Document and Entity Information
Document and Entity Information - USD ($) | 3 Months Ended | ||
Mar. 31, 2016 | May. 04, 2016 | Jun. 30, 2015 | |
Entity Information [Line Items] | |||
Entity Registrant Name | MAXLINEAR INC | ||
Trading Symbol | MXL | ||
Entity Central Index Key | 1,288,469 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Filer Category | Accelerated Filer | ||
Document Type | 10-Q | ||
Document Period End Date | Mar. 31, 2016 | ||
Document Fiscal Year Focus | 2,016 | ||
Document Fiscal Period Focus | Q1 | ||
Amendment Flag | false | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Public Float | $ 649,471,493 | ||
Class A Common Stock [Member] | |||
Entity Information [Line Items] | |||
Entity Common Stock, Shares Outstanding | 56,378,170 | ||
Common Class B [Member] | |||
Entity Information [Line Items] | |||
Entity Common Stock, Shares Outstanding | 6,666,777 |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Current assets: | ||
Cash and cash equivalents | $ 76,840 | $ 67,956 |
Short-term investments, available-for-sale | 73,210 | 43,300 |
Accounts receivable, net | 41,040 | 42,399 |
Inventory | 29,421 | 32,443 |
Prepaid expenses and other current assets | 6,185 | 3,904 |
Total current assets | 226,696 | 190,002 |
Property and equipment, net | 21,538 | 21,858 |
Long-term investments, available-for-sale | 16,782 | 19,242 |
Intangible assets, net | 49,293 | 51,355 |
Goodwill | 49,779 | 49,779 |
Other long-term assets | 2,169 | 2,269 |
Total assets | 366,257 | 334,505 |
Current liabilities: | ||
Accounts payable | 7,818 | 6,389 |
Deferred revenue and deferred profit | 6,523 | 4,066 |
Accrued price protection liability | 18,443 | 20,026 |
Accrued expenses and other current liabilities | 17,269 | 15,368 |
Accrued compensation | 13,221 | 9,983 |
Total current liabilities | 63,274 | 55,832 |
Deferred rent | 10,195 | 11,427 |
Other long-term liabilities | $ 4,773 | 4,322 |
Commitments and contingencies | ||
Stockholders’ equity: | ||
Preferred Stock, Value, Issued | $ 0 | 0 |
Common stock | 0 | 0 |
Additional paid-in capital | 390,704 | 384,961 |
Accumulated other comprehensive loss | (588) | (822) |
Accumulated deficit | (102,108) | (121,221) |
Total stockholders’ equity | 288,015 | 262,924 |
Total liabilities and stockholders’ equity | 366,257 | 334,505 |
Class A Common Stock [Member] | ||
Stockholders’ equity: | ||
Common stock | 6 | 5 |
Common Class B [Member] | ||
Stockholders’ equity: | ||
Common stock | $ 1 | $ 1 |
CONSOLIDATED BALANCE SHEETS (UN
CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Parenthetical) - $ / shares | Dec. 31, 2015 | Dec. 31, 2014 |
Preferred stock, par value (usd per share) | $ 0.0001 | $ 0.0001 |
Preferred stock, shares authorized (shares) | 25,000,000 | 25,000,000 |
Preferred stock, shares issued (shares) | 0 | 0 |
Preferred stock, shares outstanding (shares) | 0 | 0 |
Common stock, par value (usd per share) | $ 0.0001 | $ 0.0001 |
Common stock, shares authorized (shares) | 550,000,000 | 550,000,000 |
Common stock, shares issued (shares) | 0 | 0 |
Common stock, shares outstanding (shares) | 0 | 0 |
Class A Common Stock [Member] | ||
Common stock, par value (usd per share) | $ 0.0001 | $ 0.0001 |
Common stock, shares authorized (shares) | 500,000,000 | 500,000,000 |
Common stock, shares issued (shares) | 56,322,000 | 55,737,000 |
Common stock, shares outstanding (shares) | 56,322,000 | 55,737,000 |
Class B Common Stock [Member] | ||
Common stock, par value (usd per share) | $ 0.0001 | $ 0.0001 |
Common stock, shares authorized (shares) | 500,000,000 | 500,000,000 |
Common stock, shares issued (shares) | 6,665,000 | 6,665,000 |
Common stock, shares outstanding (shares) | 6,665,000 | 6,665,000 |
CONSOLIDATED STATEMENTS OF OPER
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Income Statement [Abstract] | ||
Net revenue | $ 102,685 | $ 35,396 |
Cost of net revenue | 41,515 | 13,725 |
Gross profit | 61,170 | 21,671 |
Operating expenses: | ||
Research and development | 23,752 | 15,281 |
Selling, general and administrative | 13,610 | 10,944 |
Restructuring charges | 2,106 | 0 |
Total operating expenses | 39,468 | 26,225 |
Income (loss) from operations | 21,702 | (4,554) |
Interest income | 170 | 70 |
Other expense, net | (198) | (34) |
Income (loss) before income taxes | 21,674 | (4,518) |
Provision for income taxes | 2,558 | 204 |
Net income (loss) | $ 19,116 | $ (4,722) |
Net income (loss) per share: | ||
Basic (usd per share) | $ 0.31 | $ (0.12) |
Diluted (usd per share) | $ 0.29 | $ (0.12) |
Shares used to compute net income (loss) per share: | ||
Basic (shares) | 62,585 | 38,015 |
Diluted (shares) | 65,818 | 38,015 |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Statement of Comprehensive Income [Abstract] | ||
Net income (loss) | $ 19,116 | $ (4,722) |
Other comprehensive income, net of tax: | ||
Unrealized gain on investments, net of tax of $0 for the three months ended March 31, 2016 and 2015, respectively | (126) | (35) |
Unrealized gain on investments, net of tax | 126 | 35 |
Foreign currency translation adjustments, net of tax of $0 for the three months ended March 31, 2016 and 2015 | 108 | 12 |
Foreign currency translation adjustments, net of tax | 108 | 12 |
Other comprehensive income | 234 | 47 |
Total comprehensive income (loss) | $ 19,350 | $ (4,675) |
Statement of Comprehensive Inco
Statement of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | |
Statement of Comprehensive Income [Abstract] | ||||
Other comprehensive income (loss), Unrealized Holding Gain (Loss) on Securities Arising During the Period, tax | $ 0 | $ 0 | $ 0 | $ 0 |
Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Tax | $ 0 | $ 0 | $ 0 | $ 0 |
UNAUDITED CONSOLIDATED STATEMEN
UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Operating Activities | ||
Net income (loss) | $ 19,116 | $ (4,722) |
Adjustments to reconcile net income (loss) to cash provided by operating activities: | ||
Amortization and depreciation | 5,772 | 1,639 |
Provision for inventory reserves | 38 | 0 |
Amortization of investment premiums, net | 149 | 149 |
Stock-based compensation | 5,109 | 3,719 |
Deferred income taxes | 233 | 0 |
Change in fair value of contingent consideration | 86 | (183) |
Loss on foreign currency | 124 | 0 |
Changes in operating assets and liabilities: | ||
Accounts receivable | 1,359 | (2,143) |
Inventory | 2,984 | (1,991) |
Prepaid and other assets | (2,416) | (416) |
Accounts payable, accrued expenses and other current liabilities | 3,080 | 3,015 |
Accrued compensation | 3,231 | 1,874 |
Deferred revenue and deferred profit | 2,457 | 21 |
Accrued price protection liability | (1,583) | 2,647 |
Other long-term liabilities | (785) | 159 |
Net cash provided by operating activities | 38,954 | 3,768 |
Investing Activities | ||
Purchases of property and equipment | (3,222) | (1,024) |
Purchases of available-for-sale securities | (37,773) | (16,153) |
Maturities of available-for-sale securities | 10,300 | 16,190 |
Net cash used in investing activities | (30,695) | (987) |
Financing Activities | ||
Repurchases of common stock | (3) | 0 |
Net proceeds from issuance of common stock | 1,727 | 248 |
Minimum tax withholding paid on behalf of employees for restricted stock units | (1,092) | (265) |
Equity issuance costs | 0 | (697) |
Net cash provided by (used in) financing activities | 632 | (714) |
Effect of exchange rate changes on cash and cash equivalents | (7) | 6 |
Increase in cash and cash equivalents | 8,884 | 2,073 |
Cash and cash equivalents at beginning of period | 67,956 | 20,696 |
Cash and cash equivalents at end of period | 76,840 | 22,769 |
Supplemental disclosures of cash flow information: | ||
Cash paid for income taxes | 30 | 55 |
Accrued purchases of property and equipment | $ 165 | $ 87 |
Organization and Summary of Sig
Organization and Summary of Significant Accounting Policies | 3 Months Ended |
Mar. 31, 2016 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block] | Organization and Summary of Significant Accounting Policies Description of Business MaxLinear, Inc. was incorporated in Delaware in September 2003. MaxLinear, Inc., together with its wholly owned subsidiaries, collectively referred to as MaxLinear, or the Company, is a provider of radio-frequency and mixed-signal integrated circuits for cable and satellite broadband communications and the connected home, and for data center, metro, and long-haul transport network applications. MaxLinear's customers include module makers, original equipment manufacturers, or OEMs, and original design manufacturers, or ODMs, who incorporate the Company’s products in a wide range of electronic devices including Pay-TV operator set-top boxes, DOCSIS data and voice gateways, hybrid analog and digital televisions and consumer terrestrial set-top boxes, Direct Broadcast Satellite outdoor units, and optical modules for data center, metro, and long-haul transport network applications. The Company is a fabless semiconductor company focusing its resources on the design, sale and marketing of its products. Acquisition of Certain Assets and Assumption of Certain Liabilities of the Broadband Wireless Division of Microsemi Storage Solutions, Inc. (formerly known as PMC-Sierra, Inc.) On April 28, 2016 , the Company entered into an asset purchase agreement with Microsemi Storage Solutions, Inc., formerly known as PMC-Sierra, Inc., or Microsemi, and consummated the transactions contemplated by the asset purchase agreement. The Company paid cash consideration of $21.0 million for the purchase of certain wireless access assets of Microsemi's Broadband Wireless Division , and assumed certain liabilities. The assets acquired include, among other things, radio frequency and analog/mixed signal patents and other intellectual property, in-production and next-generation RF transceiver designs, a workforce-in-place, and other intangible assets, as well as tangible assets that include but are not limited to production masks and other production related assets, inventory, and other property, plant, and equipment. The liabilities assumed include, among other things, product warranty obligations and accrued vacation and severance obligations for employees of the Broadband Wireless Division that were rehired by the Company. The acquired assets and liabilities, together with the rehired employees, represent a business as defined in ASC 805, Business Combinations. The Company intends to integrate the acquired assets and rehired employees into the Company's existing business. The asset purchase agreement also contains customary representations, warranties and covenants, including non-competition, non-solicitation, and indemnification provisions set forth therein. In connection with the acquisition, the Company entered into a transition services agreement with Microsemi for the purpose of Microsemi providing interim operations, engineering and general and administrative support to the Company. The Company has not made all of the remaining disclosures required by ASC 805-10-50-2, Business Combinations, as it is currently in the process of completing the purchase accounting for the acquisition. The Company used cash and cash equivalents on hand of $21.0 million to fund the acquisition. Basis of Presentation and Principles of Consolidation The accompanying unaudited consolidated financial statements include the accounts of MaxLinear, Inc. and its wholly owned subsidiaries and have been prepared in accordance with accounting principles generally accepted in the United States of America, or GAAP, for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and disclosures required by GAAP for complete financial statements. All intercompany transactions and investments have been eliminated in consolidation. In the opinion of management, the Company’s unaudited consolidated interim financial statements contain adjustments, including normal recurring accruals necessary to present fairly the Company’s consolidated financial position, results of operations, comprehensive income (loss) and cash flows. The accompanying unaudited consolidated interim financial statements should be read in conjunction with the audited consolidated financial statements and related notes thereto for the year ended December 31, 2015 included in the Company’s Annual Report on Form 10-K filed by the Company with the Securities and Exchange Commission, or the SEC, on February 17, 2016, as amended by Amendment No. 1 filed with the SEC on April 28, 2016 , or the Annual Report. Certain prior period amounts have been reclassified to conform with current period presentation. Interim results for the three months ended March 31, 2016 are not necessarily indicative of the results that may be expected for the fiscal year ending December 31, 2016 . Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the unaudited consolidated financial statements and accompanying notes to unaudited consolidated financial statements. Actual results could differ from those estimates. Summary of Significant Accounting Policies Refer to the Company’s Annual Report for a summary of significant accounting policies. There have been no material changes to our significant accounting policies during the three months ended March 31, 2016 . Recent Accounting Pronouncements In May 2014, the Financial Accounting Standards Board, or FASB, issued new accounting guidance related to revenue recognition. This new standard will replace all current U.S. GAAP guidance on this topic and eliminate all industry-specific guidance. The new revenue recognition standard provides a unified model to determine when and how revenue is recognized. The core principle is that a company should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration for which the entity expects to be entitled in exchange for those goods or services. This guidance will be effective for the Company beginning in the first quarter of fiscal year 2018 and can be applied either retrospectively to each period presented or as a cumulative-effect adjustment as of the date of adoption. The Company is currently evaluating the impact of adopting this new accounting standard on its consolidated financial position and results of operations. In July 2015, the FASB issued ASU 2015-11, Simplifying the Measurement of Inventory, which requires inventory to be subsequently measured using the lower of cost and net realizable value. Net realizable value is the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal and transportation. The amendments in this Update are effective for the Company beginning in the first quarter of fiscal 2017 and should be applied prospectively. The Company is currently evaluating the impact that this guidance will have on the Company's consolidated financial position and results of operations. