U.S. COMPANY FILING
Marvell Technology, Inc. — Form 10-Q filed 2026-05-28
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Marvell reported Q1 FY2027 net revenue of $2.42B, up 28% YoY, driven by strong AI-related data center demand. Net income was $34.5M, down from $177.9M, due to acquisition costs and contingent consideration fair value changes. The company completed acquisitions of Celestial and XConn, and issued $2B convertible preferred stock to NVIDIA. Operating cash flow was $638.8M, with cash at $3.84B.
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