# EDGAR Filing Document

**Accession Number:** 0001835632
**File Stem:** 0001835632-26-000006
**Filing Date:** 2026-3
**Character Count:** 46424
**Document Hash:** 0683d153766b11df1a9b35314b03d321
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001835632-26-000006.hdr.sgml**: 20260305

**ACCESSION NUMBER**: 0001835632-26-000006

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 15

**CONFORMED PERIOD OF REPORT**: 20260305

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20260305

**DATE AS OF CHANGE**: 20260305

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Marvell Technology, Inc.
- **CENTRAL INDEX KEY:** 0001835632
- **STANDARD INDUSTRIAL CLASSIFICATION:** SEMICONDUCTORS & RELATED DEVICES [3674]
- **ORGANIZATION NAME:** 04 Manufacturing
- **EIN:** 853971597
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0131

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-40357
- **FILM NUMBER:** 26726111

**BUSINESS ADDRESS:**
- **STREET 1:** 1000 N. WEST STREET
- **STREET 2:** SUITE 1200
- **CITY:** WILMINGTON
- **STATE:** DE
- **ZIP:** 19801
- **BUSINESS PHONE:** (302) 295-4840

**MAIL ADDRESS:**
- **STREET 1:** 1000 N. WEST STREET
- **STREET 2:** SUITE 1200
- **CITY:** WILMINGTON
- **STATE:** DE
- **ZIP:** 19801

?xml version='1.0' encoding='ASCII'? mrvl-20260305

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

_________________________

**FORM 8-K** 

_________________________

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of the** 

**Securities Exchange Act of 1934**

**Date of Report: March 5, 2026**

**(Date of earliest event reported)**

_________________________

![marvell_logo.jpg](mrvl-20260305_g1.jpg)

**MARVELL TECHNOLOGY, INC.**

**(Exact name of registrant as specified in its charter)**

_________________________

---

| | | |
|:---|:---|:---|
| **Delaware** | **001-40357** | **85-3971597** |
| **(State or other jurisdiction of**<br>**incorporation)** | **(Commission File Number)** | **(IRS Employer Identification No.)** |

---

**1000 N. West Street, Suite 1200** 

**Wilmington, Delaware 19801** 

**(Address of principal executive offices, including Zip Code)**

**(302) 295-4840** 

**(Registrant's telephone number, including area code)**

_________________________

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| **Title of each class** | **Trading**<br>**Symbol** | **Name of each exchange**<br>**on which registered** |
| **Common Stock** | **MRVL** | **The Nasdaq Global Select Market** |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Emerging growth company&nbsp;&nbsp;&nbsp;&nbsp;☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.&nbsp;&nbsp;&nbsp;&nbsp;◻

------

**Item 2.02 Results of Operations and Financial Condition.**

*The information in Item 2.02 of this Current Report, including the accompanying Exhibit 99.1, is being furnished and shall not be deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of Section 18. The information in Item 2.02 of this Current Report shall not be incorporated by reference into any registration statement or other document filed pursuant to the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language contained in such filing.*

On March 5, 2026, Marvell Technology, Inc. ("Marvell") issued a press release reporting its financial results for the fourth fiscal quarter and fiscal year 2026 ended January 31, 2026. A copy of the press release is furnished herewith as Exhibit 99.1.

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 ending January 31, 2026. The call will be webcast and can be accessed at the Marvell Investor Relations website at http://investor.marvell.com/. Interested parties may also join the live conference call via telephone by using the 'Call me <sup>TM</sup>' link provided in the press release on February 9, 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 13758656 until Thursday, March 12, 2026.

**Item 9.01&nbsp;&nbsp;&nbsp;&nbsp;Financial Statements and Exhibits.**

**&nbsp;&nbsp;&nbsp;&nbsp;**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;Exhibits.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99.1&nbsp;&nbsp;&nbsp;&nbsp;<u>[Press Release dated March 5, 2026, titled "Marvell Technology, Inc. Reports Fourth Quarter and Fiscal Year 2026 Financial Results"](q426_8kx1312026ex-991.htm)</u>

104&nbsp;&nbsp;&nbsp;&nbsp;Cover Page Interactive Data File (the cover page XBRL tags are embedded within the Inline XBRL document)

