Elgato just ran the biggest overhaul of its audio line since the original Wave arrived in 2020. The new platform is called Wave Next, and it covers both a refreshed hardware lineup and a rebuilt version of the company mixing software that is now free for everyone.
If you have been eyeing an Elgato mic or interface, the products you remember have changed. Most of the launch is aimed at streamers, but two pieces genuinely matter for podcasting. Here is what Wave Next is, what is in it, and which parts are worth your money.
1. One XLR dynamic and a laptop? Get the Elgato Wave XLR MK.2. 80dB of gain drives a Shure SM7B or RODE PodMic with no Cloudlifter, and the onboard Wave FX Processor cleans the signal before it reaches your computer.
2. Treated room, want one cable and no interface? Get the Elgato Wave:3 MK.2. The condenser is detailed and the DSP runs on the mic, but it hears your room.
3. Just want better routing? Download Wave Link 3.0. It is free on Windows and macOS, gives you five submixes, and works with the mic and interface you already own.
4. Two mics or a dual-PC rig? Wait for the Wave XLR Pro in Q2 2026. Two XLR inputs, a latency-free hardware mixer and VST inserts on the hardware, about $349.99.
Bottom line: the Wave XLR MK.2 is the one piece of Wave Next most podcasters should buy; the free Wave Link 3.0 is worth installing either way.
- Best for podcasters / XLR dynamics: Elgato Wave XLR MK.2 (about $169.99)
- Best plug-and-play USB mic: Elgato Wave:3 MK.2 (about $169.99)
- Best free upgrade: Wave Link 3.0
- Best for multi-mic setups: Elgato Wave XLR Pro (about $349.99, Q2 2026)
Full Breakdown
Only two Wave Next products are both shipping now and relevant to a podcast setup. Here is where each one lands, followed by how the three interfaces compare.
- 80dB of gain drives an SM7B or PodMic with no Cloudlifter
- Onboard Wave FX Processor handles cleanup in real time
- Clipguard protects takes from clipping automatically
- Compact desk footprint with a capacitive mute control
- Works with the free Wave Link 3.0 mixer
- One XLR input only
- Dual-mic setups need the Pro model
- Software ecosystem is easiest on Windows
- Plug-and-play USB, no interface needed
- Wave FX Processor runs effects on the mic itself
- Clipguard 2.0 and auto gain reduce setup fuss
- Real-time level readout and tap-to-mute on the body
- Condenser capsule picks up room echo and keyboard noise
- Needs a treated space to sound its best
- Dynamic mics still win for untreated rooms
How the three interfaces compare
| Model | Type | Price | Key spec | Availability |
|---|---|---|---|---|
| Wave XLR MK.2 | XLR-to-USB interface | About $169.99 | 80dB gain, Wave FX Processor | Shipping now |
| Wave:3 MK.2 | USB condenser mic | About $169.99 | Onboard DSP, Clipguard 2.0 | Shipping now |
| Wave XLR Pro | Dual-XLR interface | About $349.99 | Two inputs, hardware mixer, VST inserts | Q2 2026 |
What is Wave Next?
Wave Next is Elgato attempt to unify its creator audio hardware and software under one platform. At the center sits Wave Link 3.0, a redesigned version of the mixing app, and the headline is that it is now free on both Windows and macOS. It also works with most microphones, mixers and interfaces rather than only Elgato gear.
The app builds up to five independent submixes, so voice, music, chat and system audio can each go to a different destination for recording, streaming or a call. Around that software sits a refreshed hardware line with onboard DSP built into the devices themselves.
The Wave Next lineup
- Wave Link 3.0 – the free mixing software at the center of the ecosystem, with up to five submixes and broad third-party device support.
- Wave:3 MK.2 (about $169.99) – the updated flagship USB condenser, now with the onboard Wave FX Processor, real-time levels and tap-to-mute.
- Wave XLR MK.2 (about $169.99) – the compact XLR-to-USB interface, upgraded to 80dB of gain and the same onboard Wave FX Processor. The most podcast-relevant piece of the launch.
- XLR Dock MK.2 – the docking and expansion companion for the XLR interface.
- Wave XLR Pro (about $349.99, Q2 2026) – two XLR inputs, a latency-free hardware mixer, five DSP effects and VST inserts running on the hardware.
- Stream Deck + XL – a larger Stream Deck that maps the audio controls to physical buttons.
Everything above ships now with one exception: the Wave XLR Pro launches in Q2 2026.
Why the Wave FX Processor matters
The thread running through the new hardware is the Wave FX Processor, an onboard audio engine developed with LEWITT Audio. It runs Clipguard clip protection, DSP effects and even VST plugins directly on the device, so the processing happens in hardware instead of taxing your computer.
For podcasters the practical upside is real-time cleanup of noise, clipping and tone without building an editing plugin chain, and the same processing applies whether you are recording locally or sitting on a call. That is a meaningful time saver if your editing routine currently starts with fixing levels.
What Wave Next means for podcasters
Two things stand out. First, the Wave XLR MK.2 is now a serious single-mic interface. With 80dB of gain it drives a Shure SM7B or a RODE PodMic without a Cloudlifter, and the onboard processing cuts down on post work. If you own one great XLR mic and want it in your laptop cleanly, it belongs on the shortlist alongside the options in our best XLR-to-USB interface roundup and the head-to-head with Shure in Wave XLR MK.2 vs Shure MVX2U Gen 2.
Second, Wave Link 3.0 being free changes the calculation for people who own no Elgato hardware at all. A five-submix routing tool that works with your existing interface is useful on its own, particularly for remote interviews where you want the guest feed, your voice and music kept separate.
The Wave:3 MK.2 is the piece that needs a caveat. It is a good USB condenser, but condensers pick up far more room reflection than dynamics do. In an untreated space a dynamic mic through the Wave XLR MK.2 will sound cleaner. If you are weighing the two capsule types, our guide to dynamic vs condenser mics for podcasting walks through the tradeoff.
Should you buy in?
- You own an XLR dynamic and need a clean interface: the Wave XLR MK.2 is an easy recommendation.
- You want plug-and-play USB and record in a decent room: the Wave:3 MK.2 is worth a look, and worth comparing against the Shure MV7+.
- You run a dual-PC or multi-source setup: wait for the Wave XLR Pro in Q2 2026.
- You just want a better mixer: download Wave Link 3.0 and spend nothing.
Frequently Asked Questions
Is Wave Link 3.0 really free?
Yes. Elgato made Wave Link 3.0 free on Windows and macOS, and it works with most microphones, mixers and audio interfaces rather than only Elgato hardware.
Do I need Elgato hardware to use Wave Link 3.0?
No. The software runs with most existing mics and interfaces, so you can use the five-submix routing without buying anything.
Will the Wave XLR MK.2 power a Shure SM7B without a Cloudlifter?
Yes. Its 80dB of gain is more than enough to drive an SM7B cleanly, with no inline booster required.
What is the difference between the Wave XLR MK.2 and the Wave XLR Pro?
The MK.2 is a single-XLR-input interface for one mic at about $169.99 and it ships now. The Pro, at about $349.99 in Q2 2026, adds a second XLR input, a latency-free hardware mixer and more onboard effects and VST inserts for multi-source setups.
Is the Wave:3 MK.2 good for podcasting?
It is a solid USB condenser, but condensers expose room echo. In an untreated room a dynamic mic through the Wave XLR MK.2 will sound cleaner. Choose the Wave:3 MK.2 if your space is treated.