Filing Flows › Maxlinear (MXL) › Q3 2025
Maxlinear (MXL) Q3 2025 earnings results (third quarter 2025)
10-Q filed Oct 23, 2025
Maxlinear (MXL) reported revenue of $126M for the third quarter 2025 (Q3 2025), +56% from a year earlier and +16% from the quarter before. Operating margin was -32.7%, net loss $45.5M (36.0% of revenue).
Maxlinear, Q3 2025: revenue $126M (+56% year over year), operating margin -32.7%, net loss $45.5M, operating cash flow $10.1M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $126M | +16% | +56% |
| Operating profit | −$41.3M | — | — |
| Net earnings | −$45.5M | — | — |
| Operating cash flow | $10.1M | -3% | — |
| Free cash flow | $4.4M | -53% | — |
What changed
Revenue was $126.5M in Q3 2025, up 56% year over year and up 16% from the previous quarter. Broadband was the largest line at 46% of revenue. Broadband added $26.0M year over year (up 80%), 57% of the total change. Industrial and multi-market declined 32%.
Gross margin was 56.9%, up 2.5 points from a year earlier. Operating costs exceeded revenue by $41.3M, an operating margin of -32.7%. Operating expenses grew 2% against revenue growth of 56%. The fastest-growing cost line was SG&A (+58%). The quarter ended with a net loss of $45.5M, wider than the previous quarter's $26.6M loss.
Operating cash flow was $10.1M. Non-cash charges added back $10.8M of depreciation and amortization and $21.5M of share-based compensation. Working capital and other items added $23.3M. Capital expenditures of $5.7M left free cash flow of $4.4M.
Questions
What was Maxlinear's revenue in the third quarter 2025?
Maxlinear (MXL) reported revenue of $126M for the third quarter 2025 (Q3 2025), +56% from a year earlier and +16% from the quarter before.
Was Maxlinear profitable in the third quarter 2025?
Operating loss was $41.3M (-32.7% of revenue) and net loss $45.5M.
Source: Maxlinear 10-Q on SEC EDGAR.