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Side-by-side financial comparison of H2O AMERICA (HTO) and MAXLINEAR, INC (MXL). Click either name above to swap in a different company.
H2O AMERICA is the larger business by last-quarter revenue ($199.4M vs $137.2M, roughly 1.5× MAXLINEAR, INC). H2O AMERICA runs the higher net margin — 8.1% vs -32.9%, a 41.0% gap on every dollar of revenue. On growth, MAXLINEAR, INC posted the faster year-over-year revenue change (43.0% vs 1.5%). Over the past eight quarters, MAXLINEAR, INC's revenue compounded faster (22.1% CAGR vs 15.3%).
H2O Wireless is a United States-based prepaid cell phone service, that utilizes the AT&T network. It is a brand of the mobile virtual network operator (MVNO) Locus Telecommunications, a subsidiary of Telrite Holdings, Inc., since 2019. Locus was formerly a subsidiary of KDDI America corporation, starting in 2010. H2O Wireless is primarily advertised as a non-restrictive phone service for customers to bring or buy unlocked smartphones, although AT&T contract/locked phones may be accepted as well.
MaxLinear, Inc. is an American electronic hardware company. Founded in 2003, it provides highly integrated radio-frequency (RF) analog and mixed-signal semiconductor products for broadband communications applications. It is a New York Stock Exchange-traded company.
HTO vs MXL — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $199.4M | $137.2M |
| Net Profit | $16.2M | $-45.1M |
| Gross Margin | — | 57.5% |
| Operating Margin | 16.6% | 30.0% |
| Net Margin | 8.1% | -32.9% |
| Revenue YoY | 1.5% | 43.0% |
| Net Profit YoY | -29.2% | -203.0% |
| EPS (diluted) | $0.45 | $-0.52 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | — | $137.2M | ||
| Q4 25 | $199.4M | $136.4M | ||
| Q3 25 | $243.5M | $126.5M | ||
| Q2 25 | $197.8M | $108.8M | ||
| Q1 25 | $164.9M | $95.9M | ||
| Q4 24 | $196.5M | $92.2M | ||
| Q3 24 | $216.7M | $81.1M | ||
| Q2 24 | $173.1M | $92.0M |
| Q1 26 | — | $-45.1M | ||
| Q4 25 | $16.2M | $-14.9M | ||
| Q3 25 | $45.1M | $-45.5M | ||
| Q2 25 | $24.7M | $-26.6M | ||
| Q1 25 | $16.6M | $-49.7M | ||
| Q4 24 | $22.9M | $-57.8M | ||
| Q3 24 | $38.7M | $-75.8M | ||
| Q2 24 | $20.7M | $-39.3M |
| Q1 26 | — | 57.5% | ||
| Q4 25 | — | 57.6% | ||
| Q3 25 | — | 56.9% | ||
| Q2 25 | — | 56.5% | ||
| Q1 25 | — | 56.1% | ||
| Q4 24 | — | 55.6% | ||
| Q3 24 | — | 54.4% | ||
| Q2 24 | — | 54.6% |
| Q1 26 | — | 30.0% | ||
| Q4 25 | 16.6% | -10.9% | ||
| Q3 25 | 26.5% | -32.7% | ||
| Q2 25 | 22.2% | -22.6% | ||
| Q1 25 | 21.8% | -48.0% | ||
| Q4 24 | 22.2% | -44.7% | ||
| Q3 24 | 26.9% | -82.3% | ||
| Q2 24 | 23.4% | -44.4% |
| Q1 26 | — | -32.9% | ||
| Q4 25 | 8.1% | -10.9% | ||
| Q3 25 | 18.5% | -36.0% | ||
| Q2 25 | 12.5% | -24.4% | ||
| Q1 25 | 10.0% | -51.8% | ||
| Q4 24 | 11.7% | -62.8% | ||
| Q3 24 | 17.8% | -93.4% | ||
