Marvell Technology (MRVL) Company Report

For the third quarter of fiscal 2026, Marvell delivered record revenue of $2.075 billion, reflecting a 37% year-over-year growth, and non-GAAP earnings per share of $0.76.
The company forecasts total revenue for the fourth quarter of fiscal 2026 at $2.2 billion at the midpoint, representing 21% year-over-year growth, with non-GAAP earnings per diluted share expected in the range of $0.74-$0.84.
Marvell announced the strategic acquisition of Celestial AI, a photonic fabric platform company, expected to close in the first quarter of next fiscal year and contribute meaningful revenue starting in the second half of fiscal 2028.
Looking ahead, the company projects its data center revenue to grow 45% this fiscal year, 25% in fiscal 2027, and 40% in fiscal 2028, with the custom business expected to grow at least 20% in fiscal 2027 and double in fiscal 2028.
Marvell also executed a $1 billion accelerated stock repurchase program and repurchased an additional $300 million through its ongoing buyback program.

2 days ago

Transcript

Marvell Technology Reports Record Q3 2026 Results and Announces Celestial AI Acquisition

MRVL

Earnings

M&A

Guidance Update

Marvell Technology reported record Q3 2026 revenue of $2.075 billion, reflecting a 37% year-over-year increase, and non-GAAP earnings per share of $0.76, representing 77% year-over-year growth.
The company announced the strategic acquisition of Celestial AI, a photonic fabric platform, which is expected to close in Q1 of next fiscal year and is forecasted to reach a $500 million annualized revenue run rate by Q4 FY2028 and $1 billion by Q4 FY2029.
For Q4 2026, Marvell forecasts total company revenue at $2.2 billion at the midpoint and non-GAAP diluted EPS in the range of $0.74 to $0.84.
Marvell anticipates strong growth in fiscal 2027, with Data Center revenue projected to grow more than 25% year-over-year, and expects Data Center revenue growth to accelerate to approximately 40% in fiscal 2028.
In Q3 2026, the company executed a $1 billion accelerated stock repurchase program and repurchased an additional $300 million of stock through its ongoing buyback program.

2 days ago

Transcript

Marvell Announces Strong Q3 FY26 Results and Acquisition of Celestial AI

MRVL

Earnings

M&A

Guidance Update

Marvell reported strong Q3 FY26 financial results, with revenue of $2,075 million, a 37% year-over-year increase, and Non-GAAP EPS of $0.76.
The company announced the acquisition of Celestial AI for $3.25 billion payable at closing, comprising $1.0 billion in cash and approximately 27.2 million shares.
This acquisition is intended to accelerate Marvell's leadership in data center connectivity and is expected to be accretive to non-GAAP earnings in 2H fiscal 2028.
For Q4 FY26, Marvell anticipates revenue of $2,200 million +/- 5% and non-GAAP diluted net income per share of $0.79 +/- $0.05.

2 days ago

Presentation

Marvell Technology Reports Record Q3 2026 Revenue and Announces Celestial AI Acquisition

MRVL

Earnings

M&A

Guidance Update

Marvell Technology reported record Q3 fiscal 2026 revenue of $2.075 billion, a 37% year-over-year increase, with non-GAAP earnings per share of $0.76.
The company announced the strategic acquisition of Celestial AI, a photonic fabric platform, expected to close in Q1 fiscal 2027 and projected to reach a $500 million annualized revenue run rate by Q4 fiscal 2028, doubling to $1 billion by Q4 fiscal 2029.
For Q4 fiscal 2026, Marvell forecasts total company revenue of $2.2 billion at the midpoint.
Marvell expects its data center revenue to grow more than 25% in fiscal 2027 and accelerate to approximately 40% growth in fiscal 2028.
In Q3 fiscal 2026, the company executed a $1 billion accelerated stock repurchase program and repurchased an additional $300 million of stock.

2 days ago

Transcript

Marvell Technology Reports Q3 2026 Financial Results

MRVL

Earnings

For the third quarter of fiscal 2026, ended November 1, 2025, Marvell Technology reported revenue of $2074.5 million, net income of $1901.3 million, and diluted earnings per share of $2.20.
As of November 1, 2025, the company's balance sheet indicated total assets of $21579.0 million and cash and cash equivalents of $2714.5 million.
Net cash provided by operating activities for the third quarter of fiscal 2026 was $582.3 million.
Marvell applies a non-GAAP tax rate of 10.0% for its Q3 2026 non-GAAP financial results and excludes items such as stock-based compensation expense and amortization of acquired intangible assets from its non-GAAP measures.

