Press release
Marvell Technology, Inc. Reports Second Quarter of Fiscal Year 2026 Financial Results
Q2 Net Revenue: $2.006 billion, a new record, grew by 58% year-on-yearQ2 Gross Margin: 50.4% GAAP gross margin; 59.4% non-GAAP gross marginQ2 Diluted income
About this update from Marvell Technology, Inc.
[{"type":"text","content":"Q2 Net Revenue: $2.006 billion, a new record, grew by 58% year-on-yearQ2 Gross Margin: 50.4% GAAP gross margin; 59.4% non-GAAP gross marginQ2 Diluted income per share: $0.22 GAAP diluted income per share; $0.67 non-GAAP diluted income per shareFinancial outlook for the third quarter of fiscal 2026 reflects the divestiture of Marvell's Automotive Ethernet business on August 14, 2025SANTA CLARA, Calif., Aug. 28, 2025 /PRNewswire/ -- Marvell Technology, Inc. (NASDAQ: MRVL), a leader in data infrastructure semiconductor solutions, today reported financial results for the second quarter of fiscal year 2026.\nNet revenue for the second quarter of fiscal 2026 was $2.006 billion, $6.0 million above the mid-point of the Company's guidance provided on May 29, 2025. GAAP net income for the second quarter of fiscal 2026 was $194.8 million, or $0.22 per diluted share. Non-GAAP net income for the second quarter of fiscal 2026 was $585.5 million, or $0.67 per diluted share. Cash flow from operations for the second quarter was $461.6 million.\n\"Marvell delivered record revenue of $2.006 billion in the second quarter – a 58% year-over-year increase – and we expect continued growth into the third quarter, accompanied by operating margin and earnings per share expansion,\" said Matt Murphy, Marvell's Chairman and CEO. \"Marvell's growth is being fueled by strong AI demand for our custom silicon and electro-optics products, as well as a significant increase in the pace of recovery in our enterprise networking and carrier infrastructure end markets. Our custom AI design activity is at an all-time high, with the Marvell team now engaged in over 50 new opportunities across more than 10 customers.\"\nThird Quarter of Fiscal 2026 Financial Outlook\nNet revenue is expected to be $2.060 billion +/- 5%.GAAP gross margin is expected to be 51.5% to 52.0%.Non-GAAP gross margin is expected to be 59.5% to 60.0%.GAAP operating expenses are expected to be approximately $719 million.Non-GAAP operating expenses are expected to be approximately $485 million.Basic weighted-average shares outstanding are expected to be 863 million.Diluted weighted-average shares outstanding are expected to be 870 million.GAAP diluted net income per share is expected to be $2.03 +/- $0.05 per share.Non-GAAP diluted net income per share is expected to be $0.74 +/- $0.05 per share.GAAP ...