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Guidance history, every release

Marvell Technology (MRVL) · 8 releases, Dec 3, 2024 to Aug 27, 2026 · rows are metrics, columns are releases

Raised · a change from the previous releaseSame · restated unchanged— · not stated in that releaseEvery value links to its sentence in the filing

Metric	Dec 3, 2024 FY25 Q3	Mar 5, 2025 FY25 Q4	May 6, 2025 FY26 Q1	Aug 28, 2025 FY26 Q2	Dec 2, 2025 FY26 Q3	Mar 5, 2026 FY26 Q4	May 27, 2026 FY27 Q1	Aug 27, 2026 FY27 Q2
For FY2027
Net revenue	—	—	—	—	—	—	—	New“$3.150 billion +/- 5%”
Net revenue	—	—	—	—	—	—	New“$2.700 billion +/- 5%”	—
Net revenue	—	—	—	—	—	New“$2.400 billion +/- 5%”	—	—
Non-GAAP net revenue	—	—	—	—	—	—	—	New“$3,150 +/- 5%”
Revenue	—	—	—	—	—	—	New“$2.7 billion at the mid-point, representing 35% year-over-year growth”	—
GAAP diluted net income per share	—	—	—	—	—	—	—	New“$0.53 +/- $0.05 per share”
GAAP diluted net income per share	—	—	—	—	—	—	New“$0.37 +/- $0.05 per share”	—
GAAP diluted net income per share	—	—	—	—	—	New“$0.31 +/- $0.05 per share”	—	—
GAAP gross margin	—	—	—	—	—	—	—	New“52.9% to 53.9%”
GAAP gross margin	—	—	—	—	—	—	New“52.1% to 53.1%”	—
GAAP gross margin	—	—	—	—	—	New“51.4% to 52.4%”	—	—
Non-GAAP diluted net income per share	—	—	—	—	—	—	—	New“$1.10 +/- $0.05 per share”
Non-GAAP diluted net income per share	—	—	—	—	—	—	New“$0.93 +/- $0.05 per share”	—
Non-GAAP diluted net income per share	—	—	—	—	—	New“$0.79 +/- $0.05 per share”	—	—
Non-GAAP gross margin	—	—	—	—	—	—	—	New“57.5% to 58.5%”
Non-GAAP gross margin	—	—	—	—	—	—	New“58.25% to 59.25%”	—
Non-GAAP gross margin	—	—	—	—	—	New“58.25% to 59.25%”	—	—
Basic weighted-average shares outstanding	—	—	—	—	—	—	—	New“900 million”
Basic weighted-average shares outstanding	—	—	—	—	—	—	New“899 million”	—
Basic weighted-average shares outstanding	—	—	—	—	—	New“876 million”	—	—
Diluted weighted-average shares outstanding	—	—	—	—	—	—	—	New“921 million”
Diluted weighted-average shares outstanding	—	—	—	—	—	—	New“915 million”	—
Diluted weighted-average shares outstanding	—	—	—	—	—	New“883 million”	—	—
GAAP operating expenses	—	—	—	—	—	—	—	New“approximately $1.015 billion”
GAAP operating expenses	—	—	—	—	—	—	New“approximately $960 million”	—
GAAP operating expenses	—	—	—	—	—	New“approximately $872 million”	—	—
Non-GAAP operating expenses	—	—	—	—	—	—	New“approximately $600 million”	—
Non-GAAP operating expenses	—	—	—	—	—	New“approximately $575 million”	—	—
Total GAAP operating expenses	—	—	—	—	—	—	—	New“~$1,015”
Total non-GAAP operating expenses	—	—	—	—	—	—	—	New“~$655”
For FY2026
Net revenue	—	—	—	—	New“$2.200 billion +/- 5%”	—	—	—
Net revenue	—	—	—	New“$2.060 billion +/- 5%”	—	—	—	—
Net revenue	—	New“$1.875 billion +/- 5%”	Reiterated“approximately $1.875 billion, within a range of +/- 2%”	—	—	—	—	—
Non-GAAP net revenue	—	—	—	—	New“$2,200 +/- 5%”	Raised“$2,400 +/- 5%”	Raised“$2,700 +/- 5%”	—
Revenue growth	—	—	—	—	New“forecasted to exceed 40%”	—	—	—
Revenue growth	—	New“over 60 percent year-over-year at the mid-point of guidance”	—	—	—	—	—	—
Revenue growth (year-over-year, at mid-point of)	—	New“over 60 percent”	—	—	—	—	—	—
GAAP diluted net income per share	—	—	—	—	New“$0.36 +/- $0.05”	Lowered“$0.31 +/- $0.05”	Raised“$0.37 +/- $0.05”	—
GAAP diluted net income per share	—	—	—	—	New“$0.36 +/- $0.05 per share”	—	—	—
GAAP diluted net income per share	—	—	—	New“$2.03 +/- $0.05 per share”	—	—	—	—
GAAP diluted net income per share	—	New“$0.19 +/- $0.05 per share”	—	—	—	—	—	—
GAAP gross margin	—	—	—	—	New“51.1% - 52.1%”	Raised“51.4% - 52.4%”	Raised“52.1% - 53.1%”	—