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842). The amendments in this Update require a lessee to recognize in the statement of financial position a liability to make lease payments (the lease liability) and a right-of-use asset representing its right to use the underlying asset for the lease term for all leases with terms greater than twelve months. For leases less than twelve months, an entity is permitted to make an accounting policy election by class of underlying asset not to recognize lease assets and lease liabilities. If a lessee makes this election, it should recognize lease expense for such leases generally on a straight-line basis over the lease term. The amendments in this Update are effective for the Company for fiscal years beginning with fiscal year 2019, including interim periods within those years, with early adoption permitted. The Company is currently in the process of evaluating the impact of adoption of the amendments in this Update on the Company’s consolidated financial position and results of operations; however, adoption of the amendments in this Update are expected to be material for most entities who have a material lease greater than twelve months. In March 2016, the FASB issued ASU No. 2016-08, Principal versus Agent Considerations (Reporting Revenue Gross versus Net ) to clarify the revenue recognition implementation guidance on principal versus agent considerations. The amendments in this Update clarify that when another party is involved in providing goods or services to a customer, an entity that is the principal has obtained control of a good or service before it is transferred to a customer, and provides indicators to assist an entity in determining whether it controls a specified good or service prior to the transfer to the customer. An entity that is the principal recognizes revenue in the gross amount of consideration to which it expects to be entitled in exchange for the specified good or service transferred to the customer, whereas an agent recognizes revenue in the amount of any fee or commission to which it expects to be entitled in exchange for arranging for the specified good or service to be provided by the other party. The amendments in this Update are effective for the Company beginning in the first quarter of fiscal year 2018, concurrent with the new revenue recognition standard. The Company is currently evaluating the impact of adopting the new revenue recognition accounting standard, including this Update, on its consolidated financial position and results of operations. In March 2016, the FASB issued ASU No. 2016-09, Improvements to Share-Based Compensation to simplify certain aspects of accounting for share-based payment transactions associated with income taxes, classification as equity or liabilities, and classification on the statement of cash flows. The amendments in this Update are effective for the Company for fiscal years beginning with fiscal year 2017, including interim periods within those years, with early adoption permitted. Early adoption, if elected, must be completed for all of the amendments in the same period. Amendments related to the timing of when excess tax benefits are recognized, minimum statutory withholding requirements, forfeitures, and intrinsic value should be applied using a modified retrospective transition method by means of a cumulative-effect adjustment to retained earnings as of the beginning of the period of adoption. Amendments related to the presentation of employee taxes paid on the statement of cash flows when an employer withholds shares to meet the minimum statutory withholding requirement should be applied retrospectively. Amendments requiring recognition of excess tax benefits and tax deficiencies in the income statement and the practical expedient for estimating expected term should be applied prospectively. An entity may elect to apply the amendments related to the presentation of excess tax benefits on the consolidated statement of cash flows using either a prospective transition method or a retrospective transition method. The Company is currently in the process of evaluating the full impact of adoption of the amendments in this Update on the Company’s consolidated financial position and results of operations, but believes that the amendments that require that all excess tax benefits and tax deficiencies be recognized as income tax expense or benefit in the income statement will reduce income tax expense on the consolidated financial statements. |
Net Income (Loss) Per Share
Net Income (Loss) Per Share | 3 Months Ended |
Mar. 31, 2016 | |
Earnings Per Share [Abstract] | |
Net Loss Per Share | Net Income (Loss) Per Share Net income (loss) per share is computed as required by the accounting standard for earnings per share, or EPS. Basic 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, common stock options, restricted stock units and restricted stock awards are considered to be common stock equivalents and are only included in the calculation of diluted EPS when their effect is dilutive. The Company has two classes of stock outstanding, Class A common stock and Class B common stock. The economic rights of the Class A common stock and Class B common stock, including rights in connection with dividends and payments upon a liquidation or merger are identical, and the Class A common stock and Class B common stock will be treated equally, identically and ratably, unless differential treatment is approved by the Class A common stock and Class B common stock, each voting separately as a class. The Company computes basic earnings per share by dividing net income (loss) by the weighted average number of shares of Class A and Class B common stock outstanding during the period. For diluted earnings per share, the Company divides net income (loss) by the sum of the weighted average number of shares of Class A and Class B common stock outstanding and the potential number of shares of dilutive Class A and Class B common stock outstanding during the period. Three Months Ended March 31, 2016 2015 Numerator: Net income (loss) $ 19,116 $ (4,722 ) Denominator: Weighted average common shares outstanding—basic 62,585 38,015 Dilutive common stock equivalents 3,233 — Weighted average common shares outstanding—diluted 65,818 38,015 Net income (loss) per share: Basic $ 0.31 $ (0.12 ) Diluted $ 0.29 $ (0.12 ) The Company excluded 0.2 million and 3.3 million common stock equivalents for the three months ended March 31, 2016 and 2015 , respectively, resulting from outstanding equity awards for the calculation of diluted net income (loss) per share due to their anti-dilutive nature. |
Business Combinations Business
Business Combinations Business Combinations (Notes) | 3 Months Ended |
Mar. 31, 2016 | |
Business Combinations [Abstract] | |
Business Combination Disclosure [Text Block] | Business Combination Acquisition of Entropic Communications, Inc. On April 30, 2015, the Company completed its acquisition of Entropic Communications, Inc., or Entropic, for aggregate consideration of $289.4 million , which was comprised of the equity value of shares of the Company's common stock that were issued in the transaction of $173.8 million , the portion of outstanding equity awards deemed to have been earned as of April 30, 2015 of $4.5 million and cash of $111.1 million . Refer to Note 4 for disclosures following this acquisition for the three months ended March 31, 2016 and 2015. Acquisition of Physpeed, Co., Ltd. On October 31, 2014 , the Company acquired 100% of the outstanding common shares of Physpeed Co., Ltd., or Physpeed, a privately held developer of high-speed physical layer interconnect products addressing enterprise and telecommunications infrastructure market applications. The Company paid $9.3 million in cash in exchange for all outstanding shares of capital stock and equity of Physpeed. Consideration payable of $1.1 million to the former shareholders of Physpeed was placed into escrow pursuant to the terms of the definitive merger agreement. The following disclosures regarding this acquisition are for the three months ended March 31, 2016 . Compensation Arrangements In connection with the acquisition of Physpeed, the Company agreed to pay additional consideration in future periods. The definitive merger agreement provided for potential consideration of $1.7 million of held back merger proceeds for the former principal shareholders of Physpeed which will be paid over a two year period contingent upon continued employment. Quarterly payments of $0.2 million began on January 31, 2015 and will end on October 31, 2016. Certain employees of Physpeed will be paid a total of $0.1 million of which $0.07 million was paid in 2015 and $0.05 million will be paid in 2016. These payments are accounted for as transactions separate from the business combination as the payments are contingent upon continued employment and will be recorded as post-combination compensation expense in the Company's financial statements during the service period. Earn-Out The definitive merger agreement also provides for potential earn-out consideration of up to $0.75 million to the former shareholders of Physpeed for the achievement of certain 2015 and 2016 revenue milestones. The contingent earn-out consideration had an estimated fair value of $0.3 million at the date of acquisition. The 2015 earn-out amount is determined by multiplying the based amount of $0.375 million by a 2015 revenue percentage that is defined in the definitive merger agreement. The 2016 earn-out amount is determined by multiplying $0.375 million by a 2016 revenue percentage that is defined in the definitive merger agreement. Subsequent changes to the fair value are recorded through earnings. The fair value of the earn-out was $0.2 million and $0.4 million at March 31, 2016 and December 31, 2015 , respectively. During the three months ended March 31, 2016 , the Company paid $0.2 million related to this earn-out (Note 6). Restricted Stock Units The Company agreed to grant restricted stock units, or RSUs, under its equity incentive plan to Physpeed continuing employees if certain 2015 and 2016 revenue targets are met contingent upon continued employment. Qualifying revenues are the net revenues recognized directly attributable to sales of Physpeed products or the Company’s provision of non-recurring engineering services exclusively with respect to the Physpeed products. The Company recorded compensation expense for the 2015 RSUs, over a 14 month service period from October 31, 2014 through December 31, 2015. The Company records compensation expense for the 2016 RSUs over a 26 month service period, which had started from October 31, 2014 and running through December 31, 2016. The Company has recorded an accrual for the stock-based compensation expense for the 2015 and 2016 RSUs of $1.0 million and $1.9 million at March 31, 2016 and December 31, 2015, respectively. The Company had issued the 2015 RSUs at February 2016 and no related accrual for the 2015 revenue period was outstanding at March 31, 2016 . |
Restructuring Activity
Restructuring Activity | 3 Months Ended |
Mar. 31, 2016 | |
Restructuring and Related Activities [Abstract] | |
Restructuring Activity | Restructuring Activity In connection with the Company's acquisition of Entropic, the Company entered into a restructuring plan to address matters primarily relating to the integration of the Company and Entropic businesses. In connection with this plan, the Company has terminated the employment of 87 Entropic employees since the acquisition closing date. The Company did not incur any associated employee separation charges for the three months ended March 31, 2016 , as the Company did not have such terminations during the quarter. Additionally, in connection with the restructuring plan, the Company ceased use of the former Entropic headquarters in 2015. During the three months ended March 31, 2016 , the Company recognized lease charges of $2.0 million based on the adjustment to the net present value of the remaining lease obligation on the cease of use date as well as the execution of the final sublease. The Company believes all charges have been incurred related to restructuring as of March 31, 2016. The following table presents the activity related to the plan, which is included in restructuring charges in the Consolidated Statements of Operations: Three Months Ended March 31, 2016 (in thousands) Lease related charges (1) $ 1,976 Other 130 $ 2,106 ____________________________ (1) Includes $0.4 million in offsets to restructuring charges related to an Entropic lease that was restructured prior to the completion of the acquisition by MaxLinear. The Company recorded an adjustment to the lease restructuring due to changes in market conditions. The following table presents a roll-forward of the Company's restructuring liability as of March 31, 2016 , which is included in accrued expenses and other current liabilities in the Consolidated Balance Sheets: Employee Separation Expenses Lease Related Charges Other Total (in thousands) Liability as of December 31, 2015 $ 75 $ 1,557 $ 1 $ 1,633 Restructuring charges (1) — 1,976 130 2,106 Cash payments (8 ) (1,323 ) (20 ) (1,351 ) Liability as of March 31, 2016 $ 67 $ 2,210 $ 111 $ 2,388 ____________________________ (1) Includes $0.4 million in offsets to restructuring charges related to an Entropic lease that was restructured during to the completion of the acquisition by MaxLinear. The Company recorded an adjustment to the lease restructuring due to changes in market conditions. |
Goodwill and Intangible Assets
Goodwill and Intangible Assets Goodwill and Intangible Assets (Notes) | 3 Months Ended |
Mar. 31, 2016 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Intangible Assets | Goodwill and Intangible Assets Goodwill We had no changes in the carrying amount of goodwill in the three months ended March 31, 2016 . The carrying value of goodwill was $49.8 million as of March 31, 2016 . Goodwill is not amortized, but is tested for impairment using a two-step method on an annual basis and whenever events or changes in circumstances indicate that the carrying value may not be recoverable. The recoverability of goodwill is measured at the reporting unit level by comparing the reporting unit’s carrying amount, including goodwill, to the fair market value of the reporting unit. No goodwill impairment was recognized as of March 31, 2016 . Acquired Intangibles Finite-lived Intangible Assets The following table sets forth the Company’s finite-lived intangible assets resulting from business acquisitions and technology licenses purchased, which continue to be amortized: March 31, 2016 December 31, 2015 Weighted Average Useful Life (in Years) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Value Accumulated Amortization Net Carrying Amount (in thousands) Licensed technology 3 $ 2,921 $ (2,813 ) $ 108 $ 2,921 $ (2,725 ) $ 196 Developed technology 7 47,000 (6,331 ) 40,669 47,000 (4,652 ) 42,348 Trademarks and trade names 7 1,700 (222 ) 1,478 1,700 (162 ) 1,538 Customer relationships 5 4,700 (862 ) 3,838 4,700 (627 ) 4,073 Backlog 1 24,200 (24,200 ) — 24,200 (24,200 ) — $ 80,521 $ (34,428 ) $ 46,093 $ 80,521 $ (32,366 ) $ 48,155 The amortization expense related to intangible assets in the three months ended March 31, 2016 and 2015 was $2.1 million and $0.2 million , respectively. There were no additions to intangible assets or impairments of intangible assets in the three months ended March 31, 2016 . The following table presents future amortization of the Company’s intangible assets at March 31, 2016 : Amortization 2016 (nine months) $ 5,981 2017 7,931 2018 7,914 2019 7,897 2020 7,270 Thereafter 9,100 Total $ 46,093 Indefinite-lived Intangible Assets In the three months ended March 31, 2016 , there were no additions to, impairments of, or transfers of acquired indefinite-lived intangible assets, or IPR&D. The carrying value of IPR&D was $3.2 million at March 31, 2016 . |
Financial Instruments
Financial Instruments | 3 Months Ended |
Mar. 31, 2016 | |
Fair Value Disclosures [Abstract] | |
