MaxLinear (MXL) Q3 2026: AI Data Center Surge Drives 72% Revenue Growth

Revenue of $218.06 million surged 72.4% compared to the same quarter a year ago, with adjusted EPS and revenue both beating expectations. The results extended the company's streak of consensus EPS beats to five consecutive quarters, a run that began when the business was still reporting losses.

The single biggest driver was infrastructure revenue, which rose 210% year over year on the back of accelerating demand for optical AI data center silicon, powered by the Keystone PAM4 DSP platform now in volume ramp alongside the Rushmore and Annapurna lines of 1.6T-capable optical and electrical products. CEO Kishore Seendripu described these as enabling a broad range of emerging AI data center architectures.

The scale of the infrastructure surge was enough to flip the company's overall profitability. MaxLinear reported GAAP net income of $28.90 million in the quarter, compared to a net loss in the year-ago period, reflecting both the revenue growth and meaningful operating leverage as the business scaled.

Management guided Q4 2026 revenue of $240 million to $260 million, a range that sits above the quarter just reported and points to continued sequential momentum. Non-GAAP gross margin is expected to hold in the high 50s to low 60s, suggesting the infrastructure mix shift is also supporting the margin profile as volumes increase.