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Dec 31, 2025
MaxLinear Q4 2025 Earnings Report
MaxLinear reported its financial results for the fourth quarter and fiscal year ended December 31, 2025, showing strong sequential and year-over-year growth in revenue and improved profitability.
Key Takeaways
MaxLinear, Inc. announced a strong fourth quarter for 2025, with net revenue reaching $136.4 million, an 8% sequential increase and a 48% year-over-year jump. The company also reported a GAAP diluted loss per share of $0.17, a significant improvement from $0.52 in the prior quarter and $0.68 in the year-ago quarter. Non-GAAP diluted earnings per share stood at $0.19, up from $0.14 in the prior quarter.
Q4 2025 net revenue was $136.4 million, marking an 8% sequential increase and a 48% year-over-year growth.
Fiscal year 2025 net revenue reached $467.6 million, a 30% increase over fiscal year 2024.
GAAP diluted loss per share improved to $0.17 in Q4 2025, compared to $0.52 in the prior quarter and $0.68 in the year-ago quarter.
Non-GAAP diluted earnings per share for Q4 2025 was $0.19, up from $0.14 in the prior quarter and a loss of $0.09 in the year-ago quarter.
Forward Guidance
MaxLinear expects net revenue for the first quarter of 2026 to be between $130 million and $140 million, with GAAP gross margin between 56.0% and 59.0%, and non-GAAP gross margin between 58.0% and 61.0%.
Positive Outlook
- Expected net revenue for Q1 2026 is approximately $130 million to $140 million.
- Non-GAAP gross margin is projected to be between 58.0% and 61.0%.
- Non-GAAP operating expenses are estimated to be between $58 million and $64 million.
- Non-GAAP income tax provision is expected to be $0.8 million.
- Diluted share count is projected to be approximately 91.0 million.
Challenges Ahead
- GAAP gross margin is projected to be slightly lower than Q4 2025, between 56.0% and 59.0%.
- GAAP operating expenses are estimated to be between $85 million and $90 million.
- GAAP interest and other expense is projected to be between $2.1 million and $2.7 million.
Historical Earnings Impact
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