Kishore. you, Thank
our and review QX XXXX first outlook discuss our QX I'll then XXXX. further results for
business up we in business increase category. infrastructure our weakness within this million RF of X% in portfolio, saw some to due offset for sequentially revenue HPA which demand wireless backhaul our in Our XX.X
decreased Our our of satellite offset XX% X.X with and by cable connected business early continued stage solutions strong deployments MoCAX.X markets. softness and in home
business with demand Industrial by Our was broadband aided improvements in strong share Multimarket broad-based which particularly were China, with initiatives. sequentially up XX% focus gain by
non-GAAP the XX.X% second quarter GAAP margins revenue and of gross XX.X% for were respectively. and approximately
mix to of margin XX.X% operational margin Our to sequentially XX This guidance and non-GAAP to improved points categories gross gross XX% margin XX.X%. product our reported basis to guidance non-GAAP improved improvements. GAAP compares gross of due and XX% within
in the from reflects of X.X million between purchase of stock-based amortization The quarter compensation. delta assets the gross intangible GAAP and X.X acquisitions margin and previous second of non-GAAP million
guidance of expenses quarter to expenses included stock-based and assets amortization $X.X compensation of operating million Second million, million, in GAAP due below mainly of our XX was XX which than $X million, GAAP to GAAP lower of expected stock-based purchased XX.X were restructuring. million bonus operating approximately million accruals. intangible $X.X
were expenses $X.X million, to below to was $XX and operating sequentially which of management. million our down million $XX.X non-GAAP Non-GAAP $XX.X due disciplined expense million,
OpEx We reductions success. last period spend quarters, this quarterly the year-over-year. run transitional continued non-GAAP was rate three sequential in X% during to diligently to four down moderate of After with our good the work
statement. cash and sheet flow balance the to Moving
debt the debt the $XX XXXX.We first million made to towards generated during in quarter as from XXXX with down generated Our loan versus our cash of in of quarter million operating our focus cash in million $XX prepayments was term we activities $XX.X on the flow continue quarter second generation. approximately pay
million. total debt brings the we $X debt prepayment million recently prepayments balance made another million QX.This $XXX during addition, In to loan and $XXX our down to
outstanding the XX of approximately sales below second was quarter the days days. days, sales outstanding prior which was for slightly quarter Our day XX
quarter. slightly in the to to first turns inventory compared Our decreased X.X X.X
the to range. currently of guidance. midpoint to be down the third X% expect million, That approximately our sequentially $XX me We of the guidance leaves in $XX XXXX to million revenue quarter at
As X our accordance press release, Action. shipped June we Huawei shipments with of and to in you Bureau from Security Industry the recall
Huawei continue shipments result license scenarios would request. potential resumption in that to of legal evaluate We to including
sequentially. which from are guidance sizable and impact excludes However, revenue any our potential affiliates, Huawei
MaxLinear ability can is government We to as requirements issues market-driven resume. these around We of the as comply our operations. for whether hope dynamic. so actions remains as quickly additional trade situation with across government reached and all ship trade actions will cannot predict resolution Huawei may our impact the continue to legal global further possible
roughly and connected revenues of due our in result home through a in in reductions Bottom,] one satellite the driven going of down the in to XX% connected satellite and on expect sequentially, home be recovery categories headwinds primarily cable X% [Unison for our demand by employees products markets. strike, subdued Additionally, houses macro QX.We to continued ensuing XX down, test to shut potential Indonesia constraints an supply as and we're facing shutdown abrupt
also is band single-digit to little and distributor to couple We sequential follow mid-single-digit a to HPA improvement within high to revenue key owing and category, improved sell-through infrastructure softness our shipment in from expected industrial with our which be through which lumpy. tends business patterns, seen multimarket Within the we've expect coupled on revenue a decline Huawei this yield of growth. accounts
to to XX.X% quarter between and a of gross margin to approximately revenue. and infrastructure mix revenue third be to to GAAP weaker XX% multimarket approximately non-GAAP sequentially the XX% and of owing down expect profit to XX.X% gross mainly margins We profit be due revenue, shifts industrial
X% minus on margin our gross mix depending reminder, factors. and vary or product plus forecast a As other profit can
we initiatives to are with increasing as strategic rate growth fund our development focused infrastructure business. we programs the and top and in leverage on delivering stated our in line targeted XXXX our run focus goal operating spend on beyond of continue Even particular the strong reducing levels, at
expect $XX.X in a expenses QX fees expected accrual range mask expenses, within increase operating our stock-based $XX.X bonus remain professional to and of quarter-on-quarter payroll. partly million mainly reductions offset driven by in approximately we such, to As GAAP and the flat million, by XXXX
to $X.X sequentially We to of expenses be million $XX range million. to non-GAAP operating expect a QX $XX down approximately million XXXX
interest expect the approximately quarter to expenses be zero X%.We tax We non-GAAP million other $X.X GAAP of to rate expect and million. tax and expense to $X.X in be
initiatives, pleased in engagements infrastructure portfolio. of our we're our and engineering in XXX transceiver expanding platform In closing, infrastructure progress milestones data our gig power XG of to our design by management market, highlighted and center report expansion massive-MIMO
profitability well term, to investments. strategic continued and strong connected a As home will environment continue we cash near generation, we continue maintain of flow as outpace navigate in as through to the turbulent
cycles center and investments business XXXX. XXXX initiatives of second into us well and our combined our with revenue to infrastructure data execution strong as in leverage and generate deliver product of the position to markets half start upcoming These strong new upgrade wireless in in the many
up to that, open call With like the questions. Operator? I'd for
