.00 in the prior quarter, and diluted earnings per share of $0.53 in the year-ago quarter.

Management Commentary

“In the second quarter, revenue was up 6% sequentially and up 36% year-over-year, as a result of strong demand across all our product portfolio. In particular, fiber gateway access, Wi-Fi, and wireless infrastructure continue to drive solid revenue expansion. Our connectivity category was up nearly 80% year-over-year, driven by our differentiated Wi-Fi6 feature set, and we are on a firm trajectory to deliver at least $200 million of Wi-Fi revenue in 2023. We saw strong cash flow from operations of approximately $123.4 million in Q2 and non-GAAP gross margin of 62.3%. We are excited about our pending merger with Silicon Motion, the future growth opportunities of our comprehensive product portfolio, and the accelerating pace of new product launches,” commented Kishore Seendripu, Ph.D., Chairman and CEO.

Third Quarter 2022 Business Outlook

The company expects revenue in the third quarter 2022 to be approximately $280 million to $290 million. The Company also estimates the following:

  • GAAP gross margin of approximately 57.5% to 60.5%;
  • Non-GAAP gross margin of approximately 60.5% to 63.5%;
  • GAAP operating expenses of approximately $115 million to $121 million;
  • Non-GAAP operating expenses of approximately $81 million to $87 million; and
  • GAAP and non-GAAP interest and other expense of approximately $3.5 million.

Webcast and Conference Call

MaxLinear will host its second quarter financial results conference call today, July 27, 2022 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 August 11, 2022. A replay of the conference call will also be available until August 11, 2022 by dialing US toll free: 1-877-660-6853 / International: 1-201-612-7415 and Conference ID#: 13731843.

Cautionary Note Concerning Forward-Looking Statements

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 third quarter 2022 revenue, gross margins, operating expenses, and interest and other expenses, as well as statements with respect to confidence in the Company’s outlook for third quarter 2022) and statements concerning expectations of potential developments in our target markets, including (without limitation) management’s views with respect to the prospects for and trends in our broadband, connectivity and infrastructure markets, and in particular, expectations concerning the development of our Wi-Fi market, including the Company’s ability to continue to increase market share and drive future growth opportunities in such market. 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. 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. In particular, our future operating results are substantially dependent on our assumptions about market trends and conditions. 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; intense competition in our industry; increasing supply chain risks within our industry, including increases in shipping and material costs and substantial shipping delays resulting in extended lead-times; inflation trends in our supply chain and in the global economy generally; uncertainties concerning the outcome of global trade negotiations, export control limitations, and heightened geopolitical risks generally; our dependence on a limited number of customers for a substantial portion of our revenues; potential decreases in average selling prices for our products; 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 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; uncertainties concerning how end user markets for our products will develop, including in particular markets we have entered more recently such as broadband, Wi-Fi and 5G wireless and fiber-optic data center high-speed interconnect infrastructure markets but also existing markets; the impact of our indebtedness and limitations on our operating flexibility based on financial and operating covenants in the applicable term loan agreements, including (without limitation) debt covenant restrictions that may limit our ability to obtain additional financing, granting liens, undergoing certain fundamental changes, or making investments or certain restricted payments, and selling assets; risks relating to intellectual property protection and the prevalence of intellectual property litigation in our industry; our reliance on a limited number of third party manufacturers; the impact of the COVID-19 pandemic; 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 Annual Report on Form 10-K for the year ended December 31, 2021 filed with the SEC on February 2, 2022, 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 Quarterly Report on Form 10-Q for the quarter ended June 30, 2022. All forward-looking statements are based on the estimates, projections and assumptions of management as of July 27, 2022, 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.

Use of Non-GAAP Financial Measures

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 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. 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 2021 performance periods were settled through the issuance of shares of common stock under our equity incentive plans in February 2022. We currently expect that bonus awards under our fiscal 2022 program will be settled in common stock in the first quarter of fiscal 2023.

Expenses incurred in relation to acquisitions include amortization of purchased intangible assets, acquisition and integration costs primarily consisting of professional and consulting fees, and accretion of discount on deferred purchase price payments to interest expense.

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. Initially such proceeds may not yet be recognized in GAAP results if, pursuant to contract terms, the Company may be required to repay all or a portion of the funds provided by the other party under certain conditions. Management believes it is not probable that it will trigger such conditions. Once such conditions have been resolved, the proceeds are recognized in GAAP results, and accordingly, reversed from non-GAAP results.

Restructuring charges incurred are related to our restructuring plans which eliminate redundancies and primarily include severance and restructuring costs related to impairment of leased right-of-use assets or from 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.

