Reports › MRVL › 10-Q FY2026

SEC filings, compared

What changed in Marvell Technology,'s 10-Q for the quarter ended August 1, 2026

Compared with the 10-Q for the quarter ended August 2, 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: 0001835632-26-000025 ↗ · filed Aug 28, 2026
Compared with: 0001835632-25-000189 ↗ · filed Aug 29, 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

58 material changes among 75 changed paragraphs

18 shown by default across the three sections below; each section's "Show all" reaches the rest, in filing order.

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	2,739,300,000USD · May 3, 2026 to Aug 1, 2026	2,006,100,000USD · May 4, 2025 to Aug 2, 2025	+733,200,000+36.5%
Net income or lossus-gaap:NetIncomeLoss	308,000,000USD · May 3, 2026 to Aug 1, 2026	194,800,000USD · May 4, 2025 to Aug 2, 2025	+113,200,000+58.1%
Cash and cash equivalentsus-gaap:CashAndCashEquivalentsAtCarryingValue	3,932,800,000USD · at Aug 1, 2026	1,224,400,000USD · at Aug 2, 2025	+2,708,400,000+221.2%
Net cash from operating activitiesus-gaap:NetCashProvidedByUsedInOperatingActivities	1,244,300,000USD · Feb 1, 2026 to Aug 1, 2026	794,500,000USD · Feb 2, 2025 to Aug 2, 2025	+449,800,000+56.6%

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: 0001835632-26-000025 · FY2025: 0001835632-25-000189

What the company says for the first time

Paragraphs with no counterpart in the prior filing.

13 material additions

Part I, Item 2 · MD&A

8 of 13 shown · Ordered by the model, quote-checked

01AddedPart I, Item 2

Summary · quote-checked

Added a risk concerning dependence on limited suppliers and potential inability to obtain critical materials and wafers needed to meet demand and forecasts.

The new paragraph discloses supplier concentration and potential supply constraints involving TSMC and other critical components, changing the stated supply-chain risk profile.

Why the model ranked it here

This introduces a concentrated dependence on critical suppliers and wafers, with a stated risk that supply constraints could prevent the company from meeting demand.

Filing text · FY2025 10-Q · filed Aug 29, 2025

No corresponding language in the FY2025 10-Q.

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

[added] • risks related to our dependence on a limited number of suppliers of critical materials, including components, within our supply chain, and potential inability to obtain sufficient advance node wafers from Taiwan Semiconductor Manufacturing Company Limited ("TSMC") as well as to obtain other critical components from other suppliers, to meet customer demand and our forecasts;

Cite this change

"• risks related to our dependence on a limited number of suppliers of critical materials, including components, within our supply chain, and potential inability to obtain sufficient advance node wafers from Taiwan Semiconductor Manufacturing Company Limited ("TSMC") as well as to obtain other critical components from other suppliers, to meet customer demand and our forecasts;"

Marvell Technology,, Form 10-Q for FY2026, Part I, Item 2, accession 0001835632-26-000025, filed 28 August 2026.

Filing: https://www.sec.gov/Archives/edgar/data/1835632/000183563226000025/mrvl-20260801.htm

Comparison: https://yearover.com/reports/mrvl/0001835632-26-000025?ref=quote

02AddedPart I, Item 2 › Liquidity and Capital Resources

Summary · quote-checked

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

The new paragraph discloses acquisitions, substantial consideration, and contingent cash and share obligations, introducing new transactions and commitments in the liquidity discussion.

Why the model ranked it here

This discloses major acquisition consideration and potential contingent cash and share obligations that change the company’s liquidity commitments.

Filing text · FY2025 10-Q · filed Aug 29, 2025

No corresponding language in the FY2025 10-Q.

Filing text · FY2026 10-Q · filed Aug 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."

Marvell Technology,, Form 10-Q for FY2026, Part I, Item 2, accession 0001835632-26-000025, filed 28 August 2026.

Filing: https://www.sec.gov/Archives/edgar/data/1835632/000183563226000025/mrvl-20260801.htm

Comparison: https://yearover.com/reports/mrvl/0001835632-26-000025?ref=quote

03AddedPart I, Item 2 › Overview

Summary · quote-checked

Added disclosure of a strategic partnership with NVIDIA and issuance of $2.0 billion of Series A Convertible Preferred Stock.

The paragraph introduces a new strategic relationship and a completed convertible preferred stock issuance, disclosing a new transaction, instrument, and counterparty.

