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10-Q Filing

Marvell Technology, Inc. CIK: 1835632 Q1 2022
Filing Information
Form Type 10-Q
Accession Number 0001835632-21-000010
Period End Date 20210430
Filing Date 20210609
Fiscal Year 2022
Fiscal Period Q1
XBRL Instance mrvl-20210501_htm.xml
Balance Sheet 58 line items
Line Item Tag Value Unit Period
Common shares, par value (in dollars per share) CommonStockParOrStatedValuePerShare $0.00 USD Point-in-time
Common shares, par value (in dollars per share) CommonStockParOrStatedValuePerShare $0.00 USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $522.51M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $748.47M USD Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $536.67M USD Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $694.39M USD Point-in-time
Inventories InventoryNet $538.12M USD Point-in-time
Inventories InventoryNet $268.23M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $63.78M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $132.79M USD Point-in-time
Total current assets AssetsCurrent $1.62B USD Point-in-time
Total current assets AssetsCurrent $1.89B USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $424.73M USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $326.12M USD Point-in-time
Goodwill Goodwill $10.97B USD Point-in-time
Goodwill Goodwill $5.34B USD Point-in-time
Acquired intangible assets, net IntangibleAssetsNetExcludingGoodwill $6.56B USD Point-in-time
Acquired intangible assets, net IntangibleAssetsNetExcludingGoodwill $2.27B USD Point-in-time
Deferred tax assets DeferredIncomeTaxAssetsNet $672.42M USD Point-in-time
Deferred tax assets DeferredIncomeTaxAssetsNet $725.64M USD Point-in-time
Other non-current assets OtherAssetsNoncurrent $664.03M USD Point-in-time
Other non-current assets OtherAssetsNoncurrent $541.57M USD Point-in-time
Total assets Assets $21.23B USD Point-in-time
Total assets Assets $10.76B USD Point-in-time
Accounts payable AccountsPayableCurrent $304.43M USD Point-in-time
Accounts payable AccountsPayableCurrent $252.42M USD Point-in-time
Accrued liabilities AccruedAndContractLiabilitiesCurrent $435.62M USD Point-in-time
Accrued liabilities AccruedAndContractLiabilitiesCurrent $478.16M USD Point-in-time
Accrued employee compensation EmployeeRelatedLiabilitiesCurrent $153.94M USD Point-in-time
Accrued employee compensation EmployeeRelatedLiabilitiesCurrent $189.42M USD Point-in-time
Short-term convertible debt ConvertibleDebtCurrent $193.27M USD Point-in-time
Short-term convertible debt ConvertibleDebtCurrent - USD Point-in-time
Short-term debt ShortTermBorrowings $30.31M USD Point-in-time
Short-term debt ShortTermBorrowings $199.64M USD Point-in-time
Total current liabilities LiabilitiesCurrent $1.08B USD Point-in-time
Total current liabilities LiabilitiesCurrent $1.16B USD Point-in-time
Long-term convertible debt ConvertibleDebtNoncurrent $1.15M USD Point-in-time
Long-term convertible debt ConvertibleDebtNoncurrent - USD Point-in-time
Long-term debt OtherLongTermDebtNoncurrent $993.17M USD Point-in-time
Long-term debt OtherLongTermDebtNoncurrent $4.67B USD Point-in-time
Other non-current liabilities OtherLiabilitiesNoncurrent $258.85M USD Point-in-time
Other non-current liabilities OtherLiabilitiesNoncurrent $539.61M USD Point-in-time
Total liabilities Liabilities $6.37B USD Point-in-time
Total liabilities Liabilities $2.33B USD Point-in-time
Commitments and contingencies (Note 10) CommitmentsAndContingencies - USD Point-in-time
Commitments and contingencies (Note 10) CommitmentsAndContingencies - USD Point-in-time
Common shares, $0.002 par value CommonStockValue $1.35M USD Point-in-time
Common shares, $0.002 par value CommonStockValue $1.63M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $12.88B USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $6.33B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $2.10B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $1.97B USD Point-in-time
Total stockholders equity StockholdersEquity $8.54B USD Point-in-time
Total stockholders equity StockholdersEquity $8.68B USD Point-in-time
Total stockholders equity StockholdersEquity $14.86B USD Point-in-time
Total stockholders equity StockholdersEquity $8.44B USD Point-in-time
Total liabilities and stockholders equity LiabilitiesAndStockholdersEquity $21.23B USD Point-in-time
Total liabilities and stockholders equity LiabilitiesAndStockholdersEquity $10.76B USD Point-in-time
Income Statement 38 line items
Line Item Tag Value Unit Period
Net revenue RevenueFromContractWithCustomerExcludingAssessedTax $832.28M USD 1 Quarter
