Core Viewpoint - Marvell Technology's stock dropped 14.9% after the release of its Q4 fiscal year 2025 earnings report, despite revenue and earnings being in line with Wall Street estimates, primarily due to investor disappointment regarding guidance [1][2]. Financial Performance - Q4 fiscal year 2025 revenue was $1.82 billion, a 27% increase from $1.43 billion in Q4 fiscal year 2024 [3]. - GAAP operating income improved from a loss of $33.3 million to a profit of $235.2 million [3]. - GAAP net income flipped from a loss of $392.7 million to a profit of $200.2 million [3]. - Adjusted net income rose by 32% from $401.6 million to $531.4 million [3]. - GAAP earnings per share (EPS) changed from a loss of $0.45 to a profit of $0.23, while adjusted EPS increased by 30% from $0.46 to $0.60 [3]. Market Performance - The data center segment generated $1.37 billion in revenue, reflecting a 78% year-over-year increase, driven by strong demand for AI-related products [6][10]. - Other segments like enterprise networking and carrier infrastructure saw declines of 35% and 38% year-over-year, but experienced sequential growth of 14% and 25%, respectively [7]. - The automotive/industrial segment grew by 4% year-over-year and 3% sequentially, while the consumer segment continued to decline [8]. Management Commentary - CEO Matt Murphy highlighted strong growth in the data center market and a recovery in multi-market businesses, with custom AI silicon programs entering volume production [10][11]. - The company anticipates first-quarter revenue growth of over 60% year-over-year for fiscal year 2026 [11]. Guidance - For Q1 fiscal year 2026, Marvell expects adjusted EPS between $0.56 and $0.66, with revenue projected at $1.87 billion, aligning with analyst consensus estimates [12][15]. - The company’s outlook reflects cautious optimism amid volatile geopolitical and macroeconomic conditions [13]. Investment Outlook - Marvell's stock is recommended for growth investors, with robust demand expected from the data center market as tech companies expand infrastructure for AI capabilities [14].

Core Viewpoint - Marvell Technology Inc. reported revenue forecasts that fell short of the highest expectations, leading to a 16% drop in stock price after the announcement, disappointing investors hoping for greater returns from the AI boom [1][4]. Group 1: Financial Performance - For the first fiscal quarter ending in April, Marvell expects sales of approximately $1.88 billion, aligning with analyst averages but below some forecasts of $2 billion [1]. - The company reported a fourth-quarter earnings per share of $0.60, exceeding the analyst expectation of $0.59, with revenue growth of 27% to $1.82 billion, surpassing the $1.8 billion forecast [5]. - Marvell's data center revenue accounted for 75% of total quarterly revenue, with a 78% year-over-year increase in the data center segment, reaching $1.37 billion [3][4]. Group 2: Market Position and Strategy - Marvell is positioned as a key beneficiary of AI computing developments, providing chip design services to major tech clients, including Amazon, to help them develop their own data center semiconductors [2]. - The company emphasizes focusing investments on data centers to capitalize on the AI trend, with expectations of strong revenue growth for the fiscal year [4]. Group 3: Analyst Insights - Analysts from Raymond James and Stifel Financial Corp. expressed cautious optimism regarding Marvell's stock, with expectations for the custom AI accelerator market to exceed $50 billion by 2028, indicating potential for Marvell to capture significant market share [3]. - Despite good earnings data, concerns remain about geopolitical pressures and broader worries regarding the monetization of AI, which may have contributed to the stock's decline [4].

