Q2 2026 Maxlinear Inc Earnings Call Transcript
Key Points
- MaxLinear Inc (MXL) reported a 55% year-on-year revenue growth, highlighting strong execution and adoption of new data center products.
- The company returned to positive GAAP EPS of $0.02, indicating improved profitability.
- Infrastructure revenue grew 145% year-on-year, driven by robust production ramps and optical data center platforms.
- MaxLinear Inc (MXL) raised its expectations for 2026 optical data center revenue to be between $210 million to $230 million.
- The company is forecasting a Q3 2026 non-GAAP gross margin of 60% at the midpoint of its guidance range, reflecting a favorable product mix shift.
- The company faces risks and uncertainties, including those outlined in its recent SEC filings.
- GAAP operating expenses for Q2 were high at $101.8 million, compared to non-GAAP operating expenses of $62.8 million.
- The delta between GAAP and non-GAAP gross margin was primarily driven by $2.5 million of acquisition-related intangible asset amortization.
- MaxLinear Inc (MXL) has substantial prepayments for wafers, indicating potential supply chain constraints.
- The company is cautious about input cost increases, including wafer and packaging test costs, which could impact margins.
Greetings, and welcome to the MaxLinear second quarter 2026 earnings conference call. (Operator Instructions)
As a reminder, this conference is being recorded. It is now my pleasure to introduce Leslie Green, Investor Relations. Please go ahead.
Thank you, Paul. Good afternoon, everyone, and thank you for joining us on today's conference call to discuss MaxLinear's second quarter 2026 financial results. Today's call is being hosted by Dr. Kishore Seendripu, CEO; and Steven Litchfield, Chief Financial Officer and Chief Corporate Strategy Officer.
After our prepared comments, we will take questions. Our comments today include forward-looking statements within the meaning of applicable securities laws, including statements relating to our guidance for the third quarter of 2026, including revenue, GAAP and non-GAAP gross margin, GAAP and non-GAAP operating expenses, GAAP and non-GAAP interest and other expense, GAAP and non-GAAP income taxes, and GAAP and non-GAAP diluted share count.
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