On February 2, 2026, AIGH Capital Management LLC fully exited its stake in MaxLinear (NASDAQ:MXL), selling 1,107,504 shares in a transaction estimated at $17.81 million based on quarterly average pricing. What happened According to a Securities and Exchange Commission (SEC) filing dated February 2, 2026, AIGH Capital Management LLC reported selling all 1,107,504 shares of MaxLinear during the fourth quarter. The estimated transaction value was $17.81 million, based on the average closing price for the pe ...

Core Insights - MaxLinear Inc. (NASDAQ:MXL) is highlighted as a promising small-cap tech stock, reporting a strong Q4 2025 with revenue of $136.4 million, reflecting an 8% sequential increase and a 48% year-over-year rise, primarily driven by the infrastructure segment [1][4] Financial Performance - Q4 2025 revenue reached $136.4 million, marking an 8% increase from the previous quarter and a 48% increase year-over-year [1] - The infrastructure segment experienced a significant annual growth of 76%, attributed to high demand for optical interconnects and wireless infrastructure in data centers [1] Future Outlook - For 2026, MaxLinear anticipates revenue from its Keystone PAM4 DSP family to be between $100 million and $130 million, driven by major hyperscale data centers [2] - The company expects a softer first half for its broadband business due to industry transitions to DOCSIS 4.0, which may result in an overall annual decline in that segment [2] - Despite challenges such as supply chain tightness and competitive pressures, the company is optimistic about improving its infrastructure product mix, aiming for gross margins to approach 60% by year-end [2] Analyst Ratings - Following the earnings report, analyst Richard Shannon from Craig-Hallum reiterated a Buy rating on MaxLinear with a price target of $27 [3]

MaxLinear, Inc. ( MXL ) just reported its Q4 and full-year results, which, I thought, were rather decent, with fantastic growth and profitability improvements, but the investing community decided to take some profits as its shares are down overMSc in Finance. Long-term horizon investor mostly with 5-10 year horizon. I like to keep investing simple. I believe a portfolio should consist of a mix of growth, value, and dividend-paying stocks but usually end up looking for value more than anything. I also sell o ...

分组1 - MaxLinear reported quarterly earnings of $0.19 per share, exceeding the Zacks Consensus Estimate of $0.18 per share, compared to a loss of $0.09 per share a year ago, representing an earnings surprise of +5.56% [1] - The company posted revenues of $136.44 million for the quarter ended December 2025, surpassing the Zacks Consensus Estimate by 1.08%, and this is an increase from year-ago revenues of $92.17 million [2] - MaxLinear shares have increased approximately 9.8% since the beginning of the year, outperforming the S&P 500's gain of 1.9% [3] 分组2 - The current consensus EPS estimate for the coming quarter is $0.14 on revenues of $130.25 million, and for the current fiscal year, it is $0.74 on revenues of $553.92 million [7] - The Semiconductor - Analog and Mixed industry, to which MaxLinear belongs, is currently ranked in the top 10% of over 250 Zacks industries, indicating strong performance potential [8] - Another company in the same industry, ON Semiconductor Corp., is expected to report quarterly earnings of $0.62 per share, reflecting a year-over-year change of -34.7%, with revenues expected to be $1.53 billion, down 11% from the previous year [9][10]

MaxLinear (NasdaqGS:MXL) Q4 2025 Earnings call January 29, 2026 04:30 PM ET Company ParticipantsAlek Valero - Equity Research AssociateKishore Seendripu - CEO, President and ChairmanLeslie Green - IRQuinn Bolton - MD, Director and Equity ResearchRoss Seymore - MDSamuel Feldman - Equity Research AssociateSteve Litchfield - CFO and CCSOTore Svanberg - MDConference Call ParticipantsChristopher Rolland - Semiconductor AnalystDavid Williams - Senior Equity Research AnalystTim Savageaux - Senior Research AnalystO ...

