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Feb 01, 2025
Marvell Q4 2025 Earnings Report
Marvell reported strong revenue growth in Q4 2025, driven by data center demand and custom AI silicon production.
Key Takeaways
Marvell Technology, Inc. delivered record fourth-quarter revenue of $1.817 billion, growing 27% year-over-year. The company reported GAAP net income of $200.2 million ($0.23 per share) and non-GAAP net income of $531.4 million ($0.60 per share). The data center segment led growth, increasing 78% year-over-year, while the company saw continued recovery in its multi-market businesses. Marvell also announced a strong revenue outlook for Q1 FY26, expecting over 60% year-over-year growth.
Record Q4 revenue of $1.817 billion, up 27% YoY.
GAAP EPS of $0.23 and non-GAAP EPS of $0.60.
Data center revenue grew 78% YoY, driving overall growth.
Expecting strong revenue growth of 60% YoY in Q1 FY26.
Revenue by Segment
Forward Guidance
Marvell anticipates strong growth in Q1 FY26, with expected revenue of $1.875 billion (+/- 5%) and a non-GAAP gross margin of approximately 60%.
Positive Outlook
- Q1 FY26 revenue expected to grow over 60% YoY.
- Continued strong demand for AI silicon and interconnect products.
- Multiple new design wins secured for custom silicon programs.
- GAAP EPS guidance of $0.19 +/- $0.05, non-GAAP EPS of $0.61 +/- $0.05.
- Operating expenses expected to decrease on a non-GAAP basis.
Challenges Ahead
- Enterprise networking and carrier infrastructure segments saw YoY declines.
- Consumer revenue down 38% YoY, reflecting market challenges.
- GAAP operating expenses expected to be high at approximately $712M.
- Interest expenses remain a headwind for profitability.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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