Why the model ranked it here

This adds a strategic partnership with NVIDIA alongside a new preferred-stock financing, introducing a significant counterparty relationship and change in capital structure.

Filing text · FY2025 10-Q · filed Aug 29, 2025

No corresponding language in the FY2025 10-Q.

Filing text · FY2026 10-Q · filed Aug 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.

Cite this change

"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."

Marvell Technology,, Form 10-Q for FY2026, Part I, Item 2, accession 0001835632-26-000025, filed 28 August 2026.

Filing: https://www.sec.gov/Archives/edgar/data/1835632/000183563226000025/mrvl-20260801.htm

Comparison: https://yearover.com/reports/mrvl/0001835632-26-000025?ref=quote

04AddedPart I, Item 2 › Liquidity and Capital Resources

Summary · quote-checked

Added disclosure of a $2.0 billion Series A Convertible Preferred Stock issuance to NVIDIA and its potential conversion into common shares.

The new paragraph discloses a transaction creating preferred-stock financing and a potential common-stock conversion obligation, changing the stated capital structure and related commitments.

Why the model ranked it here

This details preferred-stock financing that can convert into common equity, creating a new capital structure and potential dilution obligation.

Filing text · FY2025 10-Q · filed Aug 29, 2025

No corresponding language in the FY2025 10-Q.

Filing text · FY2026 10-Q · filed Aug 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."

Marvell Technology,, Form 10-Q for FY2026, Part I, Item 2, accession 0001835632-26-000025, filed 28 August 2026.

Filing: https://www.sec.gov/Archives/edgar/data/1835632/000183563226000025/mrvl-20260801.htm

Comparison: https://yearover.com/reports/mrvl/0001835632-26-000025?ref=quote

05AddedPart I, Item 2 › Overview

Summary · quote-checked

Added disclosure of a customer warrant covering up to 59.0 million shares, with vesting conditions and a seven-year exercise term.

The new paragraph discloses a customer-related equity instrument, potential share issuance, exercise terms, and revenue or time-based vesting conditions—new obligations and dilution-related exposure.

Why the model ranked it here

This introduces a customer-linked warrant that creates potential share issuance and a new equity-related obligation tied to vesting conditions.

Filing text · FY2025 10-Q · filed Aug 29, 2025

No corresponding language in the FY2025 10-Q.

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

[added] Subsequent to quarter end, we issued a warrant to a customer to purchase an aggregate of up to 59.0 million of our common stock at an exercise price of $206.58 per share over a seven year term expiring in August 2033. The warrant is eligible for vesting from our third quarter of fiscal 2027 through the end of fiscal 2033, upon meeting certain revenue milestone conditions or time-based conditions.

Cite this change

"Subsequent to quarter end, we issued a warrant to a customer to purchase an aggregate of up to 59.0 million of our common stock at an exercise price of $206.58 per share over a seven year term expiring in August 2033."

Marvell Technology,, Form 10-Q for FY2026, Part I, Item 2, accession 0001835632-26-000025, filed 28 August 2026.

Filing: https://www.sec.gov/Archives/edgar/data/1835632/000183563226000025/mrvl-20260801.htm

Comparison: https://yearover.com/reports/mrvl/0001835632-26-000025?ref=quote

06AddedPart I, Item 2 › Overview

Summary · quote-checked

Added disclosure of the completed Celestial AI acquisition and its expected role in advancing connectivity for AI and cloud data centers.

The new paragraph introduces a completed acquisition, names the acquired company and technology, and states an expected strategic effect, changing the disclosed business events and dependencies.

Why the model ranked it here

This reports a completed acquisition that adds a new technology platform and explicitly redirects the company’s connectivity strategy toward AI and cloud data centers.

Filing text · FY2025 10-Q · filed Aug 29, 2025

No corresponding language in the FY2025 10-Q.

Filing text · FY2026 10-Q · filed Aug 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. The acquisition of Celestial is expected to accelerate our connectivity strategy for next-generation AI and cloud data centers."

Marvell Technology,, Form 10-Q for FY2026, Part I, Item 2, accession 0001835632-26-000025, filed 28 August 2026.

Filing: https://www.sec.gov/Archives/edgar/data/1835632/000183563226000025/mrvl-20260801.htm

Comparison: https://yearover.com/reports/mrvl/0001835632-26-000025?ref=quote

07AddedPart 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 new paragraph discloses a completed acquisition and resulting business changes, introducing a substantive transaction and strategic dependency absent from the prior report.