Financial Instruments | Financial Instruments The composition of financial instruments is as follows: March 31, 2016 Amortized Gross Unrealized Fair Gains Losses (in thousands) Assets Money market funds $ 29,828 $ — $ — $ 29,828 Government debt securities 35,332 9 (3 ) 35,338 Corporate debt securities 54,649 18 (13 ) 54,654 119,809 27 (16 ) 119,820 Less amounts included in cash and cash equivalents (29,828 ) — — (29,828 ) $ 89,981 $ 27 $ (16 ) $ 89,992 Fair Value at March 31, 2016 (in thousands) Liabilities Contingent Consideration $ 241 Total $ 241 December 31, 2015 Amortized Gross Unrealized Fair Gains Losses (in thousands) Assets Money market funds $ 17,144 $ — $ — $ 17,144 Government debt securities 17,303 — (30 ) 17,273 Corporate debt securities 45,353 — (84 ) 45,269 79,800 — (114 ) 79,686 Less amounts included in cash and cash equivalents (17,144 ) — — (17,144 ) $ 62,656 $ — $ (114 ) $ 62,542 Fair Value at December 31, 2015 (in thousands) Liabilities Contingent Consideration $ 395 Total $ 395 At March 31, 2016 , the Company held 24 government and corporate debt securities with an aggregate fair value of $38.0 million that were in an unrealized loss position for less than 12 months . The gross unrealized losses of $0.02 million at March 31, 2016 represent temporary impairments on government and corporate debt securities related to multiple issuers, and were primarily caused by fluctuations in U.S. interest rates. The Company evaluates securities for other-than-temporary impairment on a quarterly basis. Impairment is evaluated considering numerous factors, and their relative significance varies depending on the situation. Factors considered include the length of time and extent to which fair value has been less than the cost basis, the financial condition and near-term prospects of the issuer; including changes in the financial condition of the security’s underlying collateral; any downgrades of the security by a rating agency; nonpayment of scheduled interest, or the reduction or elimination of dividends; as well as our intent and ability to hold the security in order to allow for an anticipated recovery in fair value. All of the Company’s long-term available-for-sale securities were due between 1 and 2 years as of March 31, 2016 . The fair values of the Company’s financial instruments are the amounts that would be received in an asset sale or paid to transfer a liability in an orderly transaction between unaffiliated market participants and are recorded using a hierarchal disclosure framework based upon the level of subjectivity of the inputs used in measuring assets and liabilities. The levels are described below: Level 1: Quoted prices (unadjusted) in active markets that are accessible at the measurement date for assets or liabilities. Level 2: Observable prices that are based on inputs not quoted on active markets, but corroborated by market data. Level 3: Unobservable inputs are used when little or no market data is available. The Company classifies its financial instruments within Level 1 or Level 2 of the fair value hierarchy on the basis of valuations using quoted market prices or alternate pricing sources and models utilizing market observable inputs, respectively. The Company’s money market funds were valued based on quoted prices for the specific securities in an active market and were therefore classified as Level 1. The government and corporate debt securities have been valued on the basis of valuations provided by third-party pricing services, as derived from such services’ pricing models. The pricing services may use a consensus price which is a weighted average price based on multiple sources or mathematical calculations to determine the valuation for a security, and have been classified as Level 2. The Company reviews Level 2 inputs and fair value for reasonableness and the values may be further validated by comparison to independent pricing sources. In addition, the Company reviews third-party pricing provider models, key inputs and assumptions and understands the pricing processes at its third-party providers in determining the overall reasonableness of the fair value of its Level 2 financial instruments. As of March 31, 2016 , the Company has not made any adjustments to the prices obtained from its third party pricing providers. The contingent liability is classified as Level 3 as of March 31, 2016 and December 31, 2015 and is valued using an internal rate of return model. The assumptions used in preparing the internal rate of return model include estimates for future revenues related to Physpeed products and services and a discount factor of 0.64 at March 31, 2016 and 0.41 at December 31, 2015 . The assumptions used in preparing the internal rate of return model include estimates for outcome if milestone goals are achieved, the probability of achieving each outcome and discount rates. Significant changes in any of the unobservable inputs used in the fair value measurement of contingent consideration in isolation could result in a significantly lower or higher fair value. A change in estimated future revenues would be accompanied by a directionally similar change in fair value. The following table presents a summary of the Company’s financial instruments that are measured on a recurring basis: Fair Value Measurements at March 31, 2016 Balance at March 31, 2016 Quoted Prices Significant Significant (in thousands) Assets Money market funds $ 29,828 $ 29,828 $ — $ — Government debt securities 35,338 — 35,338 — Corporate debt securities 54,654 — 54,654 — $ 119,820 $ 29,828 $ 89,992 $ — Liabilities Contingent consideration $ 241 $ — $ — $ 241 $ 241 $ — $ — $ 241 Fair Value Measurements at December 31, 2015 Balance at December 31, 2015 Quoted Prices Significant Significant (in thousands) Assets Money market funds $ 17,144 $ 17,144 $ — $ — Government debt securities 17,273 — 17,273 — Corporate debt securities 45,269 — 45,269 — $ 79,686 $ 17,144 $ 62,542 $ — Liabilities Contingent consideration $ 395 $ — $ — $ 395 $ 395 $ — $ — $ 395 The following summarizes the activity in Level 3 financial instruments: Three Months Ended March 31, 2016 2015 (in thousands) Contingent Consideration (1) Beginning balance $ 395 $ 265 Physpeed earn-out payment (240 ) — (Gain) loss recognized in earnings (2) 86 (183 ) Ending balance $ 241 $ 82 Net gain (loss) for the period included in earnings attributable to contingent consideration held at the end of the period: $ (86 ) $ 183 (1) In connection with the acquisition of Physpeed, the Company recorded contingent consideration based upon the expected achievement of 2016 revenue milestones. Changes to the fair value of contingent consideration due to changes in assumptions used in preparing the valuation model are recorded in selling, general and administrative expense in the statement of operations. (2) Changes to the estimated fair value of contingent consideration for the three months ended March 31, 2016 were primarily due to updates to present value discount factors. Changes to the estimated fair value of contingent consideration for the three months ended March 31, 2015 were primarily due to revisions to the Company's expectations of earn-out achievement. There were no transfers between Level 1, Level 2 or Level 3 financial instruments in |
Balance Sheet Details
Balance Sheet Details | 3 Months Ended |
Mar. 31, 2016 | |
Balance Sheet Related Disclosures [Abstract] | |
Balance Sheet Details | Balance Sheet Details Cash and cash equivalents and investments consist of the following: March 31, 2016 December 31, 2015 (in thousands) Cash and cash equivalents $ 76,840 $ 67,956 Short-term investments 73,210 43,300 Long-term investments 16,782 19,242 $ 166,832 $ 130,498 Inventory consists of the following: March 31, 2016 December 31, 2015 (in thousands) Work-in-process $ 14,866 $ 15,713 Finished goods 14,555 16,730 $ 29,421 $ 32,443 Property and equipment consist of the following: Useful Life March 31, 2016 December 31, 2015 (in thousands) Furniture and fixtures 5 $ 2,494 $ 2,458 Machinery and equipment 3 -5 23,914 23,679 Masks and production equipment 2 8,084 8,062 Software 3 3,022 3,017 Leasehold improvements 4 -5 11,363 9,573 Construction in progress N/A 377 62 49,254 46,851 Less accumulated depreciation and amortization (27,716 ) (24,993 ) $ 21,538 $ 21,858 Deferred revenue and deferred profit consist of the following: March 31, 2016 December 31, 2015 (in thousands) Deferred revenue—rebates $ 122 $ 118 Deferred revenue—distributor transactions 9,162 5,695 Deferred cost of net revenue—distributor transactions (2,761 ) (1,747 ) $ 6,523 $ 4,066 Accrued price protection liability consists of the following activity: Three Months Ended March 31, 2016 2015 (in thousands) Beginning balance $ 20,026 $ 10,018 Charged as a reduction of revenue 10,243 6,009 Reversal of unclaimed rebates (1,302 ) (12 ) Payments (10,524 ) (3,350 ) Ending balance $ 18,443 $ 12,665 Accrued expenses and other current liabilities consist of the following: March 31, 2016 December 31, 2015 (in thousands) Accrued technology license payments $ 3,000 $ 3,000 Accrued professional fees 786 1,196 Accrued restructuring 2,388 1,633 Accrued litigation costs 85 534 Accrued royalty 2,453 2,042 Accrued leases - other 1,306 — Other 7,251 6,963 $ 17,269 $ 15,368 |
Stock-Based Compensation
Stock-Based Compensation | 3 Months Ended |
Mar. 31, 2016 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Stock-Based Compensation and Employee Benefit Plans | Stock-Based Compensation and Employee Benefit Plans Refer to the Company’s Annual Report for a summary of the stock-based compensation and equity plans. There have been no material changes to such plans during the three months ended March 31, 2016 . Stock-Based Compensation The Company uses the Black-Scholes valuation model to calculate the fair value of stock options and employee stock purchase rights granted to employees. The Company calculates the fair value of RSUs, and restricted stock awards, or RSAs, based on the fair market value of our Class A common stock on the grant date. The weighted-average grant date fair value per share of the RSUs and RSAs granted in the three months ended March 31, 2016 was $14.04 . The weighted-average grant date fair value per share of the RSUs and RSAs granted in the three months ended March 31, 2015 was $8.22 . No stock options were granted during the three months ended March 31, 2016 and 2015 . The Company recognized stock-based compensation in the consolidated statements of operations, based on the department to which the related employee reports, as follows: Three Months Ended March 31, 2016 2015 (in thousands) Cost of net revenue $ 43 $ 35 Research and development 3,279 2,340 Selling, general and administrative 1,787 1,344 $ 5,109 $ 3,719 The total unrecognized compensation cost related to unvested stock options as of March 31, 2016 was $1.3 million , and the weighted average period over which these equity awards are expected to vest is 1.18 years. The total unrecognized compensation cost related to unvested RSUs and RSAs as of March 31, 2016 was $30.7 million , and the weighted average period over which these equity awards are expected to vest is 2.63 years. The Company records equity instruments issued to non-employees as expense at their fair value over the related service period as determined in accordance with the authoritative guidance and periodically revalues the equity instruments as they vest. Stock-based compensation expense related to non-employee consultants totaled $0.1 million in the three months ended March 31, 2016 and 2015 . In connection with the acquisition of Entropic, the Company assumed stock options and RSUs originally granted by Entropic. Stock-based compensation expense in the three months ended March 31, 2016 included $0.3 million in assumed Entropic stock options and RSUs. Employee Incentive Bonus At March 31, 2016 , an accrual of $3.5 million was recorded for bonus awards for employees for the July 1, 2015 - December 31, 2015 performance period, which the Company intends to settle in shares of its Class A common stock issued in May 2016 under its 2010 Equity Incentive Plan, as amended, with the number of shares issuable to plan participants determined based on the closing sales price of the Company’s Class A common stock as determined in trading on the New York Stock Exchange at a date to be determined. The Company's compensation committee retains discretion to effect payment in cash, stock, or a combination of cash and stock. Restricted Stock Units and Restricted Stock Awards The Company calculates the fair value of restricted stock units and restricted stock awards based on the fair market value of the Company’s Class A common stock on the grant date. Stock-based compensation expense is recognized over the vesting period using the straight-line method and is classified in the consolidated statements of operations based on the department to which the related employee reports. A summary of the Company’s restricted stock unit and restricted stock award activity is as follows: Number of Shares (in thousands) Weighted-Average Grant-Date Fair Value per Share Outstanding at December 31, 2015 3,642 $ 9.19 Granted 751 14.04 Vested (471 ) 9.70 Canceled (58 ) 10.56 Outstanding at March 31, 2016 3,864 10.06 The intrinsic value of restricted stock units and restricted stock awards vested during the three months ended March 31, 2016 was $71.4 million . The intrinsic value of restricted stock units and restricted stock awards outstanding at March 31, 2016 was $7.4 million . Shares Reserved for Future Issuance As of March 31, 2016 , common stock reserved for future issuance is as follows: Number of Shares (in thousands) Stock options outstanding 3,359 Restricted stock units and restricted stock awards outstanding 3,864 Authorized for future grants under 2010 Equity Incentive Plan 6,556 Authorized for future issuance under 2010 Employee Stock Purchase Plan 1,247 Total 15,026 On January 1, 2016 , 2.5 million shares of Class A common stock were automatically added to the shares authorized for issuance under the 2010 Equity Incentive Plan pursuant to an “evergreen” provision contained in the 2010 Equity Incentive Plan. In addition, 0.8 million shares of Class A common stock were automatically added to the shares authorized for issuance under the 2010 Employee Stock Purchase Plan pursuant to an “evergreen” provision contained in the 2010 Employee Stock Purchase Plan. |
Income Taxes
Income Taxes | 3 Months Ended |
Mar. 31, 2016 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Income Taxes In order to determine the quarterly provision for income taxes, the Company used an estimated annual effective tax rate, which is based on expected annual income and statutory tax rates in the various jurisdictions in which the Company operates. The provision for income taxes primarily relates to projected current federal and state income taxes and income taxes in certain foreign jurisdictions. Certain significant or unusual items are separately recognized in the quarter during which they occur and can be a source of variability in the effective tax rates from quarter to quarter. The Company utilizes the asset and liability method of accounting for income taxes. The Company records deferred tax assets to the extent it believes these assets will more likely than not be realized. In making such determination, the Company considers all available positive and negative evidence quarterly, including scheduled reversals of deferred tax liabilities, projected future taxable income, tax planning strategies, and recent financial performance. Based upon the Company's review of all positive and negative evidence, including its three year U.S. cumulative pre-tax book loss and taxable loss, the Company concluded that a full valuation allowance should continue to be recorded against its U.S. net deferred tax assets at March 31, 2016 . Additionally, the Company completed the acquisition of Entropic in the second quarter 2015. As a result of the acquisition, there was a valuation allowance release that resulted in a tax benefit of $1.8 million due to the purchase accounting adjustment for the net deferred tax liability. Furthermore, the Company does not incur expense or benefit in the certain tax free jurisdictions in which it operates. The Company recorded a provision for income taxes of $2.6 million and $0.2 million for the three months ended March 31, 2016 and 2015 , respectively. The provision for income taxes for the three months ended March 31, 2016 primarily relates to federal alternative minimum tax due to the Company’s limitation on use of net operating losses, state income taxes, and income taxes in certain foreign jurisdictions. The impact of the federal alternative minimum tax will be reduced when the Company adopts ASU No. 2016-09, Improvements to Share-Based Compensation , since net excess tax benefits will then be recognized in income tax expense or benefit in the statement of operations (Note 1). The provision for income taxes for the three months ended March 31, 2015 primarily relates to income taxes in certain foreign jurisdictions. During the three months ended March 31, 2016 , the Company’s unrecognized tax benefits increased by $0.3 million . The Company expects decreases to its unrecognized tax benefits of $0.1 million within twelve months, due to the lapse of statutes of limitations. Accrued interest and penalties associated with uncertain tax positions as of March 31, 2016 were $0.1 million and $0.05 million , respectively. The Company is not currently under examination in any jurisdictions. |
Significant Customer and Geogra
Significant Customer and Geographic Information | 3 Months Ended |
Mar. 31, 2016 | |
Risks and Uncertainties [Abstract] | |
