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Marvell Technology Inc. (MRVL+3.28%) has filed its annual report on Form 10-K for the fiscal year ended February 1, 2025. filing
The filing reports that Marvell's net revenue for fiscal 2025 was $5.8 billion, a 5% increase from the previous year. This growth was primarily driven by an 88% increase in sales from the data center end market, attributed to strong demand for AI applications.
Despite the increase in revenue, Marvell reported a net loss of $885 million for the year, compared to a net loss of $933.4 million in the previous fiscal year. The loss was influenced by restructuring charges and impairment of certain assets.
The company recognized $711.8 million in restructuring-related charges, primarily related to the impairment and write-off of acquired intangible assets, purchased technology licenses, and inventories, as well as severance and other costs.
Marvell's gross profit margin was 41.3%, slightly down from 41.6% in the previous year, due to restructuring charges impacting cost of goods sold.
Research and development expenses increased by 2.9% to $1.95 billion, reflecting higher employee compensation and engineering design costs.
Selling, general, and administrative expenses decreased by 4.3% to $798.2 million, primarily due to lower depreciation and amortization expenses.
Marvell's cash and cash equivalents stood at $948.3 million at the end of fiscal 2025, with $716.9 million held by subsidiaries outside the United States.
The company repurchased 9 million shares of its common stock for $725 million during the fiscal year, with $2.6 billion remaining available under its stock repurchase program.
Marvell's board declared and paid cash dividends totaling $207.5 million for the fiscal year.
The company continues to face risks related to its dependence on a few significant customers, geopolitical tensions, and regulatory changes, particularly in relation to trade with China.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Marvell Technology Inc. annual 10-K report dated March 12, 2025. To report an error, please email earnings@qz.com.