\n
<\/p>\n
\n
\n May 27, 2026
\n <\/p>\n
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<\/p>\n
Q1 Net Revenue: $2.418 billion, a new record, grew by 28% year-on-year<\/p>\n
Q1 Gross Margin: 52.1% GAAP gross margin; 58.9% non-GAAP gross margin<\/p>\n
Q1 Diluted income per share: $0.04 GAAP diluted income per share; $0.80 non-GAAP diluted income per share<\/p>\n
\n\u00a0<\/p>\n
SANTA CLARA, Calif.–(BUSINESS WIRE)–
\nMarvell Technology, Inc. (NASDAQ: MRVL), a leader in data infrastructure semiconductor solutions, today reported financial results for the first quarter of fiscal year 2027.<\/p>\n
\nNet revenue for the first quarter of fiscal 2027 was $2.418 billion, $18.0 million above the mid-point of the Company\u2019s guidance provided on March 5, 2026.<\/p>\n
\nGAAP net income for the first quarter of fiscal 2027 was $34.5 million, or $0.04 per diluted share. Non-GAAP net income for the first quarter of fiscal 2027 was $718.0 million, or $0.80 per diluted share. Cash flow from operations for the first quarter was $638.8 million, a record high.<\/p>\n
\nThe Company completed the acquisition of Celestial AI, Inc. (\u201cCelestial\u201d) on February 2, 2026 and the acquisition of XConn Technologies Holdings, Ltd. (\u201cXConn\u201d) on February 10, 2026. Marvell\u2019s financial results include the results of Celestial and XConn for the period from the dates of acquisition through the first quarter of fiscal 2027.<\/p>\n
\n\u201cMarvell delivered record first-quarter fiscal 2027 revenue of $2.418 billion, up 28% year-over-year, and guided second-quarter revenue to $2.7 billion at the mid-point, representing 35% year-over-year growth. We expect revenue growth to continue accelerating each quarter throughout fiscal 2027, driven by continued strength in our data center business,\u201d said Matt Murphy, Marvell\u2019s Chairman and CEO. \u201cWe are seeing exceptional AI-related bookings, and as a result, we are significantly raising Marvell\u2019s revenue outlook for both fiscal 2027 and fiscal 2028 compared with the guidance we provided last quarter. This improved outlook is being driven by strong demand across a broad set of Marvell solutions, including 800G and 1.6T scale-out optics, 51.2T Ethernet scale-out switches, scale-up optical solutions for NPO and CPO applications, scale-across datacenter interconnect modules, and custom XPU and XPU-attach solutions.\u201d<\/p>\n
\nSecond Quarter of Fiscal 2027 Financial Outlook<\/p>\n
Net revenue is expected to be $2.700 billion +\/- 5%.<\/p>\n
GAAP gross margin is expected to be 52.1% to 53.1%.<\/p>\n
Non-GAAP gross margin is expected to be 58.25% to 59.25%.<\/p>\n
GAAP operating expenses are expected to be approximately $960 million.<\/p>\n
Non-GAAP operating expenses are expected to be approximately $600 million.<\/p>\n
Basic weighted-average shares outstanding are expected to be 899 million.<\/p>\n
Diluted weighted-average shares outstanding are expected to be 915 million.<\/p>\n
GAAP diluted net income per share is expected to be $0.37 +\/- $0.05 per share.<\/p>\n
Non-GAAP diluted net income per share is expected to be $0.93 +\/- $0.05 per share.<\/p>\n
\nGAAP 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. The Company calculated EPS under the two-class method as a result of the issuance of the Series A Convertible Preferred Stock on March 31, 2026.<\/p>\n
\nConference Call<\/p>\n
\nMarvell will conduct a conference call on Wednesday, May 27, 2026 at 1:45 p.m. Pacific Time to discuss results for the first quarter of fiscal year 2027. The call will be webcast and can be accessed at the Marvell Investor Relations website at http:\/\/investor.marvell.com\/<\/a>. Interested parties may also join the live conference call via telephone by using the \u2018Call me\u2122\u2019 link provided in the press release on May 4, 2026, and on the Quarterly Earnings section of the Marvell Investor Relations website, to receive an instant automated call back. To join the call via telephone with operator assistance, please dial 1-877-407-8291 or 1-201-689-8345. A replay of the call can be accessed by dialing 1-877-660-6853 or 1-201-612-7415, passcode 13760544 until Tuesday, June 2, 2026.<\/p>\n \nDiscussion of Non-GAAP Financial Measures<\/p>\n \nNon-GAAP financial measures exclude the effect of stock-based compensation expense, amortization of acquired intangible assets, acquisition and divestiture related costs, restructuring and other related charges (gains), (including, but not limited to, recognition of contractual obligations, employee severance costs, and facility exit related charges), change in fair value of contingent consideration liability and forward stock purchase contract, resolution of legal matters, and certain expenses and benefits that are driven primarily by discrete events that management does not consider to be directly related to Marvell\u2019s core business. Although Marvell excludes the amortization of all acquired intangible assets from these non-GAAP financial measures, management believes that it is important for investors to understand that such intangible assets were recorded as part of purchase price accounting arising from acquisitions, and that such amortization of intangible assets that relate to past acquisitions will recur in future periods until such intangible assets have been fully amortized. Investors should note that the use of intangible assets contributed to Marvell\u2019s revenues earned during the periods presented and are expected to contribute to Marvell\u2019s future period revenues as well.<\/p>\n \nMarvell uses a non-GAAP tax rate to compute the non-GAAP tax provision. This non-GAAP tax rate is based on Marvell\u2019s estimated annual GAAP income tax forecast, adjusted to account for items excluded from Marvell\u2019s non-GAAP income, as well as the effects of significant non-recurring and period specific tax items which vary in size and frequency, and excludes tax deductions and benefits from acquired tax loss and credit carryforwards and changes in valuation allowance on acquired deferred tax assets. Marvell\u2019s non-GAAP tax rate is determined on an annual basis and may be adjusted during the year to take into account events that may materially affect the non-GAAP tax rate such as tax law changes; acquisitions; significant changes in Marvell\u2019s geographic mix of revenue and expenses; or changes to Marvell\u2019s corporate structure. For the first quarter of fiscal 2027, a non-GAAP tax rate of 11.0% has been applied to the non-GAAP financial results.