Significant Customer and Geographic Information | Concentration of Credit Risk and Significant Customers Financial instruments, which potentially subject the Company to concentrations of credit risk, consist primarily of cash and cash equivalents and accounts receivable. The Company limits its exposure to credit loss by placing its cash with high credit quality financial institutions. At times, such deposits may be in excess of insured limits. The Company has not experienced any losses on its deposits of cash and cash equivalents. The Company markets its products and services to manufacturers of wired and wireless communications equipment throughout the world. The Company makes periodic evaluations of the credit worthiness of its customers and does not require collateral for credit sales. Customers greater than 10% of net revenues for each of the periods presented are as follows: Three Months Ended March 31, 2016 2015 Percentage of total net revenue Arris 24 % 29 % Cisco (1) 18 % 14 % WNC Corporation 14 % * * Represents less than 10% of the net revenue for the respective period. (1) In November 2015, Technicolor completed its purchase of Cisco’s connected devices business. In the three months ended March 31, 2015 , the revenue percentage above does not include the 2% revenue from Technicolor. Products shipped to international destinations representing greater than 10% of net revenue for each of the periods presented are as follows: Three Months Ended March 31, 2016 2015 Percentage of total net revenue China 81 % 71 % The determination of which country a particular sale is allocated to is based on the destination of the product shipment. Balances greater than 10% of accounts receivable are as follows: March 31, December 31, 2016 2015 Percentage of gross accounts receivable WNC Corporation 19 % 16 % Pegatron Corporation 16 % 17 % Sernet Technologies Corporation 13 % 14 % MTI Jupiter Technologies * 13 % * Represents less than 10% of the gross accounts receivable for the respective period end. |
Commitments and Contingencies
Commitments and Contingencies | 3 Months Ended |
Mar. 31, 2016 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Commitments and Contingencies Lease Commitments and Other Contractual Obligations The Company leases facilities and certain equipment under operating lease arrangements expiring at various years through fiscal 2022 . As of March 31, 2016 , future minimum payments under non-cancelable operating leases, other obligations, and inventory purchase obligations are as follows: Operating Leases Other Obligations Inventory Purchase Obligations Total (in thousands) 2016 (nine months) $ 5,991 $ 5,708 $ 19,297 $ 30,996 2017 6,809 4,948 — 11,757 2018 6,001 830 — 6,831 2019 5,678 — — 5,678 2020 6,024 — — 6,024 Thereafter 7,590 — — 7,590 Total minimum payments $ 38,093 $ 11,486 $ 19,297 $ 68,876 On May 6, 2015 , the Company amended a lease arrangement with The Campus Carlsbad, LLC, so that the current Carlsbad office space of approximately 45,000 square feet will be expanded to include an additional 24,000 square feet of space. The original lease, which had a term of three years and seven months with an original expiration date of November 30, 2019, was extended to an expiration date of June 30, 2022. During 2015, the Company has begun significant tenant improvement activities to expand into this office space. The Company was provided a tenant improvement allowance of approximately $1,543,000 for tenant improvement costs and related fees and expenses. On November 11, 2015 , the Company entered into a real property lease with The Northwestern Mutual Life Insurance Company, a Wisconsin corporation, with respect to the lease of approximately 50,235 square feet of office and laboratory space located at 50 Parker in Irvine, California. The Company expects to relocate current operations in Irvine, California to the new facility in May 2016. The lease has an initial term of six years and two months, commencing on the later of (i) April 1, 2016 or (i) the date upon which certain building and tenant improvements have been substantially completed and possession of the substantially completed premises has been tendered by the landlord to the Company. The base monthly rent under the lease is approximately $68,000 per month during the first year of the initial lease term, increasing to approximately $86,000 per month during the last year of the initial lease term. The lease contains an option to extend the lease term for a single, five -year period. If the lease term is extended for the optional five -year period, the monthly base rent will be adjusted based on the fair market rental value. In addition to base rent, the Company has agreed to pay for a proportional share of the common area operating expenses and real property taxes. The lease includes customary provisions providing for late fees for unpaid rent, landlord access to the property, insurance obligations and events of default. In addition, this agreement includes tenant improvement incentives of $2.7 million . Entropic Communications Merger Litigation Between February 9, 2015 and February 18, 2015, eleven stockholder class action complaints (captioned Langholz v. Entropic Communications, Inc., et al. , C.A. No. 10631-VCP (filed Feb. 9, 2015); Tomblin v. Entropic Communications, Inc. , C.A. No. 10632-VCP (filed Feb. 9, 2015); Crill v. Entropic Communications, Inc., et al. , C.A. No. 10640-VCP (filed Feb. 11, 2015); Wohl v. Entropic Communications, Inc., et al. , C.A. No. 10644-VCP (filed Feb. 11, 2015); Parshall v. Entropic Communications, Inc., et al. , C.A. No. 10652-VCP (filed Feb. 12, 2015); Saggar v. Padval, et al. , C.A . No. 10661-VCP (filed Feb. 13, 2015); Iyer v. Tewksbury, et al. , C.A. No. 10665-VCP (filed Feb. 13, 2015); Respler v. Entropic Communications, Inc., et al. , C.A. No. 10669-VCP (filed Feb. 17, 2015); Gal v. Entropic Communications, Inc., et al. , C.A. No. 10671-VCP (filed Feb. 17, 2015); Werbowsky v. Padval, et al. , C.A. No. 10673-VCP (filed Feb. 18, 2015); and Agosti v. Entropic Communications, Inc. , C.A. No. 10676-VCP (filed Feb. 18, 2015)) were filed in the Court of Chancery of the State of Delaware, or the Court, on behalf of a putative class of Entropic stockholders alleging that the board of directors of Entropic breached its fiduciary duties in connection with the then-proposed acquisition of Entropic by the Company and that the Company aided and abetted such breaches. Plaintiffs in the complaints sought, among other things, to enjoin the defendants from consummating the proposed transaction. On April 16, 2015, the Court entered an order consolidating the Delaware actions, captioned In re Entropic Communications, Inc. Consolidated Stockholders Litigation, C.A. No. 10631-VCP , or the Consolidated Action. On April 24, 2015, the parties to the Consolidated Action entered into a memorandum of understanding regarding a proposed settlement of the Delaware actions. As part of the proposed settlement, on April 27, 2015, Entropic filed a Form 8-K containing supplemental disclosures in connection with the acquisition. On April 30, 2015, Entropic’s stockholders voted to approve the acquisition, which closed later that same day. The parties to the Consolidation Action subsequently agreed not to proceed with the settlement and, instead, on February 23, 2016, entered into a stipulation and proposed order dismissing the Consolidated Action as moot and setting a briefing schedule for plaintiffs’ counsel to make an application for an award of attorneys’ fees and expenses from the Court, which the Court entered on February 25, 2016. After negotiations, the Company agreed to pay fees and expenses to plaintiffs’ counsel in the amount of $150,000 . On March 18, 2016, the Court entered an order vacating the briefing schedule for plaintiffs’ counsel’s application for an award of attorneys’ fees and expenses and providing that dismissal of the Consolidated Action was final. CrestaTech Litigation On January 21, 2014, CrestaTech Technology Corporation, or CrestaTech, filed a complaint for patent infringement against us in the United States District Court of Delaware, or the District Court Litigation. In its complaint, CrestaTech alleges that we infringe U.S. Patent Nos. 7,075,585, or the ’585 Patent, and 7,265,792. In addition to asking for compensatory damages, CrestaTech alleges willful infringement and seeks a permanent injunction. CrestaTech also names Sharp Corporation, Sharp Electronics Corp. and VIZIO, Inc. as defendants based upon their alleged use of our television tuners. On January 28, 2014, CrestaTech filed a complaint with the U.S. International Trade Commission, or ITC, again naming, among others, MaxLinear, Sharp, Sharp Electronics, and VIZIO, or the ITC Investigation. On May 16, 2014, the ITC granted CrestaTech’s motion to file an amended complaint adding six OEM Respondents, namely, SIO International, Inc., Hon Hai Precision Industry Co., Ltd., Wistron Corp., Wistron Infocomm Technology (America) Corp., Top Victory Investments Ltd. and TPV International (USA), Inc. MaxLinear, Sharp and VIZIO, are collectively referred to as the Company Respondents. CrestaTech’s ITC complaint alleged a violation of 19 U.S.C. § 1337 through the importation into the United States, the sale for importation, or the sale within the United States after importation of the Company’s accused products that CrestaTech alleged infringe the same two patents asserted in the Delaware action. Through its ITC complaint, CrestaTech sought an exclusion order preventing entry into the United States of certain of the Company's television tuners and televisions containing such tuners from Sharp, Sharp Electronics, and VIZIO. CrestaTech also sought a cease and desist order prohibiting the Company Respondents from engaging in the importation into, sale for importation into, the sale after importation of, or otherwise transferring within the United States certain of the Company's television tuners or televisions containing such tuners. On March 10, 2014, the court stayed the District Court Litigation pending resolution of the ITC Investigation. On December 15, 2014, the ITC held a trial in the ITC Investigation. On February 27, 2015, the Administrative Law Judge issued a written Initial Determination, or ID, ruling that the Company Respondents do not violate Section 1337 in connection with CrestaTech’s asserted patents because CrestaTech failed to satisfy the economic prong of the domestic industry requirement pursuant to Section 1337(a)(2). In addition, the ID stated that certain of the Company's television tuners and televisions incorporating those tuners manufactured and sold by certain customers infringe three claims of the ‘585 Patent, and these three claims were not determined to be invalid. On April 30, 2015, the ITC issued a notice indicating that it intended to review portions of the ID finding no violation of Section 1337, including the ID’s findings of infringement with respect to, and validity of, the ‘585 Patent, and the ID’s finding that CrestaTech failed to establish the existence of a domestic industry within the meaning of Section 1337. The ITC has subsequently issued its opinion, which terminated its investigation. The opinion affirmed the findings of the administrative law judge that no violation of Section 1337 had occurred because CrestaTech had failed to establish the economic prong of the domestic industry requirement. The ITC also affirmed the administrative law judge's finding of infringement with respect to the three claims of the '585 Patent that were not held to be invalid. On November 30, 2015, CrestaTech filed an appeal of the ITC decision with the United States Court of Appeals for the Federal Circuit, or the Federal Circuit. On March 7, 2016, CrestaTech voluntarily dismissed its appeal. In addition, the Company has filed four petitions for inter partes review, or IPR, by the US Patent Office, two for each of the CrestaTech patents asserted against the Company. The Patent Trial and Appeal Board, or the PTAB, did not institute two of these IPRs as being redundant to IPRs filed by another party that are already underway for the same CrestaTech patent. The remaining two petitions were instituted or instituted-in-part and, together with the IPRs filed by third parties, there are currently six IPR proceedings filed involving the two CrestaTech patents asserted against the Company. In October 2015, the PTAB issued final decisions in two of the six IPR proceedings (one for each of the two asserted patents), holding that all of the reviewed claims are unpatentable. Included in these decisions was one of the three claims of the ‘585 Patent mentioned above in connection with the ITC’s final decision. CrestaTech is appealing the PTAB’s decisions at the Federal Circuit. The remaining two claims of the ‘585 Patent are included in at least one of the four IPR proceedings instituted and currently pending before the PTAB against CrestaTech. On March 18, 2016, CrestaTech filed a petition for Chapter 7 bankruptcy in the Northern District of California. The PTAB has temporarily suspended the IPR proceedings while the parties and the PTAB assess the impact of this petition on the pending IPRs. In parallel, the petitioners are working with the bankruptcy trustee to obtain court approval for lifting the stay of the IPRs. The PTAB has suggested that it hopes to resume these proceedings shortly and has tentatively scheduled the oral arguments for the four remaining IPRs for May 19 and 20, 2016. The Company cannot predict the outcome of any appeal by CrestaTech, the District Court Litigation, or the IPRs. Any adverse determination in the District Court Litigation could have a material adverse effect on the Company's business and operating results. |
Subsequent Event Subsequent Eve
Subsequent Event Subsequent Event (Notes) | 3 Months Ended |
Mar. 31, 2016 | |
Subsequent Events [Abstract] | |
Subsequent Events [Text Block] | Acquisition of Certain Assets and Assumption of Certain Liabilities of the Broadband Wireless Division of Microsemi Storage Solutions, Inc. (formerly known as PMC-Sierra, Inc.) On April 28, 2016 , the Company entered into an asset purchase agreement with Microsemi Storage Solutions, Inc., formerly known as PMC-Sierra, Inc., or Microsemi, and consummated the transactions contemplated by the asset purchase agreement. The Company paid cash consideration of $21.0 million for the purchase of certain wireless access assets of Microsemi's Broadband Wireless Division , and assumed certain liabilities. The assets acquired include, among other things, radio frequency and analog/mixed signal patents and other intellectual property, in-production and next-generation RF transceiver designs, a workforce-in-place, and other intangible assets, as well as tangible assets that include but are not limited to production masks and other production related assets, inventory, and other property, plant, and equipment. The liabilities assumed include, among other things, product warranty obligations and accrued vacation and severance obligations for employees of the Broadband Wireless Division that were rehired by the Company. The acquired assets and liabilities, together with the rehired employees, represent a business as defined in ASC 805, Business Combinations. The Company intends to integrate the acquired assets and rehired employees into the Company's existing business. The asset purchase agreement also contains customary representations, warranties and covenants, including non-competition, non-solicitation, and indemnification provisions set forth therein. In connection with the acquisition, the Company entered into a transition services agreement with Microsemi for the purpose of Microsemi providing interim operations, engineering and general and administrative support to the Company. The Company has not made all of the remaining disclosures required by ASC 805-10-50-2, Business Combinations, as it is currently in the process of completing the purchase accounting for the acquisition. The Company used cash and cash equivalents on hand of $21.0 million to fund the acquisition. 12. Subsequent Events Acquisition of Certain Assets and Assumption of Certain Liabilities of the Broadband Wireless Division of Microsemi Storage Solutions, Inc. (formerly known as PMC-Sierra, Inc.) On April 28, 2016 , MaxLinear completed its acquisition of certain assets and assumption of certain liabilities of the Broadband Wireless Division of Microsemi Storage Solutions, Inc., formerly known as PMC-Sierra, Inc., for aggregate cash consideration of $21.0 million . For further information, please refer to the information presented in Note 1 - Organization and Summary of Significant Accounting Policies of these unaudited consolidated financial statements. Agreement to Acquire Certain Assets and Assume Certain Liabilities of the Wireless Infrastructure Backhaul Business of Broadcom Corporation On May 9, 2016 , the Company entered into a material definitive agreement to purchase certain assets and assume certain liabilities of the wireless infrastructure backhaul business of Broadcom Corporation, or Broadcom, for aggregate cash consideration of $80.0 million . The acquisition is expected to be consummated on or about July 1, 2016 , subject to the receipt of regulatory approvals, and other customary closing conditions. The Company intends to rehire certain employees of Broadcom's wireless infrastructure backhaul business after close of the acquisition. The assets and liabilities to be acquired, together with the rehired employees, represent a business as defined in ASC 805, Business Combinations. |