------

**SIGNATURE**

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | |
|:---|:---|:---|
| | MARVELL TECHNOLOGY, INC. | MARVELL TECHNOLOGY, INC. |
| Date: March 5, 2026 | By: | /s/ WILLEM MEINTJES |
|  |  | **Willem Meintjes** |
|  |  | ***Chief Financial Officer*** |

---

## Exhibit 99.1

**Exhibit 99.1**![marvell_logoxhorizxblkxrgba.jpg](marvell_logoxhorizxblkxrgba.jpg)

**Marvell Technology, Inc. Reports Fourth Quarter and Fiscal Year 2026** 

**Financial Results** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Q4 Net Revenue: $2.219 billion, a new record, grew by 22% year-on-year

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Q4 Gross Margin: 51.7% GAAP gross margin; 59.0% non-GAAP gross margin

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Q4 Diluted income per share: $0.46 GAAP diluted income per share; $0.80 non-GAAP diluted income per share

**Santa Clara, Calif. (March 5, 2026)** - Marvell Technology, Inc. (NASDAQ: MRVL), a leader in data infrastructure semiconductor solutions, today reported financial results for the fourth fiscal quarter and fiscal year ended January 31, 2026.

Net revenue for the fourth quarter of fiscal 2026 was $2.219 billion, $19.0 million above the mid-point of the Company's guidance provided on December 2, 2025. GAAP net income for the fourth quarter of fiscal 2026 was $396.1 million, or $0.46 per diluted share. Non-GAAP net income for the fourth quarter of fiscal 2026 was $685.1 million, or $0.80 per diluted share. Cash flow from operations for the fourth quarter was $373.7 million.

Net revenue for fiscal 2026 was $8.195 billion, a new record. GAAP net income for fiscal 2026 was $2.670 billion, or $3.07 per diluted share. Non-GAAP net income for fiscal 2026 was $2.466 billion, or $2.84 per diluted share.

"Marvell delivered record fiscal 2026 revenue of $8.195 billion, growing 42% year-over-year, driven by robust AI demand. We also delivered GAAP EPS of $3.07 and non-GAAP EPS of $2.84, up 81% year-over-year, demonstrating the strong operating leverage in our business model," said Matt Murphy, Marvell's Chairman and CEO. "We expect year-over-year revenue growth to accelerate each quarter in fiscal 2027, driven by continued strength in our data center business, with bookings continuing to grow at a record pace. 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** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Net revenue is expected to be $2.400 billion +/- 5%.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• GAAP gross margin is expected to be 51.4% to 52.4%.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Non-GAAP gross margin is expected to be 58.25% to 59.25%.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• GAAP operating expenses are expected to be approximately $872 million.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Non-GAAP operating expenses are expected to be approximately $575 million.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Basic weighted-average shares outstanding are expected to be 876 million.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Diluted weighted-average shares outstanding are expected to be 883 million.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• GAAP diluted net income per share is expected to be $0.31 +/- $0.05 per share.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 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 may also join the live conference call via telephone by using the 'Call me <sup>TM</sup>' link provided in the press release on February 9, 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 13758656 until Thursday, March 12, 2026.

**Discussion of Non-GAAP Financial Measures**

Non-GAAP financial measures exclude the effect of stock-based compensation expense, amortization of acquired intangible assets, gain on sale of business, acquisition and divestiture related costs, restructuring and other related charges (including, but not limited to, asset impairment charges, recognition of contractual obligations, employee severance costs, and facility exit related charges), 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's 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's revenues earned during the periods presented and are expected to contribute to Marvell's future period revenues as well.

Marvell uses a non-GAAP tax rate to compute the non-GAAP tax provision. This non-GAAP tax rate is based on Marvell's estimated annual GAAP income tax forecast, adjusted to account for items excluded from Marvell's 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's 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's geographic mix of revenue and expenses; or changes to Marvell's corporate structure. For the fourth quarter of fiscal 2026, a non-GAAP tax rate of 10.0% has been applied to the non-GAAP financial results.

Marvell 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's 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.

Externally, management believes that investors may find Marvell's non-GAAP financial measures useful in their assessment of Marvell's operating performance and the valuation of Marvell. Internally, Marvell's non-GAAP financial measures are used in the following areas:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Management's evaluation of Marvell's operating performance;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Management's establishment of internal operating budgets;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Management's performance comparisons with internal forecasts and targeted business models; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Management's determination of the achievement and measurement of certain types of compensation including Marvell's annual incentive plan and certain performance-based equity awards (adjustments may vary from award to award).

