MaxLinear Inc. (MXL) financial statements: income statement, balance sheet and cash flow
MaxLinear Inc.'s income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), MaxLinear Inc. reported revenue of $467.6M (+29.7% year on year) and net income of ($136.7M) (+44.3% year on year).
Income statement
MaxLinear Inc. income statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Net revenue
$467.6M
$360.5M
$693.3M
$1.1B
Cost of net revenue
$201.8M
$165.7M
$307.6M
$470.5M
Gross profit
$265.8M
$194.8M
$385.7M
$649.8M
Research and development
$208.6M
$225.2M
$269.5M
$296.4M
Selling, general and administrative
$159.6M
$138.3M
$132.2M
$168.0M
Impairment losses
$0
$1.2M
$2.4M
$2.8M
Restructuring charges
$24.5M
$53.4M
$19.8M
$2.3M
Total operating expenses
$392.7M
$418.1M
$423.9M
$469.5M
Loss from operations
($126.9M)
($223.4M)
($38.2M)
$180.2M
Interest income
$3.4M
$6.4M
$6.1M
$245.0K
Interest expense
($10.1M)
($10.9M)
($10.7M)
($9.8M)
Other expense, net
($7.3M)
($10.9M)
($20.9M)
$3.5M
Total other income (expense), net
($14.0M)
($15.4M)
($25.6M)
($6.0M)
Loss before income taxes
($140.9M)
($238.7M)
($63.8M)
$174.2M
Income tax provision (benefit)
($4.2M)
$6.5M
$9.3M
$49.2M
Net loss
($136.7M)
($245.2M)
($73.1M)
$125.0M
Basic ( in usd per share)
-$1.58
-$2.93
-$0.91
$1.60
Diluted (in usd per share)
-$1.58
-$2.93
-$0.91
$1.55
Basic (in shares)
86.6M
83.6M
80.7M
78.0M
Diluted (in shares)
86.6M
83.6M
80.7M
80.9M
MaxLinear Inc. income statement, quarters
Line item
Sep 30, 2026 · Q3
Jun 30, 2026 · Q2
Mar 31, 2026 · Q1
Sep 30, 2025 · Q3
Net revenue
$218.1M
$168.8M
$137.2M
$126.5M
Cost of net revenue
$90.0M
$71.2M
$58.3M
$54.6M
Gross profit
$128.1M
$97.7M
$78.9M
$71.9M
Research and development
$60.6M
$56.0M
$53.2M
$54.3M
Selling, general and administrative
$36.9M
$45.8M
$42.5M
$47.7M
Restructuring charges
$254.0K
$64.0K
$474.0K
$11.3M
Total operating expenses
$97.8M
$101.8M
$96.1M
$113.2M
Income (loss) from operations
$30.2M
($4.2M)
($17.2M)
($41.3M)
Interest income
$465.0K
$474.0K
$633.0K
$874.0K
Interest expense
($2.7M)
($2.3M)
($2.2M)
($2.6M)
Other income (expense), net
$170.0K
($570.0K)
$121.0K
($324.0K)
Total other income (expense), net
($2.1M)
($2.4M)
($1.4M)
($2.1M)
Income (loss) before income taxes
$28.2M
($6.5M)
($18.7M)
($43.4M)
Income tax provision (benefit)
($732.0K)
($8.3M)
$26.5M
$2.1M
Net income (loss)
$28.9M
$1.8M
($45.1M)
($45.5M)
Basic (in usd per share)
$0.32
$0.02
-$0.52
-$0.52
Diluted (in usd per share)
$0.30
$0.02
-$0.52
-$0.52
Basic (in shares)
90.8M
90.0M
87.6M
87.2M
Diluted (in shares)
97.7M
97.3M
87.6M
87.2M
Balance sheet
MaxLinear Inc. balance sheet, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Cash and cash equivalents
$72.8M
$118.6M
$187.3M
$187.4M
Short-term restricted cash
$1.4M
$1.0M
$1.1M
$982.0K
Accounts receivable, net
$46.1M
$85.5M
$170.6M
$171.0M
Inventory
$78.1M
$90.3M
$99.9M
$160.5M
Prepaid expenses and other current assets
$50.4M
$28.1M
$29.2M
$24.7M
Total current assets
$248.8M
$323.4M
$488.0M
