Reports › MRVL › 10-Q FY2026

SEC filings, compared

What changed in Marvell Technology,'s 10-Q for the quarter ended May 2, 2026

Compared with the 10-Q for the quarter ended May 3, 2025. Part I, Item 2 and Part II, Item 1A analysed; every summary checked against the quoted filing text.

Registrant: Marvell Technology, Inc. · MRVL
This filing: 0001835632-26-000019 ↗ · filed May 28, 2026
Compared with: 0001835632-25-000117 ↗ · filed May 30, 2025
Processed: Sep 20, 2026 UTC · parser-v5 · classify-v4 · select-v1

Research tool. Describes what filings say. Not investment advice. Verify independently. Read the cited paragraph before relying on it.

How a report is made

45 material changes among 66 changed paragraphs · 1 held for review

16 shown by default across the three sections below; each section's "Show all" reaches the rest, in filing order. 1 held for review appears as a diff at the end.

Numbers from XBRL

Each figure is the one the filing itself tagged, taken from the filing that reported it. Not written by a model.

Concept	FY2026	FY2025	Change (our arithmetic)
Revenueus-gaap:RevenueFromContractWithCustomerExcludingAssessedTax	2,417,800,000USD · Feb 1, 2026 to May 2, 2026	1,895,300,000USD · Feb 2, 2025 to May 3, 2025	+522,500,000+27.6%
Net income or lossus-gaap:NetIncomeLoss	34,500,000USD · Feb 1, 2026 to May 2, 2026	177,900,000USD · Feb 2, 2025 to May 3, 2025	−143,400,000−80.6%
Cash and cash equivalentsus-gaap:CashAndCashEquivalentsAtCarryingValue	3,843,600,000USD · at May 2, 2026	885,900,000USD · at May 3, 2025	+2,957,700,000+333.9%
Net cash from operating activitiesus-gaap:NetCashProvidedByUsedInOperatingActivities	638,800,000USD · Feb 1, 2026 to May 2, 2026	332,900,000USD · Feb 2, 2025 to May 3, 2025	+305,900,000+91.9%

Values as tagged in the filing's inline XBRL, resolved by accession rather than by period matching. When a value is not tagged, we show that instead of estimating it. FY2026: 0001835632-26-000019 · FY2025: 0001835632-25-000117

What the company says for the first time

Paragraphs with no counterpart in the prior filing.

10 material additions

Part I, Item 2 · MD&A

8 of 10 shown · Ordered by the model, quote-checked

01AddedPart I, Item 2 › Liquidity and Capital Resources

Summary · quote-checked

Added disclosure of Celestial and XConn acquisitions, cash and stock consideration, and potential contingent payments and share issuances through fiscal 2029.

The paragraph introduces completed acquisitions and new contingent cash and equity obligations tied to revenue milestones, materially changing disclosed commitments and liquidity considerations.

Why the model ranked it here

This discloses major acquisition consideration and contingent cash and equity obligations that create new commitments tied to future performance.

Filing text · FY2025 10-Q · filed May 30, 2025

No corresponding language in the FY2025 10-Q.

Filing text · FY2026 10-Q · filed May 28, 2026

[added] During the fiscal quarter ended May 2, 2026, we completed the acquisitions of Celestial and XConn in which we paid cash, net of cash acquired and holdback amounts, of $1.0 billion, and $270.2 million, respectively and also issued a total of 26.8 million shares of our common stock. For the Celestial acquisition, contingent on the achievement of specified revenue milestones, we may be required to pay additional cash and issue additional shares of our common stock through fiscal 2029. See "Note 4 - Business Combinations" and "Note 5 - Goodwill and Acquired Intangible Assets, Net" in the Notes to Unaudited Condensed Consolidated Financial Statements for more information.

Cite this change

"During the fiscal quarter ended May 2, 2026, we completed the acquisitions of Celestial and XConn in which we paid cash, net of cash acquired and holdback amounts, of $1.0 billion, and $270.2 million, respectively and also issued a total of 26.8 million shares of our common stock. For the Celestial acquisition, contingent on the achievement of specified revenue milestones, we may be required to pay additional cash and issue additional shares of our common stock through fiscal 2029. See "Note 4 - Business Combinations" and "Note 5 - Goodwill and Acquired Intangible Assets, Net" in the Notes to Unaudited Condensed Consolidated Financial Statements for more information."