Non-GAAP financial measures have limitations in that they do not reflect all of the costs associated with the operations of Marvell's 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's 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.

------

**Forward-Looking Statements under the Private Securities Litigation Reform Act of 1995**

------

**About Marvell**

To deliver the data infrastructure technology that connects the world, we're building solutions on the most powerful foundation: our partnerships with our customers. Trusted by the world's leading technology companies for over 30 years, we move, store, process and secure the world's data with semiconductor solutions designed for our customers' current needs and future ambitions. Through a process of deep collaboration and transparency, we're ultimately changing the way tomorrow's enterprise, cloud, and carrier architectures transform—for the better.

*Marvell*<sup>®</sup> *and the Marvell logo are registered trademarks of Marvell and/or its affiliates.* 

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Marvell Technology, Inc.** | **Marvell Technology, Inc.** | **Marvell Technology, Inc.** | **Marvell Technology, Inc.** | **Marvell Technology, Inc.** | **Marvell Technology, Inc.** |
| **Condensed Consolidated Statements of Operations (Unaudited)** | **Condensed Consolidated Statements of Operations (Unaudited)** | **Condensed Consolidated Statements of Operations (Unaudited)** | **Condensed Consolidated Statements of Operations (Unaudited)** | **Condensed Consolidated Statements of Operations (Unaudited)** | **Condensed Consolidated Statements of Operations (Unaudited)** |
| **(In millions, except per share amounts)** | **(In millions, except per share amounts)** | **(In millions, except per share amounts)** | **(In millions, except per share amounts)** | **(In millions, except per share amounts)** | **(In millions, except per share amounts)** |
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Year Ended** | **Year Ended** |
| | **January 31,<br>2026** | **November 1,<br>2025** | **February 1,<br>2025** | **January 31,<br>2026** | **February 1,<br>2025** |
| &nbsp;&nbsp;&nbsp;&nbsp;Net revenue | $2218.7 | $2074.5 | $1817.4 | $8194.6 | $5767.3 |
| &nbsp;&nbsp;&nbsp;&nbsp;Cost of goods sold | 1070.8 | 1004.7 | 900.0 | 4013.9 | 3385.1 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gross profit | 1147.9 | 1069.8 | 917.4 | 4180.7 | 2382.2 |
| &nbsp;&nbsp;&nbsp;&nbsp;Operating expenses: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Research and development | 536.0 | 512.5 | 499.0 | 2075.2 | 1950.4 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Selling, general and administrative | 198.0 | 189.9 | 195.7 | 767.1 | 798.2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Restructuring related charges (gains), net | 9.5 | 9.6 | (12.5) | 15.5 | 353.9 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total operating expenses | 743.5 | 712.0 | 682.2 | 2857.8 | 3102.5 |
| &nbsp;&nbsp;&nbsp;&nbsp;Operating income (loss) | 404.4 | 357.8 | 235.2 | 1322.9 | (720.3) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest expense | (50.8) | (51.2) | (45.0) | (202.6) | (189.4) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest income and other, net | 28.0 | 1908.8 | 9.6 | 1926.3 | 15.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest and other income (loss), net | (22.8) | 1857.6 | (35.4) | 1723.7 | (174.4) |
| &nbsp;&nbsp;&nbsp;&nbsp;Income (loss) before income taxes | 381.6 | 2215.4 | 199.8 | 3046.6 | (894.7) |
| &nbsp;&nbsp;&nbsp;&nbsp;Provision (benefit) for income taxes | (14.5) | 314.1 | (0.4) | 376.5 | (9.7) |
| &nbsp;&nbsp;&nbsp;&nbsp;Net income (loss) | $396.1 | $1901.3 | $200.2 | $2670.1 | $(885.0) |
| &nbsp;&nbsp;&nbsp;&nbsp;Net income (loss) per share — basic | $0.47 | $2.22 | $0.23 | $3.10 | $(1.02) |
| &nbsp;&nbsp;&nbsp;&nbsp;Net income (loss) per share — diluted | $0.46 | $2.20 | $0.23 | $3.07 | $(1.02) |
| &nbsp;&nbsp;&nbsp;&nbsp;Weighted-average shares: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Basic | 848.0 | 855.8 | 865.7 | 861.0 | 865.5 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Diluted | 856.2 | 863.7 | 879.9 | 869.7 | 865.5 |

