NYSE$MXL

MaxLinear Inc · Q4 2019 earnings

Q4 2019 earnings · · Investor relations

Briefing

Revenue decreased, gross margin remained strong, and operating expenses declined due to continued discipline.

MaxLinear reported Q4 2019 financial results with revenue in line with guidance, strong gross margin, and decreased operating expenses. The company delivered strong cash flow from operations and secured a new design-win for its 5G Wireless radio transceiver.

  • Net revenue was $70.0 million, down 12% sequentially and 20% year-on-year.
  • GAAP gross margin was 52.3%.
  • GAAP operating expenses were $44.6 million, or 64% of net revenue.
  • Non-GAAP diluted earnings per share was $0.16.

Headline financials

Total Revenue

$70M

Previous: $87.6M-20.1%
EPS (adj)

$0.16

Previous: $0.20-20.0%
Capital Expenditures

$2.99M

Previous: $1.41M+111.7%
Free Cash Flow

$25.1M

Previous: $22.8M+10.4%
Net Income

-$8.1M

Previous: $311K-2705.8%
Operating Income

-$7.93M

Previous: -$10.7M+26.0%
Gross Profit

$36.6M

Previous: $45.9M-20.2%
Cash & Equivalents

$92.7M

Previous: $73.1M+26.8%
Total Assets

$706M

Previous: $744M-5.1%
Stock-Based Comp

$7.75M

Previous: $8M-3.2%

Revenue & EPS history

MaxLinear · Revenue · Quarterly

$70M

Q4 2019-20.1%vs Q4 2018
Beat estimate in 16 of 16 quarters(100%)
ActualEstimate

Forward guidance

The company expects revenue in the first quarter 2020 to be approximately $65 million to $70 million. The Company also estimates the following:•GAAP gross margin of approximately 53.5% to 54.0%; •Non-GAAP gross margin of approximately 63.5% to 64.0%;•GAAP operating expenses of approximately $46.5 million to $47.5 million; and•Non-GAAP operating expenses of approximately $32.0 million to $32.5 million.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q4 2019

Historical avgQ4 2019

-1.2%

Avg return

Earnings day

-1.1%

Avg return

5 days after

+2.2%

Avg return

30 days after

42%

27 / 65 earnings

Positive

+27.6%

Q3 2015

Best reaction

-40.3%

Q2 2024

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+2.1%+97.1%+189.5%
Q4 2025-10.4%-10.6%-9.5%
Q3 2025-10.7%-13.2%-22.4%
Q2 2025-1.6%-8.2%+1.4%
Q1 2025-12.4%-8.7%+5.1%
Q3 2024+4.1%+7.9%+7.2%
Q2 2024-40.3%-41.4%-45.7%
Q1 2024-0.5%+1.9%-11.3%
Q4 2023-13.9%-17.2%-5.6%
Q3 2023-26.2%-23.1%-7.3%
Q2 2023-33.7%-27.4%-35.2%
Q1 2023-17.2%-16.1%+1.6%
Q4 2022-0.1%-5.7%-15.1%
Q3 2022-1.8%+0.0%+13.6%
Q2 2022+1.5%+3.9%-0.5%
Q1 2022+14.9%+15.8%-9.0%
Q4 2021+0.2%+0.4%-6.9%
Q3 2021+16.2%+26.7%+27.1%
Q2 2021+16.4%+17.2%+28.2%
Q1 2021-1.8%-8.7%-3.4%
Q4 2020+0.2%+1.7%+3.9%
Q3 2020-1.5%-7.9%+14.7%
Q2 2020-1.3%-6.2%-4.5%
Q1 2020+0.1%-4.9%+5.2%
Q4 2019-4.3%-3.9%-25.2%
Q3 2019-14.1%-10.6%-8.7%
Q2 2019-10.8%-14.2%-24.8%
Q1 2019-6.8%-3.4%-21.3%
Q4 2018+11.1%+10.1%+23.1%
Q3 2018+21.8%+27.4%+26.7%
Q2 2018+2.1%+6.3%+6.8%
Q1 2018-21.0%-20.8%-16.1%
Q4 2017-8.0%-9.3%-1.5%
Q3 2017+7.4%+5.8%+1.8%
Q2 2017-8.2%-12.1%-9.9%
Q1 2017+7.0%+11.8%+14.2%
Q4 2016+0.6%+1.2%+0.0%
Q3 2016+12.2%+12.1%+8.9%
Q2 2016-19.7%-16.2%-9.5%
Q1 2016+12.8%
Q4 2015+5.3%
Q3 2015+27.6%
Q2 2015-6.8%
Q1 2015+3.8%
Q4 2014-2.4%
Q3 2014+1.6%
Q2 2014-11.3%
Q1 2014+12.7%
Q4 2013-3.4%
Q3 2013-3.1%
Q2 2013+15.6%
Q1 2013+0.0%
Q4 2012+17.6%
Q3 2012-9.3%
Q2 2012+24.1%
Q1 2012+6.0%
Q1 2011+6.0%
Q2 2011-0.2%
Q4 2011-0.2%
Q4 2009-0.2%
Q3 2010-3.4%
Q3 2011-3.4%
Q2 2010-4.6%
Q4 2010-4.6%
Q1 2010-9.3%

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