MaxLinear Q2 2026 Earnings Call Transcript

MaxLinear (NASDAQ: MXL ) held its second-quarter earnings conference call on Thursday. Below is the complete transcript from the call. APIs provide real-time access to earnings call transcripts and financial data. Visit to learn more.

8 million, driven by strong performance in the infrastructure segment, particularly in optical data center products. 35. 5%, respectively. MaxLinear is increasing its optical data center revenue expectations for 2026 to $210-$230 million, with continued growth anticipated into 2027, driven by the Keystone and upcoming Rushmore products.

5%. Strategic initiatives include the expansion of the PAM4 series technology and the introduction of Rushmore, Washington, and Annapurna platforms, targeting next-generation AI and cloud infrastructure. S. and Asia markets, with significant growth from 800 gigabit PAM4 solutions.

MaxLinear's broadband and connectivity segments are showing growth, bolstered by deployments of single-chip fiber PON and Wi-Fi 7 gateway platforms. Management highlighted strong customer relationships and supply chain management as key factors in meeting rising demand and maintaining growth momentum. Full Transcript OPERATOR Greetings and welcome to the MaxLinear second quarter 2026 earnings conference call. At this time all participants are in a listen-only mode.

A question-and-answer session will follow the formal presentation. If anyone should require operator assistance, please press 0 on your telephone keypad. As a reminder, this conference is being recorded. It is now my pleasure to introduce Leslie Green, Investor Relations.

Please go ahead. Leslie Green, Investor Relations 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 Steve 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 margins, 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.

In addition, we will make forward-looking statements relating to trends, opportunities, execution of our business plan and potential growth and uncertainties in various product and geographic markets including, without limitation, statements concerning future financial and operating results, opportunities for revenue and market share across target segments, new products including the timing of production and launches of such products, demand for and adoption of certain technologies, and our total addressable market.

These forward-looking statements involve risks and uncertainties, including risks outlined in the Risk Factors section of our recent SEC filings, including our most recent Annual Report on Form 10-K and our Form 10-Q for the quarter ended June 30, 2026, which we filed today. Any forward-looking statements are made as of today and MaxLinear has no obligation to update or revise any forward-looking statements. com. In addition, we report certain historical financial metrics, including but not limited to gross margin, income or loss from operations, operating expenses, interest and other expense, and income tax on both a GAAP and non-GAAP basis.

We encourage investors to review the detailed reconciliation of our GAAP and non-GAAP presentations in the press release available on our website. We do not provide a reconciliation of non-GAAP guidance for future periods because of the inherent uncertainty associated with our ability to project certain future changes, including stock-based compensation and its related tax effects, as well as potential impairments. Non-GAAP financial measures discussed today are not meant to be considered in isolation or as a substitute for comparable GAAP financial measures.

We are providing this information because management believes it is useful to investors as it reflects how management measures our business. Lastly, this call is also being webcast and the replay will be available on our website for two weeks. And now let me turn the call over to Dr. Kishore Seendripu, CEO of MaxLinear.

Kishore Seendripu, CEO Thank you, Leslie, and good afternoon everyone. Our Q2 financial results highlight the exciting inflection in our business trajectory and the beginning of a multiyear growth phase for MaxLinear. Overall revenue grew 55% year on year, reflecting strong execution, accelerating adoption of our newest data center products, improving visibility, and gathering momentum in our infrastructure portfolio. 02.

In addition, with the favorable product mix shift towards our infrastructure business, we are now forecasting Q3 2026 non-GAAP gross margin to be 60% at the midpoint of our guidance range, as well as a substantial increase in our non-GAAP profitability. Infrastructure is now our largest revenue category and grew 145% year on year, driven by robust production ramps in optical,