Marvell Technology, Inc. | |
Outlook for the Third Quarter of Fiscal Year 2023 | |
Reconciliations from GAAP to Non-GAAP (Unaudited) | |
(In millions, except per share amounts) | |
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| Outlook for Three Months Ended October 29, 2022 |
GAAP net revenue | $1,560 +/- 3% |
Special items: | — |
Non-GAAP net revenue | $1,560 +/- 3% |
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GAAP gross margin | 51.1% +/- 1.1% |
Special items: |
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Stock-based compensation | 0.7 % |
Amortization of acquired intangible assets | 11.9 % |
Other costs of goods sold | 1.3 % |
Non-GAAP gross margin | 65.0% +/- 0.25% |
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Total GAAP operating expenses | $667 - $677 |
Special items: |
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Stock-based compensation | 139 |
Amortization of acquired intangible assets | 88 |
Restructuring related charges | 2 |
Other operating expenses | 5 |
Total non-GAAP operating expenses | $435 - $440 |
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GAAP diluted net income per share | $0.09 +/- $0.04 |
Special items: |
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Stock-based compensation | 0.17 |
Amortization of acquired intangible assets | 0.32 |
Other cost of goods sold | 0.02 |
Other operating expenses | 0.01 |
Other income tax effects and adjustments | (0.02) |
Non-GAAP diluted net income per share | $0.59 +/- $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 |