Marvell Technology,, Form 10-Q for FY2026, Part I, Item 2, accession 0001835632-26-000019, filed 28 May 2026.

Filing: https://www.sec.gov/Archives/edgar/data/1835632/000183563226000019/mrvl-20260502.htm

Comparison: https://yearover.com/reports/mrvl/0001835632-26-000019?ref=quote

02AddedPart I, Item 2 › Liquidity and Capital Resources

Summary · quote-checked

Added disclosure of a $1.0 billion debt offering, issuance of 2036 Senior Notes, and repayment of $500.0 million 2026 Senior Notes.

The new paragraph discloses a financing transaction, new debt obligation, maturity term, proceeds use, and repayment of existing debt, changing the filing’s liquidity and capital structure disclosure.

Why the model ranked it here

This changes the company’s debt profile by adding a long-term borrowing and documenting the repayment of existing debt.

Filing text · FY2025 10-Q · filed May 30, 2025

No corresponding language in the FY2025 10-Q.

Filing text · FY2026 10-Q · filed May 28, 2026

[added] On April 15, 2026, we completed a debt offering and issued $1.0 billion Senior Notes with a 10-year term due in 2036 ("2036 Senior Notes"). We used a portion of the net proceeds from the 2036 Senior Notes to repay the $500.0 million 2026 Senior Notes at maturity.

Cite this change

"On April 15, 2026, we completed a debt offering and issued $1.0 billion Senior Notes with a 10-year term due in 2036 ("2036 Senior Notes"). We used a portion of the net proceeds from the 2036 Senior Notes to repay the $500.0 million 2026 Senior Notes at maturity."

Marvell Technology,, Form 10-Q for FY2026, Part I, Item 2, accession 0001835632-26-000019, filed 28 May 2026.

Filing: https://www.sec.gov/Archives/edgar/data/1835632/000183563226000019/mrvl-20260502.htm

Comparison: https://yearover.com/reports/mrvl/0001835632-26-000019?ref=quote

03AddedPart I, Item 2 › Liquidity and Capital Resources

Summary · quote-checked

Added disclosure of a $2.0 billion preferred-stock issuance to NVIDIA, including conversion into common stock.

The new paragraph discloses a completed financing transaction and a potential equity-conversion obligation, changing the stated capital structure and dilution exposure.

Why the model ranked it here

This discloses a completed financing that adds convertible preferred stock and potential dilution to the capital structure.

Filing text · FY2025 10-Q · filed May 30, 2025

No corresponding language in the FY2025 10-Q.

Filing text · FY2026 10-Q · filed May 28, 2026

[added] On March 31, 2026, we completed the issuance and sale of 2.0 million shares of our Series A Convertible Preferred Stock to NVIDIA for an aggregate purchase price of $2.0 billion in cash. The shares of Series A Convertible Preferred Stock are initially convertible in the aggregate into a maximum of approximately 21.8 million shares of our common stock. See "Note 10 - Stockholders' Equity" in the Notes to Unaudited Condensed Consolidated Financial Statements for additional information.

Cite this change

"On March 31, 2026, we completed the issuance and sale of 2.0 million shares of our Series A Convertible Preferred Stock to NVIDIA for an aggregate purchase price of $2.0 billion in cash. The shares of Series A Convertible Preferred Stock are initially convertible in the aggregate into a maximum of approximately 21.8 million shares of our common stock. See "Note 10 - Stockholders' Equity" in the Notes to Unaudited Condensed Consolidated Financial Statements for additional information."

Marvell Technology,, Form 10-Q for FY2026, Part I, Item 2, accession 0001835632-26-000019, filed 28 May 2026.

Filing: https://www.sec.gov/Archives/edgar/data/1835632/000183563226000019/mrvl-20260502.htm

Comparison: https://yearover.com/reports/mrvl/0001835632-26-000019?ref=quote

04AddedPart I, Item 2 › Overview

Summary · quote-checked

Added disclosure of the completed Celestial AI acquisition and its expected role in accelerating connectivity for next-generation AI and cloud data centers.

The paragraph introduces a completed acquisition, identifies the acquired technology provider, and states an expected strategic benefit, representing a new event and dependency disclosure.

Why the model ranked it here

This introduces a completed acquisition and a stated strategic dependency on the acquired technology for future connectivity products.

Filing text · FY2025 10-Q · filed May 30, 2025

No corresponding language in the FY2025 10-Q.

