MaxLinear, Inc. provides communications systems-on-chip solutions in the United States, Asia, Europe, and internationally. Its products integrate various portions of a high-speed communication system, including radio frequency, high-performance analog, mixed-signal, digital signal processing, security engines, data compression and networking layers, and power management. Its products are used in various electronic devices, such as radio transceivers and modems for 4G/5G base-station and backhaul infrastructure; optical transceivers; wi-fi and wireline routers for home networking; broadband modems compliant with data over cable service interface specifications, passive optical fiber standards, and digital subscriber line, as well as power management and interface products. It serves electronics distributors, module makers, original equipment manufacturers, and original design manufacturers through a direct sales force, third-party sales representatives, and a network of distributors. The company was incorporated in 2003 and is headquartered in Carlsbad, California.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $468M | $-87M | $-137M | $-0M | -30.2% | 29.7% | -44.3% |
| 2024 | $361M | $-174M | $-245M | $-69M | -47.5% | -48.0% | 235.2% |
| 2023 | $693M | $18M | $-73M | $24M | -10.7% | -38.1% | -158.5% |
| 2022 | $1.1B | $265M | $125M | $336M | 18.5% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 1,120.25 | 693.26 | 360.53 | 467.64 |
| Cost Of Revenue | - | 470.48 | 307.60 | 165.75 | 201.83 |
| Gross Profit | - | 649.77 | 385.66 | 194.78 | 265.81 |
| Operating Expense | - | 464.45 | 401.66 | 363.52 | 368.18 |
| Operating Income | - | 185.32 | -16 | -168.74 | -102.36 |
| EBITDA | - | 264.70 | 18.41 | -173.70 | -86.85 |
| EBIT | - | 183.97 | -53.11 | -227.84 | -130.84 |
| Pretax Income | - | 174.20 | -63.81 | -238.72 | -140.89 |
| Tax Provision | - | 49.16 | 9.34 | 6.48 | -4.21 |
| Net Income | - | 125.04 | -73.15 | -245.20 | -136.68 |
| Net Income Common Stockholders | - | 125.04 | -73.15 | -245.20 | -136.68 |
| Total Expenses | - | 934.93 | 709.26 | 529.26 | 570.01 |
| Interest Expense | - | 9.77 | 10.70 | 10.87 | 10.06 |
| Interest Income | - | 0.24 | 6.05 | 6.39 | 3.38 |
| Research And Development | - | 296.44 | 269.50 | 225.19 | 208.60 |
| Selling General And Administration | - | 168.01 | 132.16 | 138.33 | 159.58 |
| Normalized EBITDA | - | 269.77 | 40.63 | -119.09 | -62.32 |
| Normalized Income | - | 128.68 | -55.59 | -202.05 | -112.89 |
| Market Cap | 5,401.41 | 5,401.41 | 5,401.41 | 5,401.41 | 5,401.41 |
Technology sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| MaxLinear, Inc.this co. | MXL | - | -39.52 | 11.95 | -30.2% | -63.03 |
| Teradata Corporation | TDC | $2.5B | 19.22 | 10.86 | 56.5% | 8.72 |
| Verra Mobility Corporation | VRRM | $2.4B | 16.70 | 7.79 | 46.6% | 8.73 |
| Insight Enterprises, Inc. | NSIT | $2.3B | 14.13 | 1.35 | 9.5% | 8.28 |
| ePlus inc. | PLUS | $2.3B | 20.77 | 2.29 |
| - |
| - |
| - |
| - |
| - |
| 11.0% |
| 10.97 |
| Alarm.com Holdings, Inc. | ALRM | $2.2B | 16.67 | 2.61 | 15.6% | 10.06 |
| DXC Technology Company | DXC | $2.1B | 5.18 | 0.62 | 12.0% | 2.16 |
| Digi International Inc. | DGII | $2.1B | 52.23 | 3.35 | 6.4% | 25.20 |
| SPS Commerce, Inc. | SPSC | $2.1B | 21.89 | 2.10 | 9.6% | 10.76 |
| Peer Median | - | 17.96 | 2.45 | 11.5% | 9.40 | |