<\/p>\n \nMarvell believes that the presentation of non-GAAP financial measures provides important supplemental information to management and investors regarding financial and business trends relating to Marvell\u2019s financial condition and results of operations. While Marvell uses non-GAAP financial measures as a tool to enhance its understanding of certain aspects of its financial performance, Marvell does not consider these measures to be a substitute for, or superior to, financial measures calculated in accordance with GAAP. Consistent with this approach, Marvell believes that disclosing non-GAAP financial measures to the readers of its financial statements provides such readers with useful supplemental data that, while not a substitute for GAAP financial measures, allows for greater transparency in the review of its financial and operational performance.<\/p>\n \nExternally, management believes that investors may find Marvell\u2019s non-GAAP financial measures useful in their assessment of Marvell\u2019s operating performance and the valuation of Marvell. Internally, Marvell\u2019s non-GAAP financial measures are used in the following areas:<\/p>\n Management\u2019s evaluation of Marvell\u2019s operating performance;<\/p>\n Management\u2019s establishment of internal operating budgets;<\/p>\n Management\u2019s performance comparisons with internal forecasts and targeted business models; and<\/p>\n Management\u2019s determination of the achievement and measurement of certain types of compensation including Marvell\u2019s annual incentive plan and certain performance-based equity awards (adjustments may vary from award to award).<\/p>\n \nNon-GAAP financial measures have limitations in that they do not reflect all of the costs associated with the operations of Marvell\u2019s business as determined in accordance with GAAP. As a result, you should not consider these measures in isolation or as a substitute for analysis of Marvell\u2019s results as reported under GAAP. The exclusion of the above items from our GAAP financial metrics does not necessarily mean that these costs are unusual or infrequent.<\/p>\n \nForward-Looking Statements under the Private Securities Litigation Reform Act of 1995<\/p>\n \nThis press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the \u201cSecurities Act\u201d), and Section 21E of the Securities Exchange Act of 1934, as amended (the \u201cExchange Act\u201d), which are subject to the \u201csafe harbor\u201d created by those sections. These statements involve known and unknown risks, uncertainties and other factors, which may cause our actual results to differ materially from those implied by the forward-looking statements. Words such as \u201canticipates,\u201d \u201cexpects,\u201d \u201cintends,\u201d \u201cplans,\u201d \u201cprojects,\u201d \u201cbelieves,\u201d \u201cseeks,\u201d \u201cestimates,\u201d \u201cforecasts,\u201d \u201ctargets,\u201d \u201cmay,\u201d \u201ccan,\u201d \u201cwill,\u201d \u201cwould\u201d and similar expressions identify such forward-looking statements. Forward-looking statements contained in this press release include, but are not limited to, the statements describing our financial outlook and future period revenues. These statements are not guarantees of results and should not be considered as an indication of future activity or future performance. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Actual events or results may differ materially from those described in this press release due to a number of risks and uncertainties, including, but not limited to: risks related to our ability to estimate customer demand and future sales accurately; our ability to define, design, develop and market products for the data center and communications markets; risks related to our dependence on a few customers for a significant portion of our revenue, particularly as our major customers comprise an increasing percentage of our revenue, as well as risks related to a significant portion of our sales being concentrated in the data center end market; risks related to the potential impact of AI on our business model and products; risks related to the rapid growth of the Company; risks that our customers develop their own solutions, vertically integrate which may reduce the need for our products, or acquire fully developed solutions from third parties; our ability to secure design wins from our customers and prospective customers; our ability to complete and realize the anticipated benefits of any acquisitions, divestitures and investments; supply chain disruptions or component shortages that may impact the production of our products including our kitting process or may impact the price of components which in turn may impact our margins on any impacted products and any constrained availability from other electronic suppliers impacting our customers\u2019 ability to ship their products, which in turn may adversely impact our sales to those customers; the impact of international conflict (such as the current armed conflicts in the Ukraine and in Israel and the Middle East) and economic volatility in either domestic or foreign markets including risks related to trade conflicts or tensions, regulations, and tariffs, including but not limited to, trade restrictions imposed on our Chinese customers; risks related to changes in general macroeconomic conditions, or expectations of such conditions, such as high or rising interest rates, macroeconomic slowdowns, recessions, inflation, and stagflation; risks related to higher inventory levels; risks related to cancellations, rescheduling or deferrals of significant customer orders or shipments, as well as the ability of our customers to manage inventory; our ability to realize the expected benefits from restructuring activities; the risk of downturns in the semiconductor industry or our customer end markets; our ability to retain and hire key personnel; risks related to our return to working full time in the office; cybersecurity risks; our ability to limit costs related to defective products; risks related to our debt obligations; delays or increased costs related to completing the design, development, production and introduction of our new products due to a variety of issues, including supply chain cross-dependencies, dependencies on EDA and similar tools, dependencies on the use of third-party, business partner or customer intellectual property, collaboration and synchronization requirements with business partners and customers, requirements to establish new manufacturing, testing, assembly and packing processes, and other issues; our reliance on our manufacturing partners for the manufacture, assembly, testing and packaging of our products; risks related to the ASIC