MaxLinear Non-GAAP EPS of $0.02 misses by $0.02, revenue of $135.5M misses by $4.22M

• MaxLinear press release (NASDAQ:MXL): Q3 Non-GAAP EPS of $0.02 misses by $0.02.
• Revenue of $135.5M (-52.6% Y/Y) misses by $4.22M.
• Shares -10%.
• Infrastructure revenue was $50.0 million in Q3, up 1% sequentially and up 40% YoY

• Fourth Quarter 2023 Business Outlook

  The company expects net revenue in the fourth quarter of 2023 to be approximately $115 million to $135 million. The Company also estimates the following:

  • GAAP gross margin of approximately 52.5% to 55.5%;
  • Non-GAAP gross margin of approximately 59.5% to 62.5%;
  • GAAP operating expenses of approximately $125 million to $135 million;
  • Non-GAAP operating expenses of approximately $72 million to $78 million;
  • GAAP and non-GAAP interest and other expenses are expected to be negligible; and
  • GAAP and non-GAAP diluted share count of 82.5 million to 83.5 million each

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