MXL · MaxLinear, Inc. Q2 FY2026 earnings call record财报电话会记录

“These forward-looking statements involve risks and uncertainties, including risks outlined in the risk factors section of our recent SEC filings, including our most recent annual report on Form 10-K and our Form 10-Q for the quarter ended June 30th, 2026, which we filed today.”

“In addition, with the favorable product mix shift towards our infrastructure business, we are now forecasting Q3 2026 non-GAAP gross margin to be 60% at the midpoint of our guidance range, as well as a substantial increase in our non-GAAP profitability.”

“Based on robust customer orders and rising visibility of program ramps, we are once again raising our expectations for 2026 optical data center revenue to be between $210 million-$230 million, with continued growth as run rates expand into 2027.”

“Keystone, our 100 Gb per lane, 5 nm CMOS PAM4 DSP and SerDes technology, continues to ramp into high volume production at major hyperscale customers across U.S.”

“We expect Rushmore, our 1.6 Tb optical PAM4 DSP at 200 Gb per lane speeds, to become an important optical connectivity growth driver beginning in 2027, which will layer on top of Keystone's successful ongoing ramp.”

“Moving to broadband and connectivity, both categories delivered revenue growth in Q2, driven by large scale deployments of our single chip fiber PON and Wi-Fi 7 gateway platforms at major Tier 1 service providers in North America and Europe.”

“The delta between GAAP and non-GAAP gross margin in the second quarter was primarily driven by $2.5 million of acquisition-related intangible asset amortization.”

“The delta between GAAP and non-GAAP operating expenses was primarily due to stock-based compensation and performance-based equity accruals of $36.5 million combined, and acquisition-related costs and other costs of $2.2 million.”

“We expect third quarter GAAP gross margin to be approximately 57%-60%, and non-GAAP gross margin to be in the range of 58.5% and 61.5% of revenue.”

“As we move later into 2027, our 1.6 Tb Rushmore will start to generate revenue and will drive growth beyond 2027-2028 and 2029.”

“We continue to see as more customers' qualifications get completed, move into production volumes, you're seeing those numbers go up, and I would expect that to continue into next year.”

“We have not seen much impact with our customers.”