MaxLinear, Inc. Announces Third Quarter 2015 Financial Results

MAXLINEAR, INC.
UNAUDITED RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES

	Nine Months Ended
	September 30, 2015		September 30, 2014
GAAP gross profit as a % of revenue	49.5	%	61.8	%
Stock-based compensation:
Cost of net revenue	0.1	%	0.1	%
Share-based bonus plan:
Cost of net revenue	0.1	%	—	%
Amortization of purchased intangibles:
Cost of net revenue	1.2	%	—	%
Impairment of production masks	0.1	%	—	%
Amortization of inventory step-up	7.1	%	—	%
Non-GAAP gross profit as a % of revenue	58.1	%	61.9	%

GAAP loss from operations as a % of revenue	(17.3	)%	(4.3	)%
Stock-based compensation:
Cost of net revenue	0.1	%	0.1	%
Research and development	4.4	%	7.1	%
Selling, general and administrative	2.2	%	3.8	%
Share-based bonus plan:
Cost of net revenue	0.1	%	—	%
Research and development	1.5	%	1.1	%
Selling, general and administrative	0.8	%	1.0	%
Amortization of purchased intangible assets:
Cost of net revenue	1.2	%	—	%
Research and development	0.2	%	—	%
Selling, general and administrative	10.0	%	—	%
Impairment of production masks	0.1	%	—	%
Amortization of inventory step-up	7.1	%	—	%
Acquisition and integration costs	2.7	%	—	%
Restricted merger proceeds	0.3	%	—	%
Change in fair value of contingent consideration	(0.1	)%	—	%
Severance charges	0.6	%	—	%
Restructuring charges	5.9	%	—	%
IP litigation costs, net	0.6	%	1.9	%
Non-GAAP income from operations as a % of revenue	20.4	%	10.7	%

MaxLinear, Inc. Investor Relations Contact:
Brian Nugent, CFA
Finance and Investor Relations Manager
Tel: 949-333-0237

MaxLinear, Inc. Corporate Contact:
Adam Spice
Chief Financial Officer
Tel: 949-333-0092

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