CARLSBAD, Calif.--(BUSINESS WIRE)-- #5G--Pegatron 5G has selected MaxLinear's Sierra single-chip Radio SoC for their next generation PR2850 5G Macro Open RAN Radio Unit (O-RU). ...

Oct 1, 2025 4:35 PM Eastern Daylight Time MaxLinear, Inc. Announces Conference Call to Review Third Quarter 2025 Financial Results Share Thursday, Oct. 23, 2025 at 1:30 p.m. Pacific Time; 4:30 p.m. Eastern Time CARLSBAD, Calif.--(BUSINESS WIRE)--MaxLinear, Inc. (NASDAQ: MXL), a leading provider of radio frequency (RF), analog, digital and mixed-signal integrated circuits, announced today that it will release its financial results for the third quarter 2025 after the close of market on Thursday, Oct. 23, 202 ...

MaxLinear, Inc. (NASDAQ:MXL) is one of the 14 Small Publicly Traded Semiconductor Companies to Invest in Now. On August 26, Stifel reaffirmed its Buy rating on MaxLinear, Inc. (NASDAQ:MXL) with a $21 price target. The company reported strong results for the second quarter of 2025. MaxLinear, Inc. (NASDAQ:MXL) reported that net revenue for Q2 reached $108.8 million, up 13% quarter-over-quarter and 18% year-over-year. Analysts Maintain Buy Ratings on MaxLinear (MXL) MaxLinear, Inc. (NASDAQ:MXL) performed ...

Investment Rating - The report maintains an "Overweight" rating for the communication industry [5]. Core Insights - The communication industry experienced steady revenue growth and accelerated profitability in H1 2025, with total revenue reaching 1,785 billion yuan, a year-on-year increase of 10.07%, and net profit attributable to shareholders at 160.43 billion yuan, up 11.26% year-on-year [2][8]. - In Q2 2025, the industry continued to show robust growth, with revenue of 942.48 billion yuan, reflecting a year-on-year increase of 10.91%, and net profit attributable to shareholders of 98.68 billion yuan, up 12.33% year-on-year [11]. - Key sectors such as optical modules, communication PCBs, network equipment manufacturers, and IoT modules demonstrated strong performance, ranking among the top five in revenue and net profit growth rates [14][16]. Summary by Sections 1. H1 2025 Performance Overview - The communication industry achieved total revenue of 1,785 billion yuan in H1 2025, with a year-on-year growth of 10.07%, and net profit attributable to shareholders of 160.43 billion yuan, up 11.26% year-on-year [2][8]. 2. AI Industry Chain Investment - Overseas cloud vendors are expected to maintain optimistic growth in capital expenditures, with a total of 95 billion USD in Q2 2025, marking an increase of 82.96% year-on-year [22]. - Major companies like Apple and Meta are significantly increasing their investments in AI infrastructure, indicating a robust outlook for the AI industry chain [22][24]. 3. Sector Performance Changes - The optical module and device sector reported revenue of 479.88 billion yuan in H1 2025, with a year-on-year increase of 64.88%, and net profit of 108.76 billion yuan, up 111.99% year-on-year [31]. - The communication PCB sector achieved revenue of 572.49 billion yuan in H1 2025, reflecting a year-on-year growth of 37.66%, and net profit of 80.58 billion yuan, up 80.79% year-on-year [36]. - The network equipment sector generated revenue of 5,071.11 billion yuan in H1 2025, with a year-on-year increase of 28.86%, and net profit of 191.84 billion yuan, up 19.57% year-on-year [40]. 4. Telecom Operators' Performance - The basic telecom operators' sector reported revenue of 10,133.93 billion yuan in H1 2025, a slight increase of 0.33% year-on-year, with net profit of 1,136.01 billion yuan, up 5.14% year-on-year [54]. - China Mobile's total connections reached 3.815 billion, with a net increase of 145 million, and its digital transformation revenue grew by 6.6% year-on-year [55].

