- MaxLinear Inc. (MXL, Financial) reports a 4% sequential and 1% year-over-year increase in Q1 2025 net revenue, amounting to $95.9 million.
- GAAP gross margin increased to 56.1%, while non-GAAP gross margin held at 59.1%.
- The company projects Q2 2025 net revenue between $95 million and $115 million, with a focus on returning to profitability.
MaxLinear, Inc. (MXL) has released its financial results for the first quarter of 2025, ending March 31. The company recorded net revenues of $95.9 million, marking a 4% sequential growth and a 1% increase compared to the same period last year. The GAAP gross margin rose to 56.1% from the previous quarter’s 55.6% and the year-ago quarter's 51.7%.
The company reported GAAP operating expenses of $99.9 million, representing 104% of net revenue, down from 130% a year earlier. MaxLinear's GAAP loss from operations stood at 48% of net revenue, a reduction from the previous year’s 78%. The diluted loss per share improved to $0.58 from $0.68 in the prior quarter and $0.88 a year ago.
On a non-GAAP basis, the gross margin held steady at 59.1%. Operating expenses decreased to $58.4 million, accounting for 61% of net revenue, compared to 67% in the prior quarter. The non-GAAP loss from operations improved significantly to 2% of net revenue, a considerable decrease from 18% the previous year.
CEO Kishore Seendripu expressed optimism about the firm's strategic direction, noting that investments in high-value sectors such as data center interconnects and multi-gigabit PON access are expected to drive future growth. The company is focusing on expanding its market share and plans to achieve profitability and positive cash flow in Q2 2025.
Looking ahead to the second quarter of 2025, MaxLinear estimates net revenue to range between $95 million and $115 million. The company projects a GAAP gross margin of 54.5% to 57.5% and a non-GAAP gross margin of 57.5% to 60.5%.
MaxLinear will host a conference call on April 23, 2025, to discuss its financial results. Interested parties can access the webcast through the investor relations section of the company's website.
