Press release
Marvell Technology, Inc. Reports Third Quarter of Fiscal Year 2026 Financial Results
Q3 Net Revenue: $2.075 billion, a new record, grew by 37% year-on-year Q3 Gross Margin: 51.6% GAAP gross margin; 59.7% non-GAAP gross margin Q3 Diluted
About this update from Marvell Technology, Inc.
[{"type":"text","content":"\n\nQ3 Net Revenue: $2.075 billion, a new record, grew by 37% year-on-year\n\n\nQ3 Gross Margin: 51.6% GAAP gross margin; 59.7% non-GAAP gross margin\n\n\nQ3 Diluted income per share: $2.20 GAAP diluted income per share; $0.76 non-GAAP diluted income per share\n\n\n SANTA CLARA, Calif.--(BUSINESS WIRE)--\nMarvell Technology, Inc. (NASDAQ: MRVL), a leader in data infrastructure semiconductor solutions, today reported financial results for the third quarter of fiscal year 2026.\n\nNet revenue for the third quarter of fiscal 2026 was $2.075 billion, $15.0 million above the mid-point of the Company’s guidance provided on August 28, 2025.\n\nOn August 14, 2025, the Company completed the sale of its automotive ethernet business to Infineon Technologies AG for $2.5 billion in cash, which resulted in a pre-tax gain on sale of $1.8 billion. Marvell's results for the third quarter of fiscal 2026 include the results of the automotive ethernet business through the sale date, while prior periods presented include the results of the automotive ethernet business for the entire period.\n\nGAAP net income for the third quarter of fiscal 2026 was $1.901 billion, or $2.20 per diluted share. Non-GAAP net income for the third quarter of fiscal 2026 was $655.0 million, or $0.76 per diluted share. Cash flow from operations for the third quarter was $582.3 million.\n\n“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.”\n\nFourth Quarter of Fiscal 2026 Financial Outlook\n\n\nNet revenue is expected to be $2.200 billion +/- 5%.\n\n\nGAAP gross margin is expected to b...