$563.1M
Long-term restricted cash
$27.2M
$25.0K
$17.0K
$22.0K
Property and equipment, net
$48.9M
$59.3M
$66.4M
$79.0M
Leased right-of-use assets
$15.5M
$18.2M
$31.3M
$28.5M
Intangible assets, net
$48.9M
$55.0M
$73.6M
$109.3M
Goodwill
$318.6M
$318.6M
$318.6M
$306.7M
Deferred tax assets
$77.3M
$68.7M
$69.5M
$66.5M
Other long-term assets
$11.2M
$21.4M
$32.8M
$26.8M
Total assets
$796.4M
$864.6M
$1.1B
$1.2B
Accounts payable
$37.9M
$31.4M
$21.6M
$68.6M
Accrued price protection liability
$26.5M
$43.4M
$71.7M
$113.3M
Accrued expenses and other current liabilities
$72.4M
$87.4M
$98.5M
$100.2M
Accrued compensation
$49.2M
$20.1M
$30.4M
$59.1M
Total current liabilities
$186.0M
$182.3M
$222.1M
$341.1M
Long-term lease liabilities
$12.3M
$17.0M
$26.2M
$23.4M
Long-term debt
$123.6M
$123.0M
$122.4M
$121.8M
Other long-term liabilities
$22.6M
$26.1M
$23.2M
$17.4M
Total liabilities
$344.5M
$348.4M
$394.0M
$503.6M
Preferred stock, $0.0001 par value; 25,000 shares authorized, no shares issued or outstanding
0
0
0
0
Common stock, $0.0001 par value; 550,000 shares authorized; 86,451 shares issued and outstanding at December 31, 2025 and 84,613 shares issued and outstanding December 31, 2024
9.0K
8.0K
8.0K
8.0K
Additional paid-in capital
$951.3M
$886.8M
$808.6M
$722.8M
Accumulated other comprehensive income (loss)
$1.0M
($6.8M)
($3.8M)
($1.0M)
Accumulated deficit
($500.4M)
($363.7M)
($118.5M)
($45.4M)
Total stockholders’ equity
$451.9M
$516.3M
$686.3M
$676.4M
Total liabilities and stockholders’ equity
$796.4M
$864.6M
$1.1B
$1.2B
MaxLinear Inc. balance sheet, quarters
Line item
Sep 30, 2026
Jun 30, 2026
Mar 31, 2026
Sep 30, 2025
Cash and cash equivalents
$81.1M
$64.8M
$61.1M
$111.9M
Short-term restricted cash
$1.4M
$1.5M
$1.4M
$1.4M
Accounts receivable, net
$73.4M
$51.0M
$40.9M
$52.9M
Inventory
$113.7M
$105.5M
$85.8M
$86.3M
Prepaid expenses and other current assets
$121.6M
$75.8M
$60.3M
$31.6M
Total current assets
$391.2M
$298.7M
$249.4M
$284.1M
Long-term restricted cash
$27.4M
$27.4M
$27.4M
$24.0K
Property and equipment, net
$41.3M
$41.2M
$44.4M
$50.9M
Leased right-of-use assets
$18.1M
$19.7M
$21.9M
$14.6M
Intangible assets, net
$44.0M
$43.8M
$46.4M
$52.1M
Goodwill
$318.6M
$318.6M
$318.6M
$318.6M
Deferred tax assets
$65.4M
$62.4M
$52.1M
$74.8M
Other long-term assets
$10.4M
$10.8M
$11.0M
$13.1M
Total assets
$916.4M
$822.6M
$771.3M
$808.1M
Accounts payable
$36.5M
$40.4M
$32.9M
$31.4M
Accrued price protection liability
$30.4M
$31.2M
$27.5M
$33.8M
Accrued expenses and other current liabilities
$64.5M
$58.2M
$59.7M
$76.8M
Accrued compensation
$45.1M
$38.3M
$26.5M
$41.5M
Total current liabilities
$176.4M
$168.1M
$146.7M
$183.6M
Long-term lease liabilities
$13.8M
$15.5M
$18.0M
$12.1M
Long-term debt
$164.1M
$123.9M
$123.8M
$123.5M
Other long-term liabilities
$29.2M
$30.2M
$28.7M
$24.3M
Total liabilities
$383.4M
$337.7M
$317.1M
$343.4M
Preferred stock, $0.0001 par value; 25,000 shares authorized, no shares issued or outstanding
0
0
0
0
