MaxLinear Announces Third Quarter 2020 Preliminary Financial Results Exceeding Prior Expectations

MaxLinear, Inc. (NYSE: MXL), a leading provider of radio frequency (RF), analog, digital and mixed-signal integrated circuits, today announced preliminary results for the third quarter 2020.

“During the third quarter, our business improved significantly with greater-than-expected revenues driven by strong demand in the broadband data access market, as well as market share gains across multiple product lines. We are benefiting from the work-from-home environment that is driving a noticeable inflection in demand for access data bandwidth and its in-home distribution utilizing multigigabit Wi-Fi. Our infrastructure business also saw meaningful quarterly improvements, which supports our positive outlook on new product ramps that are in the early stages of deployment,” commented Kishore Seendripu, Ph.D., Chairman and CEO.

“MaxLinear realized partial quarter contribution from the acquisition of Intel’s Home Gateway Platform Division, which has exceeded our prior expectations of revenue driven by market share gains and the continuing work-from-home dynamics. We have taken expeditious actions to improve the overall profitability and focus of the business which bodes well for continued future success. Additionally, our NanoSemi acquisition, which closed on September 9^th, will bolster MaxLinear’s 5G wireless infrastructure product offerings and strengthen our competitive positioning going into 2021. Overall, we are confident that the company is on track to exceed our prior expectations primarily due to new product cycles, market share gains in our broadband business, and disciplined expense management,” continued Dr. Seendripu.

$ in millions (unless otherwise noted)		Q3 2020 Guidance*				Preliminary Results Q3 2020
		GAAP		Non-GAAP		GAAP		Non-GAAP
Revenue		$72.0M - $76.0M		$72.0M - $76.0M