Marvell Technology Sees Q2 EPS $0.29 +/- $0.05 Vs $0.30 Est.; Revenue $1.25B +/- 5%. Vs $1.24B Est.

Second Quarter of Fiscal 2025 Financial Outlook

• Net revenue is expected to be $1.250 billion +/- 5%.
• GAAP gross margin is expected to be approximately 46.2%.
• Non-GAAP gross margin is expected to be approximately 62.0%.
• GAAP operating expenses are expected to be approximately $688 million.
• Non-GAAP operating expenses are expected to be approximately $455 million.
• Basic weighted-average shares outstanding are expected to be 867 million.
• Diluted weighted-average shares outstanding are expected to be 877 million.
• GAAP diluted loss per share is expected to be $(0.20) +/- $0.05 per share.
• Non-GAAP diluted income per share is expected to be $0.29 +/- $0.05 per share.

GAAP diluted EPS is calculated using basic weighted-average shares outstanding when there is a GAAP net loss, and calculated using diluted weighted-average shares outstanding when there is a GAAP net income. Non-GAAP diluted EPS is calculated using diluted weighted-average shares outstanding.