---

------

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| | | |
|:---|:---|:---|
| **Marvell Technology, Inc.** | **Marvell Technology, Inc.** | **Marvell Technology, Inc.** |
| **Condensed Consolidated Balance Sheets (Unaudited)** | **Condensed Consolidated Balance Sheets (Unaudited)** | **Condensed Consolidated Balance Sheets (Unaudited)** |
| **(In millions)** | **(In millions)** | **(In millions)** |
| | **January 31,<br>2026** | **February 1,<br>2025** |
| &nbsp;&nbsp;&nbsp;&nbsp;**Assets** | | |
| &nbsp;&nbsp;&nbsp;&nbsp;Current assets: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cash and cash equivalents | $2638.8 | $948.3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts receivable, net | 2186.6 | 1028.4 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Inventories | 1388.0 | 1029.7 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prepaid expenses and other current assets | 247.2 | 113.9 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current assets | 6460.6 | 3120.3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Property and equipment, net | 935.0 | 790.5 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Goodwill | 11062.2 | 11586.9 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Acquired intangible assets, net | 1754.7 | 2710.6 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred tax assets | 345.9 | 401.2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other non-current assets | 1726.9 | 1595.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total assets | $22285.3 | $20204.5 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Liabilities and Stockholders' Equity** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Current liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts payable | $1073.8 | $622.2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accrued liabilities | 1337.1 | 972.6 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accrued employee compensation | 309.8 | 302.5 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Short-term debt | 499.8 | 129.5 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current liabilities | 3220.5 | 2026.8 |
| &nbsp;&nbsp;&nbsp;&nbsp;Long-term debt | 3970.8 | 3934.3 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other non-current liabilities | 785.6 | 816.4 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | 7976.9 | 6777.5 |
| &nbsp;&nbsp;&nbsp;&nbsp;Stockholders' equity: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Common stock | 1.7 | 1.7 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Additional paid-in capital | 12950.9 | 14534.1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accumulated other comprehensive income |  | 0.4 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Retained earnings (Accumulated deficit) | 1355.8 | (1109.2) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total stockholders' equity | 14308.4 | 13427.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities and stockholders' equity | $22285.3 | $20204.5 |