Filing text · FY2026 10-Q · filed May 28, 2026

[added] On February 2, 2026, we completed the acquisition of Celestial AI, Inc., a provider of a Photonic FabricTM technology platform purpose-built for next-generation scale-up interconnect. The acquisition of Celestial is expected to accelerate our connectivity strategy for next-generation AI and cloud data centers.

Cite this change

"On February 2, 2026, we completed the acquisition of Celestial AI, Inc., a provider of a Photonic FabricTM technology platform purpose-built for next-generation scale-up interconnect."

Marvell Technology,, Form 10-Q for FY2026, Part I, Item 2, accession 0001835632-26-000019, filed 28 May 2026.

Filing: https://www.sec.gov/Archives/edgar/data/1835632/000183563226000019/mrvl-20260502.htm

Comparison: https://yearover.com/reports/mrvl/0001835632-26-000019?ref=quote

05AddedPart I, Item 2 › Overview

Summary · quote-checked

Added disclosure of the completed acquisition of XConn Technologies Holdings, Ltd. and its stated effects on the switching portfolio and UALink scale-up switch team.

The paragraph introduces a completed acquisition, a newly named provider and resulting business changes, constituting a new transaction and substantive corporate development.

Why the model ranked it here

This introduces another completed acquisition that changes the company’s switching portfolio and adds a newly acquired technology platform.

Filing text · FY2025 10-Q · filed May 30, 2025

No corresponding language in the FY2025 10-Q.

Filing text · FY2026 10-Q · filed May 28, 2026

[added] On February 10, 2026, we completed the acquisition of XConn Technologies Holdings, Ltd., a provider of advanced PCIe and CXL switching silicon. The acquisition of XConn expands our switching portfolio and augments our UALinkTM scale-up switch team.

Cite this change

"On February 10, 2026, we completed the acquisition of XConn Technologies Holdings, Ltd., a provider of advanced PCIe and CXL switching silicon."

Marvell Technology,, Form 10-Q for FY2026, Part I, Item 2, accession 0001835632-26-000019, filed 28 May 2026.

Filing: https://www.sec.gov/Archives/edgar/data/1835632/000183563226000019/mrvl-20260502.htm

Comparison: https://yearover.com/reports/mrvl/0001835632-26-000019?ref=quote

06AddedPart I, Item 2

Summary · quote-checked

Added a risk concerning the potential impact of AI on the company’s business model and products.

The new bullet identifies a specific business and product risk, changing the substance of the disclosed risk factors.

Why the model ranked it here

This identifies a specific risk that AI could affect the company’s business model and products rather than merely restating a general uncertainty.

Filing text · FY2025 10-Q · filed May 30, 2025

No corresponding language in the FY2025 10-Q.

Filing text · FY2026 10-Q · filed May 28, 2026

[added] • risks related to the potential impact of AI on our business model and products;

Cite this change

"• risks related to the potential impact of AI on our business model and products;"

Marvell Technology,, Form 10-Q for FY2026, Part I, Item 2, accession 0001835632-26-000019, filed 28 May 2026.

Filing: https://www.sec.gov/Archives/edgar/data/1835632/000183563226000019/mrvl-20260502.htm

Comparison: https://yearover.com/reports/mrvl/0001835632-26-000019?ref=quote

07AddedPart I, Item 2 › Three months ended May 2, 2026 and May 3, 2025

Summary · quote-checked

Added disclosure of the 2025 Tax Act, its effective timing, impact on the May 2, 2026 tax provision, and ongoing evaluation.

The new paragraph identifies a tax-law change, states that it affected the reported tax provision, and describes provisions becoming effective in fiscal year 2027.

Why the model ranked it here

This explains that a new tax law already affected the reported tax provision and may continue to change tax outcomes.

Filing text · FY2025 10-Q · filed May 30, 2025

No corresponding language in the FY2025 10-Q.

Filing text · FY2026 10-Q · filed May 28, 2026

[added] The One Big Beautiful Bill Act of 2025 (the "2025 Tax Act") was signed into law on July 4, 2025. The 2025 Tax Act makes permanent key elements of the 2017 Tax Cuts and Jobs Act and modifies certain provisions of the U.S. International tax framework. Certain provisions of the 2025 Tax Act become effective in fiscal year 2027. Our tax provision for the May 2, 2026 period includes the impact of the 2025 Tax Act. We will continue to evaluate the impact of the 2025 Tax Act on our income taxes.