Common stock, $0.0001 par value; 550,000 shares authorized; 91,000 shares issued and outstanding at September 30, 2026 and 86,451 shares issued and outstanding at December 31, 2025
9.0K
9.0K
9.0K
9.0K
Additional paid-in capital
$1.0B
$1.0B
$999.6M
$950.1M
Accumulated other comprehensive income
$641.0K
$1.3M
$121.0K
$160.0K
Accumulated deficit
($514.9M)
($543.8M)
($545.5M)
($485.5M)
Total stockholders’ equity
$533.0M
$484.8M
$454.2M
$464.7M
Total liabilities and stockholders’ equity
$916.4M
$822.6M
$771.3M
$808.1M
Cash flow statement
MaxLinear Inc. cash flow statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Net loss
($136.7M)
($245.2M)
($73.1M)
$125.0M
Amortization and depreciation
$44.0M
$54.1M
$71.5M
$80.7M
Impairment losses
$0
$1.2M
$2.4M
$2.8M
Impairment of investments and other assets
$700.0K
$14.0M
—
—
Amortization of debt issuance costs and accretion of discounts
$1.9M
$2.5M
$2.6M
$2.0M
Stock-based compensation
$77.1M
$66.0M
$55.2M
$81.7M
Deferred income taxes
($8.6M)
$826.0K
($4.5M)
$23.5M
Loss on disposal of property and equipment
$1.2M
$1.1M
$2.1M
$170.0K
Gain on sale of investments
$0
$0
($434.0K)
($3.4M)
Unrealized holding loss on investments
$0
$0
$1.8M
$1.5M
Impairment of leased right-of-use assets
$427.0K
$5.6M
$0
$462.0K
Gain on settlement of pension
$0
$0
($1.0M)
—
Gain on extinguishment of lease liabilities
($521.0K)
($555.0K)
—
—
(Gain) loss on foreign currency and other
$6.2M
($1.3M)
$2.5M
($1.8M)
Excess tax (benefits) deficiencies on stock-based awards
$3.7M
$3.3M
($253.0K)
($9.9M)
Accounts receivable, net
$39.3M
$85.2M
$1.4M
($50.9M)
Inventory
$12.2M
$9.6M
$60.6M
($28.8M)
Prepaid expenses and other assets
($11.9M)
($1.9M)
($9.3M)
$1.8M
Accounts payable, accrued expenses and other current liabilities
($12.5M)
($4.6M)
($29.4M)
$65.8M
Accrued compensation
$34.8M
$919.0K
$9.7M
$42.0M
Accrued price protection liability
($16.9M)
($28.3M)
($41.6M)
$73.6M
Lease liabilities
($11.5M)
($10.7M)
($11.7M)
($11.4M)
Other long-term liabilities
($3.5M)
$2.9M
$4.9M
($6.0M)
Net cash provided by (used in) operating activities
$19.6M
($45.3M)
$43.4M
$388.7M
Purchases of property and equipment
($12.6M)
($17.7M)
($13.5M)
($41.3M)
Purchases of intangible assets
($7.2M)
($5.8M)
($6.4M)
($11.2M)
Cash used in acquisition, net of cash acquired
$0
$0
($13.3M)
—
Sale of trading securities
$0
$0
$17.2M
—
Net cash used in investing activities
($19.8M)
($23.4M)
($15.9M)
($91.8M)
Payment of debt issuance cost
$0
$0
($18.3M)
$0
Net proceeds from issuance of common stock
$3.6M
$4.1M
$4.6M
$5.0M
Minimum tax withholding paid on behalf of employees for restricted stock units
($2.2M)
($2.8M)
($12.6M)
($28.9M)
Repurchase of common stock
($20.0M)
$0
$0
($31.5M)
Net cash provided by (used in) financing activities
($18.7M)
$1.3M
($26.4M)
($240.4M)
Effect of exchange rate changes on cash and cash equivalents
$644.0K
($1.3M)
($1.1M)
$56.0K
Increase (decrease) in cash, cash equivalents and restricted cash
($18.2M)
($68.8M)
($1.0K)
$56.6M