MaxLinear (MXL) FY Conference Summary Company Overview - **Company**: MaxLinear (MXL) - **Date of Conference**: August 12, 2025 - **Key Speakers**: Steve Litchfield (CEO/CFO), Rick Schafer (Oppenheimer Semiconductor Analyst) Key Industry Insights - **Semiconductor Industry Recovery**: The company indicates a recovery in the semiconductor industry, with improved visibility and bookings over the last two to three quarters [6][7][9] - **CapEx Trends**: While there is some recovery, capital expenditures (CapEx) have not significantly increased across broad-based semiconductors, although specific areas like AI and data centers are seeing growth [8][9] - **Wireless Infrastructure**: The wireless infrastructure market is experiencing a transition year, with improvements expected in CapEx spending, particularly in backhaul and access segments [18][56] Financial Performance - **Revenue Growth**: The company reported a year-over-year revenue growth of over 30% in infrastructure, with specific products like PAM4 DSP expected to generate $60 to $70 million in revenue, doubling last year's figures [12][13][23] - **Product Contributions**: The Panther storage accelerator is projected to grow from $1 million this year to potentially over $40 million next year, indicating strong future demand [16] Product Development and Market Position - **New Product Innovations**: MaxLinear is focusing on new product developments that enhance existing applications and enter new markets, particularly in data centers and wireless infrastructure [7][14][19] - **Competitive Landscape**: The company is competing against major players like Intel and AMD, emphasizing its lower power solutions and technical differentiation as key competitive advantages [17][25][27] - **Optical and Electrical Solutions**: MaxLinear is leveraging its IP blocks to diversify into optical and electrical markets, with a focus on optical transceivers, which represent 80% of the digital signal processing (DSP) market [41][43] Market Opportunities - **Broadband Market**: The broadband segment, particularly PON (Passive Optical Network), is expected to generate $50 to $70 million this year, with significant growth potential as the company has secured wins with major service providers [71][72] - **Wi-Fi and Ethernet Products**: The company is also expanding its offerings in Wi-Fi and Ethernet, capitalizing on the upgrade cycle to Wi-Fi 7, which is expected to increase content per unit [75] Strategic Focus - **Customer Engagement**: MaxLinear is enhancing its relationships with module providers and hyperscalers to optimize product offerings and drive demand [38] - **Future Outlook**: The company anticipates continued growth in 2026 and beyond, driven by new product ramps and market share gains [9][20] Legal and Financial Position - **Arbitration Update**: The company is involved in arbitration regarding its terminated deal with Silicon Motion, with a resolution expected in Q1 of the following year [78][80] - **Cash Flow Improvement**: MaxLinear is ahead of plan in returning to positive operating cash flows, with efforts to cut operating expenses and improve cash generation [81][82] Conclusion MaxLinear is positioned for growth in the semiconductor industry, with a focus on innovative product development, strategic market engagement, and a strong recovery trajectory in key segments. The company is navigating challenges while capitalizing on emerging opportunities in broadband and data center markets.

Core Viewpoint - MaxLinear (NASDAQ: MXL) has experienced significant challenges in key performance areas over the past several years, with the stock reaching a multi-year low as recently as April [1] Group 1: Company Performance - The stock of MaxLinear hit a new multi-year low in April, marking a continuation of a trend of lower lows [1]

Company Overview - MaxLinear held its Q2 2025 Earnings Conference Call, featuring key executives including CEO Dr. Kishore Seendripu and CFO Steven Litchfield [2][3]. Financial Results - The conference call was organized to discuss MaxLinear's financial results for the second quarter of 2025, with a focus on various financial metrics [3]. Forward-Looking Statements - The company provided forward-looking statements regarding guidance for Q3 2025, including revenue, gross margin, operating expenses, interest and other expenses, income taxes, and diluted share count [4]. - Additionally, the company discussed trends, opportunities, and uncertainties in product and geographic markets, emphasizing potential growth and execution of its business plan [5].

Group 1 - MaxLinear reported quarterly earnings of $0.02 per share, which is an improvement from a loss of $0.25 per share a year ago, and is in line with the Zacks Consensus Estimate [1] - The company posted revenues of $108.81 million for the quarter ended June 2025, exceeding the Zacks Consensus Estimate by 3.60%, and up from $91.99 million year-over-year [2] - MaxLinear has surpassed consensus revenue estimates four times over the last four quarters [2] Group 2 - The stock has underperformed, losing about 21.9% since the beginning of the year, while the S&P 500 has gained 7.3% [3] - The company's earnings outlook is crucial for understanding future stock performance, with current consensus EPS estimates at $0.10 for the coming quarter and $0.25 for the current fiscal year [4][7] - The Zacks Industry Rank for Semiconductor - Analog and Mixed is in the top 31% of over 250 Zacks industries, indicating a favorable industry outlook [8]