Why the model ranked it here

This reports a completed acquisition that expands the switching portfolio and adds capabilities to the company’s scale-up networking team.

Filing text · FY2025 10-Q · filed Aug 29, 2025

No corresponding language in the FY2025 10-Q.

Filing text · FY2026 10-Q · filed Aug 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. The acquisition of XConn expands our switching portfolio and augments our UALinkTM scale-up switch team."

Marvell Technology,, Form 10-Q for FY2026, Part I, Item 2, accession 0001835632-26-000025, filed 28 August 2026.

Filing: https://www.sec.gov/Archives/edgar/data/1835632/000183563226000025/mrvl-20260801.htm

Comparison: https://yearover.com/reports/mrvl/0001835632-26-000025?ref=quote

08AddedPart I, Item 2 › Three and six months ended August 1, 2026 and August 2, 2025

Summary · quote-checked

Added disclosure of tax-return examinations, uncertain audit outcomes, and potential income-tax provision adjustments.

The new paragraph introduces tax-audit exposure, adverse-outcome uncertainty, and a potential tax provision obligation, changing the substance of the MD&A disclosure.

Why the model ranked it here

This introduces tax-authority examinations and the possibility of unfavorable outcomes requiring adjustments to income-tax provisions.

Filing text · FY2025 10-Q · filed Aug 29, 2025

No corresponding language in the FY2025 10-Q.

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

[added] We are subject to the examination of our income tax returns by the Internal Revenue Service and other tax authorities. The outcome of these audits cannot be predicted with certainty. Management regularly assesses the likelihood of adverse outcomes resulting from these examinations to determine the adequacy of our provision for income taxes. If any issues addressed in our tax audits are resolved in a manner not consistent with management's expectations, we could be required to adjust our provision for income taxes in the period such resolution occurs.

Cite this change

"We are subject to the examination of our income tax returns by the Internal Revenue Service and other tax authorities."

Marvell Technology,, Form 10-Q for FY2026, Part I, Item 2, accession 0001835632-26-000025, filed 28 August 2026.

Filing: https://www.sec.gov/Archives/edgar/data/1835632/000183563226000025/mrvl-20260801.htm

Comparison: https://yearover.com/reports/mrvl/0001835632-26-000025?ref=quote

Show all 13 in Part I, Item 2 (5 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.

5 material removals

Part I, Item 2 · MD&A

5 of 5 shown · In filing order, too few to rank

01RemovedPart I, Item 2 › Overview

Summary · quote-checked

The MD&A paragraph describing the automotive ethernet business sale, related assets, transition services, and expected gain was removed.

The removed paragraph disclosed a divestiture, sale proceeds, assets held for sale, intellectual-property licensing, transition services, and an expected gain—substantive transaction and obligation information.

Filing text · FY2025 10-Q · filed Aug 29, 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 August 2, 2025, we classified assets held for sale of $595.5 million, which consisted of $33.0 million of inventories, $20.3 million of property and equipment, $524.7 million of goodwill, $14.0 million of acquired intangible assets, and other related assets. Subsequent to quarter end, on August 14, 2025, we completed the sale of our automotive ethernet business to the Buyer for $2.5 billion. We expect to record a gain on sale in the third quarter of fiscal 2026. See "Note 1 - Basis of Presentation" in the Notes to Unaudited Condensed Consolidated Financial Statements for further information.

Filing text · FY2026 10-Q · filed Aug 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 0001835632-25-000189, filed 29 August 2025.

Filing: https://www.sec.gov/Archives/edgar/data/1835632/000183563225000189/mrvl-20250802.htm

Comparison: https://yearover.com/reports/mrvl/0001835632-26-000025?ref=quote

02RemovedPart I, Item 2 › Overview

Summary · quote-checked

Removed a statement that an item represented less than 10% of net revenue.

The removed sentence contains a quantitative revenue-share disclosure. Its context is limited, but removing that factual statement changes the disclosed financial information.

Filing text · FY2025 10-Q · filed Aug 29, 2025

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

Filing text · FY2026 10-Q · filed Aug 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 0001835632-25-000189, filed 29 August 2025.

Filing: https://www.sec.gov/Archives/edgar/data/1835632/000183563225000189/mrvl-20250802.htm

Comparison: https://yearover.com/reports/mrvl/0001835632-26-000025?ref=quote

03RemovedPart I, Item 2 › Three and six months ended August 2, 2025 and August 3, 2024

Summary · quote-checked

Removed disclosure that the automotive ethernet business sale was completed and that its tax impact was expected in the following quarter.

