Marvell Technology, Inc. Reports Third Quarter of Fiscal Year 2023 Financial Results

 

 

Marvell Technology, Inc.

Reconciliations from GAAP to Non-GAAP (Unaudited)

(In millions, except per share amounts)














Three Months Ended


Nine Months Ended



October 29,
2022


July 30,
2022


October 30,
2021


October 29,
2022


October 30,
2021

GAAP interest and other income (loss), net


$      (40.5)


$      (35.3)


$      (34.2)


$   (106.4)


$   (103.2)

Special items:











Debt issuance related costs and other (e)


(0.5)


(1.6)


(0.1)


(6.2)


19.8

Total special items


(0.5)


(1.6)


(0.1)


(6.2)


19.8

Total non-GAAP interest and other income (loss), net


$      (41.0)


$      (36.9)


$      (34.3)


$   (112.6)


$      (83.4)


































GAAP net income (loss)


$        13.3


$          4.3


$      (62.6)


$   (148.1)


$   (427.2)

Special items:











Other cost of goods sold (a)


13.0


6.3


21.5


28.6


191.0

Stock-based compensation


146.1


144.5


119.1


421.7


342.8

Restructuring related charges (b)


15.6


1.2


5.9


18.1


31.1

Legal settlement (c)



85.0



100.0


Other operating expenses (d)


13.5


6.0


25.4


32.2


111.1

Amortization of acquired intangible assets


269.9


271.8


279.3


814.2


684.6

Debt issuance related costs and other (e)


(0.5)


(1.6)


(0.1)


(6.2)


19.8

Pre-tax total special items


457.6


513.2


451.1


1,408.6


1,380.4

Other income tax effects and adjustments (f)


20.6


(31.5)


(24.2)


165.4


(103.1)

Non-GAAP net income


$     491.5


$     486.0


$     364.3


$  1,425.9


$     850.1


































GAAP weighted average shares — basic


852.6


850.9


828.6


850.5


781.0

GAAP weighted average shares — diluted


858.4


857.9


828.6


850.5


781.0

Non-GAAP weighted average shares — diluted (g)


858.4


857.9


845.9


859.3


796.8












GAAP diluted net income (loss) per share


$        0.02


$        0.01


$      (0.08)


$      (0.17)


$      (0.55)

Non-GAAP diluted net income per share


$        0.57


$        0.57


$        0.43


$        1.66


$        1.07



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