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, a quantitative reconciliation is not available without unreasonable efforts and accordingly we have not provided a reconciliation for non-GAAP guidance provided for the third quarter 2022.

Additional Information and Where to Find It

This press release makes reference to a proposed business combination involving MaxLinear and Silicon Motion. In connection with the proposed transaction, MaxLinear has filed with the Securities and Exchange Commission (the “SEC”) a Registration Statement on Form S-4 (File No. 333-265645), including a proxy statement of Silicon Motion and a prospectus of MaxLinear. The Registration Statement on Form S-4 was declared effective by the SEC on July 13, 2022 and the proxy statement/prospectus was first mailed to the shareholders of Silicon Motion on July 20, 2022, seeking their approval of their transaction-related proposals.

This press release does not constitute an offer to sell or the solicitation of an offer to buy or subscribe for any securities or a solicitation of any vote or approval nor shall there be any sale, issuance or transfer of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

MAXLINEAR AND SILICON MOTION URGE INVESTORS AND SECURITY HOLDERS TO READ THE REGISTRATION STATEMENT ON FORM S-4, WHICH WILL BE PROVIDED TO SILICON MOTION SECURITY HOLDERS AND OTHER DOCUMENTS PROVIDED TO SILICON MOTION SECURITY HOLDERS FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION.

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. Copies of documents filed with the SEC by MaxLinear (when they become available) may be obtained free of charge on MaxLinear’s website at www.maxlinear.com or by contacting MaxLinear’s Investor Relations Department at IR@MaxLinear.com. Copies of documents filed or furnished by Silicon Motion (when they become available) may be obtained free of charge on Silicon Motion’s website at https://www.siliconmotion.com or by contacting Silicon Motion’s Stock Affair Specialist.

About MaxLinear, Inc.

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 industrial and multi-market applications. MaxLinear is headquartered in Carlsbad, California. For more information, please visit www.maxlinear.com.

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

 

MAXLINEAR, INC.

UNAUDITED GAAP CONSOLIDATED STATEMENTS OF INCOME

(in thousands, except per share data)

 

 

Three Months Ended

 

June 30, 2022

 

March 31, 2022

 

June 30, 2021

Net revenue

$

280,009

 

 

$

263,927

 

 

$

205,376

 

Cost of net revenue

 

115,658

 

 

 

109,337

 

 

 

92,833

 

Gross profit

 

164,351

 

 

 

154,590

 

 

 

112,543

 

Operating expenses:

 

 

 

 

 

Research and development

 

80,395

 

 

 

65,886

 

 

 

74,416

 

Selling, general and administrative

 

44,487

 

 

 

40,577

 

 

 

35,885

 

Restructuring charges

 

462

 

 

 

 

 

 

38

 

Total operating expenses

 

125,344

 

 

 

106,463

 

 

 

110,339

 

Income from operations

 

39,007

 

 

 

48,127

 

 

 

2,204

 

Interest income

 

82

 

 

 

31

 

 

 

18

 

Interest expense

 

(2,416

)

 

 

(2,349

)

 

 

(3,741

)

Loss on extinguishment of debt

 

 

 

 

 

 

 

(5,221

)

Other income (expense), net

 

7,179

 

 

 

(770

)

 

 

(537

)

Total other income (expense), net

 

4,845

 

 

 

(3,088

)

 

 

(9,481

)

Income (loss) before income taxes

 

43,852

 

 

 

45,039

 

 

 

(7,277

)

Income tax provision (benefit)

 

11,886

 

 

 

11,453

 

 

 

(8,010

)

Net income

$

31,966

 

 

$

33,586

 

 

$

733

 

Net income per share:

 

 

 

 

 

Basic

$

0.41

 

 

$

0.44

 

 

$

0.01

 

Diluted

$

0.40

 

 

$

0.42

 

 

$

0.01

 

Shares used to compute net income per share:

 

 

 

 

 

Basic

 

77,858

 

 

 

77,192

 

 

 

75,930

 

Diluted

 

80,279

 

 

 

80,641

 

 

 

79,026

 

 

MAXLINEAR, INC.