The removed paragraph disclosed a completed business sale, transaction proceeds, and a related tax impact, representing substantive transaction and obligation information.

Filing text · FY2025 10-Q · filed Aug 29, 2025

[removed] Subsequent to quarter end, on August 14, 2025, we completed the sale of our automotive ethernet business to the Buyer for $2.5 billion. We expect to record the tax impact related to the gain on sale in the third quarter of fiscal 2026.

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

No corresponding language in the FY2026 10-Q.

Cite this change

"Subsequent to quarter end, on August 14, 2025, we completed the sale of our automotive ethernet business to the Buyer for $2.5 billion. We expect to record the tax impact related to the gain on sale in the third quarter of fiscal 2026."

Marvell Technology,, Form 10-Q for FY2025, Part I, Item 2, accession 0001835632-25-000189, filed 29 August 2025.

Filing: https://www.sec.gov/Archives/edgar/data/1835632/000183563225000189/mrvl-20250802.htm

Comparison: https://yearover.com/reports/mrvl/0001835632-26-000025?ref=quote

04RemovedPart I, Item 2 › Liquidity and Capital Resources

Summary · quote-checked

The current filing removes disclosure that the 5-Year Tranche Loan was repaid in full after a $32.8 million repayment.

The removed paragraph disclosed a debt repayment, remaining principal, and maturity, changing the stated debt obligation and liquidity information.

Filing text · FY2025 10-Q · filed Aug 29, 2025

[removed] During the first quarter of fiscal 2026, we repaid $32.8 million of the principal outstanding of the 5-Year Tranche Loan. During the second quarter of fiscal 2026, the 5-Year Tranche Loan, due on April 20, 2026, which had a remaining principal of $557.8 million, was repaid in full.

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

No corresponding language in the FY2026 10-Q.

Cite this change

"During the first quarter of fiscal 2026, we repaid $32.8 million of the principal outstanding of the 5-Year Tranche Loan. During the second quarter of fiscal 2026, the 5-Year Tranche Loan, due on April 20, 2026, which had a remaining principal of $557.8 million, was repaid in full."

Marvell Technology,, Form 10-Q for FY2025, Part I, Item 2, accession 0001835632-25-000189, filed 29 August 2025.

Filing: https://www.sec.gov/Archives/edgar/data/1835632/000183563225000189/mrvl-20250802.htm

Comparison: https://yearover.com/reports/mrvl/0001835632-26-000025?ref=quote

05RemovedPart I, Item 2 › Liquidity and Capital Resources

Summary · quote-checked

The current filing removes disclosure that the automotive ethernet business was sold for $2.5 billion and that a gain was expected.

The removed paragraph disclosed a completed divestiture, transaction proceeds, and an expected gain, changing reported information about a significant transaction and its financial effect.

Filing text · FY2025 10-Q · filed Aug 29, 2025

[removed] Subsequent to quarter end, on August 14, 2025, we completed the sale of our automotive ethernet business to the Buyer for $2.5 billion. We expect to record a gain on sale in the third quarter of fiscal 2026. See "Note 1 - Basis of Presentation" in the Notes to Unaudited Condensed Consolidated Financial Statements for further information.

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

No corresponding language in the FY2026 10-Q.

Cite this change

"Subsequent to quarter end, on August 14, 2025, we completed the sale of our automotive ethernet business to the Buyer for $2.5 billion."

Marvell Technology,, Form 10-Q for FY2025, Part I, Item 2, accession 0001835632-25-000189, filed 29 August 2025.

Filing: https://www.sec.gov/Archives/edgar/data/1835632/000183563225000189/mrvl-20250802.htm

Comparison: https://yearover.com/reports/mrvl/0001835632-26-000025?ref=quote

What the company says differently

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

40 material changes

Part I, Item 2 · MD&A

5 of 40 shown · Ordered by the model, quote-checked

01ChangedPart I, Item 2 › Cash Flows from Financing Activities

Summary · quote-checked

Financing cash flow changed from $618.1 million used, driven by repurchases and obligations, to $1.6 billion provided, including preferred-stock and borrowing proceeds.

The financing direction, amount, and stated drivers changed substantively, including newly disclosed preferred-stock issuance and borrowings and different debt, repurchase, tax, and dividend amounts.