Organization and Summary of S20
Organization and Summary of Significant Accounting Policies (Policies) | 3 Months Ended |
Mar. 31, 2016 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Description of Business | Description of Business MaxLinear, Inc. was incorporated in Delaware in September 2003. MaxLinear, Inc., together with its wholly owned subsidiaries, collectively referred to as MaxLinear, or the Company, is a provider of radio-frequency and mixed-signal integrated circuits for cable and satellite broadband communications and the connected home, and for data center, metro, and long-haul transport network applications. MaxLinear's customers include module makers, original equipment manufacturers, or OEMs, and original design manufacturers, or ODMs, who incorporate the Company’s products in a wide range of electronic devices including Pay-TV operator set-top boxes, DOCSIS data and voice gateways, hybrid analog and digital televisions and consumer terrestrial set-top boxes, Direct Broadcast Satellite outdoor units, and optical modules for data center, metro, and long-haul transport network applications. The Company is a fabless semiconductor company focusing its resources on the design, sale and marketing of its products. |
Subsequent Events [Text Block] | Acquisition of Certain Assets and Assumption of Certain Liabilities of the Broadband Wireless Division of Microsemi Storage Solutions, Inc. (formerly known as PMC-Sierra, Inc.) On April 28, 2016 , the Company entered into an asset purchase agreement with Microsemi Storage Solutions, Inc., formerly known as PMC-Sierra, Inc., or Microsemi, and consummated the transactions contemplated by the asset purchase agreement. The Company paid cash consideration of $21.0 million for the purchase of certain wireless access assets of Microsemi's Broadband Wireless Division , and assumed certain liabilities. The assets acquired include, among other things, radio frequency and analog/mixed signal patents and other intellectual property, in-production and next-generation RF transceiver designs, a workforce-in-place, and other intangible assets, as well as tangible assets that include but are not limited to production masks and other production related assets, inventory, and other property, plant, and equipment. The liabilities assumed include, among other things, product warranty obligations and accrued vacation and severance obligations for employees of the Broadband Wireless Division that were rehired by the Company. The acquired assets and liabilities, together with the rehired employees, represent a business as defined in ASC 805, Business Combinations. The Company intends to integrate the acquired assets and rehired employees into the Company's existing business. The asset purchase agreement also contains customary representations, warranties and covenants, including non-competition, non-solicitation, and indemnification provisions set forth therein. In connection with the acquisition, the Company entered into a transition services agreement with Microsemi for the purpose of Microsemi providing interim operations, engineering and general and administrative support to the Company. The Company has not made all of the remaining disclosures required by ASC 805-10-50-2, Business Combinations, as it is currently in the process of completing the purchase accounting for the acquisition. The Company used cash and cash equivalents on hand of $21.0 million to fund the acquisition. 12. Subsequent Events Acquisition of Certain Assets and Assumption of Certain Liabilities of the Broadband Wireless Division of Microsemi Storage Solutions, Inc. (formerly known as PMC-Sierra, Inc.) On April 28, 2016 , MaxLinear completed its acquisition of certain assets and assumption of certain liabilities of the Broadband Wireless Division of Microsemi Storage Solutions, Inc., formerly known as PMC-Sierra, Inc., for aggregate cash consideration of $21.0 million . For further information, please refer to the information presented in Note 1 - Organization and Summary of Significant Accounting Policies of these unaudited consolidated financial statements. Agreement to Acquire Certain Assets and Assume Certain Liabilities of the Wireless Infrastructure Backhaul Business of Broadcom Corporation On May 9, 2016 , the Company entered into a material definitive agreement to purchase certain assets and assume certain liabilities of the wireless infrastructure backhaul business of Broadcom Corporation, or Broadcom, for aggregate cash consideration of $80.0 million . The acquisition is expected to be consummated on or about July 1, 2016 , subject to the receipt of regulatory approvals, and other customary closing conditions. The Company intends to rehire certain employees of Broadcom's wireless infrastructure backhaul business after close of the acquisition. The assets and liabilities to be acquired, together with the rehired employees, represent a business as defined in ASC 805, Business Combinations. |
Basis of Presentation and Principles of Consolidation | Basis of Presentation and Principles of Consolidation The accompanying unaudited consolidated financial statements include the accounts of MaxLinear, Inc. and its wholly owned subsidiaries and have been prepared in accordance with accounting principles generally accepted in the United States of America, or GAAP, for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and disclosures required by GAAP for complete financial statements. All intercompany transactions and investments have been eliminated in consolidation. In the opinion of management, the Company’s unaudited consolidated interim financial statements contain adjustments, including normal recurring accruals necessary to present fairly the Company’s consolidated financial position, results of operations, comprehensive income (loss) and cash flows. The accompanying unaudited consolidated interim financial statements should be read in conjunction with the audited consolidated financial statements and related notes thereto for the year ended December 31, 2015 included in the Company’s Annual Report on Form 10-K filed by the Company with the Securities and Exchange Commission, or the SEC, on February 17, 2016, as amended by Amendment No. 1 filed with the SEC on April 28, 2016 , or the Annual Report. Certain prior period amounts have been reclassified to conform with current period presentation. Interim results for the three months ended March 31, 2016 are not necessarily indicative of the results that may be expected for the fiscal year ending December 31, 2016 . |
Use of Estimates | Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the unaudited consolidated financial statements and accompanying notes to unaudited consolidated financial statements. Actual results could differ from those estimates. |
Significant Accounting Policies [Text Block] | Summary of Significant Accounting Policies Refer to the Company’s Annual Report for a summary of significant accounting policies. There have been no material changes to our significant accounting policies during the three months ended March 31, 2016 . |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent Accounting Pronouncements In May 2014, the Financial Accounting Standards Board, or FASB, issued new accounting guidance related to revenue recognition. This new standard will replace all current U.S. GAAP guidance on this topic and eliminate all industry-specific guidance. The new revenue recognition standard provides a unified model to determine when and how revenue is recognized. The core principle is that a company should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration for which the entity expects to be entitled in exchange for those goods or services. This guidance will be effective for the Company beginning in the first quarter of fiscal year 2018 and can be applied either retrospectively to each period presented or as a cumulative-effect adjustment as of the date of adoption. The Company is currently evaluating the impact of adopting this new accounting standard on its consolidated financial position and results of operations. In July 2015, the FASB issued ASU 2015-11, Simplifying the Measurement of Inventory, which requires inventory to be subsequently measured using the lower of cost and net realizable value. Net realizable value is the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal and transportation. The amendments in this Update are effective for the Company beginning in the first quarter of fiscal 2017 and should be applied prospectively. The Company is currently evaluating the impact that this guidance will have on the Company's consolidated financial position and results of operations. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842). The amendments in this Update require a lessee to recognize in the statement of financial position a liability to make lease payments (the lease liability) and a right-of-use asset representing its right to use the underlying asset for the lease term for all leases with terms greater than twelve months. For leases less than twelve months, an entity is permitted to make an accounting policy election by class of underlying asset not to recognize lease assets and lease liabilities. If a lessee makes this election, it should recognize lease expense for such leases generally on a straight-line basis over the lease term. The amendments in this Update are effective for the Company for fiscal years beginning with fiscal year 2019, including interim periods within those years, with early adoption permitted. The Company is currently in the process of evaluating the impact of adoption of the amendments in this Update on the Company’s consolidated financial position and results of operations; however, adoption of the amendments in this Update are expected to be material for most entities who have a material lease greater than twelve months. In March 2016, the FASB issued ASU No. 2016-08, Principal versus Agent Considerations (Reporting Revenue Gross versus Net ) to clarify the revenue recognition implementation guidance on principal versus agent considerations. The amendments in this Update clarify that when another party is involved in providing goods or services to a customer, an entity that is the principal has obtained control of a good or service before it is transferred to a customer, and provides indicators to assist an entity in determining whether it controls a specified good or service prior to the transfer to the customer. An entity that is the principal recognizes revenue in the gross amount of consideration to which it expects to be entitled in exchange for the specified good or service transferred to the customer, whereas an agent recognizes revenue in the amount of any fee or commission to which it expects to be entitled in exchange for arranging for the specified good or service to be provided by the other party. The amendments in this Update are effective for the Company beginning in the first quarter of fiscal year 2018, concurrent with the new revenue recognition standard. The Company is currently evaluating the impact of adopting the new revenue recognition accounting standard, including this Update, on its consolidated financial position and results of operations. In March 2016, the FASB issued ASU No. 2016-09, Improvements to Share-Based Compensation to simplify certain aspects of accounting for share-based payment transactions associated with income taxes, classification as equity or liabilities, and classification on the statement of cash flows. The amendments in this Update are effective for the Company for fiscal years beginning with fiscal year 2017, including interim periods within those years, with early adoption permitted. Early adoption, if elected, must be completed for all of the amendments in the same period. Amendments related to the timing of when excess tax benefits are recognized, minimum statutory withholding requirements, forfeitures, and intrinsic value should be applied using a modified retrospective transition method by means of a cumulative-effect adjustment to retained earnings as of the beginning of the period of adoption. Amendments related to the presentation of employee taxes paid on the statement of cash flows when an employer withholds shares to meet the minimum statutory withholding requirement should be applied retrospectively. Amendments requiring recognition of excess tax benefits and tax deficiencies in the income statement and the practical expedient for estimating expected term should be applied prospectively. An entity may elect to apply the amendments related to the presentation of excess tax benefits on the consolidated statement of cash flows using either a prospective transition method or a retrospective transition method. The Company is currently in the process of evaluating the full impact of adoption of the amendments in this Update on the Company’s consolidated financial position and results of operations, but believes that the amendments that require that all excess tax benefits and tax deficiencies be recognized as income tax expense or benefit in the income statement will reduce income tax expense on the consolidated financial statements. |
Net Income (Loss) Per Share (Ta
Net Income (Loss) Per Share (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Earnings Per Share [Abstract] | |
Summary of Basic and Diluted Earnings Per Share | The Company computes basic earnings per share by dividing net income (loss) by the weighted average number of shares of Class A and Class B common stock outstanding during the period. For diluted earnings per share, the Company divides net income (loss) by the sum of the weighted average number of shares of Class A and Class B common stock outstanding and the potential number of shares of dilutive Class A and Class B common stock outstanding during the period. Three Months Ended March 31, 2016 2015 Numerator: Net income (loss) $ 19,116 $ (4,722 ) Denominator: Weighted average common shares outstanding—basic 62,585 38,015 Dilutive common stock equivalents 3,233 — Weighted average common shares outstanding—diluted 65,818 38,015 Net income (loss) per share: Basic $ 0.31 $ (0.12 ) Diluted $ 0.29 $ (0.12 ) |
Restructuring Activity Restruct
Restructuring Activity Restructuring Activity (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Restructuring and Related Activities [Abstract] | |