Financial Data and Key Metrics Changes - Revenue for Q2 2025 was approximately $109 million, reflecting a 13% sequential increase and an 18% year-over-year growth from $92 million in Q2 2024 [5][15] - Non-GAAP gross margin was reported at 59.1%, while GAAP gross margin was approximately 56% [15] - Operating expenses were reduced significantly, with GAAP operating expenses at $86.1 million and non-GAAP operating expenses at $56.6 million [15][16] - The company returned to profitability on a non-GAAP basis and generated positive free cash flow [6][12] Business Line Data and Key Metrics Changes - Infrastructure revenue for Q2 was approximately $35 million, broadband revenue was about $48 million, connectivity revenue was around $21 million, and industrial multimarket revenue was approximately $6 million [15] - The company anticipates revenue from high-speed data center optical interconnects to be between $60 million and $70 million for the year, primarily driven by the 800 gigabit PAM4 DSP product family [6][7] Market Data and Key Metrics Changes - The company noted strong customer traction in high-speed data center optical interconnects, PON broadband access, Wi-Fi, and Ethernet markets [6][10] - Increased carrier CapEx spending is expected to drive demand in wireless infrastructure for 2025 and 2026 [8][9] - Major North American carriers are ramping up their FiberPON access build-outs, leading to increased demand for fiber PON, cable DOCSIS, and Wi-Fi solutions [10][11] Company Strategy and Development Direction - The company is focused on high-value categories such as high-speed interconnects, multi-gigabit PON access, Wi-Fi connectivity, Ethernet storage accelerators, and wireless infrastructure [12][13] - Investments in strategic high-growth areas are expected to generate exciting business opportunities and accelerate revenues in 2026 [18] - The company aims to establish itself as a strategic partner for hyperscale data centers beyond just interconnect solutions [95] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth trajectory for 2025 and 2026, citing robust customer order rates and backlog [6][12] - The company is optimistic about the recovery in core markets and anticipates sustained growth in various segments [18] - Management highlighted the importance of cost reduction investments to maintain and improve gross margins moving forward [40] Other Important Information - The company expects Q3 2025 revenue to be between $115 million and $135 million, with all end markets projected to grow sequentially [17] - GAAP operating expenses for Q3 are expected to be in the range of $84 million to $90 million, while non-GAAP operating expenses are projected to be between $55 million and $61 million [17] Q&A Session Summary Question: Q3 outlook and segment performance - Management indicated that infrastructure is expected to perform well, with broadband and connectivity also showing recovery [20][21] Question: Broadband growth drivers - Management noted that the growth in broadband is driven by CapEx deployment and market share gains, rather than just inventory replenishment [22][23] Question: Design wins for Rushmore and Keystone - Management confirmed strong design wins with major module makers and emphasized the importance of Keystone in driving revenue growth [28][29] Question: Operating expenses and investments - Management clarified that operating expenses were below guidance midpoint and highlighted ongoing investments in new products [36][39] Question: Dynamics in China - Management discussed mixed market dynamics in China, with strong demand in data centers but challenges in the industrial multimarket segment [65][68] Question: Technology roadmap for silicon photonics - Management confirmed engagement with optics companies to develop CPO solutions, emphasizing the importance of low power and high-speed offerings [72][74]

Financial Performance - Q2'25 revenue reached $1088 million, a 134% increase from Q1'25 and an 183% increase from Q2'24 [5] - GAAP gross margin was 565% and non-GAAP gross margin was 591% in Q2'25 [5] - GAAP operating margin was (226)% and non-GAAP operating margin was 72% in Q2'25 [5] - GAAP diluted loss per share was $(031) and non-GAAP diluted earnings per share was $002 in Q2'25 [5] - Cash provided by operations was $105 million in Q2'25 [5] Business Highlights & Future Outlook - The company is on track to deliver $60 million to $70 million in revenue this year for the 5nm Keystone PAM4 product family [6] - Expects to begin ramp in early 2026 of its single-chip integrated fiber PON and 10-gigabit processor gateway SoC plus triband WiFi-7 single-chip platform solution with a second major Tier-1 North American carrier [6] - Q3'25 revenue guidance is between $115 million and $135 million [10] - Q3'25 gross margin is expected to be between 550% and 580% on a GAAP basis, and between 575% and 605% on a non-GAAP basis [10] - Q3'25 operating expenses are projected to be between $84 million and $90 million on a GAAP basis, and between $55 million and $61 million on a non-GAAP basis [10]