Marvell Technology, Inc. | |
Outlook for the Third Quarter of Fiscal Year 2025 | |
Reconciliations from GAAP to Non-GAAP (Unaudited) | |
(In millions, except per share amounts) | |
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| Outlook for Three Months Ended November 2, 2024 |
GAAP net revenue | $1,450 +/- 5% |
Special items: | — |
Non-GAAP net revenue | $1,450 +/- 5% |
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GAAP gross margin | ~ 47.2% |
Special items: |
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Stock-based compensation | 0.7 % |
Amortization of acquired intangible assets | 13.1 % |
Non-GAAP gross margin | ~ 61% |
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Total GAAP operating expenses | ~ $693 |
Special items: |
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Stock-based compensation | 144 |
Amortization of acquired intangible assets | 84 |
Total non-GAAP operating expenses | ~ $465 |
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GAAP diluted loss per share | $(0.09) +/- $0.05 |
Special items: |
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Stock-based compensation | 0.18 |
Amortization of acquired intangible assets | 0.31 |
Non-GAAP diluted net income per share | $0.40 +/- $0.05 |
Quarterly Revenue Trend (Unaudited)
Our product solutions serve five large end markets where our technology is essential: (i) data center, (ii) enterprise networking, (iii) carrier infrastructure, (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 AI servers • Cloud and on-premise general-purpose servers • Cloud and on-premise storage area networks • Cloud and on-premise storage systems • Data center interconnect (DCI) |
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 |
Carrier infrastructure | • Broadband access systems • Ethernet switches • Optical transport systems • Routers • Wireless radio access network (RAN) systems |
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 |
Quarterly Revenue Trend (Unaudited) (Continued) | |||||||||
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| Three Months Ended |
| % Change | ||||||
| Revenue by End Market (In millions) | August 3,
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| May 4,
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| July 29,
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| YoY |
| QoQ |
| Data center | $ 880.9 |
| $ 816.4 |
| $ 459.8 |
| 92 % |
| 8 % |
| Enterprise networking | 151.0 |
| 153.1 |
| 327.7 |
| (54) % |
| (1) % |
| Carrier infrastructure | 75.9 |
| 71.8 |
| 275.5 |
| (72) % |
| 6 % |
| Consumer | 88.9 |
| 42.0 |
| 167.7 |
| (47) % |
| 112 % |
| Automotive/industrial | 76.2 |
| 77.6 |
| 110.2 |
| (31) % |
| (2) % |
| Total Net Revenue | $ 1,272.9 |
| $ 1,160.9 |
| $ 1,340.9 |
| (5) % |
| 10 % |
