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10-Q Filing

Marvell Technology, Inc. CIK: 1835632 Q1 2023
Filing Information
Form Type 10-Q
Accession Number 0001835632-22-000028
Period End Date 20220430
Filing Date 20220527
Fiscal Year 2023
Fiscal Period Q1
XBRL Instance mrvl-20220430_htm.xml
Filing Contents
Balance Sheet 54 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 $613.50M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $465.00M USD Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $1.19B USD Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $1.05B USD Point-in-time
Inventories InventoryNet $835.50M USD Point-in-time
Inventories InventoryNet $720.30M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $107.30M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $111.00M USD Point-in-time
Total current assets AssetsCurrent $2.49B USD Point-in-time
Total current assets AssetsCurrent $2.60B USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $462.80M USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $502.20M USD Point-in-time
Goodwill Goodwill $11.54B USD Point-in-time
Goodwill Goodwill $11.51B USD Point-in-time
Acquired intangible assets, net IntangibleAssetsNetExcludingGoodwill $5.89B USD Point-in-time
Acquired intangible assets, net IntangibleAssetsNetExcludingGoodwill $6.15B USD Point-in-time
Deferred tax assets DeferredIncomeTaxAssetsNet $493.50M USD Point-in-time
Deferred tax assets DeferredIncomeTaxAssetsNet $331.80M USD Point-in-time
Other non-current assets OtherAssetsNoncurrent $1.18B USD Point-in-time
Other non-current assets OtherAssetsNoncurrent $994.40M USD Point-in-time
Total assets Assets $22.11B USD Point-in-time
Total assets Assets $22.04B USD Point-in-time
Accounts payable AccountsPayableCurrent $461.50M USD Point-in-time
Accounts payable AccountsPayableCurrent $553.10M USD Point-in-time
Accrued liabilities AccruedAndContractLiabilitiesCurrent $735.00M USD Point-in-time
Accrued liabilities AccruedAndContractLiabilitiesCurrent $622.60M USD Point-in-time
Accrued employee compensation EmployeeRelatedLiabilitiesCurrent $191.90M USD Point-in-time
Accrued employee compensation EmployeeRelatedLiabilitiesCurrent $241.30M USD Point-in-time
Short-term debt ShortTermBorrowings $63.20M USD Point-in-time
Short-term debt ShortTermBorrowings $74.10M USD Point-in-time
Total current liabilities LiabilitiesCurrent $1.39B USD Point-in-time
Total current liabilities LiabilitiesCurrent $1.55B USD Point-in-time
Long-term debt OtherLongTermDebtNoncurrent $4.47B USD Point-in-time
Long-term debt OtherLongTermDebtNoncurrent $4.48B USD Point-in-time
Other non-current liabilities OtherLiabilitiesNoncurrent $554.30M USD Point-in-time
Other non-current liabilities OtherLiabilitiesNoncurrent $533.10M USD Point-in-time
Total liabilities Liabilities $6.41B USD Point-in-time
Total liabilities Liabilities $6.57B USD Point-in-time
Commitments and contingencies (Note 5) CommitmentsAndContingencies - USD Point-in-time
Commitments and contingencies (Note 5) CommitmentsAndContingencies - USD Point-in-time
Common stock, $0.002 par value CommonStockValue $1.70M USD Point-in-time
Common stock, $0.002 par value CommonStockValue $1.70M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $14.19B USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $14.21B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $1.27B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $1.49B USD Point-in-time
Total stockholders equity StockholdersEquity $15.46B 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 stockholders equity StockholdersEquity $15.70B USD Point-in-time
Total liabilities and stockholders equity LiabilitiesAndStockholdersEquity $22.11B USD Point-in-time
Total liabilities and stockholders equity LiabilitiesAndStockholdersEquity $22.04B USD Point-in-time
Income Statement 40 line items
Line Item Tag Value Unit Period
Net revenue RevenueFromContractWithCustomerExcludingAssessedTax $1.45B USD 1 Quarter