Cite this change

"The One Big Beautiful Bill Act of 2025 (the "2025 Tax Act") was signed into law on July 4, 2025. The 2025 Tax Act makes permanent key elements of the 2017 Tax Cuts and Jobs Act and modifies certain provisions of the U.S. International tax framework. Certain provisions of the 2025 Tax Act become effective in fiscal year 2027. Our tax provision for the May 2, 2026 period includes the impact of the 2025 Tax Act. We will continue to evaluate the impact of the 2025 Tax Act on our income taxes."

Marvell Technology,, Form 10-Q for FY2026, Part I, Item 2, accession 0001835632-26-000019, filed 28 May 2026.

Filing: https://www.sec.gov/Archives/edgar/data/1835632/000183563226000019/mrvl-20260502.htm

Comparison: https://yearover.com/reports/mrvl/0001835632-26-000019?ref=quote

08AddedPart I, Item 2 › Overview

Summary · quote-checked

Added disclosure that Celestial and XConn operating results are included after their acquisitions through the first quarter ended May 2, 2026.

The paragraph newly discloses acquisitions and the resulting inclusion of their operating results, indicating a substantive transaction and accounting effect rather than merely a cross-reference.

Why the model ranked it here

This confirms that the acquisitions began affecting reported operating results, making their accounting impact part of the current financial statements.

Filing text · FY2025 10-Q · filed May 30, 2025

No corresponding language in the FY2025 10-Q.

Filing text · FY2026 10-Q · filed May 28, 2026

[added] The unaudited condensed consolidated financial statements include the operating results of Celestial and XConn for the period from the dates of acquisition through our first quarter ended May 2, 2026. See "Note 4 - Business Combinations" and "Note 5 - Goodwill and Acquired Intangible Assets, Net" in the Notes to Unaudited Condensed Consolidated Financial Statements for additional information.

Cite this change

"The unaudited condensed consolidated financial statements include the operating results of Celestial and XConn for the period from the dates of acquisition through our first quarter ended May 2, 2026. See "Note 4 - Business Combinations" and "Note 5 - Goodwill and Acquired Intangible Assets, Net" in the Notes to Unaudited Condensed Consolidated Financial Statements for additional information."

Marvell Technology,, Form 10-Q for FY2026, Part I, Item 2, accession 0001835632-26-000019, filed 28 May 2026.

Filing: https://www.sec.gov/Archives/edgar/data/1835632/000183563226000019/mrvl-20260502.htm

Comparison: https://yearover.com/reports/mrvl/0001835632-26-000019?ref=quote

Show all 10 in Part I, Item 2 (2 more, in filing order)

What the company no longer says

Paragraphs of the prior filing that this filing dropped. Only last year's text can show these.

3 material removals

Part I, Item 2 · MD&A

3 of 3 shown · In filing order, too few to rank

01RemovedPart I, Item 2 › Overview

Summary · quote-checked

The current filing removes disclosure of the planned sale of the automotive ethernet business, related licensing and transition services, held-for-sale assets, and expected closing.

The removed paragraph disclosed a definitive divestiture agreement, transaction consideration, assets held for sale, regulatory conditions, and an expected closing, all substantive transaction information.

Filing text · FY2025 10-Q · filed May 30, 2025

[removed] On April 7, 2025, we entered into a definitive agreement to sell our automotive ethernet business to Infineon Technologies AG (the "Buyer") for $2.5 billion in cash. The divestiture encompasses our automotive ethernet product portfolio and related assets. In addition, we will license certain intellectual property to the Buyer in connection with the transferred business and provide certain temporary transition services following completion of the sale. As of May 3, 2025, we classified assets held for sale of $588.2 million, which consisted of $29.0 million of inventories, $17.4 million of property and equipment, $524.7 million of goodwill, $14.0 million of acquired intangible assets, and other related assets. The transaction is expected to close within calendar year 2025, subject to customary closing conditions and regulatory approvals.

Filing text · FY2026 10-Q · filed May 28, 2026

No corresponding language in the FY2026 10-Q.

Cite this change

"On April 7, 2025, we entered into a definitive agreement to sell our automotive ethernet business to Infineon Technologies AG (the "Buyer") for $2.5 billion in cash."

Marvell Technology,, Form 10-Q for FY2025, Part I, Item 2, accession 0001835632-25-000117, filed 30 May 2025.