---

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---

| | | | | |
|:---|:---|:---|:---|:---|
| **Marvell Technology, Inc.** | **Marvell Technology, Inc.** | **Marvell Technology, Inc.** | **Marvell Technology, Inc.** | **Marvell Technology, Inc.** |
| **Condensed Consolidated Statements of Cash Flows (Unaudited)** | **Condensed Consolidated Statements of Cash Flows (Unaudited)** | **Condensed Consolidated Statements of Cash Flows (Unaudited)** | **Condensed Consolidated Statements of Cash Flows (Unaudited)** | **Condensed Consolidated Statements of Cash Flows (Unaudited)** |
| **(In millions)** | **(In millions)** | **(In millions)** | **(In millions)** | **(In millions)** |
| | **Three Months Ended** | **Three Months Ended** | **Year Ended** | **Year Ended** |
| | **January 31,<br>2026** | **February 1,<br>2025** | **January 31,<br>2026** | **February 1,<br>2025** |
| &nbsp;&nbsp;&nbsp;&nbsp;**Cash flows from operating activities:** | | | | |
| &nbsp;&nbsp;&nbsp;&nbsp;Net income (loss) | $396.1 | $200.2 | $2670.1 | $(885.0) |
| &nbsp;&nbsp;&nbsp;&nbsp;Adjustments to reconcile net income (loss) to net cash provided by operating activities: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization | 93.4 | 78.8 | 348.6 | 304.3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stock-based compensation | 143.0 | 147.6 | 590.8 | 597.4 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amortization of acquired intangible assets | 223.6 | 247.1 | 942.0 | 1052.6 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Restructuring related charges (gains), net |  | 4.7 | (14.0) | 528.8 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred income taxes | 44.4 | (5.7) | 42.2 | (111.9) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gain on sale of business |  |  | (1830.4) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other expense, net | 24.4 | 23.8 | 109.5 | 65.9 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Changes in assets and liabilities, net of acquisitions: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts receivable | (640.2) | (30.5) | (1158.2) | 93.2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prepaid expenses and other assets | 41.1 | (172.8) | (242.4) | 3.4 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Inventories | (370.5) | (169.8) | (389.8) | (230.0) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts payable | 378.4 | 71.7 | 299.3 | 181.5 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accrued employee compensation | 57.5 | 31.6 | (10.5) | 43.5 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accrued liabilities and other non-current liabilities | (17.5) | 87.3 | 393.3 | 37.5 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash provided by operating activities | 373.7 | 514.0 | 1750.5 | 1681.2 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Cash flows from investing activities:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Purchases of technology licenses | (1.1) | (0.8) | (4.5) | (7.0) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Purchases of property and equipment | (114.3) | (69.9) | (354.1) | (284.6) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Proceeds from sales of property and equipment |  |  | 27.4 | 0.5 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Acquisitions, net of cash acquired |  |  |  | (10.4) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net proceeds from sale of business |  |  | 2478.6 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other, net | (6.7) | 0.4 | (49.6) | 0.8 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash provided by (used in) investing activities | (122.1) | (70.3) | 2097.8 | (300.7) |
| &nbsp;&nbsp;&nbsp;&nbsp;**Cash flows from financing activities:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Repurchases of common stock | (200.1) | (200.0) | (2040.1) | (725.0) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Proceeds from employee stock plans | 27.2 | 35.2 | 78.7 | 87.6 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tax withholding paid on behalf of employees for net share settlement | (77.3) | (84.6) | (240.7) | (274.9) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dividend payments to stockholders | (50.8) | (51.9) | (205.1) | (207.5) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Payments on technology license obligations | (26.3) | (29.2) | (128.3) | (153.6) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Proceeds from borrowings |  |  | 1198.6 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Principal payments of debt |  | (32.8) | (790.6) | (109.4) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other, net |  | (0.2) | (30.3) | (0.2) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash used in financing activities | (327.3) | (363.5) | (2157.8) | (1383.0) |
| &nbsp;&nbsp;&nbsp;&nbsp;Net increase (decrease) in cash and cash equivalents | (75.7) | 80.2 | 1690.5 | (2.5) |
| &nbsp;&nbsp;&nbsp;&nbsp;Cash and cash equivalents at beginning of period | 2714.5 | 868.1 | 948.3 | 950.8 |
| &nbsp;&nbsp;&nbsp;&nbsp;Cash and cash equivalents at end of period | $2638.8 | $948.3 | $2638.8 | $948.3 |

