Marvell Technology, Inc. Reports Second Quarter of Fiscal Year 2022 Financial Results

 

 Marvell Technology, Inc.

 Outlook for the Third Quarter of Fiscal Year 2022

Reconciliations from GAAP to Non-GAAP (Unaudited)

 (In millions, except per share amounts)






Outlook for Three Months Ended
October 30, 2021

GAAP net revenue

$1,145 +/- 3%

Special items:

Non-GAAP net revenue

$1,145 +/- 3%



GAAP gross margin

46.3% - 48.3%

Special items:


Share-based compensation

0.9%

Amortization of acquired intangible assets

14.7%

Other costs of goods sold

1.6%

Non-GAAP gross margin

64% - 65%



Total GAAP operating expenses

$584 - $594

Special items:


Share-based compensation

103

Amortization of acquired intangible assets

109

Restructuring related charges

4

Other operating expenses

5

Total non-GAAP operating expenses

$365 - $370





GAAP diluted net loss per share

 $(0.10) +/- $0.04

Special items:


Share-based compensation

0.14

Amortization of acquired intangible assets

0.35

Other operating expenses

0.01

Other income tax effects and adjustments

(0.02)

Non-GAAP diluted net income per share

$0.38 +/- $0.03

Quarterly Revenue Trend (Unaudited)

Our product solutions serve five large end markets where our technology is essential: (i) data center, (ii) carrier infrastructure, (iii) enterprise networking, (iv) consumer, and (v) automotive/industrial. These markets and their corresponding customer products and applications are noted in the table below:

End market

Customer products and applications

Data center

Cloud and on-premise Artificial intelligence (AI) systems

Cloud and on-premise ethernet switching

Cloud and on-premise network-attached storage (NAS)

Cloud and on-premise servers

Cloud and on-premise storage area networks

Cloud and on-premise storage systems

Data center interconnect (DCI)

Carrier infrastructure

Digital Subscriber Line Access Multiplexers (DSLAMs)

Ethernet switches

Optical transport systems

Routers

Wireless radio access network (RAN) systems

Enterprise networking

Campus and small medium enterprise routers

Campus and small medium enterprise ethernet switches

Campus and small medium enterprise wireless access points (WAPs)

Network appliances (firewalls, and load balancers)

Workstations

Consumer

Broadband gateways and routers

Gaming consoles

Home data storage

Home wireless access points (WAPs)

Personal Computers (PCs)

Printers

Set-top boxes

Automotive/industrial

Advanced driver-assistance systems (ADAS)

Autonomous vehicles (AV)

In-vehicle networking

Industrial ethernet switches

United States military and government solutions

Video surveillance


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