business model which requires us to use third-party IP including the risk that we may lose business or experience reputational harm if third parties, including customers, lose confidence in our ability to protect their IP rights; the risks associated with manufacturing and selling products and customers\u2019 products outside of the United States; decreases in gross margin and results of operations in the future due to a number of factors, including high or increasing interest rates and volatility in foreign exchange rates; severe financial hardship or bankruptcy of one or more of our major customers; the effects of transitioning to smaller geometry process technologies; the impact of any change in the income tax laws in jurisdictions where we operate and the loss of any beneficial tax treatment that we currently enjoy; the outcome of pending or future litigation and legal and regulatory proceedings; risk related to our Sustainability program; the impact and costs associated with changes in international financial and regulatory conditions; our ability and the ability of our customers to successfully compete in the markets in which we serve; our ability and our customers\u2019 ability to develop new and enhanced products and the adoption of those products in the market; our ability to scale our operations in response to changes in demand for existing or new products and services; risks associated with acquisition and consolidation activity in the semiconductor industry, including any consolidation of our manufacturing partners; our ability to protect our intellectual property; risks related to the issuance of preferred stock; risks related to the impact of future pandemics; our maintenance of an effective system of internal controls; financial institution instability; and other risks detailed in our SEC filings from time to time. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties that affect our business described in the \u201cRisk Factors\u201d section of our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and other documents filed by us from time to time with the SEC. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and we assume no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.<\/p>\n \nAbout Marvell<\/p>\n \nTo deliver the data infrastructure technology that connects the world, we\u2019re building solutions on the most powerful foundation: our partnerships with our customers. Trusted by the world\u2019s leading technology companies for over 30 years, we move, store, process and secure the world\u2019s data with semiconductor solutions designed for our customers\u2019 current needs and future ambitions. Through a process of deep collaboration and transparency, we\u2019re ultimately changing the way tomorrow\u2019s enterprise, cloud and carrier architectures transform\u2014for the better.<\/p>\n \nMarvell\u00ae and the Marvell logo are registered trademarks of Marvell and\/or its affiliates.<\/p>\n \nMarvell Technology, Inc.<\/p>\n \nCondensed Consolidated Statements of Operations (Unaudited)<\/p>\n \n(In millions, except per share amounts)<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \nThree Months Ended<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \nMay 2, \n\u00a0<\/p>\n \nJanuary 31, \n\u00a0<\/p>\n \nMay 3, \nNet revenue<\/p>\n \n\u00a0<\/p>\n \n$<\/p>\n \n2,417.8<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n$<\/p>\n \n2,218.7<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n$<\/p>\n \n1,895.3<\/p>\n \n\u00a0<\/p>\n \nCost of goods sold<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n1,157.0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n1,070.8<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n942.9<\/p>\n \n\u00a0<\/p>\n \nGross profit<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n1,260.8<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n1,147.9<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n952.4<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \nOperating expenses:<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \nResearch and development<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n652.3<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n536.0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n507.7<\/p>\n \n\u00a0<\/p>\n \nSelling, general and administrative<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n258.4<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n198.0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n186.4<\/p>\n \n\u00a0<\/p>\n \nRestructuring related charges (gains), net<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n10.7<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n9.5<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(12.3<\/p>\n \n)<\/p>\n \nTotal operating expenses<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n921.4<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n743.5<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n681.8<\/p>\n \n\u00a0<\/p>\n \nOperating income<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n339.4<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n404.4<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n270.6<\/p>\n \n\u00a0<\/p>\n \nInterest expense<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(52.8<\/p>\n \n)<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(50.8<\/p>\n \n)<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(48.7<\/p>\n \n)<\/p>\n \nOther income (expense), net<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(203.3<\/p>\n \n)<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n28.0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(6.0<\/p>\n \n)<\/p>\n \nInterest and other loss, net<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(256.1<\/p>\n \n)<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(22.8<\/p>\n \n)<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(54.7<\/p>\n \n)<\/p>\n \nIncome before income taxes<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n83.3<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n381.6<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n215.9<\/p>\n \n\u00a0<\/p>\n \nProvision (benefit) for income taxes<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n48.8<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(14.5<\/p>\n \n)<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n38.0<\/p>\n \n\u00a0<\/p>\n \nNet income<\/p>\n \n\u00a0<\/p>\n \n$<\/p>\n \n34.5<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n$<\/p>\n \n396.1<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n$<\/p>\n \n177.9<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \nNet