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MaxLinear Q1 2025 Earnings Report
MaxLinear, Inc. announced its first quarter 2025 financial results, reporting a net revenue of $95.9 million and a GAAP diluted loss per share of $0.58.
Key Takeaways
MaxLinear, Inc. reported a net revenue of $95.9 million for the first quarter of 2025, showing a 4% sequential increase and a 1% year-over-year increase. The company achieved a GAAP gross margin of 56.1% and a non-GAAP gross margin of 59.1%. Despite a net loss of $49.7 million, the company made progress in reducing non-GAAP operating expenses and is working towards profitability and positive cash flow in Q2 2025.
Net revenue for Q1 2025 was $95.9 million, up 4% sequentially and 1% year-over-year.
GAAP gross margin was 56.1%, and non-GAAP gross margin was 59.1%.
GAAP operating expenses were $99.9 million, or 104% of net revenue, while non-GAAP operating expenses were $58.4 million, or 61% of net revenue.
GAAP diluted loss per share was $0.58, and non-GAAP diluted loss per share was $0.05.
Forward Guidance
For the second quarter of 2025, MaxLinear expects net revenue to be approximately $95 million to $115 million.
Positive Outlook
- Expected GAAP gross margin of approximately 54.5% to 57.5%.
- Expected non-GAAP gross margin of approximately 57.5% to 60.5%.
- Expected non-GAAP operating expenses of approximately $55 million to $61 million.
- Expected non-GAAP income tax provision of $0.1 million.
- Expected basic share count of 86.5 million to 87.0 million and diluted share count of approximately 87.0 million to 87.5 million.
Challenges Ahead
- Expected GAAP operating expenses of approximately $92 million to $98 million.
- Expected GAAP and non-GAAP interest and other expense of approximately $2.0 million to $3.0 million each.
- Expected GAAP income tax provision of $2.4 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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