Restructuring and Related Costs [Table Text Block] | The following table presents the activity related to the plan, which is included in restructuring charges in the Consolidated Statements of Operations: Three Months Ended March 31, 2016 (in thousands) Lease related charges (1) $ 1,976 Other 130 $ 2,106 ____________________________ (1) Includes $0.4 million in offsets to restructuring charges related to an Entropic lease that was restructured prior to the completion of the acquisition by MaxLinear. The Company recorded an adjustment to the lease restructuring due to changes in market conditions. The following table presents a roll-forward of the Company's restructuring liability as of March 31, 2016 , which is included in accrued expenses and other current liabilities in the Consolidated Balance Sheets: Employee Separation Expenses Lease Related Charges Other Total (in thousands) Liability as of December 31, 2015 $ 75 $ 1,557 $ 1 $ 1,633 Restructuring charges (1) — 1,976 130 2,106 Cash payments (8 ) (1,323 ) (20 ) (1,351 ) Liability as of March 31, 2016 $ 67 $ 2,210 $ 111 $ 2,388 ____________________________ (1) Includes $0.4 million in offsets to restructuring charges related to an Entropic lease that was restructured during to the completion of the acquisition by MaxLinear. The Company recorded an adjustment to the lease restructuring due to changes in market conditions. |
Goodwill and Intangible Asset23
Goodwill and Intangible Assets Goodwill and Intangible Assets (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | The following table sets forth the Company’s finite-lived intangible assets resulting from business acquisitions and technology licenses purchased, which continue to be amortized: March 31, 2016 December 31, 2015 Weighted Average Useful Life (in Years) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Value Accumulated Amortization Net Carrying Amount (in thousands) Licensed technology 3 $ 2,921 $ (2,813 ) $ 108 $ 2,921 $ (2,725 ) $ 196 Developed technology 7 47,000 (6,331 ) 40,669 47,000 (4,652 ) 42,348 Trademarks and trade names 7 1,700 (222 ) 1,478 1,700 (162 ) 1,538 Customer relationships 5 4,700 (862 ) 3,838 4,700 (627 ) 4,073 Backlog 1 24,200 (24,200 ) — 24,200 (24,200 ) — $ 80,521 $ (34,428 ) $ 46,093 $ 80,521 $ (32,366 ) $ 48,155 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | The following table presents future amortization of the Company’s intangible assets at March 31, 2016 : Amortization 2016 (nine months) $ 5,981 2017 7,931 2018 7,914 2019 7,897 2020 7,270 Thereafter 9,100 Total $ 46,093 |
Financial Instruments Financial
Financial Instruments Financial Instruments (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Fair Value Disclosures [Abstract] | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | The following table presents a summary of the Company’s financial instruments that are measured on a recurring basis: Fair Value Measurements at March 31, 2016 Balance at March 31, 2016 Quoted Prices Significant Significant (in thousands) Assets Money market funds $ 29,828 $ 29,828 $ — $ — Government debt securities 35,338 — 35,338 — Corporate debt securities 54,654 — 54,654 — $ 119,820 $ 29,828 $ 89,992 $ — Liabilities Contingent consideration $ 241 $ — $ — $ 241 $ 241 $ — $ — $ 241 Fair Value Measurements at December 31, 2015 Balance at December 31, 2015 Quoted Prices Significant Significant (in thousands) Assets Money market funds $ 17,144 $ 17,144 $ — $ — Government debt securities 17,273 — 17,273 — Corporate debt securities 45,269 — 45,269 — $ 79,686 $ 17,144 $ 62,542 $ — Liabilities Contingent consideration $ 395 $ — $ — $ 395 $ 395 $ — $ — $ 395 |
Available-for-sale Securities [Table Text Block] | The composition of financial instruments is as follows: March 31, 2016 Amortized Gross Unrealized Fair Gains Losses (in thousands) Assets Money market funds $ 29,828 $ — $ — $ 29,828 Government debt securities 35,332 9 (3 ) 35,338 Corporate debt securities 54,649 18 (13 ) 54,654 119,809 27 (16 ) 119,820 Less amounts included in cash and cash equivalents (29,828 ) — — (29,828 ) $ 89,981 $ 27 $ (16 ) $ 89,992 Fair Value at March 31, 2016 (in thousands) Liabilities Contingent Consideration $ 241 Total $ 241 December 31, 2015 Amortized Gross Unrealized Fair Gains Losses (in thousands) Assets Money market funds $ 17,144 $ — $ — $ 17,144 Government debt securities 17,303 — (30 ) 17,273 Corporate debt securities 45,353 — (84 ) 45,269 79,800 — (114 ) 79,686 Less amounts included in cash and cash equivalents (17,144 ) — — (17,144 ) $ 62,656 $ — $ (114 ) $ 62,542 Fair Value at December 31, 2015 (in thousands) Liabilities Contingent Consideration $ 395 Total $ 395 |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | The following summarizes the activity in Level 3 financial instruments: Three Months Ended March 31, 2016 2015 (in thousands) Contingent Consideration (1) Beginning balance $ 395 $ 265 Physpeed earn-out payment (240 ) — (Gain) loss recognized in earnings (2) 86 (183 ) Ending balance $ 241 $ 82 Net gain (loss) for the period included in earnings attributable to contingent consideration held at the end of the period: $ (86 ) $ 183 (1) In connection with the acquisition of Physpeed, the Company recorded contingent consideration based upon the expected achievement of 2016 revenue milestones. Changes to the fair value of contingent consideration due to changes in assumptions used in preparing the valuation model are recorded in selling, general and administrative expense in the statement of operations. (2) Changes to the estimated fair value of contingent consideration for the three months ended March 31, 2016 were primarily due to |
Balance Sheet Details (Tables)
Balance Sheet Details (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Balance Sheet Related Disclosures [Abstract] | |
Cash, Cash Equivalents and Investments | Cash and cash equivalents and investments consist of the following: March 31, 2016 December 31, 2015 (in thousands) Cash and cash equivalents $ 76,840 $ 67,956 Short-term investments 73,210 43,300 Long-term investments 16,782 19,242 $ 166,832 $ 130,498 |
Inventory | Inventory consists of the following: March 31, 2016 December 31, 2015 (in thousands) Work-in-process $ 14,866 $ 15,713 Finished goods 14,555 16,730 $ 29,421 $ 32,443 |
Property and Equipment | Property and equipment consist of the following: Useful Life March 31, 2016 December 31, 2015 (in thousands) Furniture and fixtures 5 $ 2,494 $ 2,458 Machinery and equipment 3 -5 23,914 23,679 Masks and production equipment 2 8,084 8,062 Software 3 3,022 3,017 Leasehold improvements 4 -5 11,363 9,573 Construction in progress N/A 377 62 49,254 46,851 Less accumulated depreciation and amortization (27,716 ) (24,993 ) $ 21,538 $ 21,858 |
Amortization of Company's Intangible Assets | The following table presents future amortization of the Company’s intangible assets at March 31, 2016 : Amortization 2016 (nine months) $ 5,981 2017 7,931 2018 7,914 2019 7,897 2020 7,270 Thereafter 9,100 Total $ 46,093 |
Deferred Revenue and Deferred Profit | Deferred revenue and deferred profit consist of the following: March 31, 2016 December 31, 2015 (in thousands) Deferred revenue—rebates $ 122 $ 118 Deferred revenue—distributor transactions 9,162 5,695 Deferred cost of net revenue—distributor transactions (2,761 ) (1,747 ) $ 6,523 $ 4,066 |
Price Protection Liability | Accrued price protection liability consists of the following activity: Three Months Ended March 31, 2016 2015 (in thousands) Beginning balance $ 20,026 $ 10,018 Charged as a reduction of revenue 10,243 6,009 Reversal of unclaimed rebates (1,302 ) (12 ) Payments (10,524 ) (3,350 ) Ending balance $ 18,443 $ 12,665 |
Accrued Expenses | Accrued expenses and other current liabilities consist of the following: March 31, 2016 December 31, 2015 (in thousands) Accrued technology license payments $ 3,000 $ 3,000 Accrued professional fees 786 1,196 Accrued restructuring 2,388 1,633 Accrued litigation costs 85 534 Accrued royalty 2,453 2,042 Accrued leases - other 1,306 — Other 7,251 6,963 $ 17,269 $ 15,368 |
Stock-Based Compensation and Em
Stock-Based Compensation and Employee Benefit Plans (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Stock-Based Compensation | The Company recognized stock-based compensation in the consolidated statements of operations, based on the department to which the related employee reports, as follows: Three Months Ended March 31, 2016 2015 (in thousands) Cost of net revenue $ 43 $ 35 Research and development 3,279 2,340 Selling, general and administrative 1,787 1,344 $ 5,109 $ 3,719 |
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity [Table Text Block] | A summary of the Company’s restricted stock unit and restricted stock award activity is as follows: Number of Shares (in thousands) Weighted-Average Grant-Date Fair Value per Share Outstanding at December 31, 2015 3,642 $ 9.19 Granted 751 14.04 Vested (471 ) 9.70 Canceled (58 ) 10.56 Outstanding at March 31, 2016 3,864 10.06 |
Schedule of Stock by Class [Table Text Block] | Shares Reserved for Future Issuance As of March 31, 2016 , common stock reserved for future issuance is as follows: Number of Shares (in thousands) Stock options outstanding 3,359 Restricted stock units and restricted stock awards outstanding 3,864 Authorized for future grants under 2010 Equity Incentive Plan 6,556 Authorized for future issuance under 2010 Employee Stock Purchase Plan 1,247 Total 15,026 |
Significant Customer and Geog27
Significant Customer and Geographic Information Significant Customer and Geographic Information (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Risks and Uncertainties [Abstract] | |
Schedules of Concentration of Risk, by Risk Factor [Table Text Block] | Customers greater than 10% of net revenues for each of the periods presented are as follows: Three Months Ended March 31, 2016 2015 Percentage of total net revenue Arris 24 % 29 % Cisco (1) 18 % 14 % WNC Corporation 14 % * * Represents less than 10% of the net revenue for the respective period. (1) In November 2015, Technicolor completed its purchase of Cisco’s connected devices business. In the three months ended March 31, 2015 , the revenue percentage above does not include the 2% revenue from Technicolor. Products shipped to international destinations representing greater than 10% of net revenue for each of the periods presented are as follows: Three Months Ended March 31, 2016 2015 Percentage of total net revenue China 81 % 71 % The determination of which country a particular sale is allocated to is based on the destination of the product shipment. Balances greater than 10% of accounts receivable are as follows: March 31, December 31, 2016 2015 Percentage of gross accounts receivable WNC Corporation 19 % 16 % Pegatron Corporation 16 % 17 % Sernet Technologies Corporation 13 % 14 % MTI Jupiter Technologies * 13 % * Represents less than 10% of the gross accounts receivable for the respective period end. |
Commitments and Contingencies C
Commitments and Contingencies Commitments and Contingencies (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Commitments and Contingencies Disclosure [Abstract] | |
Future Minimum Payments Under Operating Leases | As of March 31, 2016 , future minimum payments under non-cancelable operating leases, other obligations, and inventory purchase obligations are as follows: Operating Leases Other Obligations Inventory Purchase Obligations Total (in thousands) 2016 (nine months) $ 5,991 $ 5,708 $ 19,297 $ 30,996 2017 6,809 4,948 — 11,757 2018 6,001 830 — 6,831 2019 5,678 — — 5,678 2020 6,024 — — 6,024 Thereafter 7,590 — — 7,590 Total minimum payments $ 38,093 $ 11,486 $ 19,297 $ 68,876 |
Future Minimum Payments Under Other Obligations | As of March 31, 2016 , future minimum payments under non-cancelable operating leases, other obligations, and inventory purchase obligations are as follows: Operating Leases Other Obligations Inventory Purchase Obligations Total (in thousands) 2016 (nine months) $ 5,991 $ 5,708 $ 19,297 $ 30,996 2017 6,809 4,948 — 11,757 2018 6,001 830 — 6,831 2019 5,678 — — 5,678 2020 6,024 — — 6,024 Thereafter 7,590 — — 7,590 Total minimum payments $ 38,093 $ 11,486 $ 19,297 $ 68,876 |
Future Minimum Payments Under Inventory Purchase Obligations | As of March 31, 2016 , future minimum payments under non-cancelable operating leases, other obligations, and inventory purchase obligations are as follows: Operating Leases Other Obligations Inventory Purchase Obligations Total (in thousands) 2016 (nine months) $ 5,991 $ 5,708 $ 19,297 $ 30,996 2017 6,809 4,948 — 11,757 2018 6,001 830 — 6,831 2019 5,678 — — 5,678 2020 6,024 — — 6,024 Thereafter 7,590 — — 7,590 Total minimum payments $ 38,093 $ 11,486 $ 19,297 $ 68,876 |
Organization and Summary of S29
Organization and Summary of Significant Accounting Policies (Details 1) - Broadband Wireless Division of Microsemi Storage Solutions, Inc. [Member] $ in Millions | 3 Months Ended |
Mar. 31, 2016USD ($) | |
Subsequent Event [Line Items] | |
Business Acquisition, Date of Acquisition Agreement | Apr. 28, 2016 |
Business Combination, Consideration Transferred | $ 21 |
Net Income (Loss) Per Share - S
Net Income (Loss) Per Share - Summary of Basic and Diluted Earnings Per Share (Details 1) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Numerator: | ||
Net income (loss) | $ 19,116 | $ (4,722) |
Denominator: | ||
Weighted average common shares outstanding-basic (shares) | 62,585 | 38,015 |
Dilutive common stock equivalents (shares) | 3,233 | 0 |
Weighted average common shares outstanding-diluted (shares) | 65,818 | 38,015 |
Net income (loss) per share: | ||
Basic (usd per share) | $ 0.31 | $ (0.12) |
Diluted (usd per share) | $ 0.29 | $ (0.12) |
Net Income (Loss) Per Share - A
Net Income (Loss) Per Share - Additional Information (Details) shares in Millions | 3 Months Ended | |
Mar. 31, 2016classshares | Mar. 31, 2015shares | |
Earnings Per Share [Abstract] | ||
Number Of Class Of Stock Outstanding | class | 2 | |
Common stock equivalents excluded from the calculation of net loss per share (shares) | shares | 0.2 | 3.3 |
Business Combinations Busines32
Business Combinations Business Combinations (Details 1) - USD ($) $ in Thousands | Apr. 30, 2015 | Oct. 31, 2014 | Mar. 31, 2016 | Mar. 31, 2015 | Dec. 31, 2015 | Dec. 31, 2016 |
Entropic Communications [Member] | ||||||
Business Acquisition [Line Items] | ||||||
Business Combination, Consideration Transferred | $ 289,400 | |||||
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable | 173,800 | |||||
Business Combination, Consideration Transferred, Liabilities Incurred | 4,500 | |||||
Payments to Acquire Businesses, Gross | $ 111,100 | |||||
Physpeed [Member] | ||||||
Business Acquisition [Line Items] | ||||||
Payments to Acquire Businesses, Gross | $ 9,300 | |||||
Business Acquisition, Percentage of Voting Interests Acquired | 100.00% | |||||
Escrow Deposit | $ 1,100 | |||||
Continued Employment [Member] | ||||||
Business Acquisition [Line Items] | ||||||
Business Combination, Additional Consideration, Quarterly Installments | 200 | |||||
Continued Employment [Member] | Physpeed [Member] | ||||||
Business Acquisition [Line Items] | ||||||
Business Combination, Contingent Consideration, Liability | 1,700 | |||||
Business Combination, Separately Recognized Transactions, Expenses and Losses Recognized | 100 | $ 50 | $ 70 | |||
Earn-out Consideration [Member] | Physpeed [Member] | ||||||
Business Acquisition [Line Items] | ||||||
Business Combination, Contingent Consideration, Liability | 300 | 241 | $ 82 | 400 | ||
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High | $ 750 | |||||
Payment of Contingent Consideration | (240) | $ 0 | ||||
Scenario, Forecast [Member] | Earn-out Consideration [Member] | Physpeed [Member] | ||||||
Business Acquisition [Line Items] | ||||||
Business Combination, Contingent Consideration Arrangements, Base Amount Multiplied by Revenue Percent | $ 375 | |||||
Contingent Consideration [Member] | Fair Value, Measurements, Recurring [Member] | Earn-out Consideration [Member] | ||||||
Business Acquisition [Line Items] | ||||||
Available-for-sale Securities, Debt Securities, Current | 241 | |||||
Physpeed, 2015 Restricted Stock Unit Plan [Member] | Physpeed [Member] | ||||||
Business Acquisition [Line Items] | ||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 14 months | |||||
Physpeed, 2016 Restricted Stock Unit Plan [Member] | Physpeed [Member] | ||||||
Business Acquisition [Line Items] | ||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 26 months | |||||
Restricted Stock Units (RSUs) [Member] | Physpeed [Member] | ||||||
Business Acquisition [Line Items] | ||||||