income per share \u2014 basic<\/p>\n \n\u00a0<\/p>\n \n$<\/p>\n \n0.04<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n$<\/p>\n \n0.47<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n$<\/p>\n \n0.21<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \nNet income per share \u2014 diluted<\/p>\n \n\u00a0<\/p>\n \n$<\/p>\n \n0.04<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n$<\/p>\n \n0.46<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n$<\/p>\n \n0.20<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \nWeighted-average shares outstanding – common stock and preferred stock assuming conversion:<\/p>\n \nBasic<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n882.0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n848.0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n864.8<\/p>\n \n\u00a0<\/p>\n \nDiluted<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n893.3<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n856.2<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n875.6<\/p>\n \n\u00a0<\/p>\n \nMarvell Technology, Inc.<\/p>\n \nCondensed Consolidated Balance Sheets (Unaudited)<\/p>\n \n(In millions)<\/p>\n \u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \nMay 2, \n\u00a0<\/p>\n \nJanuary 31, \nAssets<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \nCurrent assets:<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \nCash and cash equivalents<\/p>\n \n\u00a0<\/p>\n \n$<\/p>\n \n3,843.6<\/p>\n \n\u00a0<\/p>\n \n$<\/p>\n \n2,638.8<\/p>\n \nAccounts receivable, net<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n1,871.7<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n2,186.6<\/p>\n \nInventories<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n1,400.9<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n1,388.0<\/p>\n \nPrepaid expenses and other current assets<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n347.8<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n247.2<\/p>\n \nTotal current assets<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n7,464.0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n6,460.6<\/p>\n \nProperty and equipment, net<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n972.5<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n935.0<\/p>\n \nGoodwill<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n13,883.5<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n11,062.2<\/p>\n \nAcquired intangible assets, net<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n2,561.5<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n1,754.7<\/p>\n \nDeferred tax assets<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n319.8<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n345.9<\/p>\n \nOther non-current assets<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n1,743.2<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n1,726.9<\/p>\n \nTotal assets<\/p>\n \n\u00a0<\/p>\n \n$<\/p>\n \n26,944.5<\/p>\n \n\u00a0<\/p>\n \n$<\/p>\n \n22,285.3<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \nLiabilities and Stockholders\u2019 Equity<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \nCurrent liabilities:<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \nAccounts payable<\/p>\n \n\u00a0<\/p>\n \n$<\/p>\n \n709.7<\/p>\n \n\u00a0<\/p>\n \n$<\/p>\n \n1,073.8<\/p>\n \nAccrued liabilities<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n1,335.6<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n1,337.1<\/p>\n \nAccrued employee compensation<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n231.5<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n309.8<\/p>\n \nShort-term debt<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u2014<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n499.8<\/p>\n \nTotal current liabilities<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n2,276.8<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n3,220.5<\/p>\n \nLong-term debt<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n4,961.3<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n3,970.8<\/p>\n \nOther non-current liabilities<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n1,490.6<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n785.6<\/p>\n \nTotal liabilities<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n8,728.7<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n7,976.9<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \nStockholders\u2019 equity:<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \nPreferred stock<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u2014<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u2014<\/p>\n \nCommon stock<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n1.8<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n1.7<\/p>\n \nAdditional paid-in capital<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n16,877.5<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n12,950.9<\/p>\n \nRetained earnings<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n1,336.5<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n1,355.8<\/p>\n \nTotal stockholders\u2019 equity<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n18,215.8<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n14,308.4<\/p>\n \nTotal liabilities and stockholders\u2019 equity<\/p>\n \n\u00a0<\/p>\n \n$<\/p>\n \n26,944.5<\/p>\n \n\u00a0<\/p>\n \n$<\/p>\n \n22,285.3<\/p>\n \nMarvell Technology, Inc.<\/p>\n \nCondensed Consolidated Statements of Cash Flows (Unaudited)<\/p>\n \n(In millions)<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \nThree Months Ended<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \nMay 2, \n\u00a0<\/p>\n \nMay 3, \nCash flows from operating activities:<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \nNet income<\/p>\n \n\u00a0<\/p>\n \n$<\/p>\n \n34.5<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n$<\/p>\n \n177.9<\/p>\n \n\u00a0<\/p>\n \nAdjustments to reconcile net income to net cash provided by operating activities:<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \nDepreciation and amortization<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n95.4<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n84.2<\/p>\n \n\u00a0<\/p>\n \nStock-based compensation<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n207.6<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n142.1<\/p>\n \n\u00a0<\/p>\n \nAmortization of acquired intangible assets<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n225.2<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n245.7<\/p>\n \n\u00a0<\/p>\n \nChange in fair value of contingent consideration liability<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n331.8<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u2014<\/p>\n \n\u00a0<\/p>\n \nChange in fair value of forward stock purchase contract<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(81.1<\/p>\n \n)<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u2014<\/p>\n \n\u00a0<\/p>\n \nRestructuring related charges (gains), net<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u2014<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(14.0<\/p>\n \n)<\/p>\n \nDeferred income taxes<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n13.8<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(4.3<\/p>\n \n)<\/p>\n \nOther expense, net<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n23.2<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n44.1<\/p>\n \n\u00a0<\/p>\n \nChanges in assets and liabilities, net of acquisitions:<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \nAccounts receivable<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n314.9<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(115.6<\/p>\n \n)<\/p>\n \nPrepaid expenses and other assets<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(28.5<\/p>\n \n)<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n24.1<\/p>\n \n\u00a0<\/p>\n \nInventories<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(11.4<\/p>\n \n)<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(69.9<\/p>\n \n)<\/p>\n \nAccounts payable<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(355.9<\/p>\n \n)<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(37.4<\/p>\n \n)<\/p>\n \nAccrued employee compensation<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(84.4<\/p>\n \n)<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(117.6<\/p>\n \n)<\/p>\n \nAccrued liabilities and other non-current liabilities<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(46.3<\/p>\n \n)<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(26.4<\/p>\n \n)<\/p>\n \nNet cash provided by operating activities<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n638.8<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n332.9<\/p>\n \n\u00a0<\/p>\n \nCash flows from investing activities:<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \nPurchases of technology licenses<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(0.5<\/p>\n \n)<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(1.1<\/p>\n \n)<\/p>\n \nPurchases of property and equipment<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(155.7<\/p>\n \n)<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(118.8<\/p>\n \n)<\/p>\n \nProceeds from sales of property and equipment<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u2014<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n25.9<\/p>\n \n\u00a0<\/p>\n \nAcquisitions, net of cash acquired<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(1,270.9<\/p>\n \n)<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u2014<\/p>\n \n\u00a0<\/p>\n \nOther, net<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n5.7<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(0.1<\/p>\n \n)<\/p>\n \nNet cash used in investing activities<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(1,421.4<\/p>\n \n)<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(94.1<\/p>\n \n)<\/p>\n \nCash flows from financing activities:<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \nRepurchases of common stock<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(200.0<\/p>\n \n)<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(340.0<\/p>\n \n)<\/p>\n \nProceeds from employee stock plans<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n3.3<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n0.6<\/p>\n \n\u00a0<\/p>\n \nProceeds from issuance of preferred stock<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n2,000.0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u2014<\/p>\n \n\u00a0<\/p>\n \nTax withholding paid on behalf of employees for net share settlement<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(227.2<\/p>\n \n)<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(50.2<\/p>\n \n)<\/p>\n \nDividend payments to stockholders<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(53.8<\/p>\n \n)<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(51.8<\/p>\n \n)<\/p>\n \nPayments on technology license obligations<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(27.2<\/p>\n \n)<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(26.8<\/p>\n \n)<\/p>\n \nProceeds from borrowings<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n998.9<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n200.0<\/p>\n \n\u00a0<\/p>\n \nPrincipal payments of debt<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(500.0<\/p>\n \n)<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(32.8<\/p>\n \n)<\/p>\n \nOther, net<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(6.6<\/p>\n \n)<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(0.2<\/p>\n \n)<\/p>\n \nNet cash provided by (used in) financing activities<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n1,987.4<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(301.2<\/p>\n \n)<\/p>\n \nNet increase (decrease) in cash and cash equivalents<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n1,204.8<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(62.4<\/p>\n \n)<\/p>\n \nCash and cash equivalents at beginning of period<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n2,638.8<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n948.3<\/p>\n \n\u00a0<\/p>\n \nCash and cash equivalents at end of period<\/p>\n \n\u00a0<\/p>\n \n$<\/p>\n \n3,843.6<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n$<\/p>\n \n885.9<\/p>\n \n\u00a0<\/p>\n \nMarvell Technology, Inc.