Filing: https://www.sec.gov/Archives/edgar/data/1835632/000183563225000117/mrvl-20250503.htm

Comparison: https://yearover.com/reports/mrvl/0001835632-26-000019?ref=quote

02RemovedPart I, Item 2 › Overview

Summary · quote-checked

The disclosure stating that an amount was less than 10% of net revenue was removed.

The removed sentence contains a quantitative disclosure, but its underlying subject is not provided; its significance is therefore not determinable from the text alone.

Filing text · FY2025 10-Q · filed May 30, 2025

~~[removed] *Less than 10% of net revenue.~~

Filing text · FY2026 10-Q · filed May 28, 2026

No corresponding language in the FY2026 10-Q.

Cite this change

"Less than 10% of net revenue."

Marvell Technology,, Form 10-Q for FY2025, Part I, Item 2, accession 0001835632-25-000117, filed 30 May 2025.

Filing: https://www.sec.gov/Archives/edgar/data/1835632/000183563225000117/mrvl-20250503.htm

Comparison: https://yearover.com/reports/mrvl/0001835632-26-000019?ref=quote

03RemovedPart I, Item 2 › Liquidity and Capital Resources

Summary · quote-checked

Removed disclosure that the company repaid $32.8 million of principal on the 2026 Term Loan.

The removed sentence states a debt repayment and amount, changing disclosure about the company’s outstanding borrowing obligations and liquidity activity.

Filing text · FY2025 10-Q · filed May 30, 2025

~~[removed] For the three months ended May 3, 2025, we repaid $32.8 million of the principal outstanding of the 2026 Term Loan.~~

Filing text · FY2026 10-Q · filed May 28, 2026

No corresponding language in the FY2026 10-Q.

Cite this change

"For the three months ended May 3, 2025, we repaid $32.8 million of the principal outstanding of the 2026 Term Loan."

Marvell Technology,, Form 10-Q for FY2025, Part I, Item 2, accession 0001835632-25-000117, filed 30 May 2025.

Filing: https://www.sec.gov/Archives/edgar/data/1835632/000183563225000117/mrvl-20250503.htm

Comparison: https://yearover.com/reports/mrvl/0001835632-26-000019?ref=quote

What the company says differently

Paragraphs that changed between the two filings, shown as a word diff.

32 material changes

Part I, Item 2 · MD&A

5 of 32 shown · Ordered by the model, quote-checked

01ChangedPart I, Item 2 › Liquidity and Capital Resources

Summary · quote-checked

Added disclosure of agreements securing long-term wafer and substrate capacity with $870.0 million in deposits payable through fiscal 2028.

The paragraph newly discloses a manufacturing-capacity commitment, deposit obligation, amount, and payment schedule, changing the stated contractual obligations and liquidity commitments.

Why the model ranked it here

This adds a substantial long-term manufacturing-capacity deposit obligation and a defined payment schedule that changes the company’s contractual liquidity commitments.

Filing text · FY2025 10-Q · filed May 30, 2025

For a description of our contractual obligations including debt and purchase commitments, see "Note ~~[removed] 6~~ - Debt," and "Note ~~[removed] 8~~ - Commitments and Contingencies" in the Notes to Unaudited Condensed Consolidated Financial Statements. We generally expect to satisfy these commitments with cash on hand and cash provided by operating activities.

Filing text · FY2026 10-Q · filed May 28, 2026

[added] Subsequent to quarter end, we entered into agreements to secure long-term wafer and substrate manufacturing capacity, in which we committed to pay deposits totaling $870.0 million, payable in quarterly installments from the second quarter of fiscal 2027 through the second quarter of fiscal 2028. For a description of our contractual obligations including debt and purchase commitments, see "Note [added] 7 - Debt," and "Note [added] 9 - Commitments and Contingencies" in the Notes to Unaudited Condensed Consolidated Financial Statements. We generally expect to satisfy these commitments with cash on hand and cash provided by operating activities.

Cite this change

"Subsequent to quarter end, we entered into agreements to secure long-term wafer and substrate manufacturing capacity, in which we committed to pay deposits totaling $870.0 million, payable in quarterly installments from the second quarter of fiscal 2027 through the second quarter of fiscal 2028."

Marvell Technology,, Form 10-Q for FY2026, Part I, Item 2, accession 0001835632-26-000019, filed 28 May 2026.