Net revenue RevenueFromContractWithCustomerExcludingAssessedTax $832.30M USD 1 Quarter
Cost of goods sold CostOfGoodsAndServicesSold $414.10M USD 1 Quarter
Cost of goods sold CostOfGoodsAndServicesSold $696.00M USD 1 Quarter
Gross profit GrossProfit $750.90M USD 1 Quarter
Gross profit GrossProfit $418.20M USD 1 Quarter
Research and development ResearchAndDevelopmentExpense $286.10M USD 1 Quarter
Research and development ResearchAndDevelopmentExpense $444.10M USD 1 Quarter
Selling, general and administrative SellingGeneralAndAdministrativeExpense $235.70M USD 1 Quarter
Selling, general and administrative SellingGeneralAndAdministrativeExpense $201.50M USD 1 Quarter
Restructuring related charges RestructuringCostsAndAssetImpairmentCharges $12.90M USD 1 Quarter
Restructuring related charges RestructuringCostsAndAssetImpairmentCharges $1.30M USD 1 Quarter
Total operating expenses CostsAndExpenses $681.10M USD 1 Quarter
Total operating expenses CostsAndExpenses $500.50M USD 1 Quarter
Operating income (loss) OperatingIncomeLoss $69.80M USD 1 Quarter
Operating income (loss) OperatingIncomeLoss $-82.30M USD 1 Quarter
Interest income InvestmentIncomeNonoperating $500.00K USD 1 Quarter
Interest income InvestmentIncomeNonoperating $200.00K USD 1 Quarter
Interest expense InterestExpense $36.30M USD 1 Quarter
Interest expense InterestExpense $35.10M USD 1 Quarter
Other income, net OtherNonoperatingIncomeExpense $1.20M USD 1 Quarter
Other income, net OtherNonoperatingIncomeExpense $5.20M USD 1 Quarter
Interest and other income (loss), net NonoperatingIncomeExpenseAndInterestIncomeExpense $-30.60M USD 1 Quarter
Interest and other income (loss), net NonoperatingIncomeExpenseAndInterestIncomeExpense $-33.70M USD 1 Quarter
Income (loss) before income taxes IncomeLossAttributableToParent $39.20M USD 1 Quarter
Income (loss) before income taxes IncomeLossAttributableToParent $-116.00M USD 1 Quarter
Provision (benefit) for income taxes IncomeTaxExpenseBenefit $-27.80M USD 1 Quarter
Provision (benefit) for income taxes IncomeTaxExpenseBenefit $204.90M USD 1 Quarter
Net loss NetIncomeLoss $-88.20M USD 1 Quarter
Net loss NetIncomeLoss $-165.70M USD 1 Quarter
Comprehensive loss, net of tax ComprehensiveIncomeNetOfTax $-165.70M USD 1 Quarter
Comprehensive loss, net of tax ComprehensiveIncomeNetOfTax $-88.20M USD 1 Quarter
Net loss per share - basic (in dollars per share) EarningsPerShareBasic $-0.20 USD 1 Quarter
Net loss per share - basic (in dollars per share) EarningsPerShareBasic $-0.13 USD 1 Quarter
Net loss per share - diluted (in dollars per share) EarningsPerShareDiluted $-0.20 USD 1 Quarter
Net loss per share - diluted (in dollars per share) EarningsPerShareDiluted $-0.13 USD 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 693.40M shares 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 848.00M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 848.00M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 693.40M shares 1 Quarter
Cash Flow Statement 70 line items
Line Item Tag Value Unit Period
Net loss NetIncomeLoss $-88.20M USD 1 Quarter
Net loss NetIncomeLoss $-165.70M USD 1 Quarter
Depreciation and amortization OtherDepreciationAndAmortization $51.80M USD 1 Quarter
Depreciation and amortization OtherDepreciationAndAmortization $75.70M USD 1 Quarter
Stock-based compensation ShareBasedCompensation $131.10M USD 1 Quarter
Stock-based compensation ShareBasedCompensation $92.70M USD 1 Quarter
Amortization of acquired intangible assets AmortizationOfIntangibleAssets $128.60M USD 1 Quarter
Amortization of acquired intangible assets AmortizationOfIntangibleAssets $272.50M USD 1 Quarter
Amortization of inventory fair value adjustment associated with acquisitions AmortizationOfInventoryFairValueAdjustmentRelatedWithAcquisition $13.70M USD 1 Quarter
Amortization of inventory fair value adjustment associated with acquisitions AmortizationOfInventoryFairValueAdjustmentRelatedWithAcquisition $9.30M USD 1 Quarter
