2024 Q1 Form 10-K Financial Statement

#000128846924000015 Filed on January 31, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $95.27M $125.4M $693.3M
YoY Change -61.65% -56.86% -38.12%
Cost Of Revenue $46.00M $56.81M $307.6M
YoY Change -57.46% -55.35% -34.62%
Gross Profit $49.27M $68.54M $385.7M
YoY Change -64.89% -58.04% -40.65%
Gross Profit Margin 51.71% 54.68% 55.63%
Selling, General & Admin $35.90M $33.79M $132.2M
YoY Change -7.13% -21.7% -21.34%
% of Gross Profit 72.86% 49.3% 34.27%
Research & Development $64.77M $65.25M $269.5M
YoY Change -3.75% -11.49% -9.09%
% of Gross Profit 131.46% 95.2% 69.88%
Depreciation & Amortization $16.68M $16.59M $71.52M
YoY Change -13.11% 1163.75% -11.41%
% of Gross Profit 33.86% 24.21% 18.54%
Operating Expenses $101.3M $99.63M $423.9M
YoY Change -10.42% -15.7% -9.72%
Operating Profit -$51.99M -$31.10M -$38.22M
YoY Change -290.59% -168.88% -121.21%
Interest Expense -$889.0K -$3.928M $10.70M
YoY Change -135.75% 69.16% 9.56%
% of Operating Profit
Other Income/Expense, Net $1.434M $3.040M -$25.59M
YoY Change -165.84% 62.22% 323.31%
Pretax Income -$74.07M -$42.63M -$63.81M
YoY Change -395.12% -204.71% -136.63%
Income Tax -$1.762M -$4.131M $9.300M
% Of Pretax Income
Net Earnings -$72.31M -$38.50M -$73.15M
YoY Change -858.51% -223.87% -158.5%
Net Earnings / Revenue -75.9% -30.71% -10.55%
Basic Earnings Per Share -$0.88 -$0.91
Diluted Earnings Per Share -$0.88 -$0.47 -$0.91
COMMON SHARES
Basic Shares Outstanding 81.93M shares 81.56M shares 80.72M shares
Diluted Shares Outstanding 82.35M shares 80.72M shares

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $191.9M $187.3M $187.3M
YoY Change -15.3% -9.03% -9.03%
Cash & Equivalents $191.9M $187.3M $187.3M
Short-Term Investments $0.00 $0.00
Other Short-Term Assets $30.44M $30.21M $30.21M
YoY Change 5.93% 17.43% 17.43%
Inventory $96.13M $99.90M $99.91M
Prepaid Expenses
Receivables $126.2M $170.6M $170.6M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $444.7M $488.0M $488.0M
YoY Change -25.09% -13.34% -13.34%
LONG-TERM ASSETS
Property, Plant & Equipment $95.81M $66.43M $97.70M
YoY Change 23.32% -15.93% -9.15%
Goodwill $318.6M $318.6M
YoY Change -0.1% 3.86%
Intangibles $64.94M $73.63M
YoY Change -32.6% -32.64%
Long-Term Investments
YoY Change
Other Assets $106.6M $32.81M $102.3M
YoY Change 280.15% 22.42% 9.65%
Total Long-Term Assets $585.9M $592.2M $592.2M
YoY Change -3.13% -4.0% -4.0%
TOTAL ASSETS
Total Short-Term Assets $444.7M $488.0M $488.0M
Total Long-Term Assets $585.9M $592.2M $592.2M
Total Assets $1.031B $1.080B $1.080B
YoY Change -14.01% -8.45% -8.45%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $32.39M $21.55M $21.55M
YoY Change -40.65% -68.57% -68.57%
Accrued Expenses $184.8M $98.47M $192.2M
YoY Change 63.66% -1.68% -24.87%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $223.9M $222.1M $222.1M
YoY Change -25.42% -34.88% -34.88%
LONG-TERM LIABILITIES
Long-Term Debt $122.5M $122.4M $122.4M
YoY Change 0.51% 0.51% 0.51%
Other Long-Term Liabilities $46.26M $23.25M $49.49M
YoY Change 119.71% 33.25% 21.3%
Total Long-Term Liabilities $168.8M $145.6M $171.9M
YoY Change 18.06% 4.61% 5.73%
TOTAL LIABILITIES
Total Short-Term Liabilities $223.9M $222.1M $222.1M
Total Long-Term Liabilities $168.8M $145.6M $171.9M
Total Liabilities $392.6M $394.0M $394.0M
YoY Change -15.45% -21.77% -21.77%
SHAREHOLDERS EQUITY
Retained Earnings -$190.8M -$118.5M
YoY Change 432.36% 161.19%
Common Stock $834.4M $808.6M
YoY Change 8.2% 11.87%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $638.0M $686.3M $686.3M
YoY Change
Total Liabilities & Shareholders Equity $1.031B $1.080B $1.080B
YoY Change -14.01% -8.45% -8.45%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income -$72.31M -$38.50M -$73.15M
YoY Change -858.51% -223.87% -158.5%
Depreciation, Depletion And Amortization $16.68M $16.59M $71.52M
YoY Change -13.11% 1163.75% -11.41%
Cash From Operating Activities $15.97M -$16.57M $43.37M
YoY Change -62.12% -123.9% -88.84%
INVESTING ACTIVITIES
Capital Expenditures $8.710M $2.371M $13.45M
YoY Change 66.99% -86.35% -67.39%
Acquisitions $0.00 $13.32M
YoY Change -100.0%
Other Investing Activities $17.20M $17.20M
YoY Change -143.73%
Cash From Investing Activities -$8.710M $14.83M -$15.94M
YoY Change -43.85% -185.35% -82.63%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net -$4.559M
YoY Change -117.21%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -2.103M 1.171M -$26.36M
YoY Change -65.92% -102.41% -89.04%
NET CHANGE
Cash From Operating Activities 15.97M -16.57M $43.37M
Cash From Investing Activities -8.710M 14.83M -$15.94M
Cash From Financing Activities -2.103M 1.171M -$26.36M
Net Change In Cash 5.157M -575.0K -$1.000K
YoY Change -74.82% -116.87% -100.0%
FREE CASH FLOW
Cash From Operating Activities $15.97M -$16.57M $43.37M
Capital Expenditures $8.710M $2.371M $13.45M
Free Cash Flow $7.260M -$18.94M $29.92M
YoY Change -80.35% -136.44% -91.39%

