MaxLinear Q3 Revenue Jumps 72% to $218.1M; Adds $70M to Revolver and Guides Q4 to $240-260M
MXL has more than doubled off its 52-week low of $12.77.
Summary
MaxLinear posted Q3 revenue of $218.1 million (+72% YoY) with non-GAAP EPS of $0.62, guided Q4 to $240-260 million, and upsized its revolving credit facility by $70 million to $200 million while lowering its liquidity covenant to $60 million.
Key Events · Earnings and Guidance · MXL
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Q3 Revenue Up 72% YoY
Net revenue of $218.1 million versus $126.5 million a year ago and $168.8 million in Q2, a 29% sequential increase.
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Margins Expand Sharply
GAAP operating margin of 13.9% versus -32.7% a year ago; non-GAAP operating margin 29.5%. GAAP diluted EPS $0.30, non-GAAP diluted EPS $0.62.
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Revolver Upsized by $70M
Amendment No. 3 to the Wells Fargo credit agreement adds $70 million of incremental commitments, bringing total revolving commitments to $200 million, and lowers the liquidity covenant from $80 million to $60 million.
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Q4 Guided to $240-260M
Revenue guidance of $240-260 million with non-GAAP gross margin of 59.0%-62.0% and non-GAAP operating expenses of $65-70 million; fully diluted share count 99.7 million.
Analysis · MXL · Manufacturing
Revenue of $218.1 million rose 72% year over year and 29% sequentially, with the infrastructure segment up 210% on optical AI data center products — the Keystone PAM4 DSP ramp plus the Rushmore and Annapurna 1.6T families. Profitability flipped hard: GAAP operating margin went from -32.7% a year ago to 13.9%, and non-GAAP diluted EPS reached $0.62 from $0.14. Against that backdrop the company expanded its Wells Fargo-led revolver by $70 million to $200 million and cut the liquidity covenant floor from $80 million to $60 million, giving it more headroom without touching equity. Q4 guidance of $240-260 million implies roughly another 10-19% sequential step-up, so the growth story is being guided higher, not just reported.
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In the 30 days to Oct 25, 2026, 37% of the 945 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.78%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, MXL was trading at $63.68 on NASDAQ in the Manufacturing sector, with a market capitalization of approximately $5.9B. The 52-week trading range was $12.77 to $128.30. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.