MAXLINEAR, INC

Listed Company

MXLCIK 0001288469NasdaqLarge AcceleratedSemiconductors & Related DevicesFY ends Dec 31

Period

FY 2025

Revenue

$467.64M

Net Income

$-136.68M

Total Assets

$796.40M

Equity

$451.89M

Shares Out

89.55M

Op. Cash Flow

$19.62M

Business

MAXLINEAR, INC is a fabless semiconductor company that designs and supplies communications systems-on-chip (SoCs) for broadband, mobile and wireline infrastructure, data center, and industrial applications. It offers integrated RF, analog and mixed-signal transceiver front ends, high-performance digital signal processing ASICs, embedded processors and platform software, data converters, interface and power management products, and related IP and turnkey goods. The company organizes around its RF/mixed-signal and digital SoC platform solutions across markets such as data center interconnects, 5G wireless access and backhaul, broadband access, connectivity, and industrial/multi-market applications. It sells worldwide through direct sales, third-party representatives and a network of domestic and international distributors, with significant shipments to Asia.

Summary from filing dated 2025-01-29

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net revenue	468	361	693	1,120	892
Cost of net revenue	202	166	308	470	397
Gross profit	266	195	386	650	496
Research and development	209	225	270	296	278
Selling, general and administrative	160	138	132	168	150
Impairment losses	0	1	2	3	0
Restructuring charges	25	53	20	2	2
Total operating expenses	393	418	424	470	431
Loss from operations	−127	−223	−38	180	65
Interest income	3	6	6	245,000	78,000
Interest expense	−10	−11	−11	−10	—
Other expense, net	−7	−11	−21	3	764,000
Total other income (expense), net	−14	−15	−26	−6	−17
Loss before income taxes	−141	−239	−64	174	48
Income tax provision (benefit)	−4	7	9	49	6
Net loss	−137	−245	−73	125	42
Basic ( in usd per share)	−1.58	−2.93	−0.91	1.6	0.55
Diluted (in usd per share)	−1.58	−2.93	−0.91	1.55	0.53
Basic (in shares)	87	84	81	78	76
Diluted (in shares)	87	84	81	81	80

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	73	119	187	187	131
Short-term restricted cash	1	1	1	982,000	105,000
Accounts receivable, net	46	85	171	171	120
Inventory	78	90	100	161	132
Prepaid expenses and other current assets	50	28	29	25	22
Total current assets	249	323	488	563	404
Long-term restricted cash	27	25,000	17,000	22,000	1
Property and equipment, net	49	59	66	79	61
Leased right-of-use assets	16	18	31	29	27
Intangible assets, net	49	55	74	109	153
Goodwill	319	319	319	307	307
Deferred tax assets	77	69	69	66	89
Other long-term assets	11	21	33	27	9
Total assets	796	865	1,080	1,180	1,050
Accounts payable	38	31	22	69	53
Accrued price protection liability	27	43	72	113	41
Accrued expenses and other current liabilities	72	87	98	100	57
Accrued compensation	49	20	30	59	57
Total current liabilities	186	182	222	341	207
Long-term lease liabilities	12	17	26	23	25
Long-term debt	124	123	122	122	306
Other long-term liabilities	23	26	23	17	23
Total liabilities	345	348	394	504	561
Commitments and contingencies	—	—	—	—	—
Preferred stock, $0.0001 par value; 25,000 shares authorized, no shares issued or outstanding	0	0	0	0	0
Common stock, $0.0001 par value; 550,000 shares authorized; 86,451 shares issued and outstanding at December 31, 2025 and 84,613 shares issued and outstanding December 31, 2024	9,000	8,000	8,000	8,000	8,000
Additional paid-in capital	951	887	809	723	657
Accumulated other comprehensive income (loss)	1	−7	−4	−1	2
Accumulated deficit	−500	−364	−119	−45	−170
Total stockholders equity	452	516	686	676	489
Total liabilities and stockholders equity	796	865	1,080	1,180	1,050

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Amortization and depreciation	44	54	72	81	92
Impairment of investments and other assets	700,000	14	0	0	—
Amortization of debt issuance costs and accretion of discounts	2	3	3	2	3
Stock-based compensation	77	66	55	82	59
Deferred income taxes	−9	826,000	−4	23	−3
Loss on disposal of property and equipment	1	1	2	170,000	533,000
Gain on sale of investments	0	0	−434,000	−3	0
Unrealized holding loss on investments	0	0	2	1	0
Impairment of leased right-of-use assets	427,000	6	0	462,000	400,000
Gain on settlement of pension	0	0	−1	0	0
Gain on extinguishment of lease liabilities	−521,000	−555,000	0	0	0
(Gain) loss on foreign currency and other	6	−1	2	−2	634,000
Excess tax (benefits) deficiencies on stock-based awards	4	3	−253,000	−10	−7
Accounts receivable, net	39	85	1	−51	−52
Inventory	12	10	61	−29	−34
Prepaid expenses and other assets	−12	−2	−9	2	24
Accounts payable, accrued expenses and other current liabilities	−12	−5	−29	66	13
Accrued compensation	35	919,000	10	42	34
Accrued price protection liability	−17	−28	−42	74	—
Lease liabilities	−11	−11	−12	−11	−10
Other long-term liabilities	−3	3	5	−6	8
Net cash provided by (used in) operating activities	20	−45	43	389	168
Purchases of property and equipment	−13	−18	−13	−41	−39
Purchases of intangible assets	−7	−6	−6	−11	−8
Cash used in acquisition, net of cash acquired	0	0	−13	0	−40
Sale of trading securities	0	0	17	0	0
Net cash used in investing activities	−20	−23	−16	−92	−92
Payment of debt issuance cost	0	0	−18	0	−4
Net proceeds from issuance of common stock	4	4	5	5	9
Minimum tax withholding paid on behalf of employees for restricted stock units	−2	−3	−13	−29	−13
Repurchase of common stock	−20	0	0	−32	−24
Net cash provided by (used in) financing activities	−19	1	−26	−240	−92
Effect of exchange rate changes on cash and cash equivalents	644,000	−1	−1	56,000	−3
Increase (decrease) in cash, cash equivalents and restricted cash	−18	−69	−1,000	57	−18
Cash paid for interest	9	10	9	9	11
Cash paid for income taxes	6	8	29	24	4
Cash received for dividend income on investments	0	0	716,000	0	0
Issuance of shares for payment of bonuses	6	11	39	39	24

Filings

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