Filing: https://www.sec.gov/Archives/edgar/data/1835632/000183563226000019/mrvl-20260502.htm

Comparison: https://yearover.com/reports/mrvl/0001835632-26-000019?ref=quote

02ChangedPart I, Item 2 › Liquidity and Capital Resources

Summary · quote-checked

Borrowings increased to $5.0 billion, while disclosures of amounts due within twelve months, the term loan, revolving facility, and repayment plans were removed.

The paragraph changes total borrowings, removes maturity and repayment information, and no longer identifies the term loan or revolving credit facility, altering disclosed liquidity and debt obligations.

Why the model ranked it here

Higher borrowings combined with the removal of maturity, facility, and repayment details materially changes how readers assess debt and liquidity.

Filing text · FY2025 10-Q · filed May 30, 2025

As of May ~~[removed] 3, 2025,~~ we had total borrowings outstanding of ~~[removed] $4.3 billion, of which $1.3 billion is due within twelve months,~~ consisting of ~~[removed] $3.5 billion of~~ senior notes [removed] outstanding, $557.8 million outstanding under our 5-Year Tranche Loan ("2026 Term Loan"), and $200.0 million under our revolving credit facility. We intend to repay the current amounts due with operating cash flows or opportunistically refinance such debt.

Filing text · FY2026 10-Q · filed May 28, 2026

As of May [added] 2, 2026, we had total borrowings outstanding of [added] $5.0 billion, consisting of senior notes [added] outstanding.

Cite this change

"As of May 2, 2026, we had total borrowings outstanding of $5.0 billion, consisting of senior notes outstanding."

Marvell Technology,, Form 10-Q for FY2026, Part I, Item 2, accession 0001835632-26-000019, filed 28 May 2026.

Filing: https://www.sec.gov/Archives/edgar/data/1835632/000183563226000019/mrvl-20260502.htm

Comparison: https://yearover.com/reports/mrvl/0001835632-26-000019?ref=quote

03ChangedPart I, Item 2 › Cash Flows from Financing Activities

Summary · quote-checked

Financing cash flow changed from net cash used to net cash provided, reflecting preferred-stock issuance, borrowings, and revised financing outflows.

The paragraph changes the direction of financing cash flow and introduces new funding sources and obligations, so the disclosure is substantively different.

Why the model ranked it here

Financing cash flow shifted from an outflow to an inflow through preferred-stock issuance and new borrowings, revealing a substantially different funding position.

Filing text · FY2025 10-Q · filed May 30, 2025

For the three months ended May ~~[removed] 4, 2024,~~ net cash ~~[removed] used in~~ financing activities of ~~[removed] $325.7 million~~ was primarily attributable to ~~[removed] $150.0 million repurchases of common stock, $74.1 million for tax withholding payments on behalf of employees for net share settlements, $51.8~~ million for [removed] payment of our quarterly dividends, $30.2 million payments on technology license obligations, and $21.9 million repayment of debt principal, partially offset by $2.3 million in proceeds from the issuance of common stock under our employee stock plans.

Filing text · FY2026 10-Q · filed May 28, 2026

For the three months ended May [added] 2, 2026, net cash [added] provided by financing activities of [added] $2.0 billion was primarily attributable to [added] $2.0 billion proceeds from issuance of preferred stock, and $1.0 billion proceeds from borrowings, partially offset by $500.0 million repayment of debt principal, $227.2 million for [added] tax withholding payments on behalf of employees for net share settlements, $200.0 million repurchases of common stock, $53.8 million for payment of our quarterly dividends, and $27.2 million payments on technology license obligations.

Cite this change

"For the three months ended May 2, 2026, net cash provided by financing activities of $2.0 billion was primarily attributable to $2.0 billion proceeds from issuance of preferred stock, and $1.0 billion proceeds from borrowings, partially offset by $500.0 million repayment of debt principal, $227.2 million for tax withholding payments on behalf of employees for net share settlements, $200.0 million repurchases of common stock, $53.8 million for payment of our quarterly dividends, and $27.2 million payments on technology license obligations."

Marvell Technology,, Form 10-Q for FY2026, Part I, Item 2, accession 0001835632-26-000019, filed 28 May 2026.

Filing: https://www.sec.gov/Archives/edgar/data/1835632/000183563226000019/mrvl-20260502.htm

Comparison: https://yearover.com/reports/mrvl/0001835632-26-000019?ref=quote

04ChangedPart I, Item 2 › Liquidity and Capital Resources

Summary · quote-checked

The revolving credit facility was replaced with a higher-capacity facility, and the prior outstanding drawdown was replaced by an undrawn status and new availability date.

