MaxLinear Reports Exit/Disposal Activities; Financial Impact Pending

TL;DR

**MaxLinear is undergoing exit or disposal activities, watch for financial details.**

AI Summary

MaxLinear, Inc. filed an 8-K on January 8, 2024, reporting an event that occurred on January 3, 2024. This filing indicates that the company is undertaking 'Cost Associated with Exit or Disposal Activities' and includes 'Financial Statements and Exhibits'. While specific dollar amounts are not detailed in this summary, the filing signals potential restructuring or divestment, which could impact future earnings and operational efficiency. Investors should monitor subsequent filings for details on the financial impact of these activities.

Why It Matters

This filing signals potential restructuring or divestment by MaxLinear, Inc., which could lead to one-time costs but also improve long-term efficiency or focus. Investors should watch for detailed financial disclosures to understand the full impact on the company's profitability and strategic direction.

Risk Assessment

Risk Level: medium — The filing indicates 'Cost Associated with Exit or Disposal Activities' without specific financial details, creating uncertainty about the immediate financial impact and potential benefits.

Analyst Insight

A smart investor would monitor MaxLinear's upcoming financial reports for detailed information on the costs and strategic rationale behind these exit or disposal activities, as they could impact future profitability and operational focus.

Key Players & Entities

• MaxLinear, Inc. (company) — the registrant filing the 8-K
• January 3, 2024 (date) — date of the earliest event reported
• January 8, 2024 (date) — date the 8-K was filed
• Nasdaq Stock Market LLC (company) — exchange where MaxLinear's common stock is registered

Forward-Looking Statements

• MaxLinear will provide more specific financial details regarding the 'Exit or Disposal Activities' in a subsequent filing. (MaxLinear, Inc.) — high confidence, target: Q1 2024 earnings report
• The 'Cost Associated with Exit or Disposal Activities' will result in a one-time charge against earnings. (MaxLinear, Inc.) — medium confidence, target: Next earnings report

FAQ

Key Financial Figures

• $0.0001 — ange on which registered Common stock, $0.0001 par value MXL The Nasdaq Stock Market L
• $10 million — ber 31, 2023, we incurred approximately $10 million to $11 million in restructuring costs p
• $11 million — e incurred approximately $10 million to $11 million in restructuring costs primarily relate
• $30 million — timate that we will incur approximately $30 million to $40 million in restructuring costs i
• $40 million — will incur approximately $30 million to $40 million in restructuring costs in 2024. Approxi

Filing Documents

• mxl-20240103.htm (8-K) — 32KB
• 0001288469-24-000004.txt ( ) — 191KB
• mxl-20240103.xsd (EX-101.SCH) — 2KB
• mxl-20240103_def.xml (EX-101.DEF) — 15KB
• mxl-20240103_lab.xml (EX-101.LAB) — 29KB
• mxl-20240103_pre.xml (EX-101.PRE) — 15KB
• mxl-20240103_htm.xml (XML) — 4KB

05 Costs Associated with Exit or Disposal Activities

Item 2.05 Costs Associated with Exit or Disposal Activities As previously disclosed the Form 10-Q for the quarter ended September 30, 2023, in October 2023, MaxLinear, Inc. ("we", "our" or "Company") initiated a reduction of our workforce, or the Workforce Reduction. The Workforce Reduction is intended to align our operational needs with the changes in macroeconomic conditions and the demand environment while continuing to support the long-term business strategy by reducing our operating expenses. As a result of the Workforce Reduction, in the three months ended December 31, 2023, we incurred approximately $10 million to $11 million in restructuring costs primarily related to severance costs and related expenses, and estimate that we will incur approximately $30 million to $40 million in restructuring costs in 2024. Approximately two-thirds of the cost is estimated to be statutory severance benefits in the jurisdictions in which the terminated employees were employed and a significant amount of the remaining one-third of the cost represents non-cash charges related to exiting facilities and writing off of related assets. The estimate of costs that we expect to incur, and the timing thereof, are subject to a number of assumptions and actual results may differ. We may also incur other charges or cash expenditures not currently contemplated due to events that may occur as a result of, or associated with, the Workforce Reduction. We expect to complete informing affected employees of the Workforce Reduction by the end of the first quarter of 2024. Cautionary Note Regarding Forward-Looking Statements This Current Report on Form 8-K contains forward-looking statements as that term is defined in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements involve substantial risks and uncertainties. All statements other than statements of historical facts contained in this Form 8-K are forward-looki

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits Exhibit Description 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) 2

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: January 8, 2024 MAXLINEAR, INC. (Registrant) By: /s/ Steven G. Litchfield Steven G. Litchfield Chief Financial Officer and Chief Corporate Strategy Officer 3

View Full Filing

View this 8-K filing on SEC EDGAR