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Maxlinear (MXL) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Oct 22, 2026 · Maxlinear (MXL) Q3 2026 earnings results →
Q3 2026 Revenue up 72% year over year to $218M · 13¢ of every $1 of revenue kept as net profit · operating margin 13.9%
Maxlinear made $218M in Q3 2026 (+72% Y/Y): Infrastructure $125M, Broadband $53.3M, Connectivity $24.7M. Operating margin 13.9%, net earnings $28.9M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 22, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $218.1M in Q3 2026, up 72% year over year and up 29% from the previous quarter. Infrastructure was the largest line at 57% of revenue. Infrastructure added $84.6M year over year (up 210%), 92% of the total change. Broadband declined 8%.
Gross margin was 58.7%, up 1.9 points from Q3 2025. Operating profit was $30.2M, a 13.9% margin (up 46.5 points year over year). Operating expenses fell 14% while revenue rose 72%. The fastest-growing cost line was Research & development (+12%). Net earnings were $28.9M. The effective tax rate was -2.6%.
Operating cash flow was −$13.6M. Non-cash charges added back $8.9M of depreciation and amortization and $19.8M of share-based compensation. Working capital and other items used $71.2M. Capital expenditures of $5.9M exceeded it, leaving free cash flow of −$19.5M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Oct 22, 2026 | $218M | +72% | 13.9% | $28.9M | −$13.6M |
| Q2 2026 | 10-Q | Jul 23, 2026 | $169M | +55% | -2.5% | $1.8M | $4.8M |
| Q1 2026 | 10-Q | Apr 23, 2026 | $137M | +43% | -12.5% | −$45.1M | −$8.9M |
| Q4 2025 | 10-K | Jan 29, 2026 | $136M | +48% | -10.9% | −$14.9M | $10.4M |
| Q3 2025 | 10-Q | Oct 23, 2025 | $126M | +56% | -32.7% | −$45.5M | $10.1M |
| Q2 2025 | 10-Q | Jul 23, 2025 | $109M | +18% | -22.6% | −$26.6M | $10.5M |
| Q1 2025 | 10-Q | Apr 23, 2025 | $95.9M | +0.7% | -48.0% | −$49.7M | −$11.4M |
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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⚖️Fair value by methodinteractive
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📈Investments: gains and what it boughtinteractive
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Customers and suppliers named in filings
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About Maxlinear
We incorporated in the State of Delaware in September 2003. Our executive offices are located at 5966 La Place Court, Suite 100, Carlsbad, California 92008, and our telephone number is (760) 692-0711. In this Form 10-K, unless the context otherwise requires, the “Company,” “we,” “us” and “our” refer to MaxLinear, Inc. and its directly and indirectly wholly-owned subsidiaries. Our website address is www.maxlinear.com. The contents of our website are not incorporated by reference into this Form 10-K. We provide free of charge through a link on our website access to our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, as well as amendments to those reports, as soon as reasonably practical after the reports are electronically filed with, or furnished to, the Securities and Exchange Commission, or SEC.
In its own words, from its 10-K, filed Jan 29, 2026.
Maxlinear against its Semiconductors & Related Devices peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +72% against the peers' median +45%. Operating margin: 13.9% against the peers' median 40.1%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| MXL Maxlinear | Q3 2026 | $218M | +72% | 13.9% |
| NVDA NVIDIA | Q2 FY27 | $96.2B | +106% | 66.2% |
| MU Micron Technology | Q4 FY26 | $54.2B | +379% | 80.7% |
| AVGO Broadcom | Q3 FY26 | $29.6B | +86% | 53.9% |
| INTC Intel | Q3 2026 | $16.5B | +21% | 15.3% |
| AMD Advanced Micro Devices | Q3 2026 | $13.4B | +45% | 21.2% |
| AMAT Applied Materials | Q3 FY26 | $9.1B | +25% | 33.7% |
| TXN Texas Instruments | Q3 2026 | $6.1B | +28% | 47.5% |
| ADI Analog Devices | Q3 FY26 | $4.0B | +40% | 40.1% |
Source: Maxlinear 10-Q on SEC EDGAR · CIK 1288469 · Semiconductors & Related Devices
Guidance and outlook
13F: who owns MXL and who is buying
More on MXL
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results