MaxLinear, Inc. (MXL) Income Statement
MXL 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsMXL revenue and net income
Where MXL's revenue goes
2025Each bar shows an amount and its share of revenue. MXL kept −29.2% of revenue as net income.
MXL profit margins
MXL growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +29.7% | −25.3% | −0.5% | +4.5% |
| Gross profit | +38.1% | −25.3% | +7.0% | +5.5% |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | — | −58.6% | −19.2% | −12.6% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
MXL quarterly EPS vs estimates
MaxLinear beat the analyst EPS estimate in 7 of the last 8 quarters. Next report: October 22, 2026 (estimate $0.32).
MXL income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $467.6M | $360.5M | $693.3M | $1.12B | $892.4M | $478.6M | $317.2M | $385.0M | $420.3M | $387.8M |
| Cost of revenue | $201.8M | $168.1M | $307.6M | $482.4M | $420.2M | $289.3M | $172.6M | $208.3M | $241.7M | $157.8M |
| Gross profit | $265.8M | $192.4M | $385.7M | $637.8M | $472.2M | $189.3M | $144.6M | $176.6M | $178.6M | $230.0M |
| Research & development | $208.6M | $225.2M | $269.5M | $296.4M | $278.4M | $180.0M | $98.3M | $119.9M | $111.7M | $97.7M |
| Sales, general & admin | $159.6M | $138.3M | $142.2M | $168.0M | $149.9M | $130.0M | $88.8M | $101.8M | $105.8M | $64.5M |
| Total operating expenses | $392.7M | $361.2M | $401.7M | $452.5M | $404.8M | $272.2M | $164.0M | $189.7M | $178.7M | $156.5M |
| Operating income | −$126.9M | −$168.7M | −$38.2M | $185.3M | $67.4M | −$83.0M | −$19.4M | −$13.1M | −$147,000 | $73.5M |
| Interest income | $3.4M | $6.4M | $4.3M | $245,000 | $78,000 | $409,000 | $775,000 | $78,000 | $274,000 | $572,000 |
| Interest expense | $10.1M | $10.9M | $10.7M | $9.8M | $13.0M | $13.0M | $11.1M | $14.3M | $10.4M | $104,000 |
| Income before taxes | −$140.9M | −$238.7M | −$63.8M | $174.2M | $47.9M | −$114.9M | −$32.5M | −$32.9M | −$34.0M | $63.7M |
| Income taxes | −$4.2M | $6.5M | $9.3M | $49.2M | $5.9M | −$16.3M | −$12.6M | −$6.7M | −$24.8M | $2.4M |
| Net income | −$136.7M | −$245.2M | −$73.1M | $125.0M | $42.0M | −$98.6M | −$19.9M | −$26.2M | −$9.2M | $61.3M |
| EBITDA | −$58.4M | −$181.7M | −$38.2M | $255.9M | $145.3M | −$29.3M | $43.0M | $60.4M | $43.1M | $90.4M |
| EPS (diluted) | $0.30 | −$0.91 | $1.11 | $4.23 | $2.69 | $0.87 | $0.80 | $1.10 | $1.45 | $1.78 |
| Gross margin | 56.8% | 53.4% | 55.6% | 56.9% | 52.9% | 39.5% | 45.6% | 45.9% | 42.5% | 59.3% |
| Operating margin | −27.1% | −46.8% | −5.5% | 16.5% | 7.6% | −17.3% | −6.1% | −3.4% | −0.0% | 19.0% |
| Net margin | −29.2% | −68.0% | −10.6% | 11.2% | 4.7% | −20.6% | −6.3% | −6.8% | −2.2% | 15.8% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $168.8M | $137.2M | $136.4M | $126.5M | $108.8M | $95.9M | $92.2M | $81.1M | $92.0M | $95.3M | $125.4M | $135.5M |
| Cost of revenue | $71.2M | $58.3M | $57.9M | $54.9M | $47.9M | $42.7M | $41.5M | $37.6M | $42.4M | $46.6M | $57.4M | $62.2M |
| Gross profit | $97.7M | $78.9M | $78.6M | $71.6M | $60.9M | $53.2M | $50.7M | $43.5M | $49.6M | $48.7M | $67.9M | $73.3M |
| Research & development | $56.0M | $53.2M | $51.7M | $54.3M | $47.2M | $55.5M | $51.3M | $52.6M | $56.5M | $64.8M | $65.2M | $66.3M |
| Sales, general & admin | $45.8M | $42.5M | $42.0M | $47.7M | $33.4M | $36.6M | $38.1M | $30.2M | $33.6M | $36.5M | $34.4M | $25.4M |