UNAUDITED GAAP CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except per share data)

 

 

 

 

 

 

 

Six Months Ended

 

 

June 30, 2022

 

June 30, 2021

Net revenue

 

$

543,936

 

 

$

414,735

 

Cost of net revenue

 

 

224,995

 

 

 

190,473

 

Gross profit

 

 

318,941

 

 

 

224,262

 

Operating expenses:

 

 

 

 

Research and development

 

 

146,281

 

 

 

137,582

 

Selling, general and administrative

 

 

85,064

 

 

 

72,354

 

Restructuring charges

 

 

462

 

 

 

2,204

 

Total operating expenses

 

 

231,807

 

 

 

212,140

 

Income from operations

 

 

87,134

 

 

 

12,122

 

Interest income

 

 

113

 

 

 

18

 

Interest expense

 

 

(4,765

)

 

 

(7,947

)

Loss on extinguishment of debt

 

 

 

 

 

(5,221

)

Other income (expense), net

 

 

6,409

 

 

 

(641

)

Total other income (expense), net

 

 

1,757

 

 

 

(13,791

)

Income (loss) before income taxes

 

 

88,891

 

 

 

(1,669

)

Income tax provision (benefit)

 

 

23,339

 

 

 

(6,204

)

Net income

 

$

65,552

 

 

$

4,535

 

Net income per share:

 

 

 

 

Basic

 

$

0.85

 

 

$

0.06

 

Diluted

 

$

0.81

 

 

$

0.06

 

Shares used to compute net income per share:

 

 

 

 

Basic

 

 

77,527

 

 

 

75,394

 

Diluted

 

 

80,462

 

 

 

78,657

 

 

 

 

 

 

MAXLINEAR, INC.

UNAUDITED GAAP CONSOLIDATED STATEMENTS OF CASH FLOWS

(in thousands)

 

 

Three Months Ended

 

June 30, 2022

 

March 31, 2022

 

June 30, 2021

Operating Activities

 

 

 

 

 

Net income

$

31,966

 

 

$

33,586

 

 

$

733

 

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

 

 

 

 

 

Amortization and depreciation

 

19,569

 

 

 

23,880

 

 

 

21,997

 

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

 

471

 

 

 

486

 

 

 

918

 

Stock-based compensation

 

19,469

 

 

 

18,554

 

 

 

13,966

 

Deferred income taxes

 

517

 

 

 

6,842

 

 

 

(6,002

)

Loss on disposal of property and equipment

 

5

 

 

 

159

 

 

 

20

 

Unrealized holding (gain) loss on investments

 

(4,813

)

 

 

954

 

 

 

 

Impairment of leased right-of-use assets

 

462

 

 

 

 

 

 

 

Loss on extinguishment of debt

 

 

 

 

 

 

 

5,221

 

(Gain) loss on foreign currency and other

 

(2,359

)

 

 

(316

)

 

 

387

 

Excess tax benefits on stock based awards

 

(2,309

)

 

 

(7,120

)

 

 

(2,822

)

Changes in operating assets and liabilities:

 

 

 

 

 

Accounts receivable

 

(11,000

)

 

 

(5,969

)

 

 

(47,800

)

Inventory

 

(7,390

)

 

 

(7,338

)

 

 

(6,254

)

Prepaid expenses and other assets

 

(1,675

)

 

 

3,503

 

 

 

3,588

 

Leased right-of-use assets

 

 

 

 

 

 

 

36

 

Accounts payable, accrued expenses and other current liabilities

 

29,669

 

 

 

32,952

 

 

 

8,652

 

Accrued compensation

 

9,118

 

 

 

12,237

 

 

 

13,857

 

Accrued price protection liability

 

42,822

 

 

 

27,975

 

 

 

(344

)

Lease liabilities

 

(2,210

)

 

 

(3,301

)

 

 

(2,345

)

Other long-term liabilities

 

1,125

 

 

 

(2,918

)

 

 

4,043

 

Net cash provided by operating activities

 

123,437

 

 

 

134,166

 

 

 

7,851

 

Investing Activities

 

 

 

 

 

Purchases of property and equipment

 

(10,706

)

 

 

(4,800

)

 

 

(11,158

)

Purchases of intangible assets

 

(567

)

 

 

(4,637

)

 

 

 

Cash used in acquisitions, net of cash acquired

 

 

 

 

 

 

 

(7,500

)

Proceeds loaned under notes receivable

 

 

 

 

(10,000

)

 

 

 

Purchases of investments

 

(5,000

)

 

 

(23,325

)

 

 

 

Net cash used in investing activities

 

(16,273

)

 

 

(42,762

)

 

 

(18,658

)

Financing Activities

 

 

 

 

 

Proceeds from the issuance of debt

 

 

 

 

 

 

 

350,000

 

Payment of debt issuance cost

 

 

 

 

 

 

 

(4,127

)

Repayment of debt

 

(40,000

)