Why the model ranked it here

The financing cash-flow direction reversed because the company disclosed substantial preferred-stock and borrowing proceeds alongside debt repayment and capital returns.

Filing text · FY2025 10-Q · filed Aug 29, 2025

For the six months ended August ~~[removed] 3, 2024,~~ net cash ~~[removed] used in~~ financing activities of ~~[removed] $618.1 million~~ was primarily attributable to ~~[removed] $325.0~~ million repurchases of common stock, ~~[removed] $131.7~~ million for tax withholding payments on behalf of employees for net share settlements, ~~[removed] $103.7~~ million for payment of our quarterly dividends, ~~[removed] $65.5~~ million payments on technology license ~~[removed] obligations, and $43.8 million repayment of debt principal, partially offset by $51.6 million in proceeds from the issuance of common stock under our employee stock plans.~~

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

For the six months ended August [added] 1, 2026, net cash [added] provided by financing activities of [added] $1.6 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, $400.0 million repurchases of common stock, [added] $365.2 million for tax withholding payments on behalf of employees for net share settlements, [added] $107.7 million for payment of our quarterly dividends, [added] and $56.6 million payments on technology license [added] obligations.

Cite this change

"For the six months ended August 1, 2026, net cash provided by financing activities of $1.6 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, $400.0 million repurchases of common stock, $365.2 million for tax withholding payments on behalf of employees for net share settlements, $107.7 million for payment of our quarterly dividends, and $56.6 million payments on technology license obligations."

Marvell Technology,, Form 10-Q for FY2026, Part I, Item 2, accession 0001835632-26-000025, filed 28 August 2026.

Filing: https://www.sec.gov/Archives/edgar/data/1835632/000183563226000025/mrvl-20260801.htm

Comparison: https://yearover.com/reports/mrvl/0001835632-26-000025?ref=quote

02ChangedPart I, Item 2 › Liquidity and Capital Resources

Summary · quote-checked

The disclosure shifts from a 2025 offering of 2030 and 2035 Senior Notes to a 2026 offering of 2036 Senior Notes used partly to repay 2026 Senior Notes.

The paragraph now describes a different debt issuance, maturity profile, amount, and repayment of existing notes, changing disclosed financing obligations and liquidity activity.

Why the model ranked it here

The company disclosed a new senior-notes issuance and used part of the proceeds to repay maturing debt, changing its financing obligations and maturity profile.

Filing text · FY2025 10-Q · filed Aug 29, 2025

On ~~[removed] June 30, 2025,~~ we completed a debt offering and issued ~~[removed] (i) $500.0 million of~~ Senior Notes with a ~~[removed] 5-year~~ term due in ~~[removed] 2030 ("2030 Senior Notes") and (ii) $500.0 million of~~ Senior Notes ~~[removed] with a 10-year term due in 2035 ("2035 Senior Notes").~~

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

On [added] April 15, 2026, we completed a debt offering and issued [added] $1.0 billion Senior Notes with a [added] 10-year term due in [added] 2036 ("2036 Senior Notes"). We used a portion of the net proceeds from the 2036 Senior Notes [added] 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 0001835632-26-000025, filed 28 August 2026.

Filing: https://www.sec.gov/Archives/edgar/data/1835632/000183563226000025/mrvl-20260801.htm

Comparison: https://yearover.com/reports/mrvl/0001835632-26-000025?ref=quote

03ChangedPart I, Item 2 › Liquidity and Capital Resources

Summary · quote-checked

Reported cash and cash equivalents increased, while cash held by foreign subsidiaries also changed in amount.

The fiscal date rolls forward, but the changed liquidity and foreign-held cash figures alter what the filing states about available funds and geographic cash concentration.

Why the model ranked it here

The company reported substantially more cash but also a larger amount held by foreign subsidiaries, changing the stated liquidity position and geographic concentration of funds.

Filing text · FY2025 10-Q · filed Aug 29, 2025

Our principal source of liquidity as of August ~~[removed] 2, 2025~~ consisted of approximately ~~[removed] $1.2~~ billion of cash and cash equivalents, of which approximately ~~[removed] $973.8 million~~ was held by subsidiaries outside of the United States, a portion of which are deemed to be indefinitely reinvested. We manage our worldwide cash requirements by, among other things, reviewing available funds held by our foreign subsidiaries and the cost effectiveness by which those funds can be accessed in the United States.

