| MAXLINEAR, INC. | |||||||||
| UNAUDITED RECONCILIATION OF NON-GAAP ADJUSTMENTS | |||||||||
| (in thousands, except per share data) | |||||||||
| Years Ended | |||||||||
| December 31, 2016 | December 31, 2015 | ||||||||
| GAAP cost of net revenue | $ | 157,842 | $ | 144,937 | |||||
| Stock-based compensation | (210 | ) | (213 | ) | |||||
| Performance based equity | 10 | (256 | ) | ||||||
| Amortization of inventory step-up | (5,641 | ) | (14,244 | ) | |||||
| Amortization of purchased intangible assets | (8,512 | ) | (4,202 | ) | |||||
| Impairment of production masks | — | (153 | ) | ||||||
| Non-GAAP cost of net revenue | 143,489 | 125,869 | |||||||
| GAAP R&D expenses | 97,745 | 85,405 | |||||||
| Stock-based compensation | (13,681 | ) | (11,739 | ) | |||||
| Incentive award compensation | (722 | ) | (1,466 | ) | |||||
| Performance based equity | (4,707 | ) | (4,032 | ) | |||||
| Amortization of purchased intangible assets | (386 | ) | (405 | ) | |||||
| Severance charges | — | (862 | ) | ||||||
| Restricted merger proceeds and contingent consideration | (694 | ) | (834 | ) | |||||
| Non-GAAP R&D expenses | 77,555 | 66,067 | |||||||
| GAAP SG&A expenses | 64,454 | 77,981 | |||||||
| Stock-based compensation | (7,014 | ) | (5,744 | ) | |||||
| Incentive award compensation | (137 | ) | (106 | ) | |||||
| Performance based equity | (2,951 | ) | (2,086 | ) | |||||
| Amortization of purchased intangible assets | (6,952 | ) | (24,989 | ) | |||||
| Acquisition and integration costs | (2,424 | ) | (5,362 | ) | |||||
| Restricted merger proceeds and contingent consideration | (220 | ) | (129 | ) | |||||
| Severance charges | — | (456 | ) | ||||||
| IP litigation costs, net | (699 | ) | (1,460 | ) | |||||
| Non-GAAP SG&A expenses | 44,057 | 37,649 | |||||||
| GAAP IPR&D impairment losses | 1,300 | 21,600 | |||||||
| IPR&D impairment losses | (1,300 | ) | (21,600 | ) | |||||
| Non-GAAP IPR&D impairment losses | — | — | |||||||
| GAAP restructuring expenses | 3,432 | 14,086 | |||||||
| Restructuring charges | (3,432 | ) | (14,086 | ) | |||||
| Non-GAAP restructuring expenses | — | — | |||||||
| GAAP income (loss) before income taxes | 63,690 | (42,906 | ) | ||||||
| Total non-GAAP adjustments | 59,672 | 114,424 | |||||||
| Non-GAAP income before income taxes | 123,362 | 71,518 | |||||||
| GAAP income tax expense (benefit) | 2,398 | (575 | ) | ||||||
| Tax impact of non-GAAP adjustments | (151 | ) | (224 | ) | |||||
| Release of valuation allowance due to net deferred liability acquired | — | 1,757 | |||||||
| Non-GAAP income tax expense | 2,247 | 958 | |||||||
| GAAP net income (loss) | $ | 61,292 | $ | (42,331 | ) | ||||
| Total non-GAAP adjustments before income taxes | 59,672 | 114,424 | |||||||
| Total tax adjustments | (151 | ) | 1,533 | ||||||
| Non-GAAP net income | $ | 121,115 | $ | 70,560 | |||||
| Shares used in computing non-GAAP basic net income per share | 63,781 | 53,378 | |||||||
| Shares used in computing GAAP diluted net income (loss) per share | 67,653 | 53,378 | |||||||
| Dilutive common stock equivalents | — | 1,962 | |||||||
| Shares used in computing non-GAAP diluted net income per share | 67,653 | 55,340 | |||||||
| Non-GAAP basic net income per share | $ | 1.90 | $ | 1.32 | |||||
| Non-GAAP diluted net income per share | $ | 1.79 | $ | 1.28 | |||||
MaxLinear, Inc. Announces Fourth Quarter 2016 Financial Results and the Acquisition of Marvell's G.hn Business
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