In This Story
MaxLinear Inc (MXL-1.92%). has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The filing reports a net revenue of $360.5 million, a decrease from $693.3 million in the previous year, attributed to macroeconomic conditions and excess inventory in the channel.
Cost of net revenue was $165.7 million, resulting in a gross profit of $194.8 million, down from $385.7 million in the prior year.
Research and development expenses were $225.2 million, a decrease from $269.5 million, due to cost reduction measures and workforce reductions.
Selling, general, and administrative expenses increased to $138.3 million from $132.2 million, primarily due to increased stock-based compensation.
The company reported a net loss of $245.2 million, compared to a net loss of $73.1 million in the previous year.
MaxLinear's cash and cash equivalents as of December 31, 2024, were $118.6 million, with total liabilities of $348.4 million.
The company terminated its merger agreement with Silicon Motion on July 26, 2023, and is currently engaged in related legal proceedings.
MaxLinear completed workforce reductions in 2024, incurring $53.4 million in restructuring charges, up from $19.8 million in 2023.
The report highlights ongoing risks, including competition, global economic conditions, and reliance on a limited number of customers for revenue.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the MaxLinear Inc annual 10-K report dated January 29, 2025. To report an error, please email earnings@qz.com.