Marvell Technology — Dec 2, 2025 release

 Outlook for the Fourth Quarter of Fiscal Year 2026 Reconciliations from GAAP to Non-GAAP (Unaudited)  (In millions, except per share amounts) Outlook for Three Months Ended January 31, 2026 GAAP net revenue $2,200 +/- 5% Special items: — Non-GAAP net revenue $2,200 +/- 5% GAAP gross margin 51.1% - 52.1% Special items: Stock-based compensation 0.6% Amortization of acquired intangible assets 6.8% Non-GAAP gross margin 58.5% - 59.5% Total GAAP operating expenses ~$741 Special items: Stock-based compensation 140 Amortization of acquired intangible assets 75 Restructuring related charges and other 11 Total non-GAAP operating expenses ~$515 GAAP diluted net income per share  $0.36 +/- $0.05 Special items: Stock-based compensation 0.18 Amortization of acquired intangible assets 0.26 Restructuring related charges and other 0.01 Other income tax effects and adjustments (0.02) Non-GAAP diluted net income per share $0.79 +/- $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 on-premise storage systems • Data center interconnect (DCI) Enterprise networking • Campus and small medium enterprise routers • Campus and small medium enterprise ethernet switches • Campus and small medium en