MaxLinear Posts $45.1M Net Loss in Q1 2026 as Revenue Climbs 43% to $137.2M

MaxLinear, Inc. (NASDAQ: MXL), a Delaware-based semiconductor company, reported a net loss of $45.1 million for the three months ending March 31, 2026, compared with a net loss of $49.7 million in the same quarter a year earlier. The loss per share narrowed to $0.52 from $0.58. Read more earnings reports.

Revenue for the quarter reached $137.2 million, up 43% from $95.9 million in the first quarter of 2025. The company's gross profit expanded to $78.9 million from $53.8 million, reflecting a gross margin of 57.5% versus 56.1% in the prior-year period.

Operating expenses for the quarter totaled $96.1 million, down from $99.9 million a year earlier. The company posted an operating loss of $17.2 million, improving from an operating loss of $46.1 million in the first quarter of 2025. Labor and related expenses remained relatively flat at $67.2 million compared with $67.1 million in the prior-year quarter.

Selling, general and administrative expenses rose to $42.5 million from $36.6 million, while the company recorded an income tax expense of $26.5 million in the first quarter of 2026, substantially higher than the $711,000 expense in the same quarter of 2025.

The company's balance sheet showed total assets of $771.3 million as of March 31, 2026, down from $796.4 million at the end of December 2025. Cash and cash equivalents declined to $61.1 million from $72.8 million over the same period. Including restricted cash, the company held $89.9 million compared with $101.4 million at year-end 2025.

Current assets remained essentially flat at $249.5 million versus $248.8 million at year-end. Inventory increased to $85.8 million from $78.1 million, while accounts receivable fell to $40.9 million from $46.1 million. Accounts payable decreased to $32.9 million from $37.9 million.

Long-term debt stood at $123.8 million as of March 31, 2026, virtually unchanged from $123.6 million at the end of December 2025. Total liabilities declined to $317.1 million from $344.5 million, driven by a reduction in current liabilities to $146.7 million from $186.0 million.

Stockholders' equity increased slightly to $454.2 million from $451.9 million at year-end. The accumulated deficit widened to $545.5 million from $500.4 million as the company absorbed the quarterly loss. Common shares outstanding increased to 89.5 million from 86.5 million.

Cash flow from operations for the quarter was negative $8.9 million compared with negative $11.4 million in the first quarter of 2025. Cash used in investing activities totaled $4.2 million versus $2.0 million a year earlier. The company generated $2.3 million from financing activities, a reversal from $2.1 million used in the prior-year quarter.

Financial Summary