Marvell Technology, Inc.

Company facts

Industry

Semiconductors & Related Devices

Headquarters

Wilmington, Delaware

Most recent report

10-Q, filed Aug 28, 2026

Incorporated

Delaware

Filings on record

835 filings

On EDGAR

CIK 1835632

Fiscal year ends

January

Filer status

Large accelerated filer

What to read: Aug 2026 10-Q

SECSift found 4 of 10 sections worth reading, with 2 positive, 8 notable, and 4 negative flags.

• Financial Statements (Item 1)

  Core statements with acquisition, $2B preferred, large contingent liability, huge commitments.
  Notable

  • Factored $412M of trade receivables in H1 FY2027, up from $527M a year ago.
  Negative

  • Contingent consideration liability $749.5M could require up to $233M cash and 22.4M shares.
  • Subsequent to quarter, issued customer warrant for up to 59M shares at $206.58, huge dilution.

• Management's Discussion (Item 2)

  Company-specific results, margins, customer concentration and major financings.
  Positive

  • Net revenue up 37% to $2.7B, data center up 46%, both in Q2 FY2027.
  • Gross margin improved to 53.1% from 50.4% in Q2 FY2027.
  Notable

  • Issued $2B Series A Convertible Preferred to NVIDIA, convertible to ~21.8M shares of common.
  • Post-quarter warrant for up to 59M shares at $206.58, tied to revenue milestones.

• Risk Factors (Item 1A)

  Many quantified company-specific risks: customer concentration, debt, NVIDIA deal, AI disruption.
  Notable

  • Celestial AI earnout could require issuing 24.4M additional shares if revenue milestones met through FY2029.
  • Issued $2.0B convertible preferred stock to NVIDIA on March 31, 2026, convertible into up to 21.8M shares.
  • $5.0B debt outstanding as of August 1, 2026; $1.5B undrawn revolver available.
  • $5.1B remaining for stock repurchases as of August 1, 2026 under authorization from September 2025.
  Negative

  • Two customers >10% of revenue; top ten = 82% in fiscal 2026, a very high concentration.
  • Asia revenue rose to 84% of net revenue in Q2 FY2026 from 76% a year ago, increasing geographic risk.

• Unregistered Sales and Repurchases (Item 2)

  Two company-specific events: large post-quarter warrant issuance and limited buyback activity.
  Notable

  • Only 1.1M shares repurchased in the quarter; no buybacks in June or July despite $5.1B remaining authority.

What changed: Aug 2026 vs. May 2026

About 4% of MRVL's Aug 2026 10-Q is new information. 24 paragraphs were added, 141 changed, and 33 removed. Below are the most important lines SECSift identified.

• Item 1 51
• Item 2 43
• Item 1A 27
• Item 5 4
• Item 4 2
• Item 3 1