The following is a summary of the MaxLinear, Inc. (MXL) Q1 2024 Earnings Call Transcript:

Financial Performance:

• MaxLinear Inc's Q1 revenue was $95.3 million with a non-GAAP gross margin of 60.6%.

• The non-GAAP loss for Q1 operations stood at 18% of net revenue. The expected Q2 revenue is between $90 million and $110 million, projecting a GAAP gross margin between 52.5% and 56.5%.

• The company had approximately $193 million in cash, cash equivalents, and restricted cash at the end of Q1, with operating expenses standing at $123.9 million (GAAP) and $74.8 million (non-GAAP).

• Cash flow for Q1 was $16 million.

Business Progress:

• Revenue growth in '24 is expected due to product launches in emerging markets like optical data center interconnects, 5G wireless, Ethernet enterprise storage, multi-gigabit PON broadband access, and WiFi connectivity.

• MaxLinear expects the Ethernet business to reach $100 million over the next 18 to 24 months, and executives predict an increase in revenues to achieve a run rate of approximately $100 million by 2025 or 2026, due to robust growth in the wireless infrastructure, optical data center market, infrastructure and Ethernet, and storage accelerators.

• One of the first companies to introduce a functional Long Range Optical (LRO) to the market, MaxLinear expects WiFi 7 to drive growth over the next few years.

• The company is also working on an 800 gig Ethernet project due to see significant progress this year and expects a double in wireless infrastructure revenue by 2025 based on the product roadmap.

More details: MaxLinear IR

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