Marvell Technology — Mar 5, 2025 release

Marvell has secured multiple new design wins, including several custom silicon programs that will fuel future growth. We are well positioned for a strong start to fiscal 2026. We expect first-quarter revenue growth of over 60 percent year-over-year at the mid-point of guidance, and we anticipate strong revenue growth for the full fiscal year.” First Quarter of Fiscal 2026 Financial Outlook   • Net revenue is expected to be $1.875 billion +/- 5%. • GAAP gross margin is expected to be approximately 50.5%. • Non-GAAP gross margin is expected to be approximately 60%. • GAAP operating expenses are expected to be approximately $712 million. • Non-GAAP operating expenses are expected to be approximately $490 million. • Basic weighted-average shares outstanding are expected to be 867 million. • Diluted weighted-average shares outstanding are expected to be 880 million. • GAAP diluted net income per share is expected to be $0.19 +/- $0.05 per share. • Non-GAAP diluted net income per share is expected to be $0.61 +/- $0.05 per share. GAAP diluted EPS is calculated using basic weighted-average shares outstanding when there is a GAAP net loss, and calculated using diluted weighted-average shares outstanding when there is a GAAP net income. Non-GAAP diluted EPS is calculated using diluted weighted-average shares outstanding. Conference Call Marvell will conduct a conference call on Wednesday, March 5, 2025 at 1:45 p.m. Pac