MaxLinear, Inc. (MXL) Earnings
MaxLinear, Inc. is expected to report next earnings on July 22, 2026 (in NaN days), with a consensus EPS estimate of $0.33. MXL has beaten EPS estimates in 6 of its last 12 reported quarters (average surprise +11.1% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 23, 2026 | $0.18 | $0.22 | +22.2% | $137M | +2.0% |
| Jan 29, 2026 | $0.18 | $0.19 | +5.6% | $136M | +5.5% |
| Oct 23, 2025 | $0.12 | $0.14 | +16.7% | $126M | -6.0% |
| Jul 23, 2025 | $0.02 | $0.02 | +0.0% | $109M | -7.1% |
| Apr 23, 2025 | $-0.05 | $-0.05 | +0.0% | $96M | -7.7% |
| Jan 29, 2025 | $-0.13 | $-0.09 | +30.8% | $92M | +2.4% |
| Oct 23, 2024 | $-0.32 | $-0.36 | -12.5% | $81M | -9.7% |
| Jul 24, 2024 | $-0.20 | $-0.25 | -25.0% | $92M | -8.0% |
| Jan 31, 2024 | $0.01 | $0.01 | +28.5% | $125M | +0.2% |
| Oct 25, 2023 | $0.04 | $0.02 | -45.9% | $136M | -2.7% |
| Jul 26, 2023 | $0.33 | $0.34 | +3.0% | $184M | -3.3% |
| Feb 1, 2023 | $1.06 | $1.07 | +0.9% | $291M | +0.2% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · April 23, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
Q1 was a strong start to the year with revenue growing 43% year-over-year. Infrastructure is the largest revenue category, growing 136% year-over-year in Q1 driven by optical data center-oriented platforms. Optical data center revenue is expected to be in the $150 million to $170 million range for 2026. Keystone PAMFORD DSP optical transceiver platform is ramping at major customers. Rushmore and Annapurna are foundational to next wave of data center optical architectures. Wireless infrastructure momentum is improving and broadband/connectivity has large-scale deployments. Panther Hardware Storage Accelerator SoC family has growing design-win activity.
Guidance
Expect revenue in Q2 2026 to be between $160 million and $170 million. Q2 GAAP gross margin expected to be approximately 56% to 59%, non-GAAP gross margin in range of 58-61% of revenue. Q2 GAAP operating expenses in range of 91-97 million, non-GAAP operating expenses 61-66 million. Interest and other expense expected in range of $1.8 million to $2.2 million. Tax benefit of $2 million on GAAP basis and non-GAAP tax provision of approx $1 million. GAAP and non-GAAP dilutive share count in Q2 expected to be approximately 95 million each.
Segment performance
Total revenue for the first quarter was $137.2 million. Infrastructure revenue for the first quarter of 2026 was approximately $63 million, broadband was approximately $44 million, connectivity was approximately $19 million, and industrial multi-market was approximately $12 million. GAAP and non-GAAP gross margins for the first quarter was 57.5% and 59.5% of revenue.
Analyst Q&A
Q: Tori Sandberg with Stiefel asked about the steep increase in optical DSP revenue.
A: Kishore said at the time of setting guidance was conservative, now visibility and ramp success led to higher expectations.
Q: Tori followed up on prepayment for wafer capacity and revolver.
A: Steve said some working capital needs in Q4 and Q1, prepayments may continue with demand, revolver was renewed.
Q: Joe Quattrari with Wells Fargo asked about supply chain and gross margin guidance.
A: Kishore said planned well with partners, gross margin influenced by input costs but expected to improve.
Q: Tim Savage with Northland Capital Markets asked about infrastructure sequential growth and 2026 revenue expectations.
A: Kishore said infrastructure is bigger growth driver, excited about growth potential.
Q: Loop Capital Markets asked about DSP market ramp and Panther.
A: Kishore said TAM expansion is real, Panther benefits from low latency and high bandwidth access, expects revenue to double in 2026.
Q: Christopher Rowland with Susquehanna International Group asked about optical design wins and scale up.
A: Kishore said design wins are broad-based, scale up has opportunities in optical transceivers and electrical retimers.
Q: Richard Shannon with Craig Hallam Capital Markets asked about DSP success conveying to Rushmore and broadband trajectory.
A: Kishore said Keystone success helps in Rushmore, broadband expected to grow from Q2.
Q: Carl Ackerman with BNP Paribas Asset Management asked about Q2 growth by segment and optical DSP growth source.
A: Steve said all four segments will grow, optical DSP growth is from both hyperscaler-owned designs and module vendors.
Q: Quinn Bolton with Needham & Co. asked about infrastructure growth contributors.
A: Steve said growth from all products in infrastructure, data center breaking out.
Q: Suji De Silva with Roth Capital Partners asked about program ramps and wireless infrastructure opportunity.
A: Kishore said programs have different ramps, wireless infrastructure has growth from 5G and AI deployment.
Q: Tori Sandberg with Steeple asked about Annapurna and Washington.
A: Kishore said Annapurna is for electrical retimer market, Washington is part of fundamental platform.
Q: Tim Savage with Northland Capital Markets asked about PON design win timing.
A: Kishore said win is secured, expected to ramp in 2027 and be a needle mover.
Q: Richard Shannon with Craig Hallam Capital Markets asked about TSP other applications size.
A: Kishore said optical transceiver DSPs are the largest TAM, others like electrical retimers and AECs are smaller in current revenue