|
MAXLINEAR, INC. |
|
UNAUDITED GAAP CONSOLIDATED STATEMENTS OF CASH FLOWS |
|
(in thousands) |
| | |
| |
Three Months Ended |
| |
December 31, 2015 | |
September 30, 2015 | |
December 31, 2014 |
|
Operating Activities | | | | | |
| Net (loss) income | $ | (8,544 | ) | | $ | 1,582 | | | $ | (2,362 | ) |
| Adjustments to reconcile net loss to cash provided by operating activities: | | | | | |
| Amortization and depreciation | 9,479 | | | 17,296 | | | 1,580 | |
| Impairment of intangible assets | 21,600 | | | — | | | — | |
| Provision for losses on accounts receivable | 178 | | | — | | | — | |
| Provision for inventory reserves | 155 | | | — | | | — | |
| Amortization of investment premiums, net | 293 | | | 57 | | | 146 | |
| Amortization of inventory step-up | — | | | 958 | | | — | |
| Stock-based compensation | 5,364 | | | 5,193 | | | 3,928 | |
| Deferred income taxes | (197 | ) | | 251 | | | (2,292 | ) |
| Loss (gain) on disposal of property and equipment | 113 | | | (39 | ) | | — | |
| Loss (gain) on sale of available-for-sale securities | (42 | ) | | 21 | | | (3 | ) |
| Impairment of long-lived assets | — | | | 153 | | | 21 | |
| Impairment of leases | 2,002 | | | 568 | | | — | |
| Changes in operating assets and liabilities: | | | | | |
| Accounts receivable | (811 | ) | | (205 | ) | | 2,379 | |
| Inventory | 3,667 | | | 1,581 | | | (1,213 | ) |
| Prepaid and other assets | 3,795 | | | (2,684 | ) | | (350 | ) |
| Accounts payable, accrued expenses and other current liabilities | (14,502 | ) | | (9,247 | ) | | 17 | |
| Accrued compensation | (673 | ) | | 3,181 | | | 241 | |
| Deferred revenue and deferred profit | (72 | ) | | 3 | | | (1,273 | ) |
| Accrued price protection liability | 322 | | | 3,925 | | | (6,467 | ) |
| Other long-term liabilities | 2,431 | | | (513 | ) | | (120 | ) |
| Net cash provided by (used in) operating activities | 24,558 | | | 22,081 | | | (5,768 | ) |
|
Investing Activities | | | | | | |
| Purchases of property and equipment | (1,516 | ) | | (20 | ) | | (1,033 | ) |
| Purchases of intangible assets | — | | | (100 | ) | | — | |
| Cash used in acquisition, net of cash acquired | — | | | — | | | (9,136 | ) |
| Purchases of available-for-sale securities | (27,697 | ) | | (25,712 | ) | | (20,245 | ) |
| Maturities of available-for-sale securities | 11,521 | | | 4,400 | | | 21,277 | |
| Net cash used in investing activities | (17,692 | ) | | (21,432 | ) | | (9,137 | ) |
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Financing Activities | | | | | | |
| Net proceeds from issuance of common stock | 3,604 | | | 2,891 | | | 1,720 | |
| Minimum tax withholding paid on behalf of employees for restricted stock units | (613 | ) | | (1,367 | ) | | (169 | ) |
| Net cash provided by (used in) financing activities | 2,991 | | | 1,524 | | | 1,551 | |
| Effect of exchange rate changes on cash and cash equivalents | (50 | ) | | (755 | ) | | (5 | ) |
| Increase (decrease) in cash and cash equivalents | 9,807 | | | 1,418 | | | (13,359 | ) |
| Cash and cash equivalents at beginning of period | 58,149 | | | 56,731 | | | 34,055 | |
| Cash and cash equivalents at end of period | $ | 67,956 | | | $ | 58,149 | | | $ | 20,696 | |