---

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Marvell Technology, Inc.** | **Marvell Technology, Inc.** | **Marvell Technology, Inc.** | **Marvell Technology, Inc.** | **Marvell Technology, Inc.** | **Marvell Technology, Inc.** |
| **Reconciliations from GAAP to Non-GAAP (Unaudited)** | **Reconciliations from GAAP to Non-GAAP (Unaudited)** | **Reconciliations from GAAP to Non-GAAP (Unaudited)** | **Reconciliations from GAAP to Non-GAAP (Unaudited)** | **Reconciliations from GAAP to Non-GAAP (Unaudited)** | **Reconciliations from GAAP to Non-GAAP (Unaudited)** |
| **(In millions, except per share amounts)** | **(In millions, except per share amounts)** | **(In millions, except per share amounts)** | **(In millions, except per share amounts)** | **(In millions, except per share amounts)** | **(In millions, except per share amounts)** |
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Year Ended** | **Year Ended** |
| | **January 31,<br>2026** | **November 1,<br>2025** | **February 1,<br>2025** | **January 31,<br>2026** | **February 1,<br>2025** |
| &nbsp;&nbsp;&nbsp;&nbsp;GAAP gross profit | $1147.9 | $1069.8 | $917.4 | $4180.7 | $2382.2 |
| &nbsp;&nbsp;&nbsp;&nbsp;Special items - expenses (income): |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stock-based compensation | 10.5 | 14.1 | 10.1 | 49.2 | 47.3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amortization of acquired intangible assets | 148.8 | 153.4 | 169.5 | 639.0 | 721.7 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Restructuring related charges (a) |  | 0.5 | 1.1 | 0.5 | 357.9 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other cost of goods sold (b) | 1.6 | 0.3 | (6.1) | 2.4 | 11.5 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total special items | 160.9 | 168.3 | 174.6 | 691.1 | 1138.4 |
| &nbsp;&nbsp;&nbsp;&nbsp;Non-GAAP gross profit | $1308.8 | $1238.1 | $1092.0 | $4871.8 | $3520.6 |
| &nbsp;&nbsp;&nbsp;&nbsp;GAAP gross margin | 51.7% | 51.6% | 50.5% | 51.0% | 41.3% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stock-based compensation | 0.5% | 0.7% | 0.6% | 0.6% | 0.8% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amortization of acquired intangible assets | 6.7% | 7.4% | 9.3% | 7.8% | 12.5% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Restructuring related charges (a) | —% | —% | 0.1% | —% | 6.2% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other cost of goods sold (b) | 0.1% | —% | (0.4)% | 0.1% | 0.2% |
| &nbsp;&nbsp;&nbsp;&nbsp;Non-GAAP gross margin | 59.0% | 59.7% | 60.1% | 59.5% | 61.0% |
| &nbsp;&nbsp;&nbsp;&nbsp;Total GAAP operating expenses | $743.5 | $712.0 | $682.2 | $2857.8 | $3102.5 |
| &nbsp;&nbsp;&nbsp;&nbsp;Special items - (expenses) income: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stock-based compensation | (132.5) | (138.0) | (137.5) | (541.6) | (550.1) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amortization of acquired intangible assets | (74.8) | (75.6) | (77.6) | (303.0) | (330.9) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Restructuring related charges (a) | (9.5) | (9.6) | 12.5 | (15.5) | (353.9) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other (c) | (9.7) | (3.8) | (0.2) | (16.9) | (11.7) |
| &nbsp;&nbsp;&nbsp;&nbsp;Total special items | (226.5) | (227.0) | (202.8) | (877.0) | (1246.6) |
| &nbsp;&nbsp;&nbsp;&nbsp;Total non-GAAP operating expenses | $517.0 | $485.0 | $479.4 | $1980.8 | $1855.9 |
| &nbsp;&nbsp;&nbsp;&nbsp;GAAP operating margin | 18.2% | 17.2% | 12.9% | 16.1% | (12.5)% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stock-based compensation | 6.4% | 7.3% | 8.1% | 7.2% | 10.4% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amortization of acquired intangible assets | 10.1% | 11.0% | 13.6% | 11.6% | 18.3% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Restructuring related charges (a) | 0.4% | 0.5% | (0.6)% | 0.2% | 12.3% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other cost of goods sold (b) | 0.1% | —% | (0.3)% | —% | 0.2% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other (c) | 0.5% | 0.3% | —% | 0.2% | 0.2% |
| &nbsp;&nbsp;&nbsp;&nbsp;Non-GAAP operating margin | 35.7% | 36.3% | 33.7% | 35.3% | 28.9% |

