Marvell Technology — Mar 5, 2026 release

In addition to our strong results and outlook, our design wins in fiscal 2026 hit an all-time record, which we expect will continue to fuel our future growth.” The financial outlook for the first quarter of fiscal 2027 includes expected results of Celestial AI and XConn Technologies as both acquisitions closed subsequent to our fiscal 2026 year end. First Quarter of Fiscal 2027 Financial Outlook   • Net revenue is expected to be $2.400 billion +/- 5%. • GAAP gross margin is expected to be 51.4% to 52.4%. • Non-GAAP gross margin is expected to be 58.25% to 59.25%. • GAAP operating expenses are expected to be approximately $872 million. • Non-GAAP operating expenses are expected to be approximately $575 million. • Basic weighted-average shares outstanding are expected to be 876 million. • Diluted weighted-average shares outstanding are expected to be 883 million. • GAAP diluted net income per share is expected to be $0.31 +/- $0.05 per share. • Non-GAAP diluted net income per share is expected to be $0.79 +/- $0.05 per share. GAAP diluted EPS is calculated using basic weighted-average shares outstanding when there is a GAAP net loss, and calculated using diluted weighted-average shares outstanding when there is a GAAP net income. Non-GAAP diluted EPS is calculated using diluted weighted-average shares outstanding. Conference Call Marvell will conduct a conference call on Thursday, March 5, 2026 at 1:45 p.m. Pacific Time to discuss results for the fourth fiscal quarter and fiscal year 2026. The call will be webcast and can be accessed at the Marvell Investor Relations website at http://investor.marvell.com/. Interested parties ma