| Q2 24 | 12.0% | -42.7% |
| Q1 26 | — | $-0.52 | ||
| Q4 25 | $0.45 | $-0.17 | ||
| Q3 25 | $1.27 | $-0.52 | ||
| Q2 25 | $0.71 | $-0.31 | ||
| Q1 25 | $0.49 | $-0.58 | ||
| Q4 24 | $0.70 | $-0.68 | ||
| Q3 24 | $1.17 | $-0.90 | ||
| Q2 24 | $0.64 | $-0.47 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $20.7M | $61.1M |
| Total DebtLower is stronger | $1.9B | $123.8M |
| Stockholders' EquityBook value | $1.5B | $454.2M |
| Total Assets | $5.1B | $771.3M |
| Debt / EquityLower = less leverage | 1.23× | 0.27× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $61.1M | ||
| Q4 25 | $20.7M | $72.8M | ||
| Q3 25 | $11.3M | $111.9M | ||
| Q2 25 | $19.8M | $108.6M | ||
| Q1 25 | $23.7M | $102.8M | ||
| Q4 24 | $11.1M | $118.6M | ||
| Q3 24 | $4.0M | $148.5M | ||
| Q2 24 | $22.8M | $185.1M |
| Q1 26 | — | $123.8M | ||
| Q4 25 | $1.9B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $1.7B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | $454.2M | ||
| Q4 25 | $1.5B | $451.9M | ||
| Q3 25 | $1.5B | $464.7M | ||
| Q2 25 | $1.5B | $488.3M | ||
| Q1 25 | $1.4B | $493.2M | ||
| Q4 24 | $1.4B | $516.3M | ||
| Q3 24 | $1.3B | $556.9M | ||
| Q2 24 | $1.3B | $617.3M |
| Q1 26 | — | $771.3M | ||
| Q4 25 | $5.1B | $796.4M | ||
| Q3 25 | $5.0B | $808.1M | ||
| Q2 25 | $4.8B | $863.7M | ||
| Q1 25 | $4.7B | $855.3M | ||
| Q4 24 | $4.7B | $864.6M | ||
| Q3 24 | $4.6B | $895.3M | ||
| Q2 24 | $4.4B | $973.2M |
| Q1 26 | — | 0.27× | ||
| Q4 25 | 1.23× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.26× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $63.5M | — |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 3.92× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $63.5M | $10.4M | ||
| Q3 25 | $77.3M | $10.1M | ||
| Q2 25 | $60.8M | $10.5M | ||
| Q1 25 | $43.2M | $-11.4M | ||
| Q4 24 | $41.5M | $-27.8M | ||
| Q3 24 | $53.5M | $-30.7M | ||
| Q2 24 | $49.3M | $-2.7M |
| Q1 26 | — | — | ||
| Q4 25 | — | $6.7M | ||
| Q3 25 | — | $4.4M | ||
| Q2 25 | — | $9.3M | ||
| Q1 25 | — | $-13.4M | ||
| Q4 24 | — | $-30.0M | ||
| Q3 24 | — | $-34.9M | ||
| Q2 24 | — | $-5.7M |
| Q1 26 | — | — | ||
| Q4 25 | — | 4.9% | ||
| Q3 25 | — | 3.5% | ||
| Q2 25 | — | 8.6% | ||
| Q1 25 | — | -14.0% | ||
| Q4 24 | — | -32.6% | ||
| Q3 24 | — | -43.0% | ||
| Q2 24 | — | -6.2% |
| Q1 26 | — | — | ||
| Q4 25 | — | 2.7% | ||
| Q3 25 | — | 4.5% | ||
| Q2 25 | — | 1.1% | ||
| Q1 25 | — | 2.1% | ||
| Q4 24 | — | 2.4% | ||
| Q3 24 | — | 5.1% | ||
| Q2 24 | — | 3.3% |
| Q1 26 | — | — | ||
| Q4 25 | 3.92× | — | ||
| Q3 25 | 1.71× | — | ||
| Q2 25 | 2.47× | — | ||
| Q1 25 | 2.61× | — | ||
| Q4 24 | 1.81× | — | ||
| Q3 24 | 1.39× | — | ||
| Q2 24 | 2.38× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
HTO
| Water Utility Services | $191.0M | 96% |
| Other | $8.4M | 4% |
MXL
Segment breakdown not available.
