2015 Q3 Form 10-Q Financial Statement

#000128846915000041 Filed on November 04, 2015

View on sec.gov

Income Statement

Concept 2015 Q3 2014 Q3
Revenue $95.19M $32.54M
YoY Change 192.53% 2.44%
Cost Of Revenue $44.14M $12.63M
YoY Change 249.44% 5.85%
Gross Profit $51.05M $19.91M
YoY Change 156.42% 0.39%
Gross Profit Margin 53.63% 61.18%
Selling, General & Admin $25.46M $8.141M
YoY Change 212.7% -18.3%
% of Gross Profit 49.87% 40.89%
Research & Development $23.49M $14.96M
YoY Change 57.06% 2.66%
% of Gross Profit 46.02% 75.13%
Depreciation & Amortization $17.30M $1.300M
YoY Change 1230.77% 44.44%
% of Gross Profit 33.89% 6.53%
Operating Expenses $49.37M $23.10M
YoY Change 113.75% -5.85%
Operating Profit $1.677M -$3.189M
YoY Change -152.59% -32.19%
Interest Expense $0.00 $0.00
YoY Change
% of Operating Profit 0.0%
Other Income/Expense, Net $407.0K -$49.00K
YoY Change -930.61% -36.36%
Pretax Income $2.131M -$3.177M
YoY Change -167.08% -32.79%
Income Tax $549.0K $28.00K
% Of Pretax Income 25.76%
Net Earnings $1.582M -$3.205M
YoY Change -149.36% -34.35%
Net Earnings / Revenue 1.66% -9.85%
Basic Earnings Per Share $0.03 -$0.09
Diluted Earnings Per Share $0.03 -$0.09
COMMON SHARES
Basic Shares Outstanding 60.64M shares 36.90M shares
Diluted Shares Outstanding 63.21M shares 36.90M shares

Balance Sheet

Concept 2015 Q3 2014 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $84.90M $81.80M
YoY Change 3.79% 30.88%
Cash & Equivalents $58.15M $34.06M
Short-Term Investments $26.80M $47.70M
Other Short-Term Assets $4.500M $2.100M
YoY Change 114.29% 31.25%
Inventory $36.27M $9.576M
Prepaid Expenses
Receivables $41.77M $20.46M
Other Receivables $0.00 $0.00
Total Short-Term Assets $167.5M $113.9M
YoY Change 47.04% 22.94%
LONG-TERM ASSETS
Property, Plant & Equipment $20.54M $10.13M
YoY Change 102.89% 71.9%
Goodwill $49.37M
YoY Change
Intangibles
YoY Change
Long-Term Investments $19.80M $12.10M
YoY Change 63.64% -40.98%
Other Assets $5.715M $542.0K
YoY Change 954.43% 98.53%
Total Long-Term Assets $175.1M $23.30M
YoY Change 651.64% -15.38%
TOTAL ASSETS
Total Short-Term Assets $167.5M $113.9M
Total Long-Term Assets $175.1M $23.30M
Total Assets $342.6M $137.2M
YoY Change 149.72% 14.16%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $15.03M $6.518M
YoY Change 130.59% 11.0%
Accrued Expenses $19.15M $5.485M
YoY Change 249.15% -9.92%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $67.49M $39.69M
YoY Change 70.03% 14.66%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $10.60M $1.475M
YoY Change 618.44% 60.85%
Total Long-Term Liabilities $10.60M $1.475M
YoY Change 618.44% 60.85%
TOTAL LIABILITIES
Total Short-Term Liabilities $67.49M $39.69M
Total Long-Term Liabilities $10.60M $1.475M
Total Liabilities $78.08M $41.17M
YoY Change 89.68% 15.85%
SHAREHOLDERS EQUITY
Retained Earnings -$112.7M -$76.43M
YoY Change 47.43% 10.6%
Common Stock $377.8M $172.4M
YoY Change 119.1% 12.19%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $264.5M $96.03M
YoY Change
Total Liabilities & Shareholders Equity $342.6M $137.2M
YoY Change 149.72% 14.16%