MaxLinear (NasdaqGS:MXL) Q4 2025 Earnings call January 29, 2026 04:30 PM ET Company ParticipantsKishore Seendripu - CEO, President and ChairmanLeslie Green - IRRoss Seymore - MDSamuel Feldman - Equity Research AssociateSteven Litchfield - CFO and CCSOTore Svanberg - MDConference Call ParticipantsDavid Williams - Senior Equity Research AnalystTim Savageaux - Senior Research AnalystOperatorGreetings and welcome to the MaxLinear fourth quarter 2025 earnings call. At this time, all participants are in a listen- ...

Financial Data and Key Metrics Changes - Total revenue for Q4 2025 was $136.4 million, up 8% from $126.5 million in the previous quarter and up 48% from $92.2 million in Q4 2024 [14] - GAAP gross margin for Q4 increased to approximately 57.6%, while non-GAAP gross margin was approximately 59.6% [14] - GAAP loss from operations for Q4 was 11%, and non-GAAP income from operations was 16% of net revenue [16] - Net cash flow from operating activities was approximately $10.4 million, with cash and cash equivalents totaling approximately $101.4 million at the end of Q4 [16] Business Line Data and Key Metrics Changes - Infrastructure revenue for Q4 was approximately $47 million, broadband revenue was approximately $58 million, connectivity revenue was approximately $18 million, and industrial multi-market revenue was approximately $14 million [14] - Infrastructure revenue grew 30% for the full year and 76% in Q4 year-over-year, driven by strong growth in data center optical interconnects and wireless infrastructure [8][12] - The broadband business is expected to decline year-over-year due to the transition to DOCSIS 4.0, with a seasonal decline expected in Q1 [27][28] Market Data and Key Metrics Changes - The company expects to achieve significant revenue from the Keystone PAM4 DSP family, projecting $100-$130 million in revenue for 2026 [9] - The cloud data centers are deploying 10-gigabit XGS-PON, with the company securing its first PON data center design win [10] - The company anticipates strong growth in the Ethernet market as its 2.5 gigabit Ethernet switch and PHY portfolio expands into commercial, enterprise, and industrial applications [13] Company Strategy and Development Direction - The company is focused on high-value multi-year growth markets, including data center connectivity, wireless infrastructure, and broadband access [6][8] - Investments are being made in areas of strategic importance to build a solid foundation for sustainable growth and profitability in 2026 and beyond [19] - The company aims to strengthen its position in the optical DSP market and expand its offerings in response to evolving market demands [44][45] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in sustained growth expectations and market momentum, entering 2026 with strong momentum across its portfolio [6] - The company expects solid growth in 2026 driven by new design wins and expanding content opportunities across its product portfolio [18] - Management highlighted the competitive advantage of power efficiency and the importance of performance over pricing in the optical market [73] Other Important Information - The company repurchased $20 million of its common stock in Q4, reflecting confidence in its growth trajectory [6][16] - The company is experiencing improved visibility and robust bookings, which are expected to drive growth in 2026 [18] Q&A Session Summary Question: Can you talk about the PAM4 DSP business and its growth? - Management indicated strong traction and design wins in the PAM4 DSP market, with expectations for continued growth in 2026 and 2027 [21][22] Question: What is the trajectory for the broadband business? - Management expects a decline in the broadband business in the first half of the year due to the transition to DOCSIS 4.0, with potential recovery in the second half [27][28] Question: What is the magnitude of opportunity within the data center segment? - Management highlighted the significant potential in the data center market, particularly with PON as a control plane layer and the increasing sophistication of compute racks [33][34] Question: Can you discuss the share repurchase authorization? - Management conveyed that the share repurchase signals confidence in the balance sheet and cash flow improvement, with revenue stability and an improving outlook [37][38] Question: How is the competitive landscape evolving for optical products? - Management expressed confidence in strengthening their position in the optical market with the rollout of new products, including the 1.6 terabit solutions [44][45] Question: What are the biggest opportunities for market share gain in 2026? - Management identified optical transceivers, storage accelerators, PON market revenues, and wireless infrastructure growth as key areas for market share gain [76]

MaxLinear Q4'25 Earnings January 29, 2026 Cautionary Note Concerning Forward-Looking Statements This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Unless otherwise indicated, all forward looking statements are based on estimates, projections, and assumptions of MaxLinear as of the date of this presentation. These forward-looking statements include, among others, ...

