Marvell Technology, Inc. (NASDAQ: MRVL), a leading provider of data infrastructure semiconductor solutions, released its financial results for the fourth quarter and fiscal year ending February 1, 2025, revealing robust performance and strategic advancements.
Financial Highlights
Key financial data from the report includes:
- Q4 Net Revenue: $1.817 billion, reflecting a 27% year-over-year increase.
- Q4 GAAP Gross Margin: 50.5%.
- Q4 Non-GAAP Gross Margin: 60.1%.
- Q4 Diluted Earnings Per Share: $0.23 (GAAP); $0.60 (Non-GAAP).
- Fiscal Year 2025 Net Revenue: $5.767 billion.
- Fiscal Year 2025 GAAP Diluted Loss Per Share: $(1.02).
- Fiscal Year 2025 Non-GAAP Diluted Earnings Per Share: $1.57.
During the fourth quarter, Marvell’s net revenue reached $1.817 billion, surpassing the company’s guidance provided on December 3, 2024. GAAP net income for the quarter was $200.2 million, or $0.23 per diluted share. Non-GAAP net income for the same period was $531.4 million, or $0.60 per diluted share. Cash flow from operations for the fourth quarter was $514.0 million.
For the fiscal year 2025, Marvell recorded net revenue of $5.767 billion. GAAP reported a net loss of $(885.0) million, or $(1.02) per diluted share. However, non-GAAP net income reached $1.377 billion, or $1.57 per diluted share.
CEO’s Commentary
Matt Murphy, Marvell’s Chairman and CEO, commented on the results, stating, “We closed fiscal year 2025 on a high note, delivering record fourth-quarter revenue of $1.817 billion – an increase of 20% sequentially and 27% year-over-year. This performance was driven by strong growth in our data center end market, where revenue increased 78% year-over-year in the fourth quarter, along with a continued recovery in our multi-market businesses. For the full fiscal year, we delivered a record $1.68 billion in operating cash flow and returned $933 million to stockholders through stock repurchases and dividends.”
Murphy added, “Our custom AI silicon programs have now entered volume production, and we continue to see strong growth from our interconnect products. Marvell has secured multiple new design wins, including several custom silicon programs that will fuel future growth. We are well positioned for a strong start to fiscal 2026. We expect first-quarter revenue growth of over 60 percent year-over-year at the mid-point of guidance, and we anticipate strong revenue growth for the full fiscal year.”
Fiscal Year 2026 Outlook
Looking ahead to the first quarter of fiscal 2026, Marvell anticipates:
- Net Revenue: $1.875 billion +/- 5%.
- GAAP Gross Margin: Approximately 50.5%.
- Non-GAAP Gross Margin: Approximately 60%.
- Non-GAAP Diluted Earnings Per Share: $0.61 +/- $0.05.
Marvell will hold a conference call on Wednesday, March 5, 2025, to discuss these results in further detail. The call will begin at 1:45 p.m. Pacific Time, and interested parties can register and join the call seamlessly through an automated callback system.
These forward-looking statements reflect Marvell’s current expectations, but actual results may vary due to risks and uncertainties detailed in the company’s SEC filings.