Other expense, net OtherNoncashIncomeExpense $-31.40M USD 1 Quarter
Other expense, net OtherNoncashIncomeExpense $-6.70M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $-22.60M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $165.00M USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $58.00M USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $139.50M USD 1 Quarter
Prepaid expenses and other assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $-4.40M USD 1 Quarter
Prepaid expenses and other assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $142.90M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $13.20M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $125.80M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $-51.60M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $61.40M USD 1 Quarter
Accrued employee compensation IncreaseDecreaseInEmployeeRelatedLiabilities $-50.00M USD 1 Quarter
Accrued employee compensation IncreaseDecreaseInEmployeeRelatedLiabilities $-55.70M USD 1 Quarter
Accrued liabilities and other non-current liabilities IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities $-47.00M USD 1 Quarter
Accrued liabilities and other non-current liabilities IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities $97.00M USD 1 Quarter
Net cash provided by (used in) operating activities NetCashProvidedByUsedInOperatingActivities $-13.70M USD 1 Quarter
Net cash provided by (used in) operating activities NetCashProvidedByUsedInOperatingActivities $194.80M USD 1 Quarter
Purchases of technology licenses PaymentsToAcquireIntangibleAssets $1.60M USD 1 Quarter
Purchases of technology licenses PaymentsToAcquireIntangibleAssets $3.40M USD 1 Quarter
Purchases of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $36.90M USD 1 Quarter
Purchases of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $21.40M USD 1 Quarter
Acquisitions, net of cash acquired PaymentsToAcquireBusinessesNetOfCashAcquired $3.60B USD 1 Quarter
Acquisitions, net of cash acquired PaymentsToAcquireBusinessesNetOfCashAcquired $44.00M USD 1 Quarter
Other, net PaymentsForProceedsFromOtherInvestingActivities $-400.00K USD 1 Quarter
Other, net PaymentsForProceedsFromOtherInvestingActivities $-100.00K USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-82.40M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-3.62B USD 1 Quarter
Repurchases of common stock PaymentsForRepurchaseOfCommonStock - USD 1 Quarter
Repurchases of common stock PaymentsForRepurchaseOfCommonStock $15.00M USD 1 Quarter
Proceeds from employee stock plans ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans $500.00K USD 1 Quarter
Proceeds from employee stock plans ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans $2.50M USD 1 Quarter
Tax withholding paid on behalf of employees for net share settlement PaymentsRelatedToTaxWithholdingForShareBasedCompensation $73.20M USD 1 Quarter
Tax withholding paid on behalf of employees for net share settlement PaymentsRelatedToTaxWithholdingForShareBasedCompensation $137.60M USD 1 Quarter
Dividend payments to stockholders PaymentsOfDividends $40.60M USD 1 Quarter
Dividend payments to stockholders PaymentsOfDividends $50.90M USD 1 Quarter
Payments on technology license obligations PaymentOnTechnologyLicenseObligation $44.10M USD 1 Quarter
Payments on technology license obligations PaymentOnTechnologyLicenseObligation $49.00M USD 1 Quarter
Proceeds from issuance of debt ProceedsFromIssuanceOfLongTermDebt - USD 1 Quarter
Proceeds from issuance of debt ProceedsFromIssuanceOfLongTermDebt $3.73B USD 1 Quarter
Principal payments of debt RepaymentsOfLongTermDebt $200.00M USD 1 Quarter
Principal payments of debt RepaymentsOfLongTermDebt $10.90M USD 1 Quarter
Payment for repurchases and settlement of convertible notes PaymentsForRepurchaseAndSettlementOfConvertibleDebt $71.10M 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 $111.20M USD 1 Quarter