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<div style="margin-top:9pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates and Significant Risks and Uncertainties</span></div><div style="margin-top:9pt;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes to the consolidated financial statements. Actual results could differ from those estimates.</span></div>
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1100000 usd
CY2022Q4 us-gaap Defined Benefit Plan Accumulated Benefit Obligation
DefinedBenefitPlanAccumulatedBenefitObligation
6300000 usd
CY2023Q4 us-gaap Defined Benefit Plan Pension Plans With Accumulated Benefit Obligations In Excess Of Plan Assets Aggregate Accumulated Benefit Obligation
DefinedBenefitPlanPensionPlansWithAccumulatedBenefitObligationsInExcessOfPlanAssetsAggregateAccumulatedBenefitObligation
1145000 usd
CY2022Q4 us-gaap Defined Benefit Plan Pension Plans With Accumulated Benefit Obligations In Excess Of Plan Assets Aggregate Accumulated Benefit Obligation
DefinedBenefitPlanPensionPlansWithAccumulatedBenefitObligationsInExcessOfPlanAssetsAggregateAccumulatedBenefitObligation
6258000 usd
CY2023Q4 us-gaap Defined Benefit Plan Pension Plans With Accumulated Benefit Obligations In Excess Of Plan Assets Aggregate Fair Value Of Plan Assets
DefinedBenefitPlanPensionPlansWithAccumulatedBenefitObligationsInExcessOfPlanAssetsAggregateFairValueOfPlanAssets
0 usd
CY2022Q4 us-gaap Defined Benefit Plan Pension Plans With Accumulated Benefit Obligations In Excess Of Plan Assets Aggregate Fair Value Of Plan Assets
DefinedBenefitPlanPensionPlansWithAccumulatedBenefitObligationsInExcessOfPlanAssetsAggregateFairValueOfPlanAssets
4895000 usd
CY2023Q4 us-gaap Defined Benefit Plan Pension Plan With Projected Benefit Obligation In Excess Of Plan Assets Projected Benefit Obligation
DefinedBenefitPlanPensionPlanWithProjectedBenefitObligationInExcessOfPlanAssetsProjectedBenefitObligation
1383000 usd
CY2022Q4 us-gaap Defined Benefit Plan Pension Plan With Projected Benefit Obligation In Excess Of Plan Assets Projected Benefit Obligation
DefinedBenefitPlanPensionPlanWithProjectedBenefitObligationInExcessOfPlanAssetsProjectedBenefitObligation
6573000 usd
CY2023Q4 us-gaap Defined Benefit Plan Pension Plan With Projected Benefit Obligation In Excess Of Plan Assets Plan Assets
DefinedBenefitPlanPensionPlanWithProjectedBenefitObligationInExcessOfPlanAssetsPlanAssets
0 usd
CY2022Q4 us-gaap Defined Benefit Plan Pension Plan With Projected Benefit Obligation In Excess Of Plan Assets Plan Assets
DefinedBenefitPlanPensionPlanWithProjectedBenefitObligationInExcessOfPlanAssetsPlanAssets
4895000 usd
CY2023 us-gaap Defined Benefit Plan Assumptions Used Calculating Net Periodic Benefit Cost Expected Long Term Return On Assets
DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostExpectedLongTermReturnOnAssets
0
CY2022 us-gaap Defined Benefit Plan Assumptions Used Calculating Net Periodic Benefit Cost Expected Long Term Return On Assets
DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostExpectedLongTermReturnOnAssets
0
CY2023Q4 us-gaap Defined Benefit Plan Fair Value Of Plan Assets
DefinedBenefitPlanFairValueOfPlanAssets
0 usd
CY2023Q4 us-gaap Defined Benefit Plan Expected Future Benefit Payments Next Twelve Months
DefinedBenefitPlanExpectedFutureBenefitPaymentsNextTwelveMonths
59000 usd
CY2023Q4 us-gaap Defined Benefit Plan Expected Future Benefit Payments Year Two
DefinedBenefitPlanExpectedFutureBenefitPaymentsYearTwo
60000 usd
