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EX - 99.1 2 a2021630exhibit991.htm EX - 99.1 ● ● Second Quarter Financial Highlights GAAP basis : ● ● Carlsbad , Calif . – July 28 , 2021 – MaxLinear , Inc. ( NYSE : MXL ) , a leading provider of RF , analog , digital and mixed - signal integrated circuits , today announced financial results for the second quarter ended June 30 , 2021 . MAXLINEAR ● FOR IMMEDIATE RELEASE MaxLinear , Inc. Announces Second Quarter 2021 Financial Results ● Net revenue of $ 205.4 million , up 215 % year - on - year GAAP gross margin 54.8 % , up 140 bps from previous quarter Non - GAAP Gross Margin of 60.2 % , up 160 bps from previous quarter , above the high - end guidance Strong Sales growth expected to continue into Q3 across all end - markets Exhibit 99.1 Net revenue was $ 205.4 million , up 215 % year - on - year . GAAP gross margin was 54.8 % , compared to 53.4 % in the prior quarter , and 50.2 % in the year - ago quarter . GAAP operating expenses were $ 110.3 million in the second quarter 2021 , or 54 % of net revenue , compared to $ 101.8 million in the prior quarter , or 49 % of net revenue , and $ 55.5 million in the year - ago quarter , or 85 % of net revenue . GAAP income from operations was 1 % of revenue , compared to income from operations of 5 % in the prior quarter , and loss from operations of 35 % in the year - ago quarter . Net cash flow provided by operating activities was $ 7.9 million , compared to net cash flow provided by operating activities of $ 60.3 million in the prior quarter , and net cash flow provided by operating activities of $ 9.3 million in the year - ago quarter . Non - GAAP basis : Non - GAAP gross margin was 60.2 % . This compares to 58.6 % in the prior quarter , and 63.7 % in the year - ago quarter . Non - GAAP operating expenses were $ 75.2 million , or 37 % of revenue , compared to $ 72.6 million or 35 % of revenue in the prior quarter , and $ 32.6 million or 50 % of revenue in the year - ago quarter . Non - GAAP income from operations was 24 % of revenue , compared to 24 % in the prior quarter , and 14 % in the year - ago quarter . Non - GAAP diluted earnings per share was $ 0.53 , compared to diluted earnings per share of $ 0.55 in the prior quarter , and diluted earnings per share of $ 0.09 in the year - ago quarter . Recent Business Highlights GAAP diluted earnings per share was $ 0.01 , compared to diluted earnings per share of $ 0.05 in the prior quarter , and diluted loss per share of $ 0.30 in the year - ago quarter . Announced showcase of industry - first 5nm CMOS 800Gbps PAM4 DSP for data center applications . Announced selection of MxL 93516 PAM4 DSP by uSenlight Corporation to deliver sub - 3.5W 100G optical modules for hyperscale data centers and wireless front haul applications Announced MaxLinear's collaboration with MACOM to assure interoperability of PAM4 DSPs and 100G / lane transimpedance amplifiers for 100G / lambda applications in data center applications . Announced partnership with Cree , Inc. combining MaxLinear's ultra - wideband linearization solution and Cree's Wolfspeed Gallium Nitride on SiC mid - band power amplifiers increasing wireless capacity of a 5G base station 1