Business Combination, Recognized Identifiable Assets Acquired And Liabilities Assumed, Current Liabilities, Accrued Compensation | $ 1,000 | $ 1,900 |
Restructuring Activity Restru33
Restructuring Activity Restructuring Activity (Details 1) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2016USD ($) | Mar. 31, 2015USD ($) | Dec. 31, 2015employee | |
Restructuring Cost and Reserve [Line Items] | |||
Restructuring charges | $ 2,106 | $ 0 | |
Restructuring Liability Rollforward | |||
Restructuring charges | 2,106 | $ 0 | |
Facility Closing [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring charges | 1,976 | ||
Restructuring Liability Rollforward | |||
Restructuring charges | 1,976 | ||
Entropic Communications [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Number of employees terminated | employee | 87 | ||
Restructuring charges | 2,106 | ||
Restructuring Liability Rollforward | |||
Liability as of December 31, 2015 | 1,633 | ||
Restructuring charges | 2,106 | ||
Cash payments | (1,351) | ||
Liability as of March 31, 2016 | 2,388 | ||
Entropic Communications [Member] | Employee Separation Expenses [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring charges | 0 | ||
Restructuring Liability Rollforward | |||
Liability as of December 31, 2015 | 75 | ||
Restructuring charges | 0 | ||
Cash payments | (8) | ||
Liability as of March 31, 2016 | 67 | ||
Entropic Communications [Member] | Facility Closing [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring Adjustment | 400 | ||
Entropic Communications [Member] | Lease Related Impairment [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring charges | 1,976 | ||
Restructuring Liability Rollforward | |||
Liability as of December 31, 2015 | 1,557 | ||
Restructuring charges | 1,976 | ||
Cash payments | (1,323) | ||
Liability as of March 31, 2016 | 2,210 | ||
Entropic Communications [Member] | Other Restructuring [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring charges | 130 | ||
Restructuring Liability Rollforward | |||
Liability as of December 31, 2015 | 1 | ||
Restructuring charges | 130 | ||
Cash payments | (20) | ||
Liability as of March 31, 2016 | $ 111 |
Goodwill and Intangible Asset34
Goodwill and Intangible Assets Goodwill and Intangibles Other (Details 1) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Dec. 31, 2015 | |
Finite-Lived Intangible Assets [Line Items] | ||
Finite-Lived Intangible Assets, Gross | $ 80,521 | $ 80,521 |
Finite-Lived Intangible Assets, Accumulated Amortization | 34,428 | 32,366 |
Finite-Lived Intangible Assets, Net | $ 46,093 | 48,155 |
Licensed Technology [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Finite-Lived Intangible Asset, Useful Life | 3 years | |
Finite-Lived Intangible Assets, Gross | $ 2,921 | 2,921 |
Finite-Lived Intangible Assets, Accumulated Amortization | 2,813 | 2,725 |
Finite-Lived Intangible Assets, Net | $ 108 | 196 |
Developed Technology Rights [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Finite-Lived Intangible Asset, Useful Life | 7 years | |
Finite-Lived Intangible Assets, Gross | $ 47,000 | 47,000 |
Finite-Lived Intangible Assets, Accumulated Amortization | 6,331 | 4,652 |
Finite-Lived Intangible Assets, Net | $ 40,669 | 42,348 |
Trademarks and Trade Names [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Finite-Lived Intangible Asset, Useful Life | 7 years | |
Finite-Lived Intangible Assets, Gross | $ 1,700 | 1,700 |
Finite-Lived Intangible Assets, Accumulated Amortization | 222 | 162 |
Finite-Lived Intangible Assets, Net | $ 1,478 | 1,538 |
Customer Relationships [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Finite-Lived Intangible Asset, Useful Life | 5 years | |
Finite-Lived Intangible Assets, Gross | $ 4,700 | 4,700 |
Finite-Lived Intangible Assets, Accumulated Amortization | 862 | 627 |
Finite-Lived Intangible Assets, Net | $ 3,838 | 4,073 |
Order or Production Backlog [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Finite-Lived Intangible Asset, Useful Life | 1 year | |
Finite-Lived Intangible Assets, Gross | $ 24,200 | 24,200 |
Finite-Lived Intangible Assets, Accumulated Amortization | 24,200 | 24,200 |
Finite-Lived Intangible Assets, Net | $ 0 | $ 0 |
Goodwill and Intangible Asset35
Goodwill and Intangible Assets Goodwill and Intangibles Other (Details 2) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Goodwill and Intangible Assets Disclosure [Abstract] | ||
Finite-Lived Intangible Assets, Amortization Expense, Remainder of Fiscal Year | $ 5,981 | |
Finite-Lived Intangible Assets, Amortization Expense, Year Two | 7,931 | |
Finite-Lived Intangible Assets, Amortization Expense, Year Three | 7,914 | |
Finite-Lived Intangible Assets, Amortization Expense, Year Four | 7,897 | |
Finite-Lived Intangible Assets, Amortization Expense, Year Five | 7,270 | |
Finite-Lived Intangible Assets, Amortization Expense, Rolling after Year Five | 9,100 | |
Finite-Lived Intangible Assets, Net | $ 46,093 | $ 48,155 |
Goodwill and Intangible Asset36
Goodwill and Intangible Assets Goodwill and Intangibles Other (Details 3) - USD ($) | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | Dec. 31, 2015 | |
Goodwill, Impairment Loss | $ 0 | ||
Indefinite-Lived Intangible Assets (Excluding Goodwill) [Abstract] | |||
Transfers into developed technology from IPR&D | 0 | ||
Finite-Lived Intangible Assets, Net [Abstract] | |||
Finite-Lived Intangible Assets, Net | 46,093,000 | $ 48,155,000 | |
Finite-lived Intangible Assets Acquired | 0 | ||
Purchases of intangible finite-lived assets unrelated to acquisition | 0 | ||
Assets, Total [Member] | |||
Finite-Lived Intangible Assets, Net [Abstract] | |||
Amortization of Intangible Assets | 2,062,000 | $ 200,000 | 2,100,000 |
Indefinite-lived Intangible Assets [Member] | |||
Indefinite-Lived Intangible Assets (Excluding Goodwill) [Abstract] | |||
IPR&D | 3,200,000 | $ 3,200,000 | |
IPR&D Purchases | 0 | ||
Transfers into developed technology from IPR&D | 0 | ||
Impairment of IPR&D | $ 0 |
Financial Instruments Financi37
Financial Instruments Financial Instruments (Details 1) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value, Assets, Level 1 to Level 2 Transfers, Amount | $ 0 | |
Available-for-sale Securities, Amortized Cost Basis | 119,809 | $ 79,800 |
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax | 27 | 0 |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 16 | 114 |
Available-for-sale Securities | 119,820 | 79,686 |
Cash and Cash Equivalents [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Amortized Cost Basis | 29,828 | 17,144 |
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax | 0 | 0 |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 0 | 0 |
Available-for-sale Securities | 29,828 | 17,144 |
Investments [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Amortized Cost Basis | 89,981 | 62,656 |
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax | 27 | 0 |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 16 | 114 |
Available-for-sale Securities | 89,992 | 62,542 |
US Government Agencies Debt Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Amortized Cost Basis | 35,332 | 17,303 |
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax | 9 | 0 |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 3 | 30 |
Available-for-sale Securities | 35,338 | 17,273 |
Corporate Debt Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Amortized Cost Basis | 54,649 | 45,353 |
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax | 18 | 0 |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 13 | 84 |
Available-for-sale Securities | 54,654 | 45,269 |
Money Market Funds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Amortized Cost Basis | 29,828 | 17,144 |
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax | 0 | 0 |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 0 | 0 |
Available-for-sale Securities | 29,828 | 17,144 |
Estimate of Fair Value Measurement [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities, Current | 241 | 395 |
Available-for-sale Securities | 119,820 | 79,686 |
Estimate of Fair Value Measurement [Member] | Money Market Funds [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 29,828 | 17,144 |
Estimate of Fair Value Measurement [Member] | Contingent Consideration [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities, Current | $ 241 | $ 395 |
Financial Instruments Financi38
Financial Instruments Financial Instruments (Details 2) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Amortized Cost Basis | $ 119,809 | $ 79,800 |
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax | 27 | 0 |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 16 | 114 |
Available-for-sale Securities | 119,820 | 79,686 |
Money Market Funds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Amortized Cost Basis | 29,828 | 17,144 |
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax | 0 | 0 |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 0 | 0 |
Available-for-sale Securities | 29,828 | 17,144 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 29,828 | 17,144 |
Available-for-sale Securities, Debt Securities, Current | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Contingent Consideration [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities, Current | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | US Government Agencies Debt Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Corporate Debt Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Money Market Funds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 29,828 | 17,144 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 89,992 | 62,542 |
Available-for-sale Securities, Debt Securities, Current | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Contingent Consideration [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities, Current | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | US Government Agencies Debt Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 35,338 | 17,273 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Corporate Debt Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 54,654 | 45,269 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Money Market Funds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 0 | 0 |
Available-for-sale Securities, Debt Securities, Current | 241 | 395 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Contingent Consideration [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities, Current | 241 | 395 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | US Government Agencies Debt Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Corporate Debt Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Money Market Funds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 0 | 0 |
Estimate of Fair Value Measurement [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 119,820 | 79,686 |
Available-for-sale Securities, Debt Securities, Current | 241 | 395 |
Estimate of Fair Value Measurement [Member] | Fair Value, Measurements, Recurring [Member] | Contingent Consideration [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities, Current | 241 | 395 |
Estimate of Fair Value Measurement [Member] | Fair Value, Measurements, Recurring [Member] | US Government Agencies Debt Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 35,338 | 17,273 |
Estimate of Fair Value Measurement [Member] | Fair Value, Measurements, Recurring [Member] | Corporate Debt Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 54,654 | 45,269 |
Estimate of Fair Value Measurement [Member] | Fair Value, Measurements, Recurring [Member] | Money Market Funds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 29,828 | 17,144 |
Corporate Debt Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Amortized Cost Basis | 54,649 | 45,353 |
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax | 18 | 0 |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 13 | 84 |
Available-for-sale Securities | 54,654 | 45,269 |
US Government Agencies Debt Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Amortized Cost Basis | 35,332 | 17,303 |
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax | 9 | 0 |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 3 | 30 |
Available-for-sale Securities | 35,338 | 17,273 |
Cash and Cash Equivalents [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Amortized Cost Basis | 29,828 | 17,144 |
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax | 0 | 0 |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 0 | 0 |
Available-for-sale Securities | 29,828 | 17,144 |
Investments [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Amortized Cost Basis | 89,981 | 62,656 |
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax | 27 | 0 |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 16 | 114 |
Available-for-sale Securities | $ 89,992 | $ 62,542 |
Financial Instruments Financi39
Financial Instruments Financial Instruments (Details 3) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2016 | Mar. 31, 2015 | Dec. 31, 2015 | Oct. 31, 2014 | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Net Gain (Loss) Attributable To Contingent Consideration | $ (86) | $ 183 | ||
Fair Value, Inputs, Level 3 [Member] | Maximum [Member] | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Fair Value Inputs, Discount Rate | 64.00% | 41.00% | ||
Physpeed [Member] | Earn-out Consideration [Member] | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Payment of Contingent Consideration | $ 240 | 0 | ||
Business Combination, Contingent Consideration, Liability | 241 | 82 | $ 400 | $ 300 |
Fair Value, Measurements, Recurring [Member] | Earn-out Consideration [Member] | Contingent Consideration [Member] | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Available-for-sale Securities, Debt Securities, Current | 241 | |||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Available-for-sale Securities, Debt Securities, Current | 241 | 395 | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Contingent Consideration [Member] | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Available-for-sale Securities, Debt Securities, Current | 241 | 395 | ||
Estimate of Fair Value Measurement [Member] | Fair Value, Measurements, Recurring [Member] | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Available-for-sale Securities, Debt Securities, Current | 241 | 395 | ||
Estimate of Fair Value Measurement [Member] | Fair Value, Measurements, Recurring [Member] | Contingent Consideration [Member] | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Available-for-sale Securities, Debt Securities, Current | 241 | 395 | ||
Fair Value, Measurement with Unobservable Inputs Reconciliations, Recurring Basis, Liability Value | 395 | 265 | 265 | |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Gain (Loss) Included in Earnings | $ 86 | $ (183) | ||
Fair Value, Measurement with Unobservable Inputs Reconciliations, Recurring Basis, Liability Value | $ 395 |
Financial Instruments Financi40
Financial Instruments Financial Instruments - Additional Information (Details 4) | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2016USD ($)debt_security | Mar. 31, 2016USD ($)debt_security | Dec. 31, 2015USD ($) | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Fair Value, Assets, Level 1 to Level 2 Transfers, Amount | $ 0 | $ 0 | |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | debt_security | 24 | 24 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | $ 38,000,000 | $ 38,000,000 | |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | $ 16,000 | $ 16,000 | $ 114,000 |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net | 0 | ||
Fair Value, Assets, Level 2 to Level 1 Transfers, Amount | $ 0 | ||
Minimum [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available For Sale Securities Non Current Maturity Period | 1 year | ||
Maximum [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Period Of Unrealized Loss Position | 12 months | ||
Available For Sale Securities Non Current Maturity Period | 2 years | ||
Maximum [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Fair Value Inputs, Discount Rate | 64.00% | 41.00% | |
Investments [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | $ 16,000 | $ 16,000 | $ 114,000 |
