The earnings call highlighted strong revenue growth, positive cash flow expectations, and innovative product developments, offset by ongoing operational losses, geopolitical uncertainties, and challenges in certain market segments.

Company Guidance -

Q3 2025

During the first quarter 2025 earnings call, MaxLinear, Inc. provided guidance for the second quarter of 2025, forecasting revenue to range between $95 million and $115 million. The company expects GAAP and non-GAAP gross margins to be approximately between 57.5% and 59.5% of revenue. GAAP operating expenses are projected to be between $92 million and $98 million, while non-GAAP operating expenses are anticipated to range from $55 million to $61 million. GAAP and non-GAAP interest and other expenses are each expected to be between $2 million and $3 million. The company forecasts a $2.4 million tax expense on a GAAP basis and a non-GAAP tax rate of 10.5%. GAAP and non-GAAP diluted share counts for Q2 2025 are expected to be approximately 87.0 million to 87.5 million. MaxLinear, Inc. expressed confidence in continued growth, driven by innovation and strategic investments in high-speed interconnects, wireless infrastructure, storage, Ethernet, Wi-Fi, and fiber PON gateways, positioning the company for a sustainable return to profitability and cash generation.

Revenue Exceeds Guidance

MaxLinear reported Q1 2025 revenue of $95.9 million, exceeding the midpoint of their guidance. This represents an increase from the previous quarter's revenue of $92.2 million.

Positive Free Cash Flow Expected

The company expects to generate positive free cash flow in Q2 2025, indicating a strong recovery and operational efficiency.

Broadband Revenue Growth

Broadband revenue reached approximately $41 million, driven by strong demand and recovery in core markets.

Data Center and Product Innovation

Significant progress with new products such as the Keystone PAM4 DSP and Rushmore 1.6 terabyte solutions, with plans for further qualification and rollout.

Strong Bookings and Customer Demand

Improvement in customer order rates and backlog, with bookings extending into Q3 and Q4, particularly for broadband products.

Maxlinear (MXL) Earnings, Revenues Date & History

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MXL Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 22, 2025	2025 (Q3)	0.12 / -	-0.36	―	―	―
Jul 23, 2025	2025 (Q2)	0.02 / 0.02	-0.25	108.00% (+0.27)
Apr 23, 2025	2025 (Q1)	-0.05 / -0.05	-0.21	76.19% (+0.16)
Jan 29, 2025	2024 (Q4)	-0.13 / -0.09	0.01	-1000.00% (-0.10)
Oct 23, 2024	2024 (Q3)	-0.32 / -0.36	0.02	-1900.00% (-0.38)
Jul 24, 2024	2024 (Q2)	-0.19 / -0.25	0.34	-173.53% (-0.59)
Apr 24, 2024	2024 (Q1)	-0.22 / -0.21	0.74	-128.38% (-0.95)
Jan 31, 2024	2023 (Q4)	<0.01 / 0.01	1.07	-99.07% (-1.06)
Oct 25, 2023	2023 (Q3)	0.04 / 0.02	1.05	-98.10% (-1.03)
Jul 26, 2023	2023 (Q2)	0.33 / 0.34	1.11	-69.37% (-0.77)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

MXL Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jul 23, 2025	$15.32	$17.25	+12.60%
Apr 23, 2025	$11.01	$9.66	-12.26%
Jan 29, 2025	$21.79	$17.47	-19.83%
Oct 23, 2024	$14.87	$15.09	+1.48%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.