---

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Marvell Technology, Inc.** | **Marvell Technology, Inc.** | **Marvell Technology, Inc.** | **Marvell Technology, Inc.** | **Marvell Technology, Inc.** | **Marvell Technology, Inc.** |
| **Reconciliations from GAAP to Non-GAAP (Unaudited)** | **Reconciliations from GAAP to Non-GAAP (Unaudited)** | **Reconciliations from GAAP to Non-GAAP (Unaudited)** | **Reconciliations from GAAP to Non-GAAP (Unaudited)** | **Reconciliations from GAAP to Non-GAAP (Unaudited)** | **Reconciliations from GAAP to Non-GAAP (Unaudited)** |
| **(In millions, except per share amounts)** | **(In millions, except per share amounts)** | **(In millions, except per share amounts)** | **(In millions, except per share amounts)** | **(In millions, except per share amounts)** | **(In millions, except per share amounts)** |
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Year Ended** | **Year Ended** |
| | **January 31,<br>2026** | **November 1,<br>2025** | **February 1,<br>2025** | **January 31,<br>2026** | **February 1,<br>2025** |
| &nbsp;&nbsp;&nbsp;&nbsp;GAAP interest and other income (loss), net | $(22.8) | $1857.6 | $(35.4) | $1723.7 | $(174.4) |
| &nbsp;&nbsp;&nbsp;&nbsp;Special items - expenses (income): |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gain on sale of business |  | (1830.4) |  | (1830.4) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other (c) | (7.8) | (52.5) | (5.8) | (44.7) | (9.3) |
| &nbsp;&nbsp;&nbsp;&nbsp;Total special items | (7.8) | (1882.9) | (5.8) | (1875.1) | (9.3) |
| &nbsp;&nbsp;&nbsp;&nbsp;Total non-GAAP interest and other loss, net | $(30.6) | $(25.3) | $(41.2) | $(151.4) | $(183.7) |
| &nbsp;&nbsp;&nbsp;&nbsp;GAAP net income (loss) | $396.1 | $1901.3 | $200.2 | $2670.1 | $(885.0) |
| &nbsp;&nbsp;&nbsp;&nbsp;Special items - expenses (income): |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stock-based compensation | 143.0 | 152.1 | 147.6 | 590.8 | 597.4 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amortization of acquired intangible assets | 223.6 | 229.0 | 247.1 | 942.0 | 1052.6 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Restructuring related charges (a) | 9.5 | 10.1 | (11.4) | 16.0 | 711.8 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other cost of goods sold (b) | 1.6 | 0.3 | (6.1) | 2.4 | 11.5 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gain on sale of business |  | (1830.4) |  | (1830.4) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other (c) | 1.9 | (48.7) | (5.6) | (27.8) | 2.4 |
| &nbsp;&nbsp;&nbsp;&nbsp;Pre-tax total special items | 379.6 | (1487.6) | 371.6 | (307.0) | 2375.7 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other income tax effects and adjustments (d) | (90.6) | 241.3 | (40.4) | 102.5 | (113.4) |
| &nbsp;&nbsp;&nbsp;&nbsp;Non-GAAP net income | $685.1 | $655.0 | $531.4 | $2465.6 | $1377.3 |
| &nbsp;&nbsp;&nbsp;&nbsp;GAAP weighted-average shares — basic | 848.0 | 855.8 | 865.7 | 861.0 | 865.5 |
| &nbsp;&nbsp;&nbsp;&nbsp;GAAP weighted-average shares — diluted | 856.2 | 863.7 | 879.9 | 869.7 | 865.5 |
| &nbsp;&nbsp;&nbsp;&nbsp;Non-GAAP weighted-average shares — diluted (e) | 856.2 | 863.7 | 879.9 | 869.7 | 876.8 |
| &nbsp;&nbsp;&nbsp;&nbsp;GAAP diluted net income (loss) per share | $0.46 | $2.20 | $0.23 | $3.07 | $(1.02) |
| &nbsp;&nbsp;&nbsp;&nbsp;Non-GAAP diluted net income per share | $0.80 | $0.76 | $0.60 | $2.84 | $1.57 |

---

------

*(a)* Restructuring and other related items include asset impairment charges, gain on sale of property, recognition of contractual obligations, employee severance costs, facility exit related charges, and other.

*(b)* Other cost of goods sold include an intellectual property licensing claim and product claim related matters.

*(c)* Other costs in operating expenses and interest and other income (loss), net include gain or loss on investments, and acquisition and divestiture related costs.

*(d)* 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 and year ended January 31, 2026, and three months ended November 1, 2025. Other income tax effects and adjustments relate to tax provision based on a non-GAAP income tax rate of 7.0% for the three months and year ended February 1, 2025.

*(e)* In periods of GAAP net loss, non-GAAP diluted weighted-average shares differs from GAAP diluted weighted-average shares due to the non-GAAP net income reported.

