Companies /Technology

MaxLinear Inc

NASDAQ: MXL Semiconductors
$61.37
▼ $2.05 (−3.23%) today
Markets open · 12:40pm ET

Q1 2026 Earnings

Reported Apr 23, 2026, 4:07pm ET · SEC source
$0.22
Beat +25.57%
EPS · est. $0.18
$137.2M
Beat +1.94%
Revenue · est. $134.6M
+62.5%
Beating market
MXL vs S&P since report
5 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
0+30%+60%Apr 23Apr 24report 4:07pm ETearnings+0.8%+56.7%
0+30%+60%Apr 23Apr 24earnings+0.8%+56.7%
MXL +56.7%S&P 500 +0.8%
0+30%+60%Apr 23Apr 24report 4:07pm ETearnings+1.7%+56.7%
0+30%+60%Apr 23Apr 24earnings+1.7%+56.7%
MXL +56.7%NASDAQ +1.7%
0+40%+80%Apr 22May 1report 4:07pm ETearnings+1.8%+83.0%
0+40%+80%Apr 22May 1earnings+1.8%+83.0%
MXL +83.0%S&P 500 +1.8%
0+40%+80%Apr 22May 1report 4:07pm ETearnings+3.4%+83.0%
0+40%+80%Apr 22May 1earnings+3.4%+83.0%
MXL +83.0%NASDAQ +3.4%
+76.12%
Day of report
−14.37%
Next session
+27.95%
One week
+67.61%
30 days

S&P 500 over the same 30 days: +5.12%.

Did MXL Beat Earnings? Q1 2026 Results

MaxLinear delivered a strong first quarter for fiscal 2026, posting non-GAAP EPS of $0.22 against a consensus estimate of $0.18, a beat of 25.57%, while revenue of $137.19 million edged ahead of the $134.58 million estimate and surged 43% year over year. The standout driver was a 136% year-over-year explosion in the infrastructure segment, which climbed to become the company's largest end market on the back of production ramps in optical data center products shipping to multiple hyperscale customers across both scale-up and scale-out AI platforms. Non-GAAP gross margin held at 59.5% and non-GAAP operating income reached 16% of revenue, a sharp reversal from a 2% operating loss in the year-ago period. Analysts raised price targets ahead of the print, and the stock jumped roughly 27% in extended trading after results crossed. Looking ahead, MaxLinear guided Q2 revenue to $160 million to $170 million, well above prior Street expectations, as management projected a step-function increase in optical data center revenues and raised its full-year optical revenue outlook to $150 million to $170 million.

Key Takeaways
  • Infrastructure business grew 136% year over year, becoming the largest end market
  • Strong execution and production ramps of optical data center products at multiple hyperscale customers
  • Non-GAAP operating income improved to 16% of revenue from a 2% loss a year ago
  • 43% year-over-year revenue growth

“Q1 marks the start of a multi‑year growth phase for MaxLinear, led by accelerating momentum in optical data center connectivity. Revenue grew 43% year over year, with infrastructure growing more than 130% to become our largest end market. This was driven primarily by strong execution and production ramps of our optical data center products at multiple hyperscale customers across scale-up and scale-out AI platforms.”

MaxLinear CEO, on the earnings call

Forward Guidance & Outlook

MaxLinear guided Q2 2026 revenue to approximately $160 million to $170 million, representing significant sequential growth. The company expects GAAP gross margin of 56.0%-59.0% and non-GAAP gross margin of 58.0%-61.0%. GAAP operating expenses are estimated at $91-$97 million, non-GAAP operating expenses at $61-$66 million. Management expects a step function increase in optical data center revenues in Q2 and positions the company for sustained growth and increasing profitability in 2026 and beyond.

MXL YoY Financials

Q1 2026 vs Q1 2025 · SEC filings Q1 2025 Q1 2026
$0$60.0M$120.0M$95.9M$137.2MRevenue$53.2M$78.9MGross Profit$-11,104,730$-17,209,000Operating Income$-41,334,249$-45,137,000Net Income
$0$60.0M$120.0MRevenueGross ProfitOperating IncomeNet Income

Figures from SEC filings and company reports. Not investment advice.