Marvell Technology, Inc.

Semiconductors for data infrastructure

Marvell Technology, Inc. trades on Nasdaq as MRVL. It designs chips for data centers, custom computing, networking, storage and connectivity.

Latest completed results and the preliminary update

Fiscal 2027's second quarter ended August 1, 2026; the comparable quarter ended August 2, 2025. Dollar amounts below are in millions.

Metric	Q2 FY2026	Q2 FY2027
Revenue	$2,006.1	$2,739.3
Reported net income	$194.8	$308.0
Operating cash flow	$461.6	$605.5

In August, Marvell forecast third-quarter revenue of $3.15 billion, plus or minus 5%. On November 2, its preliminary update kept the midpoint and narrowed the range to plus or minus 2%. The update covers the quarter ended October 31; final quarterly results had not been reported in that announcement.

Capital and completed acquisitions

August 1 cash was $3.93 billion, versus $2.64 billion at January 31. The balance sheet carried $4.96 billion of long-term debt and no short-term debt, versus $3.97 billion and $499.8 million at year-end.

Marvell completed its Celestial AI acquisition on February 2, 2026, and XConn Technologies on February 10. NVIDIA invested $2 billion in convertible preferred shares on March 31. That was a financing transaction, separate from operating cash generation.

The proposed Lumentum combination

The November 1 agreement, announced November 2, would exchange 4.5 Marvell common shares for each Lumentum common share. Existing Marvell holders would own about 67% of the combined business and Lumentum holders about 33%, on a fully diluted basis.

The announced $115 billion enterprise value uses October 28 share prices and moves with Marvell's stock. Closing is expected in the first half of 2028, subject to shareholder and regulatory approvals. The companies target more than $1 billion in annual cost savings.

The Lumentum company profile adds its current quarterly performance, forecasts and cash position.