Financial Data and Key Metrics Changes - Marvell reported record revenue of $1.817 billion for Q4 2025, growing 20% sequentially and 27% year-over-year [6][38] - For the full fiscal year 2025, total revenue reached $5.767 billion, with data center revenue growing 88% year-over-year [8][35] - Non-GAAP earnings per share for Q4 was $0.60, reflecting a 40% sequential growth [7][40] - GAAP gross margin for Q4 was 50.5%, while non-GAAP gross margin was 60.1% [38] Business Line Data and Key Metrics Changes - Data center revenue for Q4 was $1.37 billion, growing 78% year-over-year and 24% sequentially [10] - Enterprise networking revenue was $171 million, and carrier infrastructure revenue totaled $106 million, collectively growing 18% sequentially [25] - Consumer end market revenue declined 8% sequentially to $89 million, with expectations of a 35% decline in Q1 2026 [26] - Automotive and industrial revenue was $86 million, growing 3% sequentially, with expectations of a decline in Q1 2026 [27] Market Data and Key Metrics Changes - Data center accounted for 75% of consolidated revenue in Q4 2025 [31] - The company anticipates continued strong demand in the cloud and AI segments, driving sequential double-digit revenue growth [24] - The consumer market is expected to stabilize around $300 million annually over the next several years [26] Company Strategy and Development Direction - Marvell is focusing investments on data center markets to capitalize on AI opportunities, restructuring its organizational structure to enhance this focus [31][32] - The company is engaged in custom silicon programs, with significant momentum in AI and cloud infrastructure [20][21] - Marvell aims to achieve long-term non-GAAP operating margin targets of 38% to 40% while driving strong cash flow [50] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about robust year-over-year revenue growth in fiscal 2026, forecasting over 60% growth in Q1 2026 [9][10] - The company noted strong investment and infrastructure acceleration from hyperscalers, indicating a positive outlook for the AI super cycle [33] - Management highlighted the importance of high-speed networking and AI data centers, aligning with Marvell's strengths [13][14] Other Important Information - Marvell achieved a record $1.68 billion in operating cash flow and returned $933 million to shareholders through dividends and buybacks [9][37] - The company received an upgrade to its investment-grade credit rating from Fitch, reflecting strong operating momentum and improved leverage metrics [44] Q&A Session Summary Question: Concerns about competition for sockets - Management acknowledged the competitive landscape but emphasized confidence in the ramp of their current lead XPU program and future growth [53][56] Question: Breakdown of AI and non-AI revenue - Management clarified that AI now constitutes more than half of data center revenue, with strong growth expected [60][64] Question: Stickiness of custom ASIC customers - Management indicated that custom engagements with major hyperscalers are complex and sticky, with high barriers to entry [82][89] Question: Inventory growth and future guidance - Management explained that inventory growth supports ongoing custom programs and strong optics demand, with a flat quarter-over-quarter inventory on a day basis [127][132] Question: Risks of spending deceleration - Management expressed confidence in the visibility of growth, citing strong demand and new programs in the custom area [136][142]

For the quarter ended January 2025, Marvell Technology (MRVL) reported revenue of $1.82 billion, up 27.4% over the same period last year. EPS came in at $0.60, compared to $0.46 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $1.8 billion, representing a surprise of +0.73%. The company delivered an EPS surprise of +1.69%, with the consensus EPS estimate being $0.59.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall S ...

Marvell Technology (MRVL) came out with quarterly earnings of $0.60 per share, beating the Zacks Consensus Estimate of $0.59 per share. This compares to earnings of $0.46 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 1.69%. A quarter ago, it was expected that this chipmaker would post earnings of $0.40 per share when it actually produced earnings of $0.43, delivering a surprise of 7.50%.Over the last four quarters, the compa ...

Core Insights - Marvell Technology reported Q4 2025 earnings and revenue that exceeded analysts' expectations, driven by strong data center growth [2][4] - The company achieved an adjusted EPS of $0.60 and revenue of $1.82 billion, reflecting a year-over-year revenue increase of 27.4% [2][4] Financial Performance - Adjusted EPS was $0.60, surpassing the estimate of $0.59, and up 30.4% from $0.46 in Q4 FY2024 [4] - Revenue reached $1.82 billion, exceeding the expected $1.8 billion and up from $1.43 billion in Q4 FY2024 [4] - Gross margin was 60.1%, down 3.8 percentage points from 63.9% in the previous year [4][8] - Net income was $200.2 million, a significant recovery from a loss of $392.7 million in the same quarter last year [4] - Cash flow from operations was $514 million, a decrease of 6% from $546.6 million in Q4 FY2024 [4] Business Overview - Marvell Technology specializes in semiconductor solutions for data infrastructure, focusing on data centers, enterprise networking, and carrier infrastructure [5] - The company emphasizes technological innovation, particularly in System-on-a-Chip (SoC) solutions and custom silicon [5] Strategic Focus - Marvell is concentrating on data center operations, particularly through custom AI silicon technology, to capitalize on the growing demand for AI-enabled data solutions [6] - The company is investing in advanced technologies such as 5nm and 3nm process technology to enhance its semiconductor offerings [6] Segment Performance - Data center revenue surged to $1.37 billion, accounting for 75% of total Q4 revenue, driven by demand for custom AI silicon and interconnect products [7] - Despite strong growth in the data center segment, high custom silicon volumes slightly impacted gross margins [8] Future Outlook - Management anticipates Q1 fiscal 2026 revenue to reach $1.875 billion, reflecting over 60% year-over-year growth [11] - Expected GAAP gross margins are around 50.5%, with adjusted margins at approximately 60%, indicating effective margin management [12] - The company remains optimistic about future growth, driven by innovative custom silicon programs and sustained demand from cloud customers [12]