Net revenue RevenueFromContractWithCustomerExcludingAssessedTax $693.64M USD 1 Quarter
Cost of goods sold CostOfGoodsAndServicesSold $366.74M USD 1 Quarter
Cost of goods sold CostOfGoodsAndServicesSold $414.14M USD 1 Quarter
Gross profit GrossProfit $418.14M USD 1 Quarter
Gross profit GrossProfit $326.90M USD 1 Quarter
Research and development ResearchAndDevelopmentExpense $279.58M USD 1 Quarter
Research and development ResearchAndDevelopmentExpense $286.10M USD 1 Quarter
Selling, general and administrative SellingGeneralAndAdministrativeExpense $122.03M USD 1 Quarter
Selling, general and administrative SellingGeneralAndAdministrativeExpense $201.47M USD 1 Quarter
Restructuring related charges RestructuringCostsAndAssetImpairmentCharges $21.29M USD 1 Quarter
Restructuring related charges RestructuringCostsAndAssetImpairmentCharges $12.89M USD 1 Quarter
Total operating expenses CostsAndExpenses $422.90M USD 1 Quarter
Total operating expenses CostsAndExpenses $500.45M USD 1 Quarter
Operating loss OperatingIncomeLoss $-82.31M USD 1 Quarter
Operating loss OperatingIncomeLoss $-96.00M USD 1 Quarter
Interest income InvestmentIncomeNonoperating $1.06M USD 1 Quarter
Interest income InvestmentIncomeNonoperating $222.00K USD 1 Quarter
Interest expense InterestExpense $35.14M USD 1 Quarter
Interest expense InterestExpense $16.83M USD 1 Quarter
Other income, net OtherNonoperatingIncomeExpense $1.22M USD 1 Quarter
Other income, net OtherNonoperatingIncomeExpense $3.75M USD 1 Quarter
Interest and other income (loss), net NonoperatingIncomeExpenseAndInterestIncomeExpense $-12.02M USD 1 Quarter
Interest and other income (loss), net NonoperatingIncomeExpenseAndInterestIncomeExpense $-33.70M USD 1 Quarter
Loss before income taxes IncomeLossAttributableToParent $-116.01M USD 1 Quarter
Loss before income taxes IncomeLossAttributableToParent $-108.01M USD 1 Quarter
Provision (benefit) for income taxes IncomeTaxExpenseBenefit $5.02M USD 1 Quarter
Provision (benefit) for income taxes IncomeTaxExpenseBenefit $-27.77M USD 1 Quarter
Net loss NetIncomeLoss $-88.24M USD 1 Quarter
Net loss NetIncomeLoss $-113.03M USD 1 Quarter
Net loss per share - basic (in dollars per share) EarningsPerShareBasic $-0.13 USD 1 Quarter
Net loss per share - basic (in dollars per share) EarningsPerShareBasic $-0.17 USD 1 Quarter
Net loss per share - diluted (in dollars per share) EarningsPerShareDiluted $-0.13 USD 1 Quarter
Net loss per share - diluted (in dollars per share) EarningsPerShareDiluted $-0.17 USD 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 693.38M shares 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 663.55M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 663.55M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 693.38M shares 1 Quarter
Cash Flow Statement 72 line items
Line Item Tag Value Unit Period
Net loss NetIncomeLoss $-88.24M USD 1 Quarter
Net loss NetIncomeLoss $-113.03M USD 1 Quarter
Depreciation and amortization OtherDepreciationAndAmortization $51.84M USD 1 Quarter
Depreciation and amortization OtherDepreciationAndAmortization $50.48M USD 1 Quarter
Share-based compensation ShareBasedCompensation $59.69M USD 1 Quarter
Share-based compensation ShareBasedCompensation $92.73M USD 1 Quarter
Amortization of acquired intangible assets AmortizationOfIntangibleAssets $112.92M USD 1 Quarter
Amortization of acquired intangible assets AmortizationOfIntangibleAssets $128.64M USD 1 Quarter
Amortization of inventory fair value adjustment associated with acquisitions AmortizationOfInventoryFairValueAdjustmentRelatedWithAcquisition $17.28M USD 1 Quarter
Amortization of inventory fair value adjustment associated with acquisitions AmortizationOfInventoryFairValueAdjustmentRelatedWithAcquisition $13.72M USD 1 Quarter
Other expense, net OtherNoncashIncomeExpense $-11.45M USD 1 Quarter
Other expense, net OtherNoncashIncomeExpense $-31.31M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $-22.58M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $2.37M USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $58.00M USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $-23.59M USD 1 Quarter
Prepaid expenses and other assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $6.69M USD 1 Quarter
Prepaid expenses and other assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $-4.41M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $13.25M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $-35.83M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $-3.56M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $-51.61M USD 1 Quarter
