Maxlinear Infrastructure Growth Drives Second Quarter Revenue Gain
The semiconductor company reported net revenue of $168.8 million, a 55% increase from the same period last year.
Maxlinear (MXL) reported a significant acceleration in revenue growth for the second quarter of 2026, driven by expanding demand for its infrastructure products. The results marked a shift in trajectory from the previous quarter, as the company scaled its high-speed connectivity platforms.
Net revenue rose 23% sequentially to $168.8 million. This growth accelerated from a 1% sequential increase in the first quarter. On a year-over-year basis, revenue grew 55%, compared to 43% growth in the prior quarter.
Growth was led by the infrastructure business, which saw revenue climb 145% year-over-year. This represented an acceleration from the 136% year-over-year growth reported in the first quarter. Growth was driven by the ramp of its Keystone PAM4 DSP platform for 800G applications and a roadmap for 1.6T-capable products.
Profitability improved across both GAAP and non-GAAP measures. Non-GAAP diluted EPS rose to $0.35, a 59% increase from $0.22 in the first quarter and a 1,650% increase from $0.02 in the second quarter of 2025.
Non-GAAP operating margin expanded to 22.3%, up 640 basis points from 15.9% in the first quarter and up 1,510 basis points from 7.2% in the second quarter of 2025. GAAP operating margin improved to (2.5)%, a 1,000 basis point improvement from (12.5)% in the first quarter.
Margins remained stable or improved slightly. Non-GAAP gross margin held steady at 59.5%. GAAP gross margin expanded 30 basis points sequentially to 57.8% and rose 130 basis points year-over-year from 56.5%.
Maxlinear projects third-quarter revenue between $210 million and $220 million. This guidance represents an increase over the second-quarter actual of $168.8 million.