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 (Q1'25) - Revenue was $95.9 million[5, 7, 8], a slight increase compared to $92.2 million in Q4'24 but similar to $95.3 million in Q1'24[7, 8] - GAAP gross margin was 56.1%[5, 7], while non-GAAP gross margin was 59.1%[5, 8] - GAAP operating margin was (48)%[5], and non-GAAP operating margin was (2)%[5] - GAAP diluted loss per share was $(0.58)[5, 7], and non-GAAP diluted loss per share was $(0.05)[5, 8] - Cash used in operations was $11.4 million[5] Balance Sheet (Q1'25) - Cash and cash equivalents and restricted cash totaled $102.8 million[9], a decrease from $119.6 million in Q4'24 and $192.9 million in Q1'24[9] - Total assets were $855.3 million[9], down from $864.6 million in Q4'24 and $1.0306 billion in Q1'24[9] - Total liabilities amounted to $362.1 million[9], compared to $348.4 million in Q4'24 and $392.6 million in Q1'24[9] Q2'25 Guidance - Revenue is expected to be between $95 million and $115 million[10] - GAAP gross margin is projected to be 54.5% to 57.5%[10], while non-GAAP gross margin is expected to be 57.5% to 60.5%[10] - GAAP operating expenses are estimated to be $92 million to $98 million[10], and non-GAAP operating expenses are projected to be $55 million to $61 million[10]