MaxLinear, Inc. reported a net revenue of $108.8 million for the three months ended June 30, 2025, marking an increase of 18% from $92.0 million in the same period last year. For the six months ended June 30, 2025, the company achieved a total revenue of $204.7 million, up 9% from $187.3 million in the prior year. The increase in revenue was primarily driven by heightened demand in the broadband and connectivity markets, particularly in broadband system-on-chip (SoC) and cable data shipments. Gross profit for the second quarter was $61.5 million, representing a gross margin of 57%, compared to 55% in the same quarter of 2024.
In terms of operational changes, MaxLinear incurred $13.5 million in restructuring costs during the first half of 2025, which included $6.4 million related to ceased CAD tool licenses and $6.2 million in severance expenses. The company has also terminated its merger agreement with Silicon Motion Technology Corporation, which was initially set to enhance its product offerings in NAND flash controllers. The termination was due to unmet conditions and alleged breaches by Silicon Motion, leading to ongoing arbitration proceedings initiated by Silicon Motion against MaxLinear.
The company’s customer base remains concentrated, with two customers accounting for 31% of net revenue in the first half of 2025. Additionally, sales through distributors represented 33% of total revenue during this period. Geographically, 79% of net revenue was derived from Asia, with significant contributions from Hong Kong and Vietnam. MaxLinear continues to monitor geopolitical tensions and trade policies, particularly between the U.S. and China, which could impact its supply chain and customer demand.
Looking ahead, MaxLinear anticipates fluctuations in revenue due to the cyclical nature of the semiconductor industry and ongoing macroeconomic conditions. The company is focused on developing new products and expanding into new markets while managing operational costs. As of June 30, 2025, MaxLinear had cash and cash equivalents of $108.6 million and total indebtedness of $125 million, with a revolving credit facility of up to $100 million remaining undrawn. The company believes its current cash position will be sufficient to meet its operational needs for at least the next twelve months.
About MAXLINEAR, INC
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