 

 

(20,000

)

 

 

(349,813

)

Net proceeds from issuance of common stock

 

3,046

 

 

 

87

 

 

 

4,796

 

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

 

(3,698

)

 

 

(24,449

)

 

 

(2,663

)

Repurchase of common stock

 

(5,214

)

 

 

(26,297

)

 

 

(4,464

)

Net cash used in financing activities

 

(45,866

)

 

 

(70,659

)

 

 

(6,271

)

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

 

(1,132

)

 

 

(230

)

 

 

(681

)

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

 

60,166

 

 

 

20,515

 

 

 

(17,759

)

Cash, cash equivalents and restricted cash at beginning of period

 

152,253

 

 

 

131,738

 

 

 

149,193

 

Cash, cash equivalents and restricted cash at end of period

$

212,419

 

 

$

152,253

 

 

$

131,434

 

MAXLINEAR, INC.

UNAUDITED GAAP CONSOLIDATED STATEMENTS OF CASH FLOWS

(in thousands)

 

 

 

 

 

 

 

Six Months Ended

 

 

June 30, 2022

 

June 30, 2021

Operating Activities

 

 

 

 

Net income

 

$

65,552

 

 

$

4,535

 

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

 

 

 

 

Amortization and depreciation

 

 

43,449

 

 

 

44,322

 

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

 

 

957

 

 

 

2,071

 

Stock-based compensation

 

 

38,023

 

 

 

26,921

 

Deferred income taxes

 

 

7,359

 

 

 

(5,461

)

Loss on disposal of property and equipment

 

 

164

 

 

 

388

 

Unrealized holding gain on investments

 

 

(3,859

)

 

 

 

Impairment of leasehold improvements

 

 

 

 

 

226

 

Impairment of leased right-of-use assets

 

 

462

 

 

 

429

 

Loss on extinguishment of debt

 

 

 

 

 

5,221

 

(Gain) loss on foreign currency

 

 

(2,675

)

 

 

408

 

Excess tax benefits on stock-based awards

 

 

(9,429

)

 

 

(4,631

)

Changes in operating assets and liabilities:

 

 

 

 

Accounts receivable

 

 

(16,969

)

 

 

(67,879

)

Inventory

 

 

(14,728

)

 

 

(596

)

Prepaid expenses and other assets

 

 

1,828

 

 

 

33,448

 

Leased right-of-use assets

 

 

 

 

 

72

 

Accounts payable, accrued expenses and other current liabilities

 

 

62,621

 

 

 

6,311

 

Accrued compensation

 

 

21,355

 

 

 

15,233

 

Accrued price protection liability

 

 

70,797

 

 

 

6,955

 

Lease liabilities

 

 

(5,511

)

 

 

(4,347

)

Other long-term liabilities

 

 

(1,793

)

 

 

4,497

 

Net cash provided by operating activities

 

 

257,603

 

 

 

68,123

 

Investing Activities

 

 

 

 

Purchases of property and equipment

 

 

(15,506

)

 

 

(17,310

)

Purchases of intangible assets

 

 

(5,204

)

 

 

(1,112

)

Cash used in acquisitions, net of cash acquired

 

 

 

 

 

(27,500

)

Proceeds loaned under notes receivable

 

 

(10,000

)

 

 

 

Purchases of investments

 

 

(28,325

)

 

 

(5,000

)

Net cash used in investing activities

 

 

(59,035

)

 

 

(50,922

)

Financing Activities

 

 

 

 

Proceeds from the issuance of debt

 

 

 

 

 

350,000

 

Payment of debt issuance cost

 

 

 

 

 

(4,127

)

Repayment of debt

 

 

(60,000

)

 

 

(369,813

)

Net proceeds from issuance of common stock

 

 

3,133

 

 

 

6,094

 

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

 

 

(28,147

)

 

 

(10,105

)

Repurchase of common stock

 

 

(31,511

)

 

 

(7,137

)

Net cash used in financing activities

 

 

(116,525

)

 

 

(35,088

)

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

 

 

(1,362

)

 

 

(713

)

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

 

 

80,681

 

 

 

(18,600

)

Cash, cash equivalents and restricted cash at beginning of period

 

 

131,738

 

 

 

150,034

 

Cash, cash equivalents and restricted cash at end of period

 

$

212,419

 

 

$

131,434

 

 

 

 

 

 

Contacts

MaxLinear, Inc. Investor Relations Contact:
Leslie Green

Tel: +1 650-312-9060

lgreen@maxlinear.com

Read full story here

Artículos Relacionados