Marvell said net revenue for fiscal 2025 Q3 was $1.5 billion, up 7% from a year earlier. Revenue from the data center end market rose 98%, while carrier infrastructure fell 73%, enterprise networking fell 44%, consumer fell 43%, and automotive/industrial fell 22%.

10-QQuarterly reportFiled Dec 4, 2024Period of report Nov 2, 2024Summary published (UTC) Oct 23, 2026

Key points

AI summary

Marvell said net revenue for fiscal 2025 Q3 was $1.5 billion, up 7% from a year earlier. Revenue from the data center end market rose 98%, while carrier infrastructure fell 73%, enterprise networking fell 44%, consumer fell 43%, and automotive/industrial fell 22%.
The company said it started a restructuring in fiscal 2025 Q3 to increase research and development investment in the data center end market and reduce new product development investment in other end markets, and that it recognized restructuring-related charges of $715.1 million in that quarter.
The company cited impairment charges of $356.8 million on intangible assets, inventories and property and equipment tied to restructuring as the main reason cost of goods sold rose as a share of revenue this quarter. It said gross margin fell 15.9 percentage points over 3 months and 2.8 percentage points over 9 months.
The company said net cash provided by operating activities was $1.2 billion for the 9 months ended November 2, 2024. The net loss of $1.1 billion was adjusted for non-cash items, including amortization of intangible assets of $805.5 million and restructuring-related impairment charges of $524.1 million.

Key figures

Quarter ended November 2, 2024

Revenue: $1.5B
Operating income: −$703M
Net income: −$676M
EPS: −$0.78
Gross profit: $349M

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.

Quarterly net revenue of $1.5 billion, data center up 98%

Marvell said net revenue for fiscal 2025 Q3 was $1.5 billion, up 7% from a year earlier. Revenue from the data center end market rose 98%, while carrier infrastructure fell 73%, enterprise networking fell 44%, consumer fell 43%, and automotive/industrial fell 22%.

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

Restructuring-related charges of $715.1 million recognized

The company said it started a restructuring in fiscal 2025 Q3 to increase research and development investment in the data center end market and reduce new product development investment in other end markets, and that it recognized restructuring-related charges of $715.1 million in that quarter.

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

Gross margin down 15.9 percentage points over 3 months

The company cited impairment charges of $356.8 million on intangible assets, inventories and property and equipment tied to restructuring as the main reason cost of goods sold rose as a share of revenue this quarter. It said gross margin fell 15.9 percentage points over 3 months and 2.8 percentage points over 9 months.

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

Operating cash flow of $1.2 billion over 9 months

The company said net cash provided by operating activities was $1.2 billion for the 9 months ended November 2, 2024. The net loss of $1.1 billion was adjusted for non-cash items, including amortization of intangible assets of $805.5 million and restructuring-related impairment charges of $524.1 million.

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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