HighGravityDataMarvell Technology — Dec 3, 2024 release
Fiscal 2025 third-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0001835632-24-000197
Showing in the filing
Non-GAAP gross margin
“~ 60%”
Period
FY2025
Measure
Company-defined measure
Source
Guidance table
All guidance in this release · 20
Sequential revenue growth (midpoint of) for Q4 FY2025
“19%”
Sequential revenue growth at the midpoint of for Q4 FY2025
“19%”
Revenue growth for Q4 FY2025
“to accelerate significantly to 26%”
Year-over-year revenue growth for Q4 FY2025
“26%”
Net revenue for Q4 FY2025
“$1.800 billion +/- 5%”
GAAP gross margin for Q4 FY2025
“approximately 50%”
Non-GAAP gross margin for Q4 FY2025
“approximately 60%”
GAAP operating expenses for Q4 FY2025
“approximately $710 million”
Non-GAAP operating expenses for Q4 FY2025
“approximately $480 million”
Basic weighted-average shares outstanding for Q4 FY2025
“867 million”
Diluted weighted-average shares outstanding for Q4 FY2025
“877 million”
GAAP diluted net income per share for Q4 FY2025
“$0.16 +/- $0.05 per share”
Non-GAAP diluted net income per share for Q4 FY2025
“$0.59 +/- $0.05 per share”
Non-GAAP net revenue for FY2025
“$1,800 +/- 5%”
GAAP gross margin for FY2025
“~ 50%”
Non-GAAP gross margin for FY2025
“~ 60%”
Total GAAP operating expenses for FY2025
“~ $710”
Total non-GAAP operating expenses for FY2025
“~ $480”
GAAP diluted net income per share for FY2025
“$0.16 +/- $0.05”
Non-GAAP diluted net income per share for FY2025
“$0.59 +/- $0.05”
Exhibit 99.1 · the passage around this item
… earlier in the release
Outlook for the Fourth Quarter of Fiscal Year 2025 Reconciliations from GAAP to Non-GAAP (Unaudited) (In millions, except per share amounts) Outlook for Three Months Ended February 1, 2025 GAAP net revenue $1,800 +/- 5% Special items: — Non-GAAP net revenue $1,800 +/- 5% GAAP gross margin ~ 50% Special items: Stock-based compensation 0.7% Amortization of acquired intangible assets 9.3% Non-GAAP gross margin ~ 60% Total GAAP operating expenses ~ $710 Special items: Stock-based compensation 142 Amortization of acquired intangible assets 78 Restructuring related charges and other 10 Total non-GAAP operating expenses ~ $480 GAAP diluted net income per share $0.16 +/- $0.05 Special items: Stock-based compensation 0.18 Amortization of acquired intangible assets 0.28 Restructuring related charges and other 0.01 Other income tax effects and adjustments (0.04) Non-GAAP diluted net income per share $0.59 +/- $0.05 Quarterly Revenue Trend (Unaudited) Our product solutions serve five large end markets where our technology is essential: (i) data center, (ii) enterprise networking, (iii) carrier infrastructure, (iv) consumer, and (v) automotive/industrial. These markets and their corresponding customer products and applications are noted in the table below: End market Customer products and applications Data center • Cloud and on-premise Artificial intelligence (AI) systems • Cloud and on-premise ethernet switching • Cloud and on-premise network-attached storage (NAS) • Cloud and on-premise AI servers • Cloud and on-premise general-purpose servers • Cloud and on-premise storage area networks • Cloud and
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.