<\/p>\n \nReconciliations from GAAP to Non-GAAP (Unaudited)<\/p>\n \n(In millions, except per share amounts)<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \nThree Months Ended<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \nMay 2, \n\u00a0<\/p>\n \nJanuary 31, \n\u00a0<\/p>\n \nMay 3, \nGAAP gross profit<\/p>\n \n\u00a0<\/p>\n \n$<\/p>\n \n1,260.8<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n$<\/p>\n \n1,147.9<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n$<\/p>\n \n952.4<\/p>\n \n\u00a0<\/p>\n \nSpecial items – expenses (income):<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \nStock-based compensation<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n14.2<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n10.5<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n11.2<\/p>\n \n\u00a0<\/p>\n \nAmortization of acquired intangible assets<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n150.8<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n148.8<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n169.4<\/p>\n \n\u00a0<\/p>\n \nRestructuring related charges (a)<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(2.0<\/p>\n \n)<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u2014<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u2014<\/p>\n \n\u00a0<\/p>\n \nOther cost of goods sold (b)<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u2014<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n1.6<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n0.5<\/p>\n \n\u00a0<\/p>\n \nTotal special items<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n163.0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n160.9<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n181.1<\/p>\n \n\u00a0<\/p>\n \nNon-GAAP gross profit<\/p>\n \n\u00a0<\/p>\n \n$<\/p>\n \n1,423.8<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n$<\/p>\n \n1,308.8<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n$<\/p>\n \n1,133.5<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \nGAAP gross margin<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n52.1<\/p>\n \n%<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n51.7<\/p>\n \n%<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n50.3<\/p>\n \n%<\/p>\n \nStock-based compensation<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n0.6<\/p>\n \n%<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n0.5<\/p>\n \n%<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n0.6<\/p>\n \n%<\/p>\n \nAmortization of acquired intangible assets<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n6.3<\/p>\n \n%<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n6.7<\/p>\n \n%<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n8.9<\/p>\n \n%<\/p>\n \nRestructuring related charges (a)<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(0.1<\/p>\n \n)%<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u2014<\/p>\n \n%<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u2014<\/p>\n \n%<\/p>\n \nOther cost of goods sold (b)<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u2014<\/p>\n \n%<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n0.1<\/p>\n \n%<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u2014<\/p>\n \n%<\/p>\n \nNon-GAAP gross margin<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n58.9<\/p>\n \n%<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n59.0<\/p>\n \n%<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n59.8<\/p>\n \n%<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \nGAAP operating expenses<\/p>\n \n\u00a0<\/p>\n \n$<\/p>\n \n921.4<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n$<\/p>\n \n743.5<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n$<\/p>\n \n681.8<\/p>\n \n\u00a0<\/p>\n \nSpecial items – (expenses) income:<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \nStock-based compensation<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(193.4<\/p>\n \n)<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(132.5<\/p>\n \n)<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(130.9<\/p>\n \n)<\/p>\n \nAmortization of acquired intangible assets<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(74.4<\/p>\n \n)<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(74.8<\/p>\n \n)<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(76.3<\/p>\n \n)<\/p>\n \nRestructuring related charges (a)<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(10.7<\/p>\n \n)<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(9.5<\/p>\n \n)<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n12.3<\/p>\n \n\u00a0<\/p>\n \nOther (c)<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(66.0<\/p>\n \n)<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(9.7<\/p>\n \n)<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(0.7<\/p>\n \n)<\/p>\n \nTotal special items<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(344.5<\/p>\n \n)<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(226.5<\/p>\n \n)<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(195.6<\/p>\n \n)<\/p>\n \nNon-GAAP operating expenses<\/p>\n \n\u00a0<\/p>\n \n$<\/p>\n \n576.9<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n$<\/p>\n \n517.0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n$<\/p>\n \n486.2<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \nGAAP operating income<\/p>\n \n\u00a0<\/p>\n \n$<\/p>\n \n339.4<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n$<\/p>\n \n404.4<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n$<\/p>\n \n270.6<\/p>\n \n\u00a0<\/p>\n \nSpecial items – expenses (income):<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \nStock-based compensation<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n207.6<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n143.0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n142.1<\/p>\n \n\u00a0<\/p>\n \nAmortization of acquired intangible assets<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n225.2<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n223.6<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n245.7<\/p>\n \n\u00a0<\/p>\n \nRestructuring related charges (a)<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n8.7<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n9.5<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(12.3<\/p>\n \n)<\/p>\n \nOther cost of goods sold (b)<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u2014<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n1.6<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n0.5<\/p>\n \n\u00a0<\/p>\n \nOther (c)<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n66.0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n9.7<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n0.7<\/p>\n \n\u00a0<\/p>\n \nTotal special items<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n507.5<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n387.4<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n376.7<\/p>\n \n\u00a0<\/p>\n \nNon-GAAP operating income<\/p>\n \n\u00a0<\/p>\n \n$<\/p>\n \n846.9<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n$<\/p>\n \n791.8<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n$<\/p>\n \n647.3<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \nGAAP