| MAXLINEAR, INC. | ||||||||
| UNAUDITED RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES | ||||||||
| Three Months Ended | ||||||||
| June 30, 2018 | March 31, 2018 | June 30, 2017 | ||||||
| GAAP gross profit | 55.5 | % | 56.5 | % | 49.1 | % | ||
| Stock-based compensation | 0.1 | % | 0.1 | % | 0.1 | % | ||
| Performance based equity | — | % | 0.1 | % | — | % | ||
| Amortization of inventory step-up | — | % | — | % | 5.4 | % | ||
| Amortization of purchased intangible assets | 8.8 | % | 8.1 | % | 6.0 | % | ||
| Depreciation of fixed asset step-up | 0.1 | % | 0.1 | % | 0.1 | % | ||
| Deferred profit eliminated in purchase price accounting | — | % | — | % | 3.7 | % | ||
| Non-GAAP gross profit | 64.6 | % | 64.9 | % | 64.4 | % | ||
| GAAP R&D expenses | 29.8 | % | 28.1 | % | 27.9 | % | ||
| Stock-based compensation | (4.4 | )% | (3.9 | )% | (3.9 | )% | ||
| Performance based equity | (1.3 | )% | (1.0 | )% | (1.0 | )% | ||
| Amortization of purchased intangible assets | — | % | — | % | (0.1 | )% | ||
| Depreciation of fixed asset step-up | (0.4 | )% | (0.4 | )% | (0.7 | )% | ||
| Non-GAAP R&D expenses | 23.8 | % | 22.8 | % | 22.2 | % | ||
| GAAP SG&A expenses | 24.1 | % | 24.5 | % | 30.1 | % | ||
| Stock-based compensation | (2.7 | )% | (3.6 | )% | (2.9 | )% | ||
| Performance based equity | (0.7 | )% | (0.9 | )% | (0.5 | )% | ||
| Amortization of purchased intangible assets | (7.9 | )% | (7.2 | )% | (7.9 | )% | ||
| Depreciation of fixed asset step-up | — | % | (0.1 | )% | (0.1 | )% | ||
| Acquisition and integration costs | — | % | — | % | (5.4 | )% | ||
| IP litigation costs, net | — | % | — | % | (0.1 | )% | ||
| Non-GAAP SG&A expenses | 12.8 | % | 12.7 | % | 13.2 | % | ||
| GAAP restructuring expenses | 1.8 | % | — | % | 6.3 | % | ||
| Restructuring charges | (1.8 | )% | — | % | (6.3 | )% | ||
| Non-GAAP restructuring expenses | — | % | — | % | — | % | ||
| GAAP income (loss) from operations | (0.2 | )% | 4.0 | % | (15.1 | )% | ||
| Total non-GAAP adjustments | 28.2 | % | 25.4 | % | 44.1 | % | ||
| Non-GAAP income from operations | 28.0 | % | 29.4 | % | 29.0 | % | ||
| GAAP and non-GAAP interest and other income (expense), net | (2.9 | )% | (4.0 | )% | (2.6 | )% | ||
| GAAP loss before income taxes | (3.1 | )% | — | % | (17.8 | )% | ||
| Total non-GAAP adjustments before income taxes | 28.2 | % | 25.4 | % | 44.1 | % | ||
| Non-GAAP income before income taxes | 25.1 | % | 25.4 | % | 26.4 | % | ||
| GAAP income tax provision (benefit) | 11.1 | % | (1.7 | )% | (28.3 | )% | ||
| Adjustment for non-cash tax benefits/expenses | (9.3 | )% | 3.5 | % | 30.9 | % | ||
| Non-GAAP income tax provision | 1.8 | % | 1.8 | % | 2.7 | % | ||
| GAAP net income (loss) | (14.2 | )% | 1.7 | % | 10.5 | % | ||
| Total non-GAAP adjustments before income taxes | 28.2 | % | 25.4 | % | 44.1 | % | ||
| Less: total tax adjustments | (9.3 | )% | 3.5 | % | 30.9 | % | ||
| Non-GAAP net income | 23.3 | % | 23.6 | % | 23.7 | % | ||
MaxLinear, Inc. Announces Second Quarter 2018 Financial Results
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