Marvell Technology, Inc. Reports Fourth Quarter and Fiscal Year 2025 Financial Results

Core Insights - Marvell Technology, Inc. reported a record fourth-quarter revenue of $1.817 billion, representing a 20$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]