EX-99.1 2 q127_8kx522026ex-991.htm EXHIBIT 99.1 Document Exhibit 99.1 Marvell Technology, Inc. Reports First Quarter of Fiscal Year 2027 Financial Results • Q1 Net Revenue: $2.418 billion, a new record, grew by 28% year-on-year • Q1 Gross Margin: 52.1% GAAP gross margin; 58.9% non-GAAP gross margin • Q1 Diluted income per share: $0.04 GAAP diluted income per share; $0.80 non-GAAP diluted income per share Santa Clara, Calif. (May 27, 2026) - Marvell Technology, Inc. (NASDAQ: MRVL), a leader in data infrastructure semiconductor solutions, today reported financial results for the first quarter of fiscal year 2027. Net revenue for the first quarter of fiscal 2027 was $2.418 billion, $18.0 million above the mid-point of the Company’s guidance provided on March 5, 2026. GAAP net income for the first quarter of fiscal 2027 was $34.5 million, or $0.04 per diluted share. Non-GAAP net income for the first quarter of fiscal 2027 was $718.0 million, or $0.80 per diluted share. Cash flow from operations for the first quarter was $638.8 million, a record high. The Company completed the acquisition of Celestial AI, Inc. (“Celestial”) on February 2, 2026 and the acquisition of XConn …
Open exhibit ↗Current Report · Items 2.02, 9.01 · 8-K
Marvell Technology, Inc.
MRVLNASDAQEQUITYCurrent
Results of Operations and Financial Condition
Item 2.02 Results of Operations and Financial Condition. The information in Item 2.02 of this Current Report, including the accompanying Exhibit 99.1, is being furnished and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of Section 18.…
Company context
To deliver the data infrastructure technology that connects the world, we’re building solutions on the most powerful foundation: our partnerships with our customers. Trusted by the world’s leading technology companies for over 30 years, we move, store, process and secure the world’s data with semiconductor solutions designed for our customers’ current needs and future ambitions. Through a process of deep collaboration and transparency, we’re ultimately changing the way tomorrow’s enterprise, cloud and carrier architectures transform - for the better.