Marvell Technology, Inc. (NASDAQ: MRVL) is a semiconductor solutions provider primarily focused on data infrastructure. The company specializes in providing integrated circuit technology for data centers, enterprise networking, carrier infrastructure, consumer products, and automotive/industrial markets.

In its first quarter of fiscal year 2026, Marvell reported total revenue of $1.895 billion, marking a significant increase of 63% year-over-year and a sequential rise of 4%. The data center market was the largest contributor, accounting for 76% of revenue with $1.44 billion, an increase of 76% year-over-year and 5% sequentially. Adjusted earnings per share stood at $0.62, a 158% increase from the previous year and well above the company’s guidance.

GAAP gross margin for the quarter was 50.3%, while the non-GAAP gross margin reached 59.8%. Total GAAP operating expenses were reported at $681.8 million, leading to a GAAP operating margin of 14.3% and a non-GAAP operating margin of 34.2%. Marvell generated cash flow from operations of $333 million during this period.

Looking forward, Marvell expects revenue in the second quarter to be approximately $2.00 billion, reflecting a year-over-year increase of 57%. The company forecasts its GAAP gross margin to be in the range of 50% to 51%, while the non-GAAP gross margin is expected between 59% and 60%. GAAP operating expenses are anticipated to reach approximately $735 million, with non-GAAP operating expenses estimated at $495 million.

Marvell significantly increased its stock repurchases, committing $340 million in the first quarter compared to $200 million in the prior quarter. Additionally, the company completed an all-cash sale of its automotive Ethernet business to Infineon for $2.5 billion, aiming to enhance its capital allocation strategy.

As a response to diverse customer demands, Marvell’s product offerings include AI-driven solutions and advanced packaging technologies. The company anticipates continuous growth driven by the increasing demand for custom silicon and AI infrastructure solutions.

Overall, Marvell Technology is positioned for ongoing growth, with strong financial metrics reflecting its robust performance. The second quarter guidance indicates a favorable trajectory supported by trends in AI, enterprise networking, and carrier infrastructure.