Marvell Technology, Inc. | |
Outlook for the Fourth Quarter of Fiscal Year 2022 | |
Reconciliations from GAAP to Non-GAAP (Unaudited) | |
(In millions, except per share amounts) | |
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| Outlook for Three Months Ended January 29, 2022 |
GAAP net revenue | $1,320 +/- 3% |
Special items: | — |
Non-GAAP net revenue | $1,320 +/- 3% |
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GAAP gross margin | 47.9% - 49.8% |
Special items: |
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Share-based compensation | 0.8% |
Amortization of acquired intangible assets | 13.8% |
Other costs of goods sold | 1.6% |
Non-GAAP gross margin | ~ 65% |
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Total GAAP operating expenses | $630 - $640 |
Special items: |
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Share-based compensation | 126 |
Amortization of acquired intangible assets | 111 |
Restructuring related charges | 2 |
Other operating expenses | 3 |
Total non-GAAP operating expenses | $390 - $395 |
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GAAP diluted net loss per share | $(0.03) +/- $0.04 |
Special items: |
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Share-based compensation | 0.16 |
Amortization of acquired intangible assets | 0.37 |
Other income tax effects and adjustments | (0.02) |
Non-GAAP diluted net income per share | $0.48 +/- $0.03 |
Quarterly Revenue Trend (Unaudited)
Our product solutions serve five large end markets where our technology is essential: (i) data center, (ii) carrier infrastructure, (iii) enterprise networking, (iv) consumer, and (v) automotive/industrial. These markets and their corresponding customer products and applications are noted in the table below:
End market | Customer products and applications | |
Data center | •
| Cloud and on-premise Artificial intelligence (AI) systems
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Carrier infrastructure | •
| Digital Subscriber Line Access Multiplexers (DSLAMs)
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Enterprise networking | •
| Campus and small medium enterprise routers
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Consumer | •
| Broadband gateways and routers
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Automotive/industrial | •
| Advanced driver-assistance systems (ADAS)
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Quarterly Revenue Trend (Unaudited) (Continued) | |||||||||||||||||
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| Three Months Ended |
| % Change | ||||||||||||||
Revenue by End Market (In thousands) | October 30,
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| July 31, 2021 |
| October 31,
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| YoY |
| QoQ | ||||||||
| Data center | $ | 499,748 |
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| $ | 433,722 |
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| $ | 239,159 |
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| 109 | % |
| 15 | % |
| Carrier infrastructure | 215,108 |
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| 196,656 |
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| 168,584 |
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| 28 | % |
| 9 | % | |||
| Enterprise networking | 247,210 |
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| 222,732 |
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| 158,933 |
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| 56 | % |
| 11 | % | |||
| Consumer | 182,535 |
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| 165,380 |
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| 152,269 |
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| 20 | % |
| 10 | % | |||
| Automotive/industrial | 66,644 |
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| 57,391 |
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| 31,198 |
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| 114 | % |
| 16 | % | |||
| Total Net Revenue | $ | 1,211,245 |
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| $ | 1,075,881 |
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| $ | 750,143 |
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| 61 | % |
| 13 | % |
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| *Results for the three months ended October 30, 2021 include total Innovium revenue from the period of October 5, 2021 to October 30, 2021. |
