MaxLinear shares rise as Q3 revenue jumps 56% YoY, beats estimates

CARLSBAD, Calif. - MaxLinear, Inc. (NASDAQ:MXL) shares gained 4.4% after the RF and mixed-signal integrated circuits provider reported third quarter revenue that exceeded analyst expectations, driven by strong sequential and year-over-year growth.

The company posted third quarter revenue of $126.5 million, beating the analyst consensus of $124.65 million and representing a 56% increase YoY. Non-GAAP earnings per share came in at $0.14, surpassing analyst estimates of $0.12. The company also reported a significant improvement in profitability, swinging to a non-GAAP income from operations of 12% of revenue compared to a loss of 31% in the year-ago quarter.

"Our third quarter results reflect strong sequential and year-over-year growth in our business," said Kishore Seendripu, PhD, Chairman and CEO. "With solid execution, we again exceeded the mid-point of our revenue guidance, realized a strong sequential increase in our profitability on a non-GAAP basis, and generated positive free cash flow."

Looking ahead, MaxLinear provided fourth quarter revenue guidance of $130 million to $140 million, with the midpoint of $135 million representing a 6.7% sequential increase. The company also expects non-GAAP gross margin of 58% to 61% for the fourth quarter.

The positive results come as MaxLinear continues to invest in key growth areas including data center optical interconnects, wireless infrastructure, PON broadband access, Wi-Fi7, Ethernet and storage accelerator products. These investments are aimed at broadening customer traction and creating new content opportunities for sustained growth in 2026.

The company’s cash flow from operations was $10.1 million in the third quarter, compared to cash used in operations of $30.7 million in the year-ago quarter, highlighting the significant financial improvement over the past year.

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