Payment of equity and debt financing costs PaymentOfFinancingAndStockIssuanceCosts - USD 1 Quarter
Payment of equity and debt financing costs PaymentOfFinancingAndStockIssuanceCosts $1.50M USD 1 Quarter
Net cash provided by (used in) financing activities NetCashProvidedByUsedInFinancingActivities $-260.90M USD 1 Quarter
Net cash provided by (used in) financing activities NetCashProvidedByUsedInFinancingActivities $3.41B USD 1 Quarter
Net decrease in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-148.50M USD 1 Quarter
Net decrease in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-226.00M USD 1 Quarter
Cash and cash equivalents at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $465.00M USD Point-in-time
Cash and cash equivalents at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $613.50M USD Point-in-time
Cash and cash equivalents at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $522.50M USD Point-in-time
Cash and cash equivalents at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $748.50M USD Point-in-time
Cash and cash equivalents at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $465.00M USD Point-in-time
Cash and cash equivalents at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $613.50M USD Point-in-time
Cash and cash equivalents at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $522.50M USD Point-in-time
Cash and cash equivalents at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $748.50M USD Point-in-time
Stockholders Equity 30 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 $15.46B 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
Balance at beginning of period StockholdersEquity $15.70B USD Point-in-time
Issuance of common stock in connection with equity incentive plans StockIssuedDuringPeriodValueNewIssues $2.40M USD 1 Quarter
Issuance of common stock in connection with equity incentive plans StockIssuedDuringPeriodValueNewIssues $500.00K USD 1 Quarter
Tax withholdings related to net share settlement of restricted stock units AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation $68.30M USD 1 Quarter
Tax withholdings related to net share settlement of restricted stock units AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation $137.60M USD 1 Quarter
Stock-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $92.70M USD 1 Quarter
Stock-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $129.70M USD 1 Quarter
Repurchase of common stock (in shares) StockRepurchasedDuringPeriodShares 300,000.00 shares 1 Quarter
Repurchase of common stock StockRepurchasedDuringPeriodValue $15.00M USD 1 Quarter
Issuance of common stock in connection with acquisitions StockIssuedDuringPeriodValueAcquisitions $5.91B USD 1 Quarter
Equity related issuance cost AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts $8.20M USD 1 Quarter
Stock consideration for replacement equity awards attributable to pre-combination service AdjustmentsToAdditionalPaidInCapitalReplacementEquityAwardsAttributableToPreAcquisitionService $82.30M USD 1 Quarter
Conversion feature of convertible notes AdjustmentsToAdditionalPaidInCapitalConvertibleDebtWithConversionFeature1 $244.20M USD 1 Quarter
Impact of repurchases of convertible notes StockIssuedDuringPeriodValueRepurchaseOfConvertibleNotes $234.30M USD 1 Quarter
Conversion of convertible notes to common stock StockIssuedDuringPeriodValueConversionOfConvertibleSecurities $59.70M USD 1 Quarter
Cash dividends declared and paid ($0.06 per share) DividendsCommonStockCash $40.60M USD 1 Quarter
Cash dividends declared and paid ($0.06 per share) DividendsCommonStockCash $50.90M USD 1 Quarter
Net loss NetIncomeLoss $-88.20M USD 1 Quarter
Net loss NetIncomeLoss $-165.70M USD 1 Quarter
Balance at end of period StockholdersEquity $15.46B 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
Balance at end of period StockholdersEquity $15.70B USD Point-in-time

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

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