Revenue and Sales Performance - Net revenue for the year ended December 31, 2025, was $467.6 million, driven by sales of RF receivers, connectivity solutions, and optical interconnect solutions [335]. - Products shipped to Asia accounted for 82% of net revenue in 2025, with significant contributions from Hong Kong (49%) and Vietnam (12%) [336]. - Two customers accounted for 28% of net revenue in 2025, while the top ten customers collectively represented 65% of total revenue [337]. - Net revenue increased by $107.1 million to $467.6 million for the year ended December 31, 2025, compared to $360.5 million for 2024, driven by demand in broadband, connectivity, and infrastructure markets [364]. - Industrial and multi-market revenue decreased by $37.0 million, driven by a reduced volume of shipments, while broadband revenue increased by $87.6 million [364]. Costs and Expenses - The company incurred $24.5 million in restructuring costs during 2025, including $17.1 million related to CAD software licenses and $6.9 million in severance costs [343]. - Gross profit improved to 57% of net revenue in 2025, up from 54% in 2024, with gross profit amounting to $265.8 million, an increase of $71.0 million [366]. - Research and development expenses decreased by $16.6 million to $208.6 million in 2025, representing 45% of net revenue, down from 62% in 2024 [367]. - Selling, general and administrative expenses rose by $21.3 million to $159.6 million in 2025, accounting for 34% of net revenue, compared to 38% in 2024 [369]. - Restructuring charges decreased by $28.9 million to $24.5 million in 2025, representing 5% of net revenue, down from 15% in 2024 [371]. - Cost of net revenue increased by $36.1 million to $201.8 million in 2025, representing 43% of net revenue, down from 46% in 2024 [366]. Cash Flow and Financial Position - As of December 31, 2025, the company had cash and cash equivalents of $72.8 million, restricted cash of $28.6 million, and net accounts receivable of $46.1 million [380]. - The company's working capital as of December 31, 2025, was $62.8 million, a decrease from $141.2 million in 2024 [390]. - Net cash provided by operating activities for the year ended December 31, 2025, was $19.6 million, compared to a net cash used of $45.3 million in 2024 [392]. - The company recorded net cash used in investing activities of $19.8 million for the year ended December 31, 2025, down from $23.4 million in 2024 [393]. - Net cash used in financing activities was $18.7 million for the year ended December 31, 2025, primarily due to common stock repurchases of $20.0 million [394]. - As of December 31, 2025, the company's total indebtedness was $125.0 million under a senior secured term B loan facility [390]. - The company has a senior secured revolving credit facility of up to $100.0 million, which remained undrawn as of December 31, 2025 [382]. - The company anticipates that its cash, cash equivalents, and restricted cash of $101.4 million will be sufficient to fund projected operating requirements for at least the next twelve months [390]. Tax and Valuation - The income tax benefit for 2025 was $4.2 million, compared to a provision of $6.5 million in 2024, reflecting a change of $10.7 million [375]. - The company recorded a full valuation allowance against its Singapore deferred tax assets, resulting in no income tax provision recorded in Singapore for the year ended December 31, 2024 [379]. Market and Operational Insights - The company is experiencing growth in sales demand across broadband and connectivity markets, driven by new product wins and recovery from excess inventory [335]. - The company continues to innovate with new products in advanced semiconductor process nodes such as 16nm and 5nm [335]. - The sales cycle for the company's products is lengthy, with product life cycles varying from 24 to 84 months depending on the market [338]. - Revenue recognition estimates involve significant uncertainty, particularly regarding price adjustments and returns based on historical data [349]. - The company expects revenue to fluctuate in the future, consistent with the cyclical nature of the industry [365]. Interest Rate and Currency Risks - The company may face substantial variable interest rate risk due to its term loans, which could adversely affect its operating results if interest rates increase significantly [383]. - The company is subject to variable interest rates on credit agreements and could be adversely impacted by high interest rates in the future [399]. - A 10% increase in SOFR interest rates would result in an immaterial increase in interest expense [399]. - The company believes its operating cash is sufficient to cover interest obligations but is monitoring the impact of high interest rates on financing and business operations [399]. - The company has limited exposure to foreign currency exchange rates as most international agreements are denominated in United States dollars [398]. - A hypothetical change of 100 basis points in foreign currency exchange rates would result in a translation gain change of approximately $0.9 million [398].