------

---

| | |
|:---|:---|
| **Marvell Technology, Inc.** | **Marvell Technology, Inc.** |
| **Outlook for the First Quarter of Fiscal Year 2027** | **Outlook for the First Quarter of Fiscal Year 2027** |
| **Reconciliations from GAAP to Non-GAAP (Unaudited)** | **Reconciliations from GAAP to Non-GAAP (Unaudited)** |
| **(In millions, except per share amounts)** | **(In millions, except per share amounts)** |
| | **Outlook for Three Months Ended<br>May 2, 2026** |
| &nbsp;&nbsp;&nbsp;&nbsp;**GAAP net revenue** | $2,400 +/- 5% |
| &nbsp;&nbsp;&nbsp;&nbsp;Special items: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Non-GAAP net revenue | $2,400 +/- 5% |
| &nbsp;&nbsp;&nbsp;&nbsp;**GAAP gross margin** | 51.4% - 52.4% |
| &nbsp;&nbsp;&nbsp;&nbsp;Special items: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stock-based compensation | 0.65% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amortization of acquired intangible assets | 6.20% |
| &nbsp;&nbsp;&nbsp;&nbsp;Non-GAAP gross margin | 58.25% - 59.25% |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total GAAP operating expenses** | ~$872 |
| &nbsp;&nbsp;&nbsp;&nbsp;Special items: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stock-based compensation | 181 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amortization of acquired intangible assets | 73 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Integration related charges | 31 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Restructuring related charges and other | 12 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total non-GAAP operating expenses | ~$575 |
| &nbsp;&nbsp;&nbsp;&nbsp;**GAAP diluted net income per share** | $0.31 +/- $0.05 |
| &nbsp;&nbsp;&nbsp;&nbsp;Special items: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stock-based compensation | 0.22 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amortization of acquired intangible assets | 0.25 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Integration related charges | 0.04 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Restructuring related charges and other | 0.01 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other income tax effects and adjustments | (0.04) |
| &nbsp;&nbsp;&nbsp;&nbsp;Non-GAAP diluted net income per share | $0.79 +/- $0.05 |

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------

**Quarterly Revenue Trend (Unaudited)**

Our 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:

---

| | |
|:---|:---|
| **End market** | **Customer products and applications** |
| Data center | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Cloud and on-premise Artificial intelligence ("AI") systems<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Cloud and on-premise ethernet switching<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Cloud and on-premise network-attached storage ("NAS")<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Cloud and on-premise AI servers<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Cloud and on-premise general-purpose servers<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Cloud and on-premise storage area networks<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Cloud and on-premise storage systems<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Data center interconnect ("DCI") |
| Communications and other | *Enterprise networking*<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Campus and small medium enterprise routers<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Campus and small medium enterprise ethernet switches<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Campus and small medium enterprise wireless access points ("WAPs")<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Network appliances (firewalls, and load balancers)<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Workstations |
| | *Carrier infrastructure*<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Broadband access systems<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Ethernet switches<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Optical transport systems<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Routers<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Wireless radio access network ("RAN") systems |
| | *Consumer*<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Broadband gateways and routers<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Gaming consoles<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Home data storage<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Home wireless access points ("WAPs")<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Personal Computers ("PCs")<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Printers<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Set-top boxes |
| | *Automotive/industrial*<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Advanced driver-assistance systems ("ADAS")\*<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Autonomous vehicles ("AV")\*<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• In-vehicle networking\*<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Industrial ethernet switches<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• United States military and government solutions<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Video surveillance |

---

*\* These customer products and applications were divested as part of the automotive ethernet business sale on August 14, 2025.*

------

**Quarterly Revenue Trend (Unaudited) (Continued)**

Beginning in the fourth quarter of fiscal 2026, the Company consolidated revenue previously reported separately as enterprise networking, carrier infrastructure, consumer and automotive/industrial end markets into a new communications and other end market, as shown below. The composition of our data center end market remains unchanged.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **% Change** | **% Change** |
| &nbsp;&nbsp;&nbsp;&nbsp;**Revenue by End Market<br>(In millions)** | **January 31,<br>2026** | **November 1,<br>2025** | **February 1,<br>2025** | **YoY** | **QoQ** |
| &nbsp;&nbsp;&nbsp;&nbsp;Data center | $1651.3 | $1517.9 | $1365.8 | 21% | 9% |
| &nbsp;&nbsp;&nbsp;&nbsp;Communications and other | 567.4 | 556.6 | 451.6 | 26% | 2% |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total Net Revenue** | $2218.7 | $2074.5 | $1817.4 | 22% | 7% |

---

---

| | | | |
|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** |
| &nbsp;&nbsp;&nbsp;&nbsp;**Revenue by End Market% of Total** | **January 31,<br>2026** | **November 1,<br>2025** | **February 1,<br>2025** |
| &nbsp;&nbsp;&nbsp;&nbsp;Data center | 74% | 73% | 75% |
| &nbsp;&nbsp;&nbsp;&nbsp;Communications and other | 26% | 27% | 25% |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total Net Revenue** | 100% | 100% | 100% |

---

For further information, contact:

Ashish Saran

Senior Vice President, Investor Relations

408-222-0777

ir@marvell.com

<br>