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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 |
| Operating 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 |
| Research And Development | - | 296.44 | 269.50 | 225.19 | 208.60 |
| Selling General And Administration | - | 168.01 | 132.16 | 138.33 | 159.58 |
| Total Expenses | - | 934.93 | 709.26 | 529.26 | 570.01 |
| Operating Income | - | 185.32 | -16 | -168.74 | -102.36 |
| Total Operating Income As Reported | - | 180.24 | -38.22 | -223.35 | -126.89 |
| EBITDA | - | 264.70 | 18.41 | -173.70 | -86.85 |
| Normalized EBITDA | - | 269.77 | 40.63 | -119.09 | -62.32 |
| EBIT | - | 183.97 | -53.11 | -227.84 | -130.84 |
| Interest Income | - | 0.24 | 6.05 | 6.39 | 3.38 |
| Interest Expense | - | 9.77 | 10.70 | 10.87 | 10.06 |
| Net Interest Income | - | -9.52 | -4.65 | -4.49 | -6.67 |
| Other Non Operating Income Expenses | - | 3.48 | -20.94 | -10.88 | -7.33 |
| Other Income Expense | - | -1.60 | -43.16 | -65.49 | -31.86 |
| Interest Income Non Operating | - | 0.24 | 6.05 | 6.39 | 3.38 |
| Interest Expense Non Operating | - | 9.77 | 10.70 | 10.87 | 10.06 |
| Net Non Operating Interest Income Expense | - | -9.52 | -4.65 | -4.49 | -6.67 |
| Pretax Income | - | 174.20 | -63.81 | -238.72 | -140.89 |
| Tax Provision | - | 49.16 | 9.34 | 6.48 | -4.21 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -1.43 | -4.67 | -11.47 | -0.74 |
| Net Income Continuous Operations | - | 125.04 | -73.15 | -245.20 | -136.68 |
| Net Income From Continuing And Discontinued Operation | - | 125.04 | -73.15 | -245.20 | -136.68 |
| Net Income From Continuing Operation Net Minority Interest | - | 125.04 | -73.15 | -245.20 | -136.68 |
| Net Income | - | 125.04 | -73.15 | -245.20 | -136.68 |
| Net Income Common Stockholders | - | 125.04 | -73.15 | -245.20 | -136.68 |
| Net Income Including Noncontrolling Interests | - | 125.04 | -73.15 | -245.20 | -136.68 |
| Normalized Income | - | 128.68 | -55.59 | -202.05 | -112.89 |
| Diluted NI Availto Com Stockholders | - | 125.04 | -73.15 | -245.20 | -136.68 |
| Basic Average Shares | - | 78.04 | 80.72 | 83.60 | 86.59 |
| Diluted Average Shares | - | 80.85 | 80.72 | 83.60 | 86.59 |
| Reconciled Depreciation | - | 80.73 | 71.52 | 54.14 | 43.99 |
| Reconciled Cost Of Revenue | - | 470.48 | 307.60 | 165.75 | 201.83 |
| Total Unusual Items | - | -5.08 | -22.22 | -54.62 | -24.52 |
| Total Unusual Items Excluding Goodwill | - | -5.08 | -22.22 | -54.62 | -24.52 |
| Special Income Charges | - | -5.08 | -22.22 | -54.62 | -24.52 |
| Other Special Charges | 5.22 | - | 0.04 | 7.21 | 0.45 |
| Write Off | 0 | 2.81 | 2.44 | 1.24 | - |
| Impairment Of Capital Assets | 0 | 2.81 | 2.44 | - | 0 |
| Restructuring And Mergern Acquisition | - | 2.26 | 19.74 | 46.17 | 24.08 |
Technology sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| MaxLinear, Inc.this co. | MXL | $8.4B | -61.72 | 18.67 | -30.2% | -97.97 |
| Viasat, Inc. | VSAT | $10.0B | -292.20 | 2.14 | -0.7% | 8.33 |
| Qorvo, Inc. | QRVO | $9.2B | 26.99 | 2.74 | 10.1% | 12.92 |
| Enphase Energy, Inc. | ENPH | $9.0B | 52.36 | 8.29 | 15.8% | 33.63 |
| Vishay Intertechnology, Inc. | VSH | $8.7B | - | 4.15 |
| - |
| - |
| - |
| - |
| - |
| -0.4% |
| 31.93 |
| Plexus Corp. | PLXS | $7.6B | 44.01 | 5.23 | 11.9% | 26.92 |
| ESCO Technologies Inc. | ESE | $7.6B | 25.28 | 4.91 | 19.4% | 31.35 |
| Clear Secure, Inc. | YOU | $7.3B | 66.70 | 40.97 | 61.4% | 33.05 |
| Ralliant Corporation | RAL | $7.0B | -5.72 | 4.28 | -74.8% | -7.39 |
| Peer Median | - | 26.99 | 4.59 | 11.0% | 29.14 | |