MaxLinear, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Net Income (Loss) Per Share

Net Income (Loss) Per Share

3 Months Ended

Mar. 31, 2024

Basic earnings per share, or EPS, is calculated by dividing net income (loss) by the weighted-average number of common shares outstanding for the period, without consideration for common stock equivalents. Diluted EPS is computed by dividing net income (loss) by the weighted-average number of common shares outstanding for the period and the weighted-average number of dilutive common stock equivalents outstanding for the period determined using the treasury-stock method. For purposes of this calculation, stock options and restricted stock units are considered to be common stock equivalents and are only included in the calculation of diluted EPS when their effect is dilutive. In periods in which the Company has a net loss, dilutive common stock equivalents are excluded from the calculation of diluted EPS.

The table below presents the computation of basic and diluted EPS:


	Three Months Ended March 31,
			2024		2023
		(in thousands, except per share amounts)
Numerator:
Net income (loss)			$	(72,309)	$	9,533
Denominator:
Weighted average common shares outstanding—basic			82,349		79,471
Dilutive common stock equivalents			—		1,867
Weighted average common shares outstanding—diluted			82,349		81,338
Net income (loss) per share:
Basic			$	(0.88)	$	0.12
Diluted			$	(0.88)	$	0.12

For the three months ended March 31, 2024 and 2023, the Company excluded common stock equivalents for outstanding stock-based awards, which represented potentially dilutive securities of 5.0 million and 2.2 million, respectively, from the calculation of diluted net income (loss) per share due to their anti-dilutive nature.