___________________________________________
⁽¹⁾ Includes five months of Entropic cash flows.

MAXLINEAR, INC.
UNAUDITED GAAP CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands)
	September 30, 2016				June 30, 2016				September 30, 2015
Assets
Current assets:
Cash and cash equivalents	$	56,076			$	147,582			$	58,149
Short-term investments, available-for-sale	42,146				28,899				26,797
Accounts receivable, net	49,672				44,340				41,766
Inventory	32,119				25,604				36,265
Prepaid expenses and other current assets	6,831				4,982				4,500
Total current assets	186,844				251,407				167,477
Property and equipment, net	21,950				21,134				20,543
Long-term investments, available-for-sale	12,020				—				19,847
Intangible assets, net	109,885				60,675				79,655
Goodwill	75,794				56,714				49,373
Other long-term assets	1,883				1,982				5,715
Total assets	$	408,376			$	391,912			$	342,610
Liabilities and stockholders’ equity
Current liabilities	$	54,491			$	55,620			$	67,485
Other long-term liabilities	15,182				15,104				10,597
Total stockholders’ equity	338,703				321,188				264,528
Total liabilities and stockholders’ equity	$	408,376			$	391,912			$	342,610

MAXLINEAR, INC.
UNAUDITED RECONCILIATION OF NON-GAAP ADJUSTMENTS
(in thousands, except per share data)
	Three Months Ended
	September 30, 2016				June 30, 2016				September 30, 2015
GAAP cost of net revenue	$	40,820			$	38,774			$	44,141
Stock-based compensation	(57		)		(51		)		(73		)
Performance based equity	(23		)		165				(148		)
Amortization of inventory step-up	(2,653		)		(336		)		(958		)
Amortization of purchased intangible assets	(2,571		)		(1,787		)		(1,572		)
Impairment of production masks	—				—				(153		)
Non-GAAP cost of net revenue	35,516				36,765				41,237
GAAP R&D expenses	25,921				24,037				23,491
Stock-based compensation	(4,163		)		(3,136		)		(3,496		)
Incentive award compensation	(169		)		(168		)		—
Performance based equity	(838		)		(1,555		)		(1,182		)
Amortization of purchased intangible assets	(45		)		(148		)		(97		)
Severance charges	—				—				(173		)
Restricted merger proceeds and contingent consideration	(243		)		(208		)		(209		)
Non-GAAP R&D expenses	20,463				18,822				18,334
GAAP SG&A expenses	17,619				16,505				25,457
Stock-based compensation	(1,857		)		(1,696		)		(1,442		)
Incentive award compensation	(18		)		(51		)		—
Performance based equity	(896		)		(787		)		(753		)
Amortization of purchased intangible assets	(3,080		)		(662		)		(12,066		)
Acquisition and integration costs	(590		)		(1,338		)		(32		)
Restricted merger proceeds and contingent consideration	(99		)		(24		)		(9		)
Severance charges	—				—				(270		)
IP litigation costs, net	(12		)		(197		)		(144		)
Non-GAAP SG&A expenses	11,067				11,750				10,741
GAAP IPR&D impairment losses	1,300				—				—
IPR&D impairment losses	(1,300		)		—				—
Non-GAAP IPR&D impairment losses	—				—				—
GAAP restructuring expenses	—				—				425
Restructuring charges	—				—				(425		)
Non-GAAP restructuring expenses	—				—				—
GAAP income before income taxes	10,763				22,662				2,131
Total non-GAAP adjustments	18,614				11,979				23,202
Non-GAAP income before income taxes	29,377				34,641				25,333
GAAP income tax expense	1,084				78				549
Tax impact of non-GAAP adjustments	(537		)		670				131
Release of valuation allowance due to net deferred tax liability acquired	—				—				(341		)
Non-GAAP income tax expense	547				748				339
GAAP net income (loss)	$	9,679			$	22,584			$	1,582
Total non-GAAP adjustments before income taxes	18,614				11,979				23,202
Total tax adjustments	(537		)		670				(210		)
Non-GAAP net income	$	28,830			$	33,893			$	24,994
Shares used in computing non-GAAP basic net income per share	64,241				63,470				60,644
Shares used in computing non-GAAP diluted net income per share	67,832				67,520				63,209
Non-GAAP basic net income per share	$	0.45			$	0.53			$	0.41
Non-GAAP diluted net income per share	$	0.43			$	0.50			$	0.40

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