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]

Financial Performance (GAAP) - Net revenue for Q4 2025 reached $18174 million [11], a significant increase compared to Q1 2024's $13217 million [11] - Net income for Q4 2025 was $2002 million [11], a substantial turnaround from a net loss of $6763 million in Q3 2024 [11] - Total assets as of February 1, 2025, stood at $202045 million [9] - GAAP Operating income (loss) for Q4 2025 was $2352 million [17], compared to $(7028) million in Q3 2024 [17] Financial Performance (Non-GAAP) - Non-GAAP net income for Q4 2025 was $5314 million [19], up from $2642 million in Q1 2024 [19] - Non-GAAP operating income for Q4 2025 was $6126 million [17], compared to $3339 million in Q1 2024 [17] - A non-GAAP tax rate of 70% was applied to the non-GAAP financial results for the fourth quarter of fiscal 2025 [3] Revenue by End Market - Data center revenue for Q4 2025 was $13658 million [21], representing 75% of total net revenue [21] - Enterprise networking contributed $1714 million [21], or 9% of total net revenue in Q4 2025 [21] - Consumer revenue was $887 million [21], accounting for 5% of total net revenue in Q4 2025 [21]

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]

Core Viewpoint - Marvell Technology Inc (NASDAQ:MRVL) is experiencing a short-term bounce despite recent losses, with potential for recovery towards its all-time high of $127.48 [1] Group 1: Stock Performance - MRVL stock is currently trading at $88.13, up 2.7% [1] - The stock was on track for its seventh loss in nine days prior to the recent bounce [1] - Year over year, MRVL is up 11% [3] Group 2: Technical Indicators - The stock has pulled back to its 260-day moving average, being within 0.75 of the trendline's average true range for the first time in at least eight of the past ten trading days [2] - MRVL has flashed a historically bullish signal, with five similar signals over the past three years leading to higher prices 80% of the time, averaging an 11.6% gain one month later [3] - The 14-day relative strength index (RSI) of 22.5 indicates that the stock is in "oversold" territory, suggesting a potential short-term bounce [3]

Core Viewpoint - Marvell Technology, Inc. is poised to report strong growth in its data center business driven by the increasing demand for AI solutions, with expectations of significant revenue increases in the upcoming fourth-quarter fiscal 2025 results [1][2][5]. Group 1: Data Center Business Performance - Marvell's data center segment has shown remarkable performance, achieving record revenues of $1.1 billion in the third quarter of fiscal 2025, reflecting a 98% year-over-year increase and 25% sequential growth [4]. - For the fourth quarter, Marvell anticipates data center revenues to grow by 20-25% sequentially, with estimates suggesting revenues could reach $1.36 billion, indicating a robust 23.5% sequential growth [5]. - The company's collaboration with major cloud providers like Amazon Web Services enhances its position in the AI-optimized silicon market [5]. Group 2: Custom AI Silicon as a Growth Driver - Marvell has made significant advancements in the AI semiconductor sector through its custom AI silicon programs, successfully ramping up its 100-billion-transistor AI accelerators [6]. - The demand for custom AI silicon remains strong, with an expanding pipeline across multiple customers, providing Marvell with a competitive edge in the AI data center market [7]. - Management indicated that the company is set to exceed its full-fiscal 2025 AI revenue target of $1.5 billion, driven by the growing demand for custom AI silicon [8]. Group 3: Electro-Optics and Networking Contributions - Marvell's electro-optics and high-speed networking segments are expected to significantly contribute to fourth-quarter revenues, with strong order momentum for its 800-gig PAM and 400ZR interconnect solutions [9]. - The company has begun shipments of its 1.6T PAM DSP technology, which enhances bandwidth efficiency and energy savings for next-generation data center interconnects [10]. - Electro-optics revenues grew by double digits sequentially in the last reported quarter, with further gains anticipated as AI adoption accelerates [10].

Core Viewpoint - Marvell Technology, Inc. is expected to exceed revenue and earnings expectations in its upcoming fourth-quarter fiscal 2025 results, driven by strong performance in its data center division and partnerships in cloud security [1][5][25]. Revenue Projections - Marvell projects total revenues for the fiscal fourth quarter to be $1.8 billion, indicating a 26.5% increase from the previous year [2]. - The data center division is anticipated to generate $1.36 billion in revenues, reflecting a robust 23.5% sequential growth [7]. Earnings Expectations - Non-GAAP earnings are projected at 59 cents per share, representing a 28.5% increase year-over-year [3]. - The consensus estimate for earnings has remained stable at 59 cents for the past 60 days [3]. Market Performance - Marvell's stock has declined 16.8% year-to-date, underperforming the Zacks Electronics – Semiconductors industry, which has seen a 9.2% decline [16]. - The stock trades at a forward 12-month price-to-sales multiple of 9.66X, higher than the industry average of 7.45X, indicating a premium valuation [19]. Growth Drivers - The data center division's growth is fueled by rising demand for AI-specific compute solutions and advancements in connectivity technologies [22][24]. - Partnerships, such as the integration of Marvell's security hardware into Microsoft Azure, enhance revenue diversification and strengthen market position [9]. Segment Performance - The enterprise networking and carrier infrastructure segments are expected to see sequential revenue increases of 16.8%, reaching $176.3 million and $98.3 million, respectively [12]. - The automotive and industrial segments are projected to generate $84.9 million, indicating a 2.4% sequential improvement [14]. - The consumer segment, however, is facing challenges, with a projected 15% quarter-over-quarter revenue decline to $82 million due to seasonality and macroeconomic factors [15]. Investment Consideration - Marvell's custom silicon business is positioned as a key player in the data center market, particularly for AI computing efficiency [22]. - The company is expected to benefit from sustained AI-driven demand, with management forecasting low-to-mid 20% sequential revenue growth for the fourth quarter [23]. Conclusion - Marvell is viewed as a strong investment opportunity, particularly for those looking to capitalize on the growth of AI and semiconductor technologies [25][26].

Core Insights - Marvell Technology, Inc. has introduced its first 2nm silicon IP aimed at enhancing AI and cloud infrastructure, produced using TSMC's 2nm process [1][9] - The custom silicon market is projected to grow at an annual rate of 45%, with expectations that it will represent approximately 25% of the accelerated compute market by 2028 [2] Group 1: Technology Development - The Marvell platform focuses on a comprehensive semiconductor IP portfolio, including advanced technologies such as SerDes, die-to-die interconnects, and custom high-bandwidth memory architectures [3] - Marvell has been a leader in advanced technology nodes, launching a 5nm platform in 2020 and a 3nm platform in 2022, with products already in development and shipping [4] - The introduction of 3D simultaneous bi-directional I/O technology allows for increased bandwidth and reduced connections, enhancing chip design flexibility [6][7] Group 2: Strategic Partnerships - Marvell's collaboration with TSMC is crucial for developing complex silicon solutions that offer high performance and efficiency [5][8] - The partnership aims to leverage TSMC's advanced silicon technology and packaging to support the demands of the AI era [8] Group 3: Market Impact - The 2nm platform is expected to significantly improve the performance and efficiency of infrastructure for hyperscalers, addressing the needs of the AI-driven market [9] - The shift towards chiplet designs is anticipated to increase the transistor count in advanced processors, with 30% of such processors expected to utilize this approach [7]