| MAXLINEAR, INC. | ||||||||
| UNAUDITED RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES | ||||||||
| Three Months Ended | ||||||||
| June 30, 2016 | March 31, 2016 | June 30, 2015 | ||||||
| GAAP cost of net revenue | 38.1 | % | 40.4 | % | 62.0 | % | ||
| Stock based compensation | (0.1 | )% | — | % | (0.1 | )% | ||
| Performance based equity | 0.2 | % | (0.1 | )% | — | % | ||
| Amortization of inventory step-up | (0.3 | )% | — | % | (18.8 | )% | ||
| Amortization of purchased intangible assets | (1.7 | )% | (1.6 | )% | (1.5 | )% | ||
| Non-GAAP cost of net revenue | 36.2 | % | 38.7 | % | 41.6 | % | ||
| GAAP R&D expenses | 23.6 | % | 23.1 | % | 33.9 | % | ||
| Stock based compensation | (3.1 | )% | (3.0 | )% | (4.3 | )% | ||
| Incentive award compensation | (0.2 | )% | (0.2 | )% | (0.5 | )% | ||
| Performance based equity | (1.5 | )% | (1.1 | )% | (1.7 | )% | ||
| Amortization of purchased intangible assets | (0.1 | )% | (0.1 | )% | (0.1 | )% | ||
| Restricted merger proceeds and contingent consideration | (0.2 | )% | (0.2 | )% | (0.3 | )% | ||
| Non-GAAP R&D expenses | 18.5 | % | 18.5 | % | 27.0 | % | ||
| GAAP SG&A expenses | 16.2 | % | 13.3 | % | 33.4 | % | ||
| Stock based compensation | (1.7 | )% | (1.7 | )% | (2.4 | )% | ||
| Incentive award compensation | — | % | — | % | — | % | ||
| Performance based equity | (0.8 | )% | (0.6 | )% | (0.8 | )% | ||
| Amortization of purchased intangible assets | (0.6 | )% | (0.3 | )% | (11.3 | )% | ||
| Acquisition and integration costs | (1.3 | )% | 0.1 | % | (4.0 | )% | ||
| Restricted merger proceeds and contingent consideration | — | % | (0.1 | )% | (0.1 | )% | ||
| Severance charges | — | % | — | % | — | % | ||
| IP litigation costs, net | (0.2 | )% | (0.5 | )% | (0.5 | )% | ||
| Non-GAAP SG&A expenses | 11.6 | % | 10.2 | % | 14.3 | % | ||
| GAAP restructuring expenses | — | % | 2.1 | % | 16.1 | % | ||
| Restructuring Charges | — | % | (2.1 | )% | (16.1 | )% | ||
| Non-GAAP restructuring expenses | — | % | — | % | — | % | ||
| GAAP income (loss) before income taxes | 22.3 | % | 21.1 | % | (45.2 | )% | ||
| Total non-GAAP adjustments before income taxes | 11.8 | % | 11.4 | % | 62.3 | % | ||
| Non-GAAP income before income taxes | 34.1 | % | 32.5 | % | 17.1 | % | ||
| GAAP income tax expense (benefit) | 0.1 | % | 1.0 | % | (2.0 | )% | ||
| Tax impact of non-GAAP adjustments | 0.7 | % | (0.3 | )% | (0.5 | )% | ||
| Record valuation allowance due to net deferred liability acquired | — | % | — | % | 2.7 | % | ||
| Non-GAAP income tax expense (benefit) | 0.8 | % | 0.7 | % | 0.2 | % | ||
| GAAP net income (loss) | 22.2 | % | 20.1 | % | (43.3 | )% | ||
| Total non-GAAP adjustments before income taxes | 11.8 | % | 11.4 | % | 62.3 | % | ||
| Total tax adjustments | 0.7 | % | (0.3 | )% | 2.2 | % | ||
| Non-GAAP net income | 33.3 | % | 31.8 | % | 16.8 | % | ||
MaxLinear, Inc. Announces Second Quarter 2016 Financial Results
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