Marvell Q4 2025 Earnings Report
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.
Marvell
Marvell
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.
- Macroeconomic uncertainties could impact demand in certain end markets.