GAAP gross margin	—	—	—	—	New“51.1% to 52.1%”	—	—	—
GAAP gross margin	—	—	—	New“51.5% to 52.0%”	—	—	—	—
GAAP gross margin	—	New“approximately 50.5%”	—	—	—	—	—	—
Non-GAAP diluted net income per share	—	—	—	—	New“$0.79 +/- $0.05”	Reiterated“$0.79 +/- $0.05”	Raised“$0.93 +/- $0.05”	—
Non-GAAP diluted net income per share	—	—	—	—	New“$0.79 +/- $0.05 per share”	—	—	—
Non-GAAP diluted net income per share	—	—	—	New“$0.74 +/- $0.05 per share”	—	—	—	—
Non-GAAP diluted net income per share	—	New“$0.61 +/- $0.05 per share”	—	—	—	—	—	—
Non-GAAP gross margin	—	—	—	—	New“58.5% - 59.5%”	Lowered“58.25% - 59.25%”	Reiterated“58.25% - 59.25%”	—
Non-GAAP gross margin	—	—	—	—	New“58.5% to 59.5%”	—	—	—
Non-GAAP gross margin	—	—	—	New“59.5% to 60.0%”	—	—	—	—
Non-GAAP gross margin	—	New“approximately 60%”	—	—	—	—	—	—
Basic weighted-average shares outstanding	—	—	—	—	New“850 million”	—	—	—
Basic weighted-average shares outstanding	—	—	—	New“863 million”	—	—	—	—
Basic weighted-average shares outstanding	—	New“867 million”	—	—	—	—	—	—
Diluted weighted-average shares outstanding	—	—	—	—	New“857 million”	—	—	—
Diluted weighted-average shares outstanding	—	—	—	New“870 million”	—	—	—	—
Diluted weighted-average shares outstanding	—	New“880 million”	—	—	—	—	—	—
GAAP operating expenses	—	—	—	—	New“approximately $741 million”	—	—	—
GAAP operating expenses	—	—	—	New“approximately $719 million”	—	—	—	—
GAAP operating expenses	—	New“approximately $712 million”	—	—	—	—	—	—
Non-GAAP operating expenses	—	—	—	—	New“approximately $515 million”	—	—	—
Non-GAAP operating expenses	—	—	—	New“approximately $485 million”	—	—	—	—
Non-GAAP operating expenses	—	New“approximately $490 million”	—	—	—	—	—	—
Total GAAP operating expenses	—	—	—	—	New“~$741”	Raised“~$872”	Raised“~$960”	—
Total non-GAAP operating expenses	—	—	—	—	New“~$515”	Raised“~$575”	Raised“~$600”	—
For FY2025
Net revenue	New“$1.800 billion +/- 5%”	—	—	—	—	—	—	—
Non-GAAP net revenue	New“$1,800 +/- 5%”	Raised“$1,875 +/- 5%”	—	Raised“$2,060 +/- 5%”	—	—	—	—
Revenue growth	New“to accelerate significantly to 26%”	—	—	—	—	—	—	—
Sequential revenue growth (midpoint of)	New“19%”	—	—	—	—	—	—	—
Sequential revenue growth at the midpoint of	New“19%”	—	—	—	—	—	—	—
Year-over-year revenue growth	New“26%”	—	—	—	—	—	—	—
GAAP diluted net income per share	New“$0.16 +/- $0.05”	Raised“$0.19 +/- $0.05”	—	Changed“$2.03 +/- $0.05”	—	—	—	—
GAAP diluted net income per share	New“$0.16 +/- $0.05 per share”	—	—	—	—	—	—	—
GAAP gross margin	New“~ 50%”	Raised“~ 50.5%”	—	Raised“51.5% - 52.0%”	—	—	—	—
GAAP gross margin	New“approximately 50%”	—	—	—	—	—	—	—
Non-GAAP diluted net income per share	New“$0.59 +/- $0.05”	Raised“$0.61 +/- $0.05”	—	Raised“$0.74 +/- $0.05”	—	—	—	—
Non-GAAP diluted net income per share	New“$0.59 +/- $0.05 per share”	—	—	—	—	—	—	—
Non-GAAP gross margin	New“~ 60%”	Reiterated“~ 60%”	—	Lowered“59.5% - 60.0%”	—	—	—	—
Non-GAAP gross margin	New“approximately 60%”	—	—	—	—	—	—	—
Basic weighted-average shares outstanding	New“867 million”	—	—	—	—	—	—	—
Diluted weighted-average shares outstanding	New“877 million”	—	—	—	—	—	—	—
GAAP operating expenses	New“approximately $710 million”	—	—	—	—	—	—	—
Non-GAAP operating expenses	New“approximately $480 million”	—	—	—	—	—	—	—
Total GAAP operating expenses	New“~ $710”	Raised“~ $712”	—	Raised“~$719”	—	—	—	—
Total non-GAAP operating expenses	New“~ $480”	Raised“~ $490”	—	Lowered“~$485”	—	—	—	—

Values in quotation marks are the company’s words. Change labels compare each statement with the same metric and target year in the previous release. HighGravityData does not judge whether guidance was met.