HighGravityDataMarvell Technology — May 27, 2026 release
Fiscal 2027 first-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0001835632-26-000014
Showing in the filing
Non-GAAP operating expenses
“approximately $600 million”
Period
Q2 FY2027
Measure
Company-defined measure
Source
Prose
All guidance in this release · 17
Revenue for Q2 FY2027
“$2.7 billion at the mid-point, representing 35% year-over-year growth”
Net revenue for Q2 FY2027
“$2.700 billion +/- 5%”
GAAP gross margin for Q2 FY2027
“52.1% to 53.1%”
Non-GAAP gross margin for Q2 FY2027
“58.25% to 59.25%”
GAAP operating expenses for Q2 FY2027
“approximately $960 million”
Non-GAAP operating expenses for Q2 FY2027
“approximately $600 million”
Basic weighted-average shares outstanding for Q2 FY2027
“899 million”
Diluted weighted-average shares outstanding for Q2 FY2027
“915 million”
GAAP diluted net income per share for Q2 FY2027
“$0.37 +/- $0.05 per share”
Non-GAAP diluted net income per share for Q2 FY2027
“$0.93 +/- $0.05 per share”
Non-GAAP net revenue for FY2026
“$2,700 +/- 5%”
GAAP gross margin for FY2026
“52.1% - 53.1%”
Non-GAAP gross margin for FY2026
“58.25% - 59.25%”
Total GAAP operating expenses for FY2026
“~$960”
Total non-GAAP operating expenses for FY2026
“~$600”
GAAP diluted net income per share for FY2026
“$0.37 +/- $0.05”
Non-GAAP diluted net income per share for FY2026
“$0.93 +/- $0.05”
Exhibit 99.1 · the passage around this item
… earlier in the release
• GAAP gross margin is expected to be 52.1% to 53.1%. • Non-GAAP gross margin is expected to be 58.25% to 59.25%. • GAAP operating expenses are expected to be approximately $960 million. • Non-GAAP operating expenses are expected to be approximately $600 million. • Basic weighted-average shares outstanding are expected to be 899 million. • Diluted weighted-average shares outstanding are expected to be 915 million. • GAAP diluted net income per share is expected to be $0.37 +/- $0.05 per share. • Non-GAAP diluted net income per share is expected to be $0.93 +/- $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. The Company calculated EPS under the two-class method as a result of the issuance of the Series A Convertible Preferred Stock on March 31, 2026. Conference Call Marvell will conduct a conference call on Wednesday, May 27, 2026 at 1:45 p.m. Pacific Time to discuss results for the first quarter of fiscal year 2027. The call will be webcast and can be accessed at the Marvell Investor Relations website at http://investor.marvell.com/. Interested parties may also join the live conference call via telephone by using the ‘Call me TM ’ link provided in the press release on May 4, 2026,
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.