Marvell Technology — Dec 2, 2025 release

“Marvell delivered record third-quarter revenue of $2.075 billion, exceeding the midpoint of guidance, driven by strong demand for our data center products. We are guiding for robust growth in the fourth quarter and are on track for a strong finish to the fiscal year, with full-year revenue growth forecasted to exceed 40%. Looking ahead, we see demand for our products continuing to accelerate, and as a result, our data center revenue growth forecast for next year is now higher than prior expectations,” said Matt Murphy, Marvell’s Chairman and CEO. “I am also excited to announce the acquisition of Celestial AI – a transformational milestone that accelerates our scale-up roadmap for interconnect. This acquisition further strengthens Marvell’s position at the forefront of one of the fastest-growing opportunities in AI datacenter infrastructure.” Fourth Quarter of Fiscal 2026 Financial Outlook • Net revenue is expected to be $2.200 billion +/- 5%. • GAAP gross margin is expected to be 51.1% to 52.1%. • Non-GAAP gross margin is expected to be 58.5% to 59.5%. • GAAP operating expenses are expected to be approximately $741 million. • Non-GAAP operating expenses are expected to be approximately $515 million. • Basic weighted-average shares outstanding are expected to be 850 million. • Diluted weighted-average shares outstanding are expected to be 857 million. • GAAP diluted net income per share is expected to be $0.36 +/- $0.05 per share. • Non-GAAP diluted net income per share is expected to be $0.79 +/-