Accrued employee compensation IncreaseDecreaseInEmployeeRelatedLiabilities $-55.69M USD 1 Quarter
Accrued employee compensation IncreaseDecreaseInEmployeeRelatedLiabilities $-25.50M USD 1 Quarter
Accrued liabilities and other non-current liabilities IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities $10.80M USD 1 Quarter
Accrued liabilities and other non-current liabilities IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities $-47.00M USD 1 Quarter
Net cash provided by (used in) operating activities NetCashProvidedByUsedInOperatingActivities $175.63M USD 1 Quarter
Net cash provided by (used in) operating activities NetCashProvidedByUsedInOperatingActivities $-13.73M USD 1 Quarter
Purchases of technology licenses PaymentsToAcquireIntangibleAssets $3.44M USD 1 Quarter
Purchases of technology licenses PaymentsToAcquireIntangibleAssets $3.68M USD 1 Quarter
Purchases of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $21.44M USD 1 Quarter
Purchases of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $35.34M USD 1 Quarter
Cash payment for acquisition, net of cash and cash equivalents acquired PaymentsToAcquireBusinessesNetOfCashAcquired - USD 1 Quarter
Cash payment for acquisition, net of cash and cash equivalents acquired PaymentsToAcquireBusinessesNetOfCashAcquired $3.60B USD 1 Quarter
Other, net PaymentsForProceedsFromOtherInvestingActivities $-665.00K USD 1 Quarter
Other, net PaymentsForProceedsFromOtherInvestingActivities $-447.00K USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-3.62B USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-38.36M USD 1 Quarter
Repurchases of common stock PaymentsForRepurchaseOfCommonStock - USD 1 Quarter
Repurchases of common stock PaymentsForRepurchaseOfCommonStock $25.20M USD 1 Quarter
Proceeds from employee stock plans ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans $5.46M USD 1 Quarter
Proceeds from employee stock plans ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans $549.00K USD 1 Quarter
Tax withholding paid on behalf of employees for net share settlement PaymentsRelatedToTaxWithholdingForShareBasedCompensation $73.17M USD 1 Quarter
Tax withholding paid on behalf of employees for net share settlement PaymentsRelatedToTaxWithholdingForShareBasedCompensation $31.50M USD 1 Quarter
Dividend payments to stockholders PaymentsOfDividends $39.76M USD 1 Quarter
Dividend payments to stockholders PaymentsOfDividends $40.56M USD 1 Quarter
Payments on technology license obligations PaymentOnTechnologyLicenseObligation $23.81M USD 1 Quarter
Payments on technology license obligations PaymentOnTechnologyLicenseObligation $44.13M USD 1 Quarter
Proceeds from issuance of debt ProceedsFromIssuanceOfLongTermDebt $3.73B USD 1 Quarter
Proceeds from issuance of debt ProceedsFromIssuanceOfLongTermDebt - USD 1 Quarter
Principal payments of debt RepaymentsOfLongTermDebt - USD 1 Quarter
Principal payments of debt RepaymentsOfLongTermDebt $200.00M USD 1 Quarter
Payment for repurchases and settlement of convertible notes PaymentsForRepurchaseAndSettlementOfConvertibleDebt $71.08M USD 1 Quarter
Payment for repurchases and settlement of convertible notes PaymentsForRepurchaseAndSettlementOfConvertibleDebt - USD 1 Quarter
Proceeds from capped calls ProceedsFromCappedCalls - USD 1 Quarter
Proceeds from capped calls ProceedsFromCappedCalls $111.15M USD 1 Quarter
Payment of equity and debt financing costs PaymentOfFinancingAndStockIssuanceCosts $1.48M USD 1 Quarter
Payment of equity and debt financing costs PaymentOfFinancingAndStockIssuanceCosts - USD 1 Quarter
Other, net ProceedsFromPaymentsForOtherFinancingActivities $-2.51M USD 1 Quarter
Other, net ProceedsFromPaymentsForOtherFinancingActivities - USD 1 Quarter
Net cash provided by (used in) financing activities NetCashProvidedByUsedInFinancingActivities $3.41B USD 1 Quarter
Net cash provided by (used in) financing activities NetCashProvidedByUsedInFinancingActivities $-117.32M USD 1 Quarter
Net increase (decrease) in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $19.94M USD 1 Quarter
Net increase (decrease) in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-225.96M USD 1 Quarter
Cash and cash equivalents at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $522.51M USD Point-in-time
Cash and cash equivalents at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $748.47M USD Point-in-time
Cash and cash equivalents at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $647.60M USD Point-in-time
Cash and cash equivalents at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $667.55M USD Point-in-time