Marvell Technology, Inc. Fourth Quarter and Fiscal Year 2025 March 5, 2025 Discussion of Non-GAAP Financial Measures © 2024 Marvell confidential. All rights reserved. 2 Discussion of Non-GAAP Financial Measures (continued) Externally, management believes that investors may find Marvell's non-GAAP financial measures useful in their assessment of Marvell's operating performance and the valuation of Marvell. Internally, Marvell's non-GAAP financial measures are used in the following areas: Non-GAAP financial m ...

Core Viewpoint - Marvell Technology Inc. reported better-than-expected results and guidance, but the stock did not respond positively, indicating a tougher scrutiny from Wall Street on artificial intelligence-related companies [1] Financial Performance - The company anticipates revenue of $1.875 billion for its fiscal first quarter, which is slightly above the FactSet consensus estimate of $1.865 billion [1]

Exhibit 99.1 Marvell Technology, Inc. Reports Fourth Quarter and Fiscal Year 2025 Financial Results Santa Clara, Calif. (March 5, 2025) - Marvell Technology, Inc. (NASDAQ: MRVL), a leader in data infrastructure semiconductor solutions, today reported financial results for the fourth fiscal quarter and fiscal year ended February 1, 2025. Net revenue for the fourth quarter of fiscal 2025 was $1.817 billion, $17.0 million above the mid-point of the Company's guidance provided on December 3, 2024. GAAP net inco ...

Core Insights - Marvell Technology, Inc. reported a record fourth-quarter revenue of $1.817 billion, representing a 20% sequential increase and a 27% year-over-year growth, driven by strong performance in the data center market [4][10][30] - For fiscal year 2025, the company achieved net revenue of $5.767 billion, with a GAAP net loss of $(885.0) million, while non-GAAP net income was $1.377 billion [3][19] - The company anticipates first-quarter revenue growth of over 60% year-over-year for fiscal 2026, indicating a strong outlook for the upcoming year [4][27] Financial Performance - Fourth-quarter GAAP net income was $200.2 million, or $0.23 per diluted share, while non-GAAP net income was $531.4 million, or $0.60 per diluted share [2][10] - Fiscal 2025 saw a GAAP net loss of $(885.0) million, translating to $(1.02) per diluted share, contrasted with a non-GAAP net income of $1.377 billion, or $1.57 per diluted share [3][24] - Operating cash flow for the fourth quarter was $514.0 million, contributing to a total of $1.68 billion for the fiscal year [4][19] Market Segmentation - The data center segment accounted for 75% of total revenue in the fourth quarter, with a year-over-year growth of 78% [30] - Other segments included enterprise networking (9% of revenue), carrier infrastructure (6%), consumer (5%), and automotive/industrial (5%) [30] - The company has secured multiple new design wins, particularly in custom AI silicon programs, which are expected to drive future growth [4][29] Future Outlook - Marvell expects first-quarter net revenue to be approximately $1.875 billion, with GAAP gross margin around 50.5% and non-GAAP gross margin expected to be about 60% [11][27] - The company plans to maintain a focus on its custom AI silicon programs and interconnect products, which are anticipated to contribute significantly to revenue growth [4][29]