Q3 2024 Maxlinear Inc Earnings Call Transcript
Key Points
- MaxLinear Inc (MXL) reported Q3 revenue of $81.1 million, slightly above the midpoint of their guidance.
- The company has seen meaningful improvements in customer order rates and lead times, indicating early signs of recovery.
- MaxLinear Inc (MXL) received the Best Emerging Supplier of the Year award from Cisco, highlighting strong industry recognition.
- The company is experiencing strong demand for its optical transceiver products, with a run rate exceeding 1 million units per year.
- MaxLinear Inc (MXL) is well-positioned for growth in high-value markets such as optical data center interconnect, enterprise Ethernet, and storage accelerators.
- Total revenue for the third quarter was down 12% from the previous quarter, indicating a decline in overall sales.
- Broadband revenue is expected to be slightly down in Q4, reflecting ongoing challenges in this segment.
- The company reported a GAAP operating loss, highlighting financial challenges despite revenue improvements.
- MaxLinear Inc (MXL) faced a significant impact from acquisition-related intangible asset amortization, affecting gross margins.
- The company is still experiencing delays in the adoption of certain technologies, such as DOCSIS 4.0, impacting revenue growth in broadband.
Greetings, and welcome to the MaxLinear Third Quarter 2024 earnings conference call. This time, all participants are in a listen only mode question and answer session will follow the formal presentation. If anyone should require operator assistance, please press star zero on your telephone keypad. A reminder, this conference is being recorded is now my pleasure to introduce Leslie Green. Thank you. You may begin.
Thank you, Jillian, and good afternoon, everyone, and thank you for joining us on today's conference call to discuss MaxLinear's Third Quarter 2024 financial results. Today's call is being hosted by Dr. Kishore Seendripu, CEO, and Steve Litchfield, Chief Financial Officer and Chief of Corporate Strategy Officer. After our prepared comments, we will take questions from our comments today include forward-looking statements within the meaning of applicable securities laws, including statements relating to our guidance for the fourth quarter of 2024, including revenue, GAAP and non-GAAP gross margin and GAAP
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