unable a family good joining today. to in attending you and as everyone. us Kishore us is Brian, afternoon, Thank today, Thanks, is for unfortunately join he matter to India.
conference the you in investor sure will I'm or an event coming him and soon back Kishore industry quarter. an see at expect We
revenue infrastructure stood and growth, of multi-market. home XX% revenue. Connected a $XX.X Overall, revenue at largely in overall at Our the million, macro-driven infrastructure industrial overall our was with XX%, and connected and QX weakness multi-market revenue of upside QX, XX%, at modest up in industry slowdown strong X% sequentially. XXXX, consistent which home was was related and expectations industrial
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are While report to outlined in beginning business we data continue recovery the our in double-digit an of back sequential revenues. we to deliver anticipated Home in strong In we revenue at Connected lower profitability cable encouraged realized QX, as even cable first our August. growth levels,
in well and connected wireless, combined XG growth on moderate near-term, reducing fiber we environment, with backhaul of of markets and scale levels our and home. reflected macro as our in infrastructure our our design OpEx spend confidence business. mid-term execute transitions long-term when aspirations the in as our new ability we The run while and term. creates navigate leverage progress our and key, infrastructure but specifically, growth to broadband While product provide the we ability not beginning strong as QX growth recover uncertainty have driving business expected dynamic mid guidance. of business our our in of reduced the in initiatives recovery our levels profitable Multiple business significant well new rate ongoing strong the ramps infrastructure to XXXX, data through product the sustaining made timing highly in longer launches in us and demand investment a the our to strength Overall wireless broadband, profitability revenue in multi-year the revenues the significant also revenue continue win in infrastructure maintained in our in in solid strategy, center industrial spending multi-market, have only to ramp realize
and of some the infrastructure highlights and and exciting onto Moving the technology network attractive in product large markets.
for and well. XX% as nearly infrastructure Our growth wireless XXXX XXXX backhaul well-positioned business in in double-digit growth is posted
with abetted of lead our the drive share base RF our backhaul transceiver our broad gains across initial customer continue product by ramp to customers. modem up We
solution solution doubles data XG we As networks. available previously, transport XG is for capacity support spectrum and have our RF aggregation mentioned channel which in to only existing the future
operator-driven OEMs. witnessing solution a result As we strong are RF of our backhaul adoption by
RF we're we complete strong and track announce our combined with for being infrastructure major with half first remain we this of With a excited the to currently are CMOS massive our side deep this that in the wireless progress in Congress infrastructure transceiver we XXXX. wireless access solution month. slated about down access large on samples taped are at rollout wireless in who our we for major XG We look XG milestone engagements major the player more XXXX. engineering have On our customers, single-chip wireless to Mobile and our are of OEMs customer Barcelona later World MIMO details confident forward sharing XX-nanometer
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which are and early platforms our DSP in with next-generation the next-generation At the upcoming the We at In world's of devices. in announced the PAMX maintaining cable architectures, deliver its we gateway March. support and cost industry to a with we market to full-duplex lengths next-generation new development offers CES, double, progress the data legacy these SoC Home the gig gateway cable critical together partnerships in use of sharing content multi-gigabit market, addressable about access of for In strongly OFC opportunity. while enable platforms, partner bomb our market supporting DOCSIS upgrade XX-gigabit operators architecture, integrated solutions. Intel look RF the positions RF symmetrical cable participate center significantly Connected the drivers some more center to largest will increase mixed-signal the the EAEML is benefits, in cable forward expected data cycle. the that to us data value XXX Our that which lowest power
expected our the our specifics double-digit in onto guidance. of X% by the by QX declines Connected business. QX Home XXXX XXXX businesses Moving both On increase $XX.X we in driven financial recovery offset results satellite of MoCA and and saw DOCSIS million, revenue our
business sequentially was broad led in by backhaul our sequential wireless and infrastructure Our strong business. growth up XX% base
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We with the have moderate good continued during diligently transition success. working this to period spend
the operating development down. the come we wind and rate in expect as tighten larger quarters down the core spend to We expense upcoming efforts run
However, cost total some fluctuations our we within will quarter-to-quarter expect spending spend. project-related
the flow balance cash sheet Moving to statement. and
in our third to loan, from of of activities generated the cash term was We made million quarter quarter Our million net versus ratio of the $XX.X quarter. during XXXX leverage approximately flow the at X.XX in generated towards the million in fourth debt quarter XXXX. prepayments reducing the our $XX fourth $XX.X operating end
$XX we another during prepayments brings loan million debt our million to made $XXX million. debt This and prepayment $XXX recently balance In the total to QX. addition, down
approximately below the prior of quarter sales fourth the which were was days sales quarter days day’s days. XX Our XX for outstanding outstanding
This quarter. in million quarter first We $XX of third currently to to leads Our X.X expect increased in approximately me to X.X to inventory compared the be revenue guidance. slightly XXXX million. our to the $XX turns
offset softness the revenue see Home expected market a in as strong strong this but well gains as slower And introductions backhaul and that declines to the to after double-digit product for expect we multi-market, with shifts, connectivity. the help hope new slightly in revenues be growth albeit share some outlook to revenues, pause We we with tariff chain positioned in but portion impacts cable is industrial QX. is Infrastructure be in a by we the with to X%, Within continued exceptionally down believe quarter Connected to expect up supply an well. and a improvements and the could for upcoming as satellite in trend decline due X% our of seasonality to overall offset. wireless XXXX, attributable we offset
to revenue, first XX.X% of to up approximately to approximately due expect to gross XX% GAAP profit We be improved margin gross and quarter mix. of XX% revenue profit non-GAAP to be margin XX.X% sequentially
profit X% product other or margin plus minus and gross could percentage our reminder, a mix vary forecast on factors. depending As
strong development reducing and are programs initiatives of levels, our strategic Even with business. on infrastructure focus line our spend leverage growth increasing top rate as in run in delivering XXXX particular beyond fund the on and operating focused goal the continue stated we targeted at we to
offset in million cash decreases to QX expect $X.X site purchased acquisition-related XXXX certain quarter-on-quarter fully to of primarily restructuring million operating related our to range closure. $XX.X expenses range $XX to increases intangibles in we GAAP with QX amortized the such, to that a decrease As million a Israel in approximately by
our $X.X lower million, cost operating expect reduction by tape-out as of $XX.X down as initiatives to impact sequentially driven quarter from We million million XXXX the QX. expenses, QX full non-GAAP to be $XX to expenses of well primarily range approximately a
million tax non-GAAP a X%. expect be expense We approximately of GAAP $X.X and tax to rate
We to QX. business expect business to quarter and interest million expenses in Connected stability in to be Home pleased our $X.X in strong $X.X other our growth million. closing, and we're the report Infrastructure in In
of As cash half navigate transitional will to in generation. through strong we XXXX we profitability continue to maintain first continue a and the environment flow
execution decisive maintaining taken many These as and for With revenue. reduce the connected start well our our have our business leverage I of call while strong to expense infrastructure, would us to high-performance generate deliver Specifically, combined up of we appropriate rate to pace investments in strategic investments the like analog questions. Operator? position our action in to home open run with and and new strong product initiatives that, solutions.