CY2023Q4 us-gaap Defined Benefit Plan Expected Future Benefit Payments Year Three
DefinedBenefitPlanExpectedFutureBenefitPaymentsYearThree
46000 usd
CY2023Q4 us-gaap Defined Benefit Plan Expected Future Benefit Payments Year Four
DefinedBenefitPlanExpectedFutureBenefitPaymentsYearFour
46000 usd
CY2023Q4 us-gaap Defined Benefit Plan Expected Future Benefit Payments Year Five
DefinedBenefitPlanExpectedFutureBenefitPaymentsYearFive
32000 usd
CY2023Q4 us-gaap Defined Benefit Plan Expected Future Benefit Payments Five Fiscal Years Thereafter
DefinedBenefitPlanExpectedFutureBenefitPaymentsFiveFiscalYearsThereafter
63000 usd
CY2023Q4 mxl Defined Benefit Plan Expected Future Benefits Payments Total
DefinedBenefitPlanExpectedFutureBenefitsPaymentsTotal
306000 usd
CY2023Q4 us-gaap Contractual Obligation Due In Next Twelve Months
ContractualObligationDueInNextTwelveMonths
61317000 usd
CY2023Q4 us-gaap Contractual Obligation Due In Second Year
ContractualObligationDueInSecondYear
39636000 usd
CY2023Q4 us-gaap Contractual Obligation Due In Third Year
ContractualObligationDueInThirdYear
18567000 usd
CY2023Q4 us-gaap Contractual Obligation Due In Fourth Year
ContractualObligationDueInFourthYear
3673000 usd
CY2023Q4 us-gaap Contractual Obligation
ContractualObligation
123193000 usd
CY2023Q4 mxl Research And Development Arrangement Contract For A Jointly Funded Project Cumulative Proceeds Received From Other Party
ResearchAndDevelopmentArrangementContractForAJointlyFundedProjectCumulativeProceedsReceivedFromOtherParty
15000000 usd
CY2023 mxl Research And Development Arrangement Contract For A Jointly Funded Project Cumulative Proceeds Received From Other Party Recognized
ResearchAndDevelopmentArrangementContractForAJointlyFundedProjectCumulativeProceedsReceivedFromOtherPartyRecognized
0 usd
CY2022 mxl Research And Development Arrangement Contract For A Jointly Funded Project Cumulative Proceeds Received From Other Party Recognized
ResearchAndDevelopmentArrangementContractForAJointlyFundedProjectCumulativeProceedsReceivedFromOtherPartyRecognized
3800000 usd
CY2021Q1 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
100000000 usd
CY2023 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
0 shares
CY2022 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
564449 shares
CY2022 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
55.7972
CY2022 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
31500000 usd
CY2021 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
454372 shares
CY2021 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
51.7998
CY2021 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
23500000 usd
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
55000000 usd
CY2023Q4 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
45000000 usd

Files In Submission

Name View Source Status
mxl-20231231_def.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable
mxl-20231231_cal.xml Edgar Link unprocessable
mxl-20231231_pre.xml Edgar Link unprocessable
mxl-20231231_lab.xml Edgar Link unprocessable
0001288469-24-000015-index-headers.html Edgar Link pending
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0001288469-24-000015.txt Edgar Link pending
0001288469-24-000015-xbrl.zip Edgar Link pending
a12312023exhibit1017.htm Edgar Link pending
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Financial_Report.xlsx Edgar Link pending
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mxl-20231231.xsd Edgar Link pending
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