MaxLinear, Inc. provides communications systems-on-chip solutions in the United States, Asia, Europe, and internationally. Its products integrate various portions of a high-speed ...
MaxLinear, Inc. is a leading provider of radio frequency (RF), analog, digital, and mixed-signal integrated circuits for the communications and networking markets. Founded in 2003 and headquartered in Carlsbad, California, the company designs and sells SoC solutions that integrate RF, analog, mixed-signal, digital signal processing, security engines, data compression, and ...MaxLinear, Inc. is a leading provider of radio frequency (RF), analog, digital, and mixed-signal integrated circuits for the communications and networking markets. Founded in 2003 and headquartered in Carlsbad, California, the company designs and sells SoC solutions that integrate RF, analog, mixed-signal, digital signal processing, security engines, data compression, and power management into a single solution. Its products are used in 4G/5G base stations, optical transceivers, home networking routers, broadband modems (DOCSIS, PON, DSL), and power management for automotive and industrial applications. The company operates globally, serving clients in the US, Asia, and Europe. Financially, MaxLinear reported a market cap of approximately $6.8 billion as of early 2025, with a stock price around $75. It generates revenue primarily from product sales, but has faced recent losses with negative net profit margins and EBITDA. The company has strategic partnerships, such as with Edgecore Networks for enterprise infrastructure and GCT Semiconductor for 5G fixed wireless access gateways. With over 1,100 employees, MaxLinear emphasizes research and development, allocating about 37.8% of revenue to R&D. Its product portfolio includes high-speed transceivers, broadband access solutions, and connectivity chips for Wi-Fi and Ethernet, positioning it to capitalize on trends like 5G and fiber-to-the-home. The company was founded by Kishore Seendripu, who remains CEO, and was incorporated in 2003, going public in 2010.
YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.
QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).
$467.6M
+29.7%
+23.1%
Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.
$-136.7M
+44.3%
+103.9%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.
+56.8%
+6.5%
+0.6%
Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).
-27.1%
+42.0%
+79.7%
Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.
-29.2%
+57.0%
+103.2%
Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.
$7.0M
+111.1%
+124.1%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.
+1.5%
+108.6%
+119.6%
Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.
34.8%
+20.4%
-13.6%
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.
1.34x
-24.6%
+4.4%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.
Operator : Greetings, and welcome to the MaxLinear Second Quarter 2026 Earnings Conference Call. As a reminder, this conference is being recorded. It is now my pleasure to introduce Leslie Green, Investor Relations. Please go ahead.
Leslie Green : Thank you, Paul. Good afternoon, everyone, and thank you for joining us on today's conference call to discuss MaxLinear's Second Quarter 2026 Financial Results. Today's call is being hosted by Dr. Kishore Seendripu, CEO; and Steve Litchfield, Chief Financial Officer and Chief Corporate Strategy Officer. After our prepared comments, we will take questions. Our comments today include forward-looking statements within the meaning of applicable securities laws, including statements relating to our guidance for the third quarter of 2026, including revenue, GAAP and non-GAAP gross margin, GAAP and non-GAAP operating expenses, GAAP and non-GAAP interest and other expense, GAAP and non-GAAP income taxes and GAAP and non-GAAP diluted share count. In addition, we will make forward-looking statements relating to trends, opportunities, execution of our business plan and potential growth and uncertainties in various product and geographic markets, including, without limitation, statements concerning the future financial and operating results, opportunities for revenue and market share across target segments, new products, including the timing of production and launches of such products, demand for and adoption of certain technologies and our total addressable market. These forward-looking statements involve risks and uncertainties, including risks outlined in the Risk Factors section of our recent SEC filings, including our most recent annual report on Form 10-K and our Form 10-Q for the quarter ended June 30, 2026, which we filed today. Any forward-looking statements are made as of today, and MaxLinear has no obligation to update or revise any forward-looking statements. The second quarter of 2026 earnings release is available in the Investor Relations section of our website at maxlinear.com. In addition, we report certain historical financial metrics, including, but not limited to, gross margin, income or loss from operations, operating expenses, interest and other expense and income tax on both GAAP and non-GAAP basis. We encourage investors to review the detailed reconciliation of our GAAP and non-GAAP presentations in the press release available on our website. We do not provide a reconciliation of non-GAAP guidance for future periods because of the inherent uncertainty associated with our ability to project certain future changes, including stock-based compensation and its related tax effects as well as potential impairments. Non-GAAP financial measures discussed today are not meant to be considered in isolation or as a substitute for comparable GAAP financial measures. We are providing this information because management believes it is useful to investors as it reflects how management measures our business. …