$4.1 B

MLNX Mkt cap, 21-Sep-2018

$519.5 M

Mellanox Technologies Revenue Q2, 2018
Mellanox Technologies Gross profit (Q2, 2018)326.8 M
Mellanox Technologies Gross profit margin (Q2, 2018), %62.9%
Mellanox Technologies Net income (Q2, 2018)54.4 M
Mellanox Technologies EBIT (Q2, 2018)28.5 M
Mellanox Technologies Cash, 30-Jun-201863.4 M

Mellanox Technologies Revenue

Mellanox Technologies revenue was $863.89 m in FY, 2017 which is a 0.7% year over year increase from the previous period.

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Mellanox Technologies Revenue Breakdown

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Mellanox Technologies revenue breakdown by business segment: 17.8% from Cables, accessories and other, 25.8% from Switch systems, 37.7% from Boards and 18.7% from ICs

Mellanox Technologies revenue breakdown by geographic segment: 20.5% from Europe , 37.9% from United States, 10.9% from Other Asia, 10.7% from Other Americas and 20.0% from China

Mellanox Technologies Income Statement

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Revenue

390.9 m463.6 m658.1 m857.5 m863.9 m

Revenue growth, %

19%42%30%1%

Cost of goods sold

135.2 m148.7 m189.2 m302 m300.5 m

Gross profit

255.6 m315 m468.9 m555.5 m563.4 m

Gross profit Margin, %

65%68%71%65%65%

Sales and marketing expense

133.8 m150.5 m

R&D expense

322.6 m365.9 m

General and administrative expense

68.5 m52.2 m

Operating expense total

524.9 m580.5 m

EBIT

(20.3 m)(7.2 m)75.1 m30.6 m(17.1 m)

EBIT margin, %

(5%)(2%)11%4%(2%)

Interest expense

7.4 m7.9 m

Pre tax profit

(21.9 m)

Income tax expense

(3.8 m)(18.3 m)(2.5 m)

Net Income

(22.9 m)(24 m)92.9 m18.5 m(19.4 m)

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q1, 2018Q2, 2018

Revenue

104.1 m98.7 m102.6 m120.7 m146.7 m163.1 m171.4 m196.8 m214.8 m224.2 m188.7 m212 m251 m519.5 m

Cost of goods sold

37 m33.8 m34.3 m39.5 m41.1 m47.2 m49.1 m70.5 m79.8 m78.2 m64.5 m73.4 m89 m192.7 m

Gross profit

67 m64.9 m68.3 m81.2 m105.6 m116 m122.2 m126.3 m135 m146 m124.2 m138.5 m162 m326.8 m

Gross profit Margin, %

64%66%67%67%72%71%71%64%63%65%66%65%65%63%

Sales and marketing expense

18.1 m19.3 m18.7 m18.9 m22.6 m23.4 m24.8 m31.2 m32.6 m34.4 m35.8 m38.1 m39.5 m75.2 m

R&D expense

44.2 m48.3 m49.5 m54.2 m58.1 m62.6 m65.9 m71 m82.3 m83.6 m88.5 m92.3 m86.4 m173.6 m

General and administrative expense

9.6 m8.2 m9.5 m9.2 m9.7 m10.7 m10.9 m27.9 m13.5 m13.5 m12.5 m12.5 m16.5 m40.2 m

Operating expense total

71.9 m75.8 m77.7 m82.3 m90.4 m96.6 m101.6 m130.2 m128.4 m131.5 m136.8 m142.9 m150 m298.3 m

EBIT

(4.8 m)(10.9 m)(9.4 m)(1.1 m)15.2 m19.4 m20.6 m(3.9 m)6.6 m14.5 m(12.6 m)(4.4 m)12 m28.5 m

EBIT margin, %

(5%)(11%)(9%)(1%)10%12%12%(2%)3%6%(7%)(2%)5%5%

Interest expense

998 k2.2 m2.2 m2 m2 m1.2 m2 m

Income tax expense

(1.1 m)(654 k)2.2 m(1 m)2.4 m46 k(874 k)2.4 m

Net Income

(5.4 m)(11.4 m)(9 m)428 k10.5 m19.2 m20 m(7.2 m)4.7 m12 m(12.2 m)(8 m)37.8 m54.4 m

Mellanox Technologies Balance Sheet

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Cash

63.2 m51.3 m263.2 m56.8 m62.5 m

Accounts Receivable

70.6 m64.9 m84.3 m141.8 m154.2 m

Inventories

36 m44.5 m62.5 m65.5 m64.7 m

Current Assets

450.8 m516.5 m677.2 m553.1 m506.9 m

PP&E

70.8 m78.8 m100 m118.6 m109.9 m

Goodwill

199.6 m200.7 m200.7 m471.2 m472.7 m

Total Assets

806.8 m863.2 m1.1 b1.5 b1.4 b

Accounts Payable

30 m39.8 m44.6 m59.5 m59.1 m

Current Liabilities

99.6 m117.6 m137.1 m212.6 m196.6 m

Long-term debt

72.8 m

Total Debt

72.8 m

Total Liabilities

497.8 m344.5 m

Common Stock

221 k

Additional Paid-in Capital

550.8 m615.1 m684.8 m774.6 m874 m

Retained Earnings

113.6 m90.4 m183.3 m201.8 m181.6 m

Total Equity

666 m701.8 m866.7 m975.7 m1.1 b

Financial Leverage

1.2 x1.2 x1.2 x1.5 x1.3 x

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q1, 2018Q2, 2018

Cash

37.9 m48 m44 m54.9 m61.7 m68.2 m140.5 m117.9 m63.5 m55.5 m58.4 m55.7 m90.6 m63.4 m