Cash and cash equivalents at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $522.51M USD Point-in-time
Cash and cash equivalents at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $748.47M USD Point-in-time
Cash and cash equivalents at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $647.60M USD Point-in-time
Cash and cash equivalents at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $667.55M USD Point-in-time
Stockholders Equity 32 line items
Line Item Tag Value Unit Period
Cash dividends declared (in dollars per share) CommonStockDividendsPerShareDeclared $0.06 USD 1 Quarter
Cash dividends declared (in dollars per share) CommonStockDividendsPerShareDeclared $0.06 USD 1 Quarter
Cash dividends paid (in dollars per share) CommonStockDividendsPerShareCashPaid $0.06 USD 1 Quarter
Cash dividends paid (in dollars per share) CommonStockDividendsPerShareCashPaid $0.06 USD 1 Quarter
Balance at beginning of period StockholdersEquity $8.54B USD Point-in-time
Balance at beginning of period StockholdersEquity $8.68B USD Point-in-time
Balance at beginning of period StockholdersEquity $14.86B USD Point-in-time
Balance at beginning of period StockholdersEquity $8.44B USD Point-in-time
Issuance of common shares in connection with equity incentive plans StockIssuedDuringPeriodValueNewIssues $5.47M USD 1 Quarter
Issuance of common shares in connection with equity incentive plans StockIssuedDuringPeriodValueNewIssues $510.00K USD 1 Quarter
Tax withholdings related to net share settlement of restricted stock units AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation $68.42M USD 1 Quarter
Tax withholdings related to net share settlement of restricted stock units AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation $31.50M USD 1 Quarter
Share-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $92.70M USD 1 Quarter
Share-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $60.20M USD 1 Quarter
Common stock issued to Inphi common stockholders StockIssuedDuringPeriodValueAcquisitions $5.87B USD 1 Quarter
Stock consideration for Inphi accelerated awards StockIssuedDuringPeriodValueShareBasedCompensationGross $39.06M USD 1 Quarter
Equity related issuance cost AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts $8.18M USD 1 Quarter
Replacement equity awards attributable to pre-acquisition service AdjustmentsToAdditionalPaidInCapitalReplacementEquityAwardsAttributableToPreAcquisitionService $82.35M USD 1 Quarter
Conversion feature of convertible notes AdjustmentsToAdditionalPaidInCapitalConvertibleDebtWithConversionFeature $244.16M USD 1 Quarter
Impact of repurchases of convertible notes StockIssuedDuringPeriodValueRepurchaseOfConvertibleNotes $-234.35M USD 1 Quarter
Conversion of convertible notes to common stock StockIssuedDuringPeriodValueConversionOfConvertibleSecurities $59.71M USD 1 Quarter
Repurchase of common stock StockRepurchasedDuringPeriodValue $25.20M USD 1 Quarter
Cash dividends declared and paid ($0.06 per share) DividendsCommonStockCash $40.56M USD 1 Quarter
Cash dividends declared and paid ($0.06 per share) DividendsCommonStockCash $39.76M USD 1 Quarter
Net loss NetIncomeLoss $-88.24M USD 1 Quarter
Net loss NetIncomeLoss $-113.03M USD 1 Quarter
Other comprehensive income OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $868.00K USD 1 Quarter
Other comprehensive income OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent - USD 1 Quarter
Balance at end of period StockholdersEquity $8.54B USD Point-in-time
Balance at end of period StockholdersEquity $8.68B USD Point-in-time
Balance at end of period StockholdersEquity $14.86B USD Point-in-time
Balance at end of period StockholdersEquity $8.44B USD Point-in-time
Comprehensive Income 8 line items
Line Item Tag Value Unit Period
Net loss NetIncomeLoss $-88.24M USD 1 Quarter
Net loss NetIncomeLoss $-113.03M USD 1 Quarter
Net change in unrealized gain (loss) on cash flow hedges OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTaxParent - USD 1 Quarter
Net change in unrealized gain (loss) on cash flow hedges OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTaxParent $868.00K USD 1 Quarter
Other comprehensive income (loss), net of tax OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $868.00K USD 1 Quarter
Other comprehensive income (loss), net of tax OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent - USD 1 Quarter
Comprehensive loss, net of tax ComprehensiveIncomeNetOfTax $-112.17M USD 1 Quarter
Comprehensive loss, net of tax ComprehensiveIncomeNetOfTax $-88.24M USD 1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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