| MAXLINEAR, INC. | |||||||
| UNAUDITED GAAP CONSOLIDATED STATEMENTS OF CASH FLOWS | |||||||
| (in thousands) | |||||||
| Years Ended December 31, | |||||||
| 2015 | 2014 | ||||||
| Operating Activities | |||||||
| Net loss | $ | (42,331 | ) | $ | (7,041 | ) | |
| Adjustments to reconcile net loss to cash provided by operating activities: | |||||||
| Amortization and depreciation | 40,641 | 5,107 | |||||
| Impairment of intangible assets | 21,600 | — | |||||
| Provision for losses on accounts receivable | 178 | — | |||||
| Provision for inventory reserves | 155 | — | |||||
| Amortization of investment premiums, net | 554 | 724 | |||||
| Amortization of inventory step-up | 14,244 | — | |||||
| Stock-based compensation | 19,268 | 15,008 | |||||
| Deferred income taxes | (1,906 | ) | (2,281 | ) | |||
| Loss (gain) on disposal of property and equipment | 74 | (3 | ) | ||||
| Gain sale of available-for-sale securities | (21 | ) | — | ||||
| Impairment of long-lived assets | 153 | 29 | |||||
| Impairment of leases | 8,163 | — | |||||
| Changes in operating assets and liabilities: | |||||||
| Accounts receivable | 5,160 | 1,982 | |||||
| Inventory | (6,402 | ) | (757 | ) | |||
| Prepaid and other assets | 4,495 | (752 | ) | ||||
| Accounts payable, accrued expenses and other current liabilities | (23,447 | ) | 83 | ||||
| Accrued compensation | 5,320 | 3,911 | |||||
| Deferred revenue and deferred profit | 454 | 961 | |||||
| Accrued price protection liability | 6,522 | (4,999 | ) | ||||
| Other long-term liabilities | 2,167 | 262 | |||||
| Net cash provided by operating activities | 55,041 | 12,234 | |||||
| Investing Activities | |||||||
| Purchases of property and equipment | (2,996 | ) | (8,800 | ) | |||
| Purchases of intangible assets | (100 | ) | — | ||||
| Cash used in acquisition, net of cash acquired | (3,615 | ) | (9,136 | ) | |||
| Purchases of available-for-sale securities | (73,377 | ) | (56,702 | ) | |||
| Maturities of available-for-sale securities | 69,029 | 57,172 | |||||
| Net cash used in investing activities | (11,059 | ) | (17,466 | ) | |||
| Financing Activities | |||||||
| Repurchases of common stock | (101 | ) | — | ||||
| Net proceeds from issuance of common stock | 9,950 | 3,304 | |||||
| Minimum tax withholding paid on behalf of employees for restricted stock units | (5,141 | ) | (3,810 | ) | |||
| Equity issuance costs | (705 | ) | — | ||||
| Net cash provided by (used in) financing activities | 4,003 | (506 | ) | ||||
| Effect of exchange rate changes on cash and cash equivalents | (725 | ) | (16 | ) | |||
| Increase (decrease) in cash and cash equivalents | 47,260 | (5,754 | ) | ||||
| Cash and cash equivalents at beginning of period | 20,696 | 26,450 | |||||
| Cash and cash equivalents at end of period | $ | 67,956 | $ | 20,696 | |||
MaxLinear, Inc. Announces Fourth Quarter and Fiscal Year 2015 Financial Results
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