| MAXLINEAR, INC. | ||||||||
| UNAUDITED RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES | ||||||||
| Three Months Ended | ||||||||
| September 30, 2016 | June 30, 2016 | September 30, 2015 | ||||||
| GAAP cost of net revenue | 42.4 | % | 38.1 | % | 46.4 | % | ||
| Stock-based compensation | (0.1 | )% | (0.1 | )% | (0.1 | )% | ||
| Performance based equity | — | % | 0.2 | % | (0.2 | )% | ||
| Amortization of inventory step-up | (2.7 | )% | (0.3 | )% | (1.0 | )% | ||
| Amortization of purchased intangible assets | (2.7 | )% | (1.7 | )% | (1.6 | )% | ||
| Impairment of production masks | — | % | — | % | (0.2 | )% | ||
| Non-GAAP cost of net revenue | 36.9 | % | 36.2 | % | 43.3 | % | ||
| GAAP R&D expenses | 26.9 | % | 23.6 | % | 24.7 | % | ||
| Stock-based compensation | (4.3 | )% | (3.1 | )% | (3.7 | )% | ||
| Incentive award compensation | (0.2 | )% | (0.2 | )% | — | % | ||
| Performance based equity | (0.9 | )% | (1.5 | )% | (1.2 | )% | ||
| Amortization of purchased intangible assets | — | % | (0.1 | )% | (0.1 | )% | ||
| Severance charges | — | % | — | % | (0.2 | )% | ||
| Restricted merger proceeds and contingent consideration | (0.3 | )% | (0.2 | )% | (0.2 | )% | ||
| Non-GAAP R&D expenses | 21.2 | % | 18.5 | % | 19.3 | % | ||
| GAAP SG&A expenses | 18.3 | % | 16.2 | % | 26.7 | % | ||
| Stock-based compensation | (1.9 | )% | (1.7 | )% | (1.5 | )% | ||
| Incentive award compensation | — | % | — | % | — | % | ||
| Performance based equity | (1.0 | )% | (0.8 | )% | (0.8 | )% | ||
| Amortization of purchased intangible assets | (3.2 | )% | (0.6 | )% | (12.6 | )% | ||
| Acquisition and integration costs | (0.6 | )% | (1.3 | )% | — | % | ||
| Restricted merger proceeds and contingent consideration | (0.1 | )% | — | % | — | % | ||
| Severance charges | — | % | — | % | (0.3 | )% | ||
| IP litigation costs, net | — | % | (0.2 | )% | (0.2 | )% | ||
| Non-GAAP SG&A expenses | 11.5 | % | 11.6 | % | 11.3 | % | ||
| GAAP impairment losses | 1.3 | % | — | % | — | % | ||
| Impairment Losses | (1.3 | )% | — | % | — | % | ||
| Non-GAAP impairment losses | — | % | — | % | — | % | ||
| GAAP restructuring expenses | — | % | — | % | 0.4 | % | ||
| Restructuring Charges | — | % | — | % | (0.4 | )% | ||
| Non-GAAP restructuring expenses | — | % | — | % | — | % | ||
| GAAP income (loss) before income taxes | 11.2 | % | 22.3 | % | 2.2 | % | ||
| Total non-GAAP adjustments before income taxes | 19.3 | % | 11.8 | % | 24.4 | % | ||
| Non-GAAP income before income taxes | 30.5 | % | 34.1 | % | 26.6 | % | ||
| GAAP income tax expense (benefit) | 1.1 | % | 0.1 | % | 0.6 | % | ||
| Tax impact of non-GAAP adjustments | (0.6 | )% | 0.7 | % | 0.1 | % | ||
| Record valuation allowance due to net deferred liability acquired | — | % | — | % | (0.4 | )% | ||
| Non-GAAP income tax expense (benefit) | 0.5 | % | 0.8 | % | 0.3 | % | ||
| GAAP net income (loss) | 10.0 | % | 22.2 | % | 1.7 | % | ||
| Total non-GAAP adjustments before income taxes | 19.3 | % | 11.8 | % | 24.4 | % | ||
| Total tax adjustments | (0.6 | )% | 0.7 | % | (0.2 | )% | ||
| Non-GAAP net income | 29.9 | % | 33.3 | % | 26.3 | % | ||
MaxLinear, Inc. Announces Third Quarter 2016 Financial Results
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