MaxLinear, Inc. reported first-quarter 2026 revenue of $137.2 million, marking a 43% year-over-year increase and a modest 1% sequential gain, as demand for optical connectivity in AI-driven data center infrastructure accelerated. The company’s infrastructure segment surged 136% year-over-year, reflecting strong adoption of its optical interconnect products across hyperscale deployments supporting both scale-up and scale-out AI architectures.
On a GAAP basis, gross margin reached 57.5%, while operating expenses totaled $96.1 million, or 70% of revenue. The company posted a GAAP operating loss of 13% of revenue and a diluted loss per share of $0.52. On a non-GAAP basis, MaxLinear reported gross margin of 59.5% and operating income of 16% of revenue, with diluted earnings per share of $0.22—an improvement from a loss in the year-ago period. The company also amended its credit agreement, extending its revolving credit facility maturity to March 2028 and increasing total capacity to $130 million.
MaxLinear expects second-quarter 2026 revenue in the range of $160 million to $170 million, signaling a step-up in growth tied to production ramps of optical data center products. The company guided GAAP gross margins of 56% to 59% and non-GAAP gross margins of 58% to 61%, with operating expenses expected to remain relatively stable as revenue scales.
- Q1 2026 revenue: $137.2M (+43% YoY, +1% QoQ)
- Infrastructure segment: +136% YoY, now largest end market
- GAAP gross margin: 57.5%; non-GAAP gross margin: 59.5%
- Non-GAAP operating income: 16% of revenue
- Non-GAAP EPS: $0.22 (vs. -$0.05 YoY)
- Credit facility expanded to $130M, maturity extended to March 2028
- Q2 2026 revenue outlook: $160M–$170M
“Q1 marks the start of a multi-year growth phase for MaxLinear, led by accelerating momentum in optical data center connectivity,” said Kishore Seendripu, Chairman and CEO of MaxLinear. “We are now at a clear inflection point in our optical data center business marked by a step function increase in revenues expected in Q2.”
