Marvell said net revenue for Q2 of fiscal 2025 was $1.3 billion, down 5% from a year earlier. Revenue from the data center end market rose 92%, while carrier infrastructure fell 72%, enterprise networking fell 54%, consumer fell 47%, and automotive/industrial fell 31%.

10-QQuarterly reportFiled Aug 30, 2024Period of report Aug 3, 2024Summary published (UTC) Oct 23, 2026

Key points

AI summary

Marvell said net revenue for Q2 of fiscal 2025 was $1.3 billion, down 5% from a year earlier. Revenue from the data center end market rose 92%, while carrier infrastructure fell 72%, enterprise networking fell 54%, consumer fell 47%, and automotive/industrial fell 31%.
The company said gross margin for Q2 and for the 6 months rose 7.3 and 5.3 percentage points, respectively, from a year earlier. It cited a shift in product mix and product-related claim costs in Q2 as factors.
The company said net cash provided by operating activities for the 6 months ended August 3, 2024 was $630.9 million. It adjusted the net loss of $408.9 million for non-cash items, including amortization of acquired intangible assets of $540.6 million, and said cash inflow from working capital was $81.8 million.
The company said it returned a total of $428.7 million to stockholders over the 6 months through share repurchases of $325.0 million and cash dividends of $103.7 million. As of August 3, 2024, it had cash and cash equivalents of $808.7 million and total borrowings of $4.2 billion.

Key figures

Quarter ended August 3, 2024

Revenue: $1.3B
Operating income: −$100M
Net income: −$193M
EPS: −$0.22
Gross profit: $588M

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis scope · Management's discussion (MD&A)We analyzed the Management's Discussion and Analysis (MD&A) section. Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

Q2 Net Revenue $1.3 billion, Changes by End Market

Marvell said net revenue for Q2 of fiscal 2025 was $1.3 billion, down 5% from a year earlier. Revenue from the data center end market rose 92%, while carrier infrastructure fell 72%, enterprise networking fell 54%, consumer fell 47%, and automotive/industrial fell 31%.

Source · Based on the MD&A text of the filing

Gross Margin Change and Company Explanation

The company said gross margin for Q2 and for the 6 months rose 7.3 and 5.3 percentage points, respectively, from a year earlier. It cited a shift in product mix and product-related claim costs in Q2 as factors.

Source · Based on the MD&A text of the filing

Operating Cash Flow and Net Loss Adjustments for 6 Months

The company said net cash provided by operating activities for the 6 months ended August 3, 2024 was $630.9 million. It adjusted the net loss of $408.9 million for non-cash items, including amortization of acquired intangible assets of $540.6 million, and said cash inflow from working capital was $81.8 million.

Source · Based on the MD&A text of the filing

Capital Returns and Cash and Borrowings for 6 Months

The company said it returned a total of $428.7 million to stockholders over the 6 months through share repurchases of $325.0 million and cash dividends of $103.7 million. As of August 3, 2024, it had cash and cash equivalents of $808.7 million and total borrowings of $4.2 billion.

Source · Based on the MD&A text of the filing

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

View the original filing on SEC EDGAR ↗

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