Form 10-Q · Quarterly report
Marvell Technology 10-Q, filed Aug 28, 2026
- Filed
- CIK
- 0001835632
- Accession no.
- 0001835632-26-000025
Summary
Marvell Technology reported second-quarter fiscal 2027 net revenue of $2.74 billion, up 37% year over year, driven by 46% growth in data center sales on AI-related demand and a 10% increase in communications and other. The company also disclosed completed acquisitions of Celestial AI and XConn Technologies, a strategic partnership with Nvidia alongside a $2.0 billion preferred stock issuance to Nvidia, and a customer warrant for up to 59.0 million shares at $206.58.
Key points
- Net revenue was $2.74 billion, up 37% from $2.01 billion a year earlier, with data center sales up 46% and communications and other up 10%, partly offset by the divested automotive ethernet business.
- Marvell completed the acquisitions of Celestial AI and XConn Technologies in February 2026 and issued $2.0 billion of Series A convertible preferred stock to Nvidia on March 31, 2026 under a strategic partnership covering custom XPUs and scale-up networking.
- Marvell repurchased 2.5 million shares for $400.0 million in the six months ended August 1, 2026, returning $507.7 million to stockholders including $107.7 million in dividends, with $5.1 billion remaining under its repurchase authorization.
- Sales to customers with operations in Asia were about 84% of net revenue, and four customers accounted for 72% of gross accounts receivable, with Distributor A at 44% of net revenue.
Written by an AI model from the filing text. It can be incomplete or wrong; the filing on SEC.gov is the record.
From the filing
Item 2. Management’s Discussion Overview We are a leading supplier of data infrastructure semiconductor solutions, spanning the data center core to network edge. We are a fabless supplier of high-performance semiconductor products with core strengths in developing and scaling complex System-on-a-Chip architectures, integrating analog, mixed-signal and digital signal processing functionality. Leveraging leading intellectual property and deep system-level expertise, as well as highly innovative security firmware, our solutions are empowering the data economy and enabling the data center and communications and other end markets. …
An excerpt of the text as filed with the SEC, cut for length.
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