2 days ago

Presentation

Marvell Announces Acquisition of Celestial AI

MRVL

M&A

New Projects/Investments

Guidance Update

Marvell announced on December 2, 2025, its intent to acquire Celestial AI, a pioneer in Photonic Fabric™ interconnect technology, to accelerate its leadership in data center connectivity.
The transaction consideration includes $3.25 billion payable at closing, consisting of $1.0 billion in cash and approximately 27.2 million shares of Marvell common stock valued at $2.25 billion.
Additionally, there is up to $2.25 billion in contingent consideration tied to milestone achievements, with the full earnout paid if Celestial AI's cumulative revenue exceeds $2.0 billion by the end of Marvell's fiscal year 2029.
Marvell anticipates the acquisition to be accretive to non-GAAP earnings in the second half of fiscal year 2028 and projects Celestial AI to achieve an annualized revenue run rate of $500 million by Q4 fiscal 2028 and $1 billion by Q4 fiscal 2029.
The acquisition is expected to close in the first quarter of calendar 2026, pending customary closing conditions and regulatory approvals.

2 days ago

Presentation

Marvell Technology to Acquire Celestial AI

MRVL

M&A

New Projects/Investments

Revenue Acceleration/Inflection

Marvell Technology, Inc. has entered into a definitive agreement to acquire Celestial AI for an upfront consideration valued at approximately $3.25 billion, consisting of $1.0 billion in cash and approximately 27.2 million shares of Marvell common stock valued at $2.25 billion.
The acquisition also includes potential contingent consideration of up to an additional 27.2 million shares of common stock, valued at approximately $2.25 billion, upon the achievement of certain revenue-based performance milestones, with the full earnout paid if Celestial AI's cumulative revenue exceeds $2.0 billion by the end of Marvell's fiscal year 2029.
This strategic acquisition is intended to accelerate Marvell's connectivity strategy for next-generation AI and cloud data centers by integrating Celestial AI's Photonic Fabric technology for scale-up optical interconnects.
Marvell expects meaningful revenue contributions from Celestial AI to begin in the second half of fiscal 2028, projecting an annualized run rate of $500 million by the fourth quarter of fiscal 2028 and $1 billion by the fourth quarter of fiscal 2029. The transaction is anticipated to close in the first quarter of calendar 2026.

2 days ago

8-K

Marvell Technology, Inc. Reports Record Q3 FY2026 Results and Provides Q4 Outlook

MRVL

Earnings

Guidance Update

M&A

Marvell Technology, Inc. reported record net revenue of $2.075 billion for the third quarter of fiscal year 2026, marking a 37% year-on-year increase.
For Q3 FY2026, the company achieved GAAP diluted income per share of $2.20 and non-GAAP diluted income per share of $0.76.
The company provided a strong outlook for Q4 FY2026, projecting net revenue of $2.200 billion +/- 5% and non-GAAP diluted net income per share of $0.79 +/- $0.05.
Marvell completed the sale of its automotive ethernet business for $2.5 billion in cash and announced the acquisition of Celestial AI, enhancing its AI datacenter infrastructure capabilities.
The data center segment was a primary growth driver, with revenue of $1,517.9 million in Q3 FY2026, up 38% year-on-year, and the company anticipates full-year revenue growth to exceed 40%.

2 days ago

8-K

Marvell Technology, Inc. to acquire Celestial AI Inc. and issues warrant to Amazon.com, Inc.

MRVL

M&A

New Projects/Investments

Convertible Preferred Issuance

Marvell Technology, Inc. announced a definitive agreement to acquire Celestial AI Inc..
In connection with this acquisition, the Company entered into a Transaction Agreement with Amazon.com, Inc., under which Marvell issued a warrant to Amazon.
The warrant allows Amazon to acquire up to 1,045,171 shares of Marvell common stock at an exercise price of $87.0029 per share.
The Warrant Shares will vest based on Amazon’s purchases of photonic fabric products through December 31, 2030, and the warrant can be exercised until December 2, 2031.

2 days ago

8-K

Marvell Technology Nears Acquisition of Celestial AI

MRVL

M&A

New Projects/Investments

Marvell Technology is nearing a strategic acquisition of Celestial AI, a startup specializing in photonic interconnects, in a cash-and-stock deal potentially valued at over $5 billion.
This acquisition aims to integrate Celestial AI's photonic technology with Marvell's existing semiconductor offerings to address AI data center infrastructure bottlenecks and improve efficiency.
The deal is expected to reduce Marvell's dependence on third-party optical technology suppliers and accelerate product development, with an official announcement possibly coinciding with Marvell's Q3 fiscal 2026 earnings report.

3 days ago

Bloomberg

Earnings Transcripts

Quarterly earnings call transcripts for Marvell Technology.

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