Cash, cash equivalents and restricted cash at beginning of period
$119.6M
$188.4M
$188.4M
$131.7M
Cash, cash equivalents and restricted cash at end of period
$101.4M
$119.6M
$188.4M
$188.4M
Cash paid for interest
$8.6M
$9.7M
$9.5M
$9.1M
Cash paid for income taxes
$5.8M
$8.2M
$28.6M
$23.8M
Cash received for dividend income on investments
$0
$0
$716.0K
—
Issuance of shares for payment of bonuses
5.9M
11.0M
38.6M
38.8M
MaxLinear Inc. cash flow statement, quarters
Line item
Sep 30, 2026 · YTD
Jun 30, 2026 · YTD
Mar 31, 2026 · Q1
Sep 30, 2025 · YTD
Net loss
($14.5M)
($43.4M)
($45.1M)
($121.8M)
Amortization and depreciation
$27.0M
$18.1M
$10.9M
$33.2M
Amortization of debt issuance costs and accretion of discounts
$1.3M
$839.0K
$414.0K
$1.5M
Stock-based compensation
$67.3M
$47.5M
$20.0M
$57.5M
Deferred income taxes
$11.8M
$14.9M
$25.1M
($6.1M)
Loss on disposal of property and equipment
$690.0K
$200.0K
—
$1.2M
Reduction in the carrying amount of leased right-of-use assets
$5.3M
$3.6M
—
—
Impairment of leased right-of-use assets
$233.0K
$233.0K
$233.0K
$427.0K
Gain on extinguishment of lease liabilities
($325.0K)
($328.0K)
—
$0
Loss on foreign currency
$99.0K
$247.0K
($219.0K)
$5.7M
Excess tax (benefits) deficiencies on stock-based awards
($12.5M)
($10.6M)
$970.0K
$4.2M
Accounts receivable
($27.3M)
($4.9M)
$5.3M
$32.5M
Inventory
($35.6M)
($27.4M)
($7.7M)
$4.0M
Prepaid expenses and other assets
($68.2M)
($22.5M)
($7.7M)
$5.7M
Accounts payable, accrued expenses and other current liabilities
$3.9M
($709.0K)
($19.0M)
($15.5M)
Accrued compensation
$28.5M
$21.2M
$9.5M
$26.9M
Accrued price protection liability
$3.9M
$4.7M
$1.0M
($9.6M)
Lease liabilities
($8.0M)
($5.5M)
($2.7M)
($8.7M)
Other long-term liabilities
($1.4M)
($329.0K)
$111.0K
($1.9M)
Net cash provided by (used in) operating activities
($17.7M)
($4.1M)
($8.9M)
$9.2M
Purchases of property and equipment
($9.7M)
($3.7M)
($1.4M)
($8.9M)
Purchases of intangible assets
($5.4M)
($1.7M)
($855.0K)
($7.2M)
Funding of convertible notes receivable
($2.0M)
—
—
—
Net cash used in investing activities
($17.0M)
($7.4M)
($4.2M)
($16.1M)
Proceeds from borrowings under revolving credit facility
$60.0M
$20.0M
—
—
Repayment of borrowings under revolving credit facility
($20.0M)
($20.0M)
—
—
Payment of debt issuance costs
($479.0K)
($479.0K)
—
—
Proceeds from funding arrangement
$8.0M
$8.0M
$6.0M
—
Net proceeds from issuance of common stock, net of costs
$3.8M
$3.8M
$0
$2.2M
Minimum tax withholding paid on behalf of employees for restricted stock units
($7.5M)
($7.4M)
($3.7M)
($2.2M)
Net cash provided by (used in) financing activities
$43.8M
$3.9M
$2.3M
($46.0K)
Effect of exchange rate changes on cash and cash equivalents
($653.0K)
($117.0K)
($647.0K)
$602.0K
Increase (decrease) in cash, cash equivalents and restricted cash
$8.5M
($7.7M)
($11.5M)
($6.3M)
Cash, cash equivalents and restricted cash at beginning of period
$101.4M
$101.4M
$101.4M
$119.6M
Cash, cash equivalents and restricted cash at end of period