Balance Sheet Details - Cash an
Balance Sheet Details - Cash and Investments (Details 1) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 | Mar. 31, 2015 | Dec. 31, 2014 |
Balance Sheet Related Disclosures [Abstract] | ||||
Cash and cash equivalents | $ 76,840 | $ 67,956 | $ 22,769 | $ 20,696 |
Short-term investments, available-for-sale | 73,210 | 43,300 | ||
Long-term investments, available-for-sale | 16,782 | 19,242 | ||
Investments and Cash | $ 166,832 | $ 130,498 |
Balance Sheet Details - Invento
Balance Sheet Details - Inventory (Details 2) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Balance Sheet Related Disclosures [Abstract] | ||
Work-in-process | $ 14,866 | $ 15,713 |
Finished goods | 14,555 | 16,730 |
Inventory Total | $ 29,421 | $ 32,443 |
Balance Sheet Details - Propert
Balance Sheet Details - Property and Equipment (Details 2) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Dec. 31, 2015 | |
Property, Plant and Equipment [Line Items] | ||
Property and equipment, Gross | $ 49,254 | $ 46,851 |
Less accumulated depreciation and amortization | (27,716) | (24,993) |
Property and equipment, net | $ 21,538 | 21,858 |
Furniture and fixtures [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Useful life | 5 years | |
Property and equipment, Gross | $ 2,494 | 2,458 |
Machinery and equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, Gross | $ 23,914 | 23,679 |
Machinery and equipment [Member] | Minimum [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Useful life | 3 years | |
Machinery and equipment [Member] | Maximum [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Useful life | 5 years | |
Masks and production equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Useful life | 2 years | |
Property and equipment, Gross | $ 8,084 | 8,062 |
Software [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Useful life | 3 years | |
Property and equipment, Gross | $ 3,022 | 3,017 |
Leasehold improvements [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, Gross | $ 11,363 | 9,573 |
Leasehold improvements [Member] | Minimum [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Useful life | 4 years | |
Leasehold improvements [Member] | Maximum [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Useful life | 5 years | |
Construction in progress [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, Gross | $ 377 | $ 62 |
Balance Sheet Details - Intangi
Balance Sheet Details - Intangible Assets (Detail 3) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Dec. 31, 2015 | |
Finite-Lived Intangible Assets [Line Items] | ||
Intangibles assets, Gross | $ 80,521 | $ 80,521 |
Less accumulated amortization | (34,428) | (32,366) |
Intangible assets, net | 46,093 | 48,155 |
Intangible assets, net | $ 49,293 | 51,355 |
Licensed Technology [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Weighted average amortization period in years | 3 years | |
Intangibles assets, Gross | $ 2,921 | 2,921 |
Less accumulated amortization | (2,813) | (2,725) |
Intangible assets, net | $ 108 | 196 |
Developed Technology Rights [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Weighted average amortization period in years | 7 years | |
Intangibles assets, Gross | $ 47,000 | 47,000 |
Less accumulated amortization | (6,331) | (4,652) |
Intangible assets, net | $ 40,669 | 42,348 |
Trademarks and Trade Names [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Weighted average amortization period in years | 7 years | |
Intangibles assets, Gross | $ 1,700 | 1,700 |
Less accumulated amortization | (222) | (162) |
Intangible assets, net | $ 1,478 | 1,538 |
Customer Relationships [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Weighted average amortization period in years | 5 years | |
Intangibles assets, Gross | $ 4,700 | 4,700 |
Less accumulated amortization | (862) | (627) |
Intangible assets, net | $ 3,838 | 4,073 |
Order or Production Backlog [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Weighted average amortization period in years | 1 year | |
Intangibles assets, Gross | $ 24,200 | 24,200 |
Less accumulated amortization | (24,200) | (24,200) |
Intangible assets, net | $ 0 | $ 0 |
Balance Sheet Details - Amortiz
Balance Sheet Details - Amortization of Company's Intangible Assets (Details 4) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Finite-Lived Intangible Assets, Amortization Expense, Fiscal Year Maturity [Abstract] | ||
Finite-Lived Intangible Assets, Amortization Expense, Remainder of Fiscal Year | $ 5,981 | |
2,017 | 7,931 | |
2,018 | 7,914 | |
Finite-Lived Intangible Assets, Amortization Expense, Year Four | 7,897 | |
Finite-Lived Intangible Assets, Amortization Expense, Year Five | 7,270 | |
Finite-Lived Intangible Assets, Amortization Expense, Rolling after Year Five | 9,100 | |
Intangibles assets, Gross | $ 46,093 | $ 48,155 |
Balance Sheet Details - Deferre
Balance Sheet Details - Deferred Revenue and Deferred Profit (Details 5) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Balance Sheet Related Disclosures [Abstract] | ||
Deferred revenue-rebates | $ 122 | $ 118 |
Deferred revenue - distributor transactions | 9,162 | 5,695 |
Deferred cost of net revenue - distributor transactions | (2,761) | (1,747) |
Deferred revenue and deferred profit | $ 6,523 | $ 4,066 |
Balance Sheet Details- Accrued
Balance Sheet Details- Accrued Price Protection Liability (Details 6) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Accrued Price Protection Rebate Activity [Roll Forward] | ||
Begining Balance | $ 20,026 | $ 10,018 |
Charged as a reduction of revenue | 10,243 | 6,009 |
Reversal of unclaimed rebates | (1,302) | (12) |
Payments | (10,524) | (3,350) |
Ending Balance | $ 18,443 | $ 12,665 |
Balance Sheet Details - Accrued
Balance Sheet Details - Accrued Expenses (Details 6) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Balance Sheet Related Disclosures [Abstract] | ||
Accrued technology license payments | $ 3,000 | $ 3,000 |
Accrued professional fees | 786 | 1,196 |
Accrued restructuring | 2,388 | 1,633 |
Accrued litigation costs | 85 | 534 |
Accrued royalty | 2,453 | 2,042 |
Accrued Rent, Current | 1,306 | 0 |
Other | 7,251 | 6,963 |
Total | $ 17,269 | $ 15,368 |
Stock-Based Compensation and 49
Stock-Based Compensation and Employee Benefit Plans (Details 1) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Allocated Share-based Compensation Expense | $ 5,109 | $ 3,719 |
Cost of Sales [Member] | ||
Allocated Share-based Compensation Expense | 43 | 35 |
Research and Development Expense [Member] | ||
Allocated Share-based Compensation Expense | 3,279 | 2,340 |
Selling, General and Administrative Expenses [Member] | ||
Allocated Share-based Compensation Expense | $ 1,787 | $ 1,344 |
Stock-Based Compensation and 50
Stock-Based Compensation and Employee Benefit Plans (Details 2) - Restricted Stock Unit and Restricted Stock Award [Member] - $ / shares shares in Thousands | 3 Months Ended | ||
Mar. 31, 2016 | Mar. 31, 2015 | Dec. 31, 2015 | |
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number | 3,864 | 3,642 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price | $ 10.06 | $ 9.19 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 751 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 14.04 | $ 8.22 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | 471 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Intrinsic Value, Amount Per Share | $ 9.70 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period | 58 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures and Expirations in Period, Weighted Average Intrinsic Value | $ 10.56 |
Stock-Based Compensation Stock-
Stock-Based Compensation Stock-Based Compensation and Employee Benefit Plans (Details 3) - shares shares in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Common Stock, Capital Shares Reserved for Future Issuance | 15,026 | |
Employee Stock Option [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number | 3,359 | |
Restricted Stock Unit and Restricted Stock Award [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number | 3,864 | 3,642 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number | 3,864 | |
Equity Incentive Plan [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number | 6,556 | |
Employee Stock Purchase Plan [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number | 1,247 |
Stock-Based Compensation and 52
Stock-Based Compensation and Employee Benefit Plans - Additional Information (Details 4) - USD ($) $ / shares in Units, $ in Thousands, shares in Millions | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2016 | Mar. 31, 2015 | Dec. 31, 2015 | Jan. 01, 2016 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Outstanding | $ 71,400 | |||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options | $ 1,300 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Remaining Contractual Term | 1 year 2 months 5 days | |||
Issuance of Stock and Warrants for Services or Claims | $ 100 | |||
Allocated Share-based Compensation Expense | 5,109 | $ 3,719 | ||
Deferred Compensation Share-based Arrangements, Liability, Current | 3,500 | |||
Share Based Compensation Arrangement By Share Based Payment Award Other Than Options Outstanding Intrinsic Value | $ 7,400 | |||
Restricted Stock Unit and Restricted Stock Award [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 14.04 | $ 8.22 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Remaining Contractual Term | 2 years 7 months 16 days | |||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $ 30,700 | |||
Employee Stock Option [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Grant Date Intrinsic Value | $ 0 | |||
Entropic Communications Stock Compensation [Member] | Employee Stock Option [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Allocated Share-based Compensation Expense | $ 300 | |||
Equity Incentive Plan [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 2.5 | |||
Employee Stock Purchase Plan [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 0.8 |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Income Taxes [Abstract] | ||
Valuation Allowance, Deferred Tax Asset, Release due to Acquisition, amount | $ 1,800 | |
Provision for income taxes | 2,558 | $ 204 |
Unrecognized Tax Benefits, Period Increase (Decrease) | 300 | |
Significant Change in Unrecognized Tax Benefits is Reasonably Possible, Other Information | 100 | |
Unrecognized Tax Benefits, Interest on Income Taxes Accrued | 100 | |
Unrecognized Tax Benefits, Income Tax Penalties Accrued | $ 50 |
Significant Customer and Geog54
Significant Customer and Geographic Information Significant Customer and Geographic Information (Details) | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Net Revenue [Member] | Customer Concentration Risk [Member] | Arris Corporation [Member] | ||
Concentration Risk [Line Items] | ||
Concentration risk percentage | 24.00% | 29.00% |
Net Revenue [Member] | Customer Concentration Risk [Member] | Cisco [Member] | ||
Concentration Risk [Line Items] | ||
Concentration risk percentage | 18.00% | 14.00% |
Net Revenue [Member] | Customer Concentration Risk [Member] | WNC Corporation | ||
Concentration Risk [Line Items] | ||
Concentration risk percentage | 14.00% | |
Net Revenue [Member] | Geographic Concentration Risk [Member] | China [Member] | ||
Concentration Risk [Line Items] | ||
Concentration risk percentage | 81.00% | 71.00% |
Accounts Receivable [Member] | Customer Concentration Risk [Member] | WNC Corporation | ||
Concentration Risk [Line Items] | ||
Concentration risk percentage | 19.00% | 16.00% |
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Petragon Corporation [Member] | ||
Concentration Risk [Line Items] | ||
Concentration risk percentage | 16.00% | 17.00% |
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Sernet Technologies Corporation | ||
Concentration Risk [Line Items] | ||
Concentration risk percentage | 13.00% | 14.00% |
Accounts Receivable [Member] | Customer Concentration Risk [Member] | MTI Jupiter Technologies | ||
Concentration Risk [Line Items] | ||
Concentration risk percentage | 13.00% |
Commitments and Contingencies55
Commitments and Contingencies Commitments and Contingencies (Details) $ in Thousands | Mar. 31, 2016USD ($) |
Long-term Purchase Commitment [Line Items] | |
Contractual Obligation | $ 68,876 |
Operating Leases | |
2016 (nine months) | 5,991 |
2,017 | 6,809 |
2,018 | 6,001 |
2,019 | 5,678 |
2,020 | 6,024 |
Thereafter | 7,590 |
Total minimum payments: | 38,093 |
Other Obligations | |
2016 (nine months) | 5,708 |
2,017 | 4,948 |
2,018 | 830 |
2,019 | 0 |
2,020 | 0 |
Thereafter | 0 |
Total minimum payments: | 11,486 |
Contractual Obligation, Due in Second Year | 11,757 |
Contractual Obligation, Due in Third Year | 6,831 |
Contractual Obligation, Due in Fourth Year | 5,678 |
Contractual Obligation, Due in Fifth Year | 6,024 |
Contractual Obligation, Due after Fifth Year | 7,590 |
Contractual Obligation, Future Minimum Payments Due, Remainder of Fiscal Year | 30,996 |
Inventories [Member] | |
Long-term Purchase Commitment [Line Items] | |
Recorded Unconditional Purchase Obligation, Due in Remainder of Fiscal Year | 19,297 |
Recorded Unconditional Purchase Obligation Due in Second Year | 0 |
Recorded Unconditional Purchase Obligation Due in Third Year | 0 |
Recorded Unconditional Purchase Obligation Due in Fourth Year | 0 |
Recorded Unconditional Purchase Obligation Due in Fifth Year | 0 |
Recorded Unconditional Purchase Obligation Due after Fifth Year | 0 |
Recorded Unconditional Purchase Obligation | $ 19,297 |
Commitments and Contingencies56
Commitments and Contingencies Commitments and Contingencies - Additional Details (Details 2) | Nov. 11, 2015 | Dec. 17, 2013 | Mar. 31, 2016USD ($)ft² |
Lease Expiration Date | Dec. 31, 2022 | ||
The Campus Carlsbad, LLC [Member] | |||
Date Amended Carlsbad Lease | May 6, 2015 | ||
Operating Lease, Area of Property | ft² | 45,000 | ||
Operating Lease, Additional Square Footage | ft² | 24,000 | ||
Lease Incentive for Leasehold Improvements | $ 1,543,000 | ||
Lessee Leasing Arrangements, Operating Leases, Term of Contract | 3 years 7 months | ||
Northwest Mutual Life Insurance Company [Member] | |||
Operating Lease, Area of Property | ft² | 50,235 | ||
Lease Incentive for Leasehold Improvements | $ 2,700,000 | ||
Date of Irvine Lease at Parker | Nov. 11, 2015 | ||
Operating Leases, Rent Expense, Minimum Rentals | $ 68,000 | ||
Operating Leases, Rent Expense, Minimum Rentals, Escalated | $ 86,000 | ||
Lessee Leasing Arrangements, Operating Leases, Renewal Term | 5 years | ||
Lessee Leasing Arrangements, Operating Leases, Term of Contract | 6 years 2 months |
Commitments and Contingencies57
Commitments and Contingencies Commitments and Contingencies - Litigation (Details 3) | May. 16, 2014claim | Oct. 31, 2015patentclaim | Mar. 31, 2016USD ($)claim | Feb. 09, 2015claim |
Loss Contingencies [Line Items] | ||||
Lease Expiration Date | Dec. 31, 2022 | |||
Number of pending claims | 11 | |||
Legal Fees | $ | $ 150,000 | |||
CrestaTech Technology Corporation v. MaxLinear, Inc. [Member] | ||||
Loss Contingencies [Line Items] | ||||
Loss Contingency, Allegations | 3 | |||
Patents found not infringed upon | patent | 2 | |||
Inter Partes Review by US Patent Office [Member] | ||||
Loss Contingencies [Line Items] | ||||
New claims filed | 4 | |||
Claims dismissed | 4 | |||
Inter Partes Review by US Patent Office v. CrestaTech Patents [Member] | ||||
Loss Contingencies [Line Items] | ||||
Number of pending claims | 6 |
Subsequent Event Subsequent E58
Subsequent Event Subsequent Events (Details) $ in Millions | 3 Months Ended |
Mar. 31, 2016USD ($) | |
Subsequent Event [Line Items] | |
Business Combination, Consideration to be Transferred | $ 80 |
Wireless Infrastructure Backhaul Business of Broadcom Ltd [Member] [Member] | |
Subsequent Event [Line Items] | |
Business Acquisition, Date of Acquisition Agreement | May 9, 2016 |
Business Acquisition, Date Expected to Close | Jul. 1, 2016 |
Broadband Wireless Division of Microsemi Storage Solutions, Inc. [Member] | |
Subsequent Event [Line Items] | |
Business Acquisition, Date of Acquisition Agreement | Apr. 28, 2016 |
Business Combination, Consideration Transferred | $ 21 |