| Total operating expenses | $101.8M | $95.6M | $93.4M | $101.6M | $80.0M | $91.5M | $88.8M | $82.2M | $89.5M | $100.7M | $99.0M | $91.1M |
| Operating income | −$4.2M | −$16.7M | −$14.9M | −$30.0M | −$19.0M | −$38.2M | −$38.1M | −$38.7M | −$40.0M | −$52.0M | −$31.1M | −$17.8M |
| Interest income | $474,000 | $633,000 | $835,000 | $874,000 | $812,000 | $864,000 | $1.0M | $1.7M | $1.9M | $1.8M | $1.8M | $1.7M |
| Interest expense | $2.3M | $2.2M | $2.4M | $2.6M | $2.5M | $2.5M | $2.8M | $2.7M | $2.7M | $2.7M | $2.9M | $2.7M |
| Income before taxes | −$6.5M | −$18.7M | −$17.8M | −$43.4M | −$30.7M | −$49.0M | −$40.8M | −$82.5M | −$41.3M | −$74.1M | −$42.6M | −$41.5M |
| Income taxes | −$8.3M | $26.5M | −$2.9M | $2.1M | −$4.1M | $711,000 | $17.0M | −$6.7M | −$2.1M | −$1.8M | −$4.1M | −$1.7M |
| Net income | $1.8M | −$45.1M | −$14.9M | −$45.5M | −$26.6M | −$49.7M | −$57.8M | −$75.8M | −$39.3M | −$72.3M | −$38.5M | −$39.8M |
| EBITDA | $3.6M | −$5.5M | −$4.6M | −$31.7M | −$17.0M | −$37.3M | −$28.2M | −$69.7M | −$27.0M | −$56.8M | −$25.3M | −$24.0M |
| EPS (diluted) | $0.13 | $0.22 | $0.19 | $0.14 | $0.02 | −$0.05 | −$0.09 | −$0.36 | −$0.25 | −$0.21 | $0.01 | $0.02 |
| Gross margin | 57.8% | 57.5% | 57.6% | 56.6% | 56.0% | 55.5% | 55.0% | 53.6% | 53.9% | 51.1% | 54.2% | 54.1% |
| Operating margin | −2.5% | −12.2% | −10.9% | −23.7% | −17.5% | −39.8% | −41.4% | −47.7% | −43.4% | −54.6% | −24.8% | −13.1% |
| Net margin | 1.0% | −32.9% | −10.9% | −36.0% | −24.4% | −51.8% | −62.8% | −93.4% | −42.7% | −75.9% | −30.7% | −29.4% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in MXL's financial statements (latest annual report filed January 29, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
MXL financial results
In fiscal year 2025 (ended December 31, 2025), MaxLinear reported revenue of $467.6 million, up 29.7% from the year before. It had a net loss of $136.7 million, a net profit margin of −29.2%. Diluted earnings per share came to $0.30. Over five years revenue grew at an average rate of −0.5% a year.
See the MXL stock overview for the latest quote and news, or the MXL chart for price history and technical indicators.
MXL income statement FAQ
What is MaxLinear's annual revenue?
MaxLinear reported total revenue of $467.6 million for fiscal year 2025, which ended on December 31, 2025. That was up 29.7% from $360.5 million the previous year.
Is MaxLinear profitable?
No. MaxLinear reported a net loss of $136.7 million in fiscal 2025, a net profit margin of −29.2%; its operating margin was −27.1%.
What is MaxLinear's gross margin?
MaxLinear's gross margin was 56.8% in fiscal 2025: for every $100 of revenue, MaxLinear kept $57 after the direct cost of its products and services.
How much does MaxLinear spend on research and development?
MaxLinear spent $208.6 million on research and development in fiscal 2025, 44.6% of revenue.
How fast is MaxLinear growing?
Revenue grew −0.5% a year on average over the last five fiscal years, from $478.6 million to $467.6 million.
What are MaxLinear's earnings per share?
MaxLinear earned $0.30 per diluted share in fiscal 2025, compared with $-0.91 a year earlier.
When will MaxLinear report its next earnings?
MaxLinear is expected to report results for the quarter ending September 30, 2026 on October 22, 2026 after the market closes.
When does MaxLinear's fiscal year end?
MaxLinear's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on January 29, 2026.