Marvell Technology, Inc. | |
Outlook for the Second Quarter of Fiscal Year 2024 | |
Reconciliations from GAAP to Non-GAAP (Unaudited) | |
(In millions, except per share amounts) | |
|
|
|
|
|
|
|
| Outlook for Three Months Ended July 29, 2023 |
GAAP net revenue | $1,330 +/- 5% |
Special items: | — |
Non-GAAP net revenue | $1,330 +/- 5% |
|
|
|
GAAP gross margin | 44.3% - 46.8% |
Special items: |
|
Stock-based compensation | 0.8 % |
Amortization of acquired intangible assets | 14.1 % |
Non-GAAP gross margin | 60% - 61% |
|
|
|
Total GAAP operating expenses | ~ $694 |
Special items: |
|
Stock-based compensation | 148 |
Amortization of acquired intangible assets | 86 |
Restructuring related charges | 3 |
Other | 2 |
Total non-GAAP operating expenses | ~ $455 |
|
|
|
|
|
|
GAAP diluted net loss per share | $(0.16) +/- $0.05 |
Special items: |
|
Stock-based compensation | 0.18 |
Amortization of acquired intangible assets | 0.31 |
Restructuring related charges and other | 0.01 |
Other income tax effects and adjustments | (0.02) |
Non-GAAP diluted net income per share | $0.32 +/- $0.05 |
Quarterly Revenue Trend (Unaudited)
Our product solutions serve five large end markets where our technology is essential: (i) data center, (ii) enterprise networking, (iii) carrier infrastructure, (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 • Cloud and on-premise ethernet switching • Cloud and on-premise network-attached storage (NAS) • Cloud and on-premise servers • Cloud and on-premise storage area networks • Cloud and on-premise storage systems • Data center interconnect (DCI) |
Enterprise networking | • Campus and small medium enterprise routers • Campus and small medium enterprise ethernet switches • Campus and small medium enterprise wireless access points (WAPs) • Network appliances (firewalls, and load balancers) • Workstations |
Carrier infrastructure | • Broadband access systems • Ethernet switches • Optical transport systems • Routers • Wireless radio access network (RAN) systems |
Consumer | • Broadband gateways and routers • Gaming consoles • Home data storage • Home wireless access points (WAPs) • Personal Computers (PCs) • Printers • Set-top boxes |
| Automotive/industrial | • Advanced driver-assistance systems (ADAS) • Autonomous vehicles (AV) • In-vehicle networking • Industrial ethernet switches • United States military and government solutions • Video surveillance |
