MaxLinear Revenue Rises 72% to $218.1 Million in Third Quarter
Key Facts
MaxLinear reported revenue of $218.1 million in the third quarter of 2026, as growth in its infrastructure business linked to optical products for AI data centers accelerated, according to its earnings release. Revenue rose 29% from the previous quarter as the company continued to expand its business following growth in the second quarter. Revenue increased 72% from the same period a year earlier, with growth accelerating from the previous quarter on both a quarterly and annual basis. Adjusted diluted earnings per share were $0.62 in the third quarter, according to the company's official earnings disclosure. That exceeded an estimate of $0.56 per share listed in Kiplinger's earnings calendar before the announcement. The earnings beat came alongside revenue within the guidance range management had announced for the third quarter during the second-quarter earnings call.
MaxLinear had reported revenue of $168.8 million in the second quarter of 2026, according to its earnings release for that period, providing the quarterly comparison base for the latest results. Revenue growth at the time was 23% from the first quarter, before accelerating in the third quarter. Second-quarter revenue rose 55% from the same period a year earlier, according to the same disclosure. During that quarter's earnings call, management said: "We currently expect third-quarter 2026 revenue to range between $210 million and $220 million," according to the transcript published on Investing.com. Actual third-quarter revenue thus approached the upper end of the company's previously set range, alongside faster quarterly and annual growth than in the second quarter.
By business segment, infrastructure grew 210% year on year in the third quarter of 2026, according to MaxLinear's release, as adoption of optical products for AI data centers accelerated. The business had recorded annual growth of 145% in the second quarter of the same year, with its growth rate accelerating again in the latest period. The chief executive attributed momentum in the optical business to the ramp-up in commercial production of what he described as "our Keystone PAM4 digital signal processing platform." On a GAAP basis, the company reported diluted earnings per share of about $0.30 in the third quarter, compared with the adjusted figure included in its results. The adjusted operating margin was 29.5% during the period, according to the release, alongside growth in revenue and the infrastructure business. The adjusted gross margin was 60.0% in the same quarter, according to the disclosure, which presented adjusted profitability metrics alongside GAAP earnings per share.
Alongside its earnings, MaxLinear announced a $70 million increase in its revolving credit facility, bringing its amended size to $200 million. The facility expansion was included in the earnings announcement, which also contained management's revenue outlook for the following period. For the fourth quarter of 2026, the company expects revenue of between $240 million and $260 million, with both ends of the range exceeding third-quarter revenue. In a separate announcement on the earnings discussion, MaxLinear scheduled its call for October 22, 2026, to review third-quarter financial performance. The company set the call for 4:30 p.m. Eastern time, as its financial guidance shifted to the fourth quarter of the year.