Financial Performance - MaxLinear's Q3 2025 revenue reached $126.5 million, a 16.2% increase from Q2 2025 and a 55.9% increase from Q3 2024 [5] - The company's GAAP gross margin was 56.9%, while the non-GAAP gross margin was 59.1% [5] - GAAP operating margin was (32.7)%, and non-GAAP operating margin was 12.1% [5] - GAAP diluted loss per share was $(0.52), while non-GAAP diluted earnings per share was $0.14 [5] - Cash provided by operations in Q3 2025 was $10.1 million [5] Business Highlights - MaxLinear is on track to deliver $60 million to $70 million in revenue this year from its 5nm Keystone PAM4 product family [6] - The company anticipates additional qualification and rollout for 800G data center applications throughout 2025, with revenue growth expected in 2026 [6] Q4 2025 Guidance - MaxLinear expects revenue between $130 million and $140 million [10] - The company projects a GAAP gross margin between 56.0% and 59.0%, and a non-GAAP gross margin between 58.0% and 61.0% [10] - Operating expenses are expected to be between $92 million and $98 million on a GAAP basis, and between $57 million and $63 million on a non-GAAP basis [10]

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]