Cashflow Statement

Concept 2015 Q3 2014 Q3
OPERATING ACTIVITIES
Net Income $1.582M -$3.205M
YoY Change -149.36% -34.35%
Depreciation, Depletion And Amortization $17.30M $1.300M
YoY Change 1230.77% 44.44%
Cash From Operating Activities $22.10M $6.400M
YoY Change 245.31% 106.45%
INVESTING ACTIVITIES
Capital Expenditures -$100.0K -$3.200M
YoY Change -96.87% 190.91%
Acquisitions
YoY Change
Other Investing Activities -$21.30M $200.0K
YoY Change -10750.0% -200.0%
Cash From Investing Activities -$21.50M -$2.900M
YoY Change 641.38% 123.08%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.500M -700.0K
YoY Change -314.29%
NET CHANGE
Cash From Operating Activities 22.10M 6.400M
Cash From Investing Activities -21.50M -2.900M
Cash From Financing Activities 1.500M -700.0K
Net Change In Cash 2.100M 2.800M
YoY Change -25.0% 55.56%
FREE CASH FLOW
Cash From Operating Activities $22.10M $6.400M
Capital Expenditures -$100.0K -$3.200M
Free Cash Flow $22.20M $9.600M
YoY Change 131.25% 128.57%

Facts In Submission

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us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
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CY2015Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax
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us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax
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CY2014Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
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us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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CY2015Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
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us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
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CY2014Q3 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax
0 USD
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax
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CY2015Q3 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax
0 USD
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax
0 USD
CY2014Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
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CY2015Q3 us-gaap Other Liabilities Noncurrent
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CY2014Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
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us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
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CY2015Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
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us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
351000 USD
us-gaap Other Significant Noncash Transaction Value Of Consideration Given1
OtherSignificantNoncashTransactionValueOfConsiderationGiven1
5050000 USD
us-gaap Other Significant Noncash Transaction Value Of Consideration Given1
OtherSignificantNoncashTransactionValueOfConsiderationGiven1
5459000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
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us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
0 USD
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
705000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
3641000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
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us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
36457000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1
P4Y
us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
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0 USD
us-gaap Payments To Acquire Intangible Assets
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0 USD
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PaymentsToAcquireIntangibleAssets
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us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
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us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1480000 USD
CY2014Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2015Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
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CY2014Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
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CY2015Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
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CY2014Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2015Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
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CY2014Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2015Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
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CY2014Q4 us-gaap Preferred Stock Value
PreferredStockValue
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CY2015Q3 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2014Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
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CY2015Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
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us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
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us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
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us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
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35895000 USD
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PropertyPlantAndEquipmentNet
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CY2014Q3 us-gaap Research And Development Expense Excluding Acquired In Process Cost
ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost
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us-gaap Research And Development Expense Excluding Acquired In Process Cost
ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost
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ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost
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us-gaap Research And Development Expense Excluding Acquired In Process Cost
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CY2014Q3 us-gaap Restructuring Charges
RestructuringCharges
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us-gaap Restructuring Charges
RestructuringCharges
0 USD
CY2015Q3 us-gaap Restructuring Charges
RestructuringCharges
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us-gaap Restructuring Charges
RestructuringCharges
11814000 USD
CY2014Q4 us-gaap Restructuring Reserve Current
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CY2014Q4 us-gaap Retained Earnings Accumulated Deficit
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CY2015Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
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CY2014Q3 us-gaap Sales Revenue Net
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us-gaap Sales Revenue Net
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CY2015Q3 us-gaap Sales Revenue Net
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us-gaap Sales Revenue Net
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CY2014Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
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us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
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CY2015Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
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us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
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us-gaap Share Based Compensation
ShareBasedCompensation
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us-gaap Share Based Compensation
ShareBasedCompensation
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CY2014Q4 us-gaap Stockholders Equity
StockholdersEquity
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CY2015Q3 us-gaap Stockholders Equity
StockholdersEquity
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us-gaap Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
1900000 USD
CY2014Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
CY2015Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
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us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
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CY2014Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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CY2015Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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CY2014Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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CY2015Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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us-gaap Nature Of Operations
NatureOfOperations
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Description of Business</font></div><div style="line-height:120%;padding-top:12px;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">MaxLinear, Inc. (the Company) was incorporated in Delaware in September 2003. The Company is a provider of integrated, radio-frequency and mixed-signal integrated circuits for broadband communication and data center, metro, and long-haul transport network applications whose customers include module makers, original equipment manufacturers, or OEMs, and original design manufacturers, or ODMs, who incorporate the Company&#8217;s products in a wide range of electronic devices including cable and terrestrial and satellite set top boxes, DOCSIS data and voice gateways, hybrid analog and digital televisions, satellite low-noise blocker transponders or outdoor units and optical modules for data center, metro, and long-haul transport network applications. The Company is a fabless semiconductor company focusing its resources on the design, sales and marketing of its products.</font></div></div>
us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Use of Estimates</font></div><div style="line-height:120%;padding-top:12px;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of unaudited consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the unaudited consolidated financial statements and accompanying notes of the unaudited consolidated financial statements. Actual results could differ from those estimates.</font></div></div>

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