The disclosure changes the facility, borrowing capacity, outstanding debt status, repayment statement, and availability period, altering the company’s stated liquidity and financing position.

Why the model ranked it here

The replacement credit facility is undrawn and available for a longer period, changing the company’s stated borrowing capacity and immediate debt position.

Filing text · FY2025 10-Q · filed May 30, 2025

We have a revolving credit facility with a borrowing capacity of ~~[removed] $1.0~~ billion and a 5-year term ~~[removed] ("2023~~ Revolving Credit Facility"). [removed] During the first quarter of fiscal 2026, we drew down $200.0 million on the 2023 Revolving Credit Facility that remains outstanding as of May 3, 2025, and which we intend to repay during fiscal 2026. As of May ~~[removed] 3, 2025, $800.0 million of the $1.0 billion total borrowing capacity under the 2023~~ Revolving Credit Facility was undrawn and is available for draw down through ~~[removed] April 14, 2028.~~

Filing text · FY2026 10-Q · filed May 28, 2026

We have a revolving credit facility with a borrowing capacity of [added] up to $1.5 billion and a 5-year term [added] ("2025 Revolving Credit Facility"). As of May [added] 2, 2026, the 2025 Revolving Credit Facility was undrawn and is available for draw down through [added] June 30, 2030.

Cite this change

"As of May 2, 2026, the 2025 Revolving Credit Facility was undrawn and is available for draw down through June 30, 2030."

Marvell Technology,, Form 10-Q for FY2026, Part I, Item 2, accession 0001835632-26-000019, filed 28 May 2026.

Filing: https://www.sec.gov/Archives/edgar/data/1835632/000183563226000019/mrvl-20260502.htm

Comparison: https://yearover.com/reports/mrvl/0001835632-26-000019?ref=quote

05ChangedPart I, Item 2 › Cash Flows from Investing Activities

Summary · quote-checked

Investing cash use increased and was newly driven partly by acquisitions, alongside higher property and equipment purchases.

The paragraph adds acquisitions as a cash-use driver and changes the reported amounts materially; this is more than a period roll-forward or recurring numeric update.

Why the model ranked it here

Investing cash use is now dominated by acquisitions rather than primarily equipment purchases, showing a major change in capital deployment.

Filing text · FY2025 10-Q · filed May 30, 2025

For the three months ended May ~~[removed] 4, 2024,~~ net cash used in investing activities of ~~[removed] $101.9 million~~ was primarily driven by purchases of property and equipment of ~~[removed] $91.5~~ million.

Filing text · FY2026 10-Q · filed May 28, 2026

For the three months ended May [added] 2, 2026, net cash used in investing activities of [added] $1.4 billion was primarily driven by [added] acquisitions, net of cash acquired of $1.3 billion, and purchases of property and equipment of [added] $155.7 million.

Cite this change

"For the three months ended May 2, 2026, net cash used in investing activities of $1.4 billion was primarily driven by acquisitions, net of cash acquired of $1.3 billion, and purchases of property and equipment of $155.7 million."

Marvell Technology,, Form 10-Q for FY2026, Part I, Item 2, accession 0001835632-26-000019, filed 28 May 2026.

Filing: https://www.sec.gov/Archives/edgar/data/1835632/000183563226000019/mrvl-20260502.htm

Comparison: https://yearover.com/reports/mrvl/0001835632-26-000019?ref=quote

Show all 32 in Part I, Item 2 (27 more, in filing order)

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Part II, Item 1A · Risk Factors

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HeldPart I, Item 2 › Overview

Filing text · FY2025 10-Q · filed May 30, 2025

No corresponding language in the FY2025 10-Q.

Filing text · FY2026 10-Q · filed May 28, 2026

[added] During the first quarter of fiscal 2027, Marvell and NVIDIA Corporation ("NVIDIA") announced a strategic partnership to connect our custom XPUs and compatible scale-up networking with NVIDIA's AI infrastructure ecosystem. On March 31, 2026, we completed the issuance of Series A Convertible Preferred Stock to NVIDIA for an aggregate purchase price of $2.0 billion. See "Note 10 - Stockholders' Equity" in the Notes to Unaudited Condensed Consolidated Financial Statements for additional information.

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