Slide 1: MaxLinear Q2'26 Earnings
MaxLinear Q2'26 Earnings July 23, 2026
Slide 2: Cautionary Note Concerning Forward-Looking Statements
Cautionary Note Concerning Forward-Looking Statements This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Unless otherwise indicated, all forward looking
Slide 3: Disclaimer
Disclaimer Non-GAAP Financial Measures This communication contains non-GAAP financial measures, which MaxLinear management believes are useful to investors and reflect how management measures MaxLinear’s business. Among other uses, our management uses non-GAAP measures to compare our performance rel
Slide 4: Q2'26 Financial Summary
Q2'26 Financial Summary • Revenue of $168.8 million, up 23% from Q1'26 and up 55% from Q2'25 • GAAP and non-GAAP gross margin was 57.8% and 59.5% • GAAP and non-GAAP operating margin was (2.5)% and 22.3% • GAAP and non-GAAP diluted earnings per share was $0.02 and $0.35
Slide 5: Q2'26 Business Highlights
Q2'26 Business Highlights • Infrastructure grew 35% sequentially and 145% over Q2'25 continuing as MaxLinear’s largest revenue category. This was led by strong growth in high-speed optical interconnects. • Keystone, our 100G-per-lane PAM4 DSP platform, continues to ramp into high-volume production.
Slide 6: Q2'26 GAAP Financial Results
Q2'26 GAAP Financial Results $M Q2'26 Q1'26 Q2'25 Net Revenue $168.8 $137.2 $108.8 Gross Margin 57.8% 57.5% 56.5% Operating Expenses $101.8 $96.1 $86.1 Interest and Other Income (Expense), Net $(2.4) $(1.4) $(6.1) Tax Rate 126.9% (142.0)% 13.4% Net Income (Loss) $1.8 $(45.1) $(26.6) Diluted Net Inco
Slide 7: Q2'26 Non-GAAP Financial Highlights
Q2'26 Non-GAAP Financial Highlights $M Q2'26 Q1'26 Q2'25 Net Revenue (GAAP) $168.8 $137.2 $108.8 Non-GAAP Gross Margin 59.5% 59.5% 59.1% Non-GAAP Operating Expenses $62.8 $59.9 $56.6 Non-GAAP Interest and Other Income (Expense), Net $(2.3) $(1.3) $(5.9) Non-GAAP Tax Rate 2.8% 4.9% 7.4% Non-GAAP Net
Slide 8: Q2'26 Balance Sheet
Q2'26 Balance Sheet $M Assets Q2'26 Q1'26 Q2'25 Cash and cash equivalents $64.8 $61.1 $108.6 Accounts receivable $51.0 $40.9 $105.8 Inventory $105.5 $85.8 $86.0 Other current assets $77.3 $61.7 $29.7 Total current assets $298.7 $249.5 $330.1 Net PP&E $41.2 $44.4 $51.1 Long-term restricted cash $27.4
Slide 9: Q3'26 Guidance
Q3'26 Guidance Non-GAAP $M, shares in M GAAP (except for revenue) Revenue $210 - $220 $210 - $220 Gross Margin 57.0% - 60.0% 58.5% - 61.5% Operating Expenses $98 - $104 $66 - $71 Interest and Other Expense, Net $3.8 - $4.2 $3.7 - $4.1 Income Tax Provision $1.5 $1.0 Fully Diluted Share Count 99 99
Slide 10: Appendix
Appendix
Slide 11: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation UNAUDITED RECONCILIATION OF NON-GAAP ADJUSTMENTS (in thousands, except per share data) Three Months Ended Six Months Ended June 30, 2026 March 31, 2026 June 30, 2025 June 30, 2026 June 30, 2025 GAAP gross profit $ 97,663 $ 78,884 $ 61,525 $ 176,547 $ 115,356 Stock-bas
Slide 12: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation UNAUDITED RECONCILIATION OF NON-GAAP ADJUSTMENTS (in thousands, except per share data) Three Months Ended Six Months Ended June 30, 2026 March 31, 2026 June 30, 2025 June 30, 2026 June 30, 2025 GAAP loss from operations $ (4,185) $ (17,209) $ (24,615) $ (21,394) $ (70
Slide 13: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation UNAUDITED RECONCILIATION OF NON-GAAP ADJUSTMENTS (in thousands, except per share data) Three Months Ended Six Months Ended June 30, 2026 March 31, 2026 June 30, 2025 June 30, 2026 June 30, 2025 GAAP net income (loss) $ 1,760 $ (45,137) $ (26,586) $ (43,377) $ (76,299)
Slide 14: Thank You
Thank You