Marvell Technology reported record revenue for its fiscal year 2026, reflecting continued demand for AI infrastructure and data center connectivity silicon. The company posted $2.219 billion in revenue for the fourth quarter ended January 31, 2026, representing a 22% increase year-over-year and exceeding the midpoint of its guidance.
For the quarter, Marvell reported GAAP net income of $396.1 million, or $0.46 per diluted share, while non-GAAP net income reached $685.1 million, or $0.80 per diluted share. Gross margin for the quarter was 51.7% on a GAAP basis and 59.0% on a non-GAAP basis. Operating cash flow totaled $373.7 million. The company attributed the growth primarily to strong demand for AI-related data center silicon and networking infrastructure.
For the full fiscal year, Marvell generated $8.195 billion in revenue, up 42% year-over-year and the highest annual revenue in the company’s history. GAAP net income totaled $2.670 billion, or $3.07 per diluted share, while non-GAAP net income reached $2.466 billion, or $2.84 per diluted share. Looking ahead, Marvell expects continued momentum in its data center segment, projecting fiscal Q1 2027 revenue of approximately $2.4 billion and incorporating the recently closed acquisitions of Celestial AI and XConn Technologies.
- Q4 FY2026 revenue reached $2.219 billion, up 22% year-over-year and above guidance.
- Q4 GAAP diluted EPS was $0.46; non-GAAP diluted EPS was $0.80.
- Q4 GAAP gross margin was 51.7%; non-GAAP gross margin was 59.0%.
- Fiscal 2026 revenue totaled $8.195 billion, up 42% year-over-year.
- Fiscal 2026 GAAP EPS reached $3.07; non-GAAP EPS was $2.84.
- Q1 FY2027 revenue forecast: $2.4 billion ±5%.
- Q1 FY2027 GAAP gross margin expected at 51.4%–52.4%; non-GAAP gross margin expected at 58.25%–59.25%.
- Q1 FY2027 GAAP EPS expected at $0.31 ±$0.05; non-GAAP EPS expected at $0.79 ±$0.05.
- Outlook includes financial contribution from the recently closed acquisitions of Celestial AI and XConn Technologies.
Matt Murphy, Marvell’s Chairman and CEO, said the company delivered “record fiscal 2026 revenue of $8.195 billion, growing 42% year-over-year, driven by robust AI demand… We expect year-over-year revenue growth to accelerate each quarter in fiscal 2027, driven by continued strength in our data center business, with bookings continuing to grow at a record pace.”
🌐 Analysis: Marvell’s results highlight the continued surge in AI-driven infrastructure spending, particularly across hyperscale data center networks and accelerator connectivity. The company has expanded its portfolio across custom silicon, coherent optics, Ethernet switching, and emerging AI interconnect technologies, including recent moves to add optical compute connectivity through Celestial AI and high-performance switch fabrics through XConn.
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