MaxLinear Inc：FY24Q2业绩点评及法说会纪要：公司业绩有所承压，高速光学互连业务指引乐观

Investment Rating - The report does not explicitly state an investment rating for the company Core Insights - The company has experienced a significant decline in revenue, with Q2 2024 revenue reported at $91.99 million, a decrease of 50% year-over-year and 3% quarter-over-quarter, primarily due to weak broadband demand and a sluggish telecom market [41][63] - The company expects Q3 2024 revenue to be between$ 70 million and $90 million, with a GAAP gross margin projected at approximately 52.5% to 55.5% [4][32][68] - The company has achieved continuous improvement in orders over the past four quarters, although the recovery has not yet reached expected levels [7] Revenue Breakdown - For Q2 2024, the revenue by segment was as follows: Broadband revenue was$ 21.83 million, Connectivity revenue was $13.26 million, Infrastructure revenue was$ 31.79 million, and Industrial and multi-market revenue was $25.11 million [41][66] - The revenue by region for Q2 2024 was: Asia$ 72.43 million (79%), Europe $11.38 million (12%), United States$ 7.15 million (9%), and Other regions $1.03 million (1%) [66][67] Future Outlook - The company anticipates that its optical interconnect business will exceed$ 30 million in revenue this year, driven by ongoing collaborations with major data center clients [71] - The company is optimistic about the demand for PON (Passive Optical Network) market in 2025, particularly with Tier 1 customers [75] - The company plans to reduce non-GAAP operating expenses by approximately 20% to 25% in FY2025 compared to FY2024 [53][105]