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MXL Q1 2026 Earnings
Reported Apr 23, 2026 at 4:07 PM ET · SEC Source
Q1 26 EPS
$0.22
BEAT +25.57%
Est. $0.18
Q1 26 Revenue
$137.2M
BEAT +1.94%
Est. $134.6M
vs S&P Since Q1 26
+93.7%
BEATING MARKET
MXL +96.4% vs S&P +2.8%
Market Reaction
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 y… Read more 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
MXL 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, source: SEC Filings
“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.”
— Kishore Seendripu, Q1 2026 Earnings Press Release
MXL Earnings Trends
MXL vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
MXL EPS Trend
Earnings per share: estimate vs actual
MXL Revenue Trend
Quarterly revenue: estimate vs actual
MXL Quarterly Results
4 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 BEAT | $0.18 | $0.22 | +25.57% | $137.2M | +1.94% |
| Q4 25 BEAT FY | $0.18 | $0.19 | +6.26% | $136.4M | +1.21% |
| FY Full Year | $0.29 | $0.31 | +7.49% | $467.6M | +0.36% |
| Q3 25 BEAT | $0.12 | $0.14 | +17.55% | $126.5M | +1.44% |
| Q2 25 BEAT | $0.02 | $0.02 | +8.70% | $108.8M | +3.70% |