Accounts Receivable

73.8 m65.1 m69.4 m73 m55.9 m61 m64.7 m105.1 m117.3 m133.1 m126.2 m149.5 m142.9 m155.7 m

Inventories

32.5 m38.8 m37.1 m39.3 m50.9 m62.8 m63.1 m72.3 m64.7 m61.9 m75.3 m72 m69.9 m94.5 m

Current Assets

421.6 m458.8 m467.6 m491 m555.1 m612.8 m634.5 m462.1 m478.9 m507.5 m549.8 m552.5 m514.6 m544.8 m

PP&E

68.9 m70.4 m68.2 m74 m83.1 m92.3 m97.3 m103.2 m112.3 m113.6 m123.9 m121.2 m110.1 m106.7 m

Goodwill

199.6 m199.6 m199.6 m201.1 m200.7 m200.7 m200.7 m476 m476 m476 m471.2 m471.2 m472.4 m473.9 m

Total Assets

786.9 m812 m815.9 m842.2 m899.2 m963 m986.6 m1.4 b1.4 b1.4 b1.5 b1.5 b1.4 b1.4 b

Accounts Payable

24.8 m28.6 m30.2 m37.2 m40.3 m50.2 m42.2 m47.6 m55.2 m50.5 m63.5 m58.8 m64.5 m71.1 m

Current Liabilities

83.9 m98.8 m101 m110.8 m120.6 m140.9 m127.4 m199.4 m194.1 m184.4 m208.2 m198 m226.7 m216.6 m

Total Liabilities

125.9 m139.8 m140.2 m147.5 m167.2 m190.6 m178.1 m506.6 m493.7 m478.6 m484.8 m461.6 m301.2 m288 m

Additional Paid-in Capital

538.2 m569.1 m581.5 m601.8 m634.1 m650 m670 m713 m732.6 m761.4 m801.8 m820.2 m903 m923.2 m

Retained Earnings

120.9 m102.2 m93.3 m94.9 m100.9 m120.2 m140.1 m176.2 m180.8 m192.8 m188.8 m180.8 m224 m240.5 m

Total Equity

661.1 m672.2 m675.7 m694.7 m732 m772.4 m808.5 m891.8 m913.9 m956.4 m994.2 m1 b1.1 b1.2 b

Financial Leverage

1.2 x1.2 x1.2 x1.2 x1.2 x1.2 x1.2 x1.6 x1.5 x1.5 x1.5 x1.5 x1.3 x1.2 x

Mellanox Technologies Cash Flow

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Net Income

(22.9 m)(24 m)92.9 m18.5 m(19.4 m)

Depreciation and Amortization

35.9 m38.7 m41.4 m97.7 m103.8 m

Accounts Receivable

(8.9 m)5.4 m(19 m)(41.3 m)(12.2 m)

Inventories

9.3 m(9.6 m)(25 m)8.3 m(887 k)

Accounts Payable

(4.4 m)9.7 m3.8 m13.3 m170 k

Cash From Operating Activities

52 m80.1 m150.5 m196.1 m161.3 m

Purchases of PP&E

(30.9 m)(29.9 m)(48.6 m)(43 m)(41.4 m)

Cash From Investing Activities

(121.9 m)(107.7 m)2 m

Long-term Borrowings

(179.4 m)

Cash From Financing Activities

16.1 m15.7 m17.8 m261.6 m(149.6 m)

Net Change in Cash

13.7 m

Interest Paid

57 k31 k27 k5.3 m5.4 m

Income Taxes Paid

1.3 m913 k1.1 m835 k1.2 m

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q1, 2018Q2, 2018

Net Income

(5.4 m)(11.4 m)(9 m)428 k10.5 m19.2 m20 m(7.2 m)4.7 m12 m(12.2 m)37.8 m54.4 m

Depreciation and Amortization

20.6 m26.4 m52.7 m

Accounts Receivable

69.4 m73 m55.9 m61 m64.7 m(4.7 m)117.3 m133.1 m126.2 m11.3 m(1.5 m)

Inventories

37.1 m39.3 m50.9 m62.8 m63.1 m4.4 m64.7 m61.9 m75.3 m(5.7 m)(30.6 m)

Accounts Payable

30.2 m37.2 m40.3 m50.2 m42.2 m3.3 m55.2 m50.5 m63.5 m3.9 m12.5 m

Cash From Operating Activities

48.6 m55.4 m102.1 m

Purchases of PP&E

(8.3 m)(7.2 m)(20.1 m)

Cash From Investing Activities

(477.1 m)(210 k)(43.2 m)

Cash From Financing Activities

283.2 m(27.1 m)(58.1 m)

Mellanox Technologies Ratios

USDY, 2018

Financial Leverage

1.2 x
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Mellanox Technologies Operating Metrics

FY, 2014FY, 2015FY, 2016

Designs

4 8

Patent Applications

157 165 234

Patents (US)

199 236 346

Patents (foreign)

48 49 61
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