operating margin<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n14.0<\/p>\n \n%<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n18.2<\/p>\n \n%<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n14.3<\/p>\n \n%<\/p>\n \nStock-based compensation<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n8.6<\/p>\n \n%<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n6.4<\/p>\n \n%<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n7.5<\/p>\n \n%<\/p>\n \nAmortization of acquired intangible assets<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n9.3<\/p>\n \n%<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n10.1<\/p>\n \n%<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n13.0<\/p>\n \n%<\/p>\n \nRestructuring related charges (a)<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n0.4<\/p>\n \n%<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n0.4<\/p>\n \n%<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(0.6<\/p>\n \n)%<\/p>\n \nOther cost of goods sold (b)<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u2014<\/p>\n \n%<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n0.1<\/p>\n \n%<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u2014<\/p>\n \n%<\/p>\n \nOther (c)<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n2.7<\/p>\n \n%<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n0.5<\/p>\n \n%<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u2014<\/p>\n \n%<\/p>\n \nNon-GAAP operating margin<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n35.0<\/p>\n \n%<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n35.7<\/p>\n \n%<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n34.2<\/p>\n \n%<\/p>\n \nGAAP interest and other loss, net<\/p>\n \n\u00a0<\/p>\n \n$<\/p>\n \n(256.1<\/p>\n \n)<\/p>\n \n\u00a0<\/p>\n \n$<\/p>\n \n(22.8<\/p>\n \n)<\/p>\n \n\u00a0<\/p>\n \n$<\/p>\n \n(54.7<\/p>\n \n)<\/p>\n \nSpecial items – expenses (income):<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \nChange in fair value of contingent consideration liability, net of forward stock purchase contract<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n250.7<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u2014<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u2014<\/p>\n \n\u00a0<\/p>\n \nOther (c)<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(34.7<\/p>\n \n)<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(7.8<\/p>\n \n)<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n7.4<\/p>\n \n\u00a0<\/p>\n \nTotal special items<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n216.0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(7.8<\/p>\n \n)<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n7.4<\/p>\n \n\u00a0<\/p>\n \nNon-GAAP interest and other loss, net<\/p>\n \n\u00a0<\/p>\n \n$<\/p>\n \n(40.1<\/p>\n \n)<\/p>\n \n\u00a0<\/p>\n \n$<\/p>\n \n(30.6<\/p>\n \n)<\/p>\n \n\u00a0<\/p>\n \n$<\/p>\n \n(47.3<\/p>\n \n)<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \nGAAP net income<\/p>\n \n\u00a0<\/p>\n \n$<\/p>\n \n34.5<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n$<\/p>\n \n396.1<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n$<\/p>\n \n177.9<\/p>\n \n\u00a0<\/p>\n \nSpecial items – expenses (income):<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \nStock-based compensation<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n207.6<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n143.0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n142.1<\/p>\n \n\u00a0<\/p>\n \nAmortization of acquired intangible assets<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n225.2<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n223.6<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n245.7<\/p>\n \n\u00a0<\/p>\n \nRestructuring related charges (a)<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n8.7<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n9.5<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(12.3<\/p>\n \n)<\/p>\n \nOther cost of goods sold (b)<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u2014<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n1.6<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n0.5<\/p>\n \n\u00a0<\/p>\n \nChange in fair value of contingent consideration liability, net of forward stock purchase contract<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n250.7<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u2014<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u2014<\/p>\n \n\u00a0<\/p>\n \nOther (c)<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n31.3<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n1.9<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n8.1<\/p>\n \n\u00a0<\/p>\n \nPre-tax total special items<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n723.5<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n379.6<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n384.1<\/p>\n \n\u00a0<\/p>\n \nOther income tax effects and adjustments (d)<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(40.0<\/p>\n \n)<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(90.6<\/p>\n \n)<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(22.0<\/p>\n \n)<\/p>\n \nNon-GAAP net income<\/p>\n \n\u00a0<\/p>\n \n$<\/p>\n \n718.0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n$<\/p>\n \n685.1<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n$<\/p>\n \n540.0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \nGAAP weighted-average shares outstanding \u2014 basic<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n882.0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n848.0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n864.8<\/p>\n \n\u00a0<\/p>\n \nGAAP weighted-average shares outstanding \u2014 diluted<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n893.3<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n856.2<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n875.6<\/p>\n \n\u00a0<\/p>\n \nNon-GAAP weighted-average shares outstanding \u2014 diluted<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n893.3<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n856.2<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n875.6<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \nGAAP diluted net income per share<\/p>\n \n\u00a0<\/p>\n \n$<\/p>\n \n0.04<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n$<\/p>\n \n0.46<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n$<\/p>\n \n0.20<\/p>\n \n\u00a0<\/p>\n \nNon-GAAP diluted net income per share<\/p>\n \n\u00a0<\/p>\n \n$<\/p>\n \n0.80<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n$<\/p>\n \n0.80<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n$<\/p>\n \n0.62<\/p>\n \n\u00a0<\/p>\n \n(a)<\/p>\n \nRestructuring and other related items include gain on sale of property, recognition of contractual obligations, employee severance costs, facility exit related charges, and other.