Marvell Technology, Inc. Q4 FY2026 Earnings Call

· Earnings call transcript and AI-powered summary

Quarterly & Annual Performance Highlights

  • Q4 FY26 revenue hit a record $2.219B, up 7% sequentially and 22% year-over-year, beating guidance due to strong data center demand.
  • Non-GAAP EPS was $0.80, slightly above guidance and +33% y/y.
  • FY26 revenue reached $8.195B, up 42% y/y (+45% excluding divested automotive Ethernet business). Data center revenue surpassed $6B, up 46% y/y.
  • Non-GAAP operating margin expanded significantly to 35.3% for FY26 (+640bps y/y). Non-GAAP EPS for FY26 was $2.84, up 81% y/y.
  • Capital returns increased substantially: $2.245B returned to shareholders during FY26.

FY27 & FY28 Outlook

  • Q1 FY27 revenue outlook: $2.4B midpoint (+8% q/q), supported by “record” bookings in data center.
  • FY27 revenue now expected to grow >30% y/y to nearly $11B (up from prior $10B guidance in December 2025 and $9.5B guidance in September 2025).
  • Management expects sequential growth every quarter in FY27, exiting Q4 above $3B revenue.
  • Data center expected to grow ~40% y/y in FY27, led by interconnect (now expected to grow >50% y/y vs prior 30% outlook).
  • FY28 revenue expected to reach ~$15B (+~40% y/y), driven by data center growth approaching 50% y/y. Outlook raised by ~$2B vs December guidance.
  • Celestial AI and XConn expected to contribute ~$250M in FY28.

Continue Reading

Unlock the full AI-powered summary with key highlights, financial performance, and analyst Q&A.

Upgrade to Professional
Operator: Good afternoon, and welcome to Marvell Technology Inc. Fourth Quarter and Fiscal Year 2026 Earnings Conference Call. [Operator Instructions] Please note that this event is being recorded. I will now turn the conference over to Mr. Ashish Saran, Senior Vice President of Investor Relations. Thank you. You may begin. Ashish Saran: Good afternoon, everyone. Welcome to Marvell's Fourth Quarter and Fiscal Year 2026 Earnings Call. Joining me today are Matt Murphy, Marvell's Chairman and CEO; Willem Meintjes, CFO; Chris Koopmans, President and COO; and Sandeep Bharathi, President, Data Center Group. Let me remind everyone that certain comments made today include forward-looking statements, which are subject to significant risks and uncertainties that could cause our actual results to differ materially from management's current expectations. Please review the cautionary statements and risk factors contained in our earnings press release, which we filed with the SEC today, and posted on our website, as well as our most recent 8-K, 10-K, 10-Q and other documents filed by us from time to time with the SEC. We do not intend to update our forward-looking statements. During our call today, we will refer to certain non-GAAP financial measures. A reconciliation between our GAAP and non-GAAP financial measures is available on our earnings press release. Let me now turn the call over to Matt for his comments on the quarter. Matt? Matthew Murphy: Thanks, Ashish, and good afternoon, eve

Continue Reading

Unlock the full earnings call transcript with speaker labels and formatted dialogue.

Upgrade to Professional