MaxLinear (MXL) Q3 2026 Earnings
How Did MXL Stock React to Q3 2026 Earnings?
Did MXL Beat Earnings? Q3 2026 Results
Yes. MaxLinear reported Q3 2026 earnings of $0.62 a share on Oct 22, 2026, beating the $0.56 consensus estimate by 11.2%. Revenue was $218.1M against a $210.2M estimate.
MaxLinear delivered a standout Q3 2026, beating Wall Street expectations on both the top and bottom lines and extending its streak of consensus EPS beats to five consecutive quarters. The semiconductor company posted adjusted non-GAAP EPS of $0.62, ahead of the $0.56 consensus estimate by 11.15%, while revenue of $218.06 million topped the $210.24 million consensus by 3.72% and surged 72.4% year over year. The primary engine behind the results was a 210% year-over-year explosion in infrastructure revenue, fueled by accelerating adoption of the company's optical AI data center products, including the Keystone PAM4 DSP platform and the 1.6T-capable Rushmore and Annapurna product families. The company also swung to GAAP profitability, reporting net income of $28.90 million compared to a net loss of $45.48 million a year ago. Analyst price targets on MaxLinear have ranged widely, reflecting mixed sentiment heading into the print. Looking ahead, management guided Q4 2026 revenue of $240 million to $260 million, signaling continued sequential momentum as AI data center demand shows no sign of cooling.
- Infrastructure business up 210% year over year driven by accelerated adoption of optical AI data center products
- Volume ramp of Keystone PAM4 DSP platform
- 72% year-over-year revenue growth and 29% sequential revenue growth
- Non-GAAP operating margin expansion to 29.5% from 12.1% year over year
- Significant reduction in restructuring charges year over year
“Our Q3 results underscore the significant growth inflection underway across MaxLinear's overall business. We delivered 72% year-over-year revenue growth, including 210% growth year over year in AI datacenter-centric infrastructure revenue.”
MaxLinear CEO, on the earnings call
What Is MaxLinear's Outlook?
For Q4 2026, MaxLinear estimates revenue of $240 million to $260 million. GAAP gross margin is expected at 58.0% to 61.0%, with non-GAAP gross margin of 59.0% to 62.0%. GAAP operating expenses are guided at $96 million to $101 million, while non-GAAP operating expenses are expected at $65 million to $70 million. Interest and other expense, net is estimated at $3.5 million to $4.3 million. GAAP income tax benefit is estimated at $(1.5) million, with non-GAAP income tax provision of $1.5 million. Fully diluted share count is estimated at 99.7 million.
MXL YoY Financials
| Metric | Q3 2026 | Q3 2025 | Year over year |
|---|---|---|---|
| Revenue | $218.1M | $126.5M | +72.4% |
| Gross Profit | $128.1M | $71.6M | +79.0% |
| Operating Income | $30.2M | $10.1M | +200.7% |
| Net Income | $28.9M | $11.0M | +163.5% |
Figures from SEC filings and company reports. Not investment advice.