<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(b)<\/p>\n \nOther cost of goods sold include product claim related matters.<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(c)<\/p>\n \nOther costs in operating expenses, operating income and interest and other loss, net include acquisition and divestiture related costs, gain or loss on investments, and gain on sale of intellectual property.<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(d)<\/p>\n \nOther income tax effects and adjustments relate to tax provision based on a non-GAAP income tax rate of 11.0% for the three months ended May 2, 2026. Other income tax effects and adjustments relate to tax provision based on a non-GAAP income tax rate of 10.0% for the three months ended January 31, 2026 and May 3, 2025.<\/p>\n \nMarvell Technology, Inc.<\/p>\n \nOutlook for the Second Quarter of Fiscal Year 2027<\/p>\n \nReconciliations from GAAP to Non-GAAP (Unaudited)<\/p>\n \n(In millions, except per share amounts)<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \nOutlook for Three Months Ended<\/p>\n \nAugust 1, 2026<\/p>\n \nGAAP net revenue<\/p>\n \n$2,700 +\/- 5%<\/p>\n \nSpecial items:<\/p>\n \n\u2014<\/p>\n \nNon-GAAP net revenue<\/p>\n \n$2,700 +\/- 5%<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \nGAAP gross margin<\/p>\n \n52.1% – 53.1%<\/p>\n \nSpecial items:<\/p>\n \n\u00a0<\/p>\n \nStock-based compensation<\/p>\n \n~0.8%<\/p>\n \nAmortization of acquired intangible assets<\/p>\n \n~5.3%<\/p>\n \nNon-GAAP gross margin<\/p>\n \n58.25% – 59.25%<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \nTotal GAAP operating expenses<\/p>\n \n~$960<\/p>\n \nSpecial items:<\/p>\n \n\u00a0<\/p>\n \nStock-based compensation<\/p>\n \n282<\/p>\n \nAmortization of acquired intangible assets<\/p>\n \n72<\/p>\n \nRestructuring related charges<\/p>\n \n1<\/p>\n \nOther<\/p>\n \n5<\/p>\n \nTotal non-GAAP operating expenses<\/p>\n \n~$600<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \nGAAP diluted net income per share<\/p>\n \n$0.37 +\/- $0.05<\/p>\n \nSpecial items:<\/p>\n \n\u00a0<\/p>\n \nStock-based compensation<\/p>\n \n0.33<\/p>\n \nAmortization of acquired intangible assets<\/p>\n \n0.23<\/p>\n \nOther income tax effects and adjustments<\/p>\n \n(0.05)<\/p>\n \nOther<\/p>\n \n0.05<\/p>\n \nNon-GAAP diluted net income per share<\/p>\n \n$0.93 +\/- $0.05<\/p>\n \nQuarterly Revenue Trend (Unaudited)<\/p>\n \nOur product solutions serve two end markets: (i) data center and (ii) communications and other. These markets and their corresponding customer products and applications are noted in the table below:<\/p>\n \nEnd market<\/p>\n \nCustomer products and applications<\/p>\n \nData center<\/p>\n Cloud and on-premise Artificial intelligence (\u201cAI\u201d) systems<\/p>\n Cloud and on-premise ethernet switching<\/p>\n Cloud and on-premise network-attached storage (\u201cNAS\u201d)<\/p>\n Cloud and on-premise AI servers<\/p>\n Cloud and on-premise general-purpose servers<\/p>\n Cloud and on-premise storage area networks<\/p>\n Cloud and on-premise storage systems<\/p>\n Data center interconnect (\u201cDCI\u201d)<\/p>\n \n\u00a0<\/p>\n \nCommunications and other<\/p>\n \nEnterprise networking<\/p>\n Campus and small medium enterprise routers<\/p>\n Campus and small medium enterprise ethernet switches<\/p>\n Campus and small medium enterprise wireless access points (\u201cWAPs\u201d)<\/p>\n Network appliances (firewalls, and load balancers)<\/p>\n Workstations<\/p>\n \nCarrier infrastructure<\/p>\n Broadband access systems<\/p>\n Ethernet switches<\/p>\n Optical transport systems<\/p>\n Routers<\/p>\n Wireless radio access network (\u201cRAN\u201d) systems<\/p>\n \nConsumer<\/p>\n Broadband gateways and routers<\/p>\n Gaming consoles<\/p>\n Home data storage<\/p>\n Home wireless access points (\u201cWAPs\u201d)<\/p>\n Personal Computers (\u201cPCs\u201d)<\/p>\n Printers<\/p>\n Set-top boxes<\/p>\n \nAutomotive\/industrial<\/p>\n Advanced driver-assistance systems (\u201cADAS\u201d)*<\/p>\n Autonomous vehicles (\u201cAV\u201d)*<\/p>\n In-vehicle networking*<\/p>\n Industrial ethernet switches<\/p>\n United States military and government solutions<\/p>\n Video surveillance<\/p>\n \n* These customer products and applications were divested as part of the automotive ethernet business sale on August 14, 2025.<\/p>\n \nQuarterly Revenue Trend (Unaudited) (Continued)<\/p>\n \u00a0<\/p>\n \n\u00a0<\/p>\n \nThree Months Ended<\/p>\n \n\u00a0<\/p>\n \n% Change<\/p>\n \nRevenue by End Market<\/p>\n \n(In millions)<\/p>\n \nMay 2, \n\u00a0<\/p>\n \nJanuary 31, \n\u00a0<\/p>\n \nMay 3, \n\u00a0<\/p>\n \nYoY<\/p>\n \n\u00a0<\/p>\n \nQoQ<\/p>\n \nData center<\/p>\n \n$<\/p>\n \n1,832.7<\/p>\n \n\u00a0<\/p>\n \n$<\/p>\n \n1,651.3<\/p>\n \n\u00a0<\/p>\n \n$<\/p>\n \n1,440.6<\/p>\n \n\u00a0<\/p>\n \n27<\/p>\n \n%<\/p>\n \n\u00a0<\/p>\n \n11<\/p>\n \n%<\/p>\n \nCommunications and other<\/p>\n \n\u00a0<\/p>\n \n585.1<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n567.4<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n454.7<\/p>\n \n\u00a0<\/p>\n \n29<\/p>\n \n%<\/p>\n \n\u00a0<\/p>\n \n3<\/p>\n \n%<\/p>\n \nTotal Net Revenue<\/p>\n \n$<\/p>\n \n2,417.8<\/p>\n \n\u00a0<\/p>\n \n$<\/p>\n \n2,218.7<\/p>\n \n\u00a0<\/p>\n \n$<\/p>\n \n1,895.3<\/p>\n \n\u00a0<\/p>\n \n28<\/p>\n \n%<\/p>\n \n\u00a0<\/p>\n \n9<\/p>\n \n%<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \nThree Months Ended<\/p>\n \nRevenue by End Market<\/p>\n \n% of Total<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \nMay 2, \n\u00a0<\/p>\n \nJanuary 31, \n\u00a0<\/p>\n \nMay 3, \nData center<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n76<\/p>\n \n%<\/p>\n \n\u00a0<\/p>\n \n74<\/p>\n \n%<\/p>\n \n\u00a0<\/p>\n \n76<\/p>\n \n%<\/p>\n \nCommunications and other<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n24<\/p>\n \n%<\/p>\n \n\u00a0<\/p>\n \n26<\/p>\n \n%<\/p>\n \n\u00a0<\/p>\n \n24<\/p>\n \n%<\/p>\n \nTotal Net Revenue<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n100<\/p>\n \n%<\/p>\n \n\u00a0<\/p>\n \n100<\/p>\n \n%<\/p>\n \n\u00a0<\/p>\n \n100<\/p>\n \n%<\/p>\n \n\u00a0<\/p>\n View source version on businesswire.com: https:\/\/www.businesswire.com\/news\/home\/20260527144543\/en\/<\/a><\/p>\n
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