Revenue Performance - Q4 net revenue was $136.4 million, up 8% sequentially and up 48% year over year[3]. - Fiscal year 2025 net revenue reached $467.6 million, an increase of 30% over fiscal year 2024[7]. - The company expects Q1 2026 net revenue to be approximately $130 million to $140 million[6]. - Net revenue for Q4 2025 reached $136,436,000, a 7.5% increase from $126,459,000 in Q3 2025 and a 48% increase from $92,167,000 in Q4 2024[25]. - For the full year 2025, net revenue increased to $467,641,000, up 29.7% from $360,528,000 in 2024[27]. Profitability Metrics - GAAP gross margin for Q4 was 57.6%, compared to 55.6% in the year-ago quarter[3]. - Non-GAAP gross margin for Q4 was 59.6%, up from 59.1% in the prior quarter[3]. - Non-GAAP diluted earnings per share for Q4 was $0.19, compared to a loss per share of $0.09 in the year-ago quarter[3]. - GAAP gross profit for Q4 2025 was $78,557 thousand, an increase of 53.3% compared to $51,248 thousand in Q4 2024[36]. - Non-GAAP gross profit for Q4 2025 reached $81,345 thousand, up from $54,432 thousand in Q4 2024, reflecting a growth of 49.4%[36]. - Non-GAAP income from operations for Q4 2025 was 16.2%, compared to a loss of 7.5% in Q4 2024[40]. - Non-GAAP net income for Q4 2025 was 12.7%, compared to a loss of 7.8% in Q4 2024[40]. Operating Expenses - GAAP operating expenses for fiscal year 2025 were $392.7 million, down from $418.1 million in fiscal 2024[7]. - Total operating expenses for Q4 2025 were $93,449,000, down from $113,190,000 in Q3 2025, primarily due to a reduction in restructuring charges[25]. - Research and development expenses for the full year 2025 were $208,599,000, a decrease from $225,189,000 in 2024, reflecting a strategic focus on cost management[27]. - Research and development (R&D) expenses for Q4 2025 were $51,691 thousand, slightly lower than $51,278 thousand in Q4 2024[36]. - GAAP SG&A expenses for Q4 2025 were 30.8%, a decrease from 41.3% in Q4 2024[40]. - Non-GAAP SG&A expenses for Q4 2025 were 16.2%, down from 23.5% in Q4 2024[40]. Cash Flow and Financial Position - Cash provided by operating activities for Q4 2025 was $10,406,000, compared to $10,124,000 in Q3 2025, indicating improved cash flow management[30]. - Cash, cash equivalents, and restricted cash at the end of Q4 2025 totaled $101,412,000, down from $113,263,000 at the end of Q3 2025[30]. - Total assets decreased to $796,396 thousand as of December 31, 2025, down from $864,639 thousand a year earlier, representing a decline of approximately 7.9%[34]. - Total liabilities increased slightly to $344,501 thousand as of December 31, 2025, compared to $329,321 thousand a year earlier[34]. - Stockholders' equity decreased to $451,895 thousand as of December 31, 2025, down from $516,283 thousand a year earlier, reflecting a decline of approximately 12.5%[34]. Loss and Recovery - GAAP loss from operations was 11% of net revenue in Q4, significantly improved from 45% in the year-ago quarter[3]. - Non-GAAP income from operations was 16% of net revenue in Q4, compared to a loss of 7% in the year-ago quarter[3]. - The net loss for Q4 2025 was $14,897,000, an improvement from a net loss of $45,485,000 in Q3 2025 and $57,838,000 in Q4 2024[25]. - The net loss for the full year 2025 was $136,681,000, a significant reduction from $245,198,000 in 2024[27]. - Non-GAAP income (loss) from operations for the twelve months ended December 31, 2025, was $43,495 thousand, a recovery from a loss of $68,459 thousand in the previous year[38]. - Non-GAAP basic net income per share for the twelve months ended December 31, 2025, was $0.31, compared to a loss of $0.90 per share in 2024[38].