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

Our principal source of liquidity as of August [added] 1, 2026 consisted of approximately [added] $3.9 billion of cash and cash equivalents, of which approximately [added] $1.7 billion was held by subsidiaries outside of the United States, a portion of which are deemed to be indefinitely reinvested. We manage our worldwide cash requirements by, among other things, reviewing available funds held by our foreign subsidiaries and the cost effectiveness by which those funds can be accessed in the United States.

Cite this change

"Our principal source of liquidity as of August 1, 2026 consisted of approximately $3.9 billion of cash and cash equivalents, of which approximately $1.7 billion was held by subsidiaries outside of the United States, a portion of which are deemed to be indefinitely reinvested."

Marvell Technology,, Form 10-Q for FY2026, Part I, Item 2, accession 0001835632-26-000025, filed 28 August 2026.

Filing: https://www.sec.gov/Archives/edgar/data/1835632/000183563226000025/mrvl-20260801.htm

Comparison: https://yearover.com/reports/mrvl/0001835632-26-000025?ref=quote

04ChangedPart I, Item 2 › Liquidity and Capital Resources

Summary · quote-checked

The liquidity disclosure adds income tax related to the sale of the automotive ethernet business among commitments covered for the next twelve months.

The added tax obligation substantively changes the stated liquidity requirements; the note-number update and punctuation are secondary wording or boilerplate changes.

Why the model ranked it here

The liquidity assessment now expressly includes income tax related to the automotive ethernet sale among commitments expected to be covered.

Filing text · FY2025 10-Q · filed Aug 29, 2025

We believe that our existing cash and cash equivalents, together with cash generated from operations, and funds from our 2025 Revolving Credit Facility will be sufficient to cover our working capital needs, capital expenditures, investment requirements, any declared dividends, repurchases of our common ~~[removed] stock and~~ commitments (including those discussed in "Note ~~[removed] 8~~ - Commitments and Contingencies" in the Notes to Unaudited Condensed Consolidated Financial ~~[removed] Statements)~~ for at least the next twelve months. Our capital requirements will depend on many factors, including our rate of sales growth, market acceptance of our products, costs of securing access to adequate manufacturing capacity, the timing and extent of research and development projects and increases in operating expenses, all of which are subject to uncertainty.

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

We believe that our existing cash and cash equivalents, together with cash generated from operations, and funds from our 2025 Revolving Credit Facility will be sufficient to cover our working capital needs, capital expenditures, investment requirements, any declared dividends, repurchases of our common [added] stock, commitments (including those discussed in "Note [added] 9 - Commitments and Contingencies" in the Notes to Unaudited Condensed Consolidated Financial [added] Statements), and the income tax related to the sale of our automotive ethernet business, for at least the next twelve months. Our capital requirements will depend on many factors, including our rate of sales growth, market acceptance of our products, costs of securing access to adequate manufacturing capacity, the timing and extent of research and development projects and increases in operating expenses, all of which are subject to uncertainty.

Cite this change

"We believe that our existing cash and cash equivalents, together with cash generated from operations, and funds from our 2025 Revolving Credit Facility will be sufficient to cover our working capital needs, capital expenditures, investment requirements, any declared dividends, repurchases of our common stock, commitments (including those discussed in "Note 9 - Commitments and Contingencies" in the Notes to Unaudited Condensed Consolidated Financial Statements), and the income tax related to the sale of our automotive ethernet business, for at least the next twelve months."

Marvell Technology,, Form 10-Q for FY2026, Part I, Item 2, accession 0001835632-26-000025, filed 28 August 2026.

Filing: https://www.sec.gov/Archives/edgar/data/1835632/000183563226000025/mrvl-20260801.htm

Comparison: https://yearover.com/reports/mrvl/0001835632-26-000025?ref=quote

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

Summary · quote-checked

Investing cash use increased and acquired businesses became a stated primary driver, alongside higher property and equipment purchases.

The paragraph adds acquisitions as a major investing cash outflow and changes the reported amount and drivers, providing substantively different information about investment activity.

Why the model ranked it here

Investing cash use shifted materially toward acquisitions, indicating a substantially different source of investment outflows.

Filing text · FY2025 10-Q · filed Aug 29, 2025

For the six months ended August ~~[removed] 3, 2024,~~ net cash used in investing activities of ~~[removed] $154.9 million~~ was primarily driven by purchases of property and equipment of ~~[removed] $139.7~~ million.

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

For the six months ended August [added] 1, 2026, net cash used in investing activities of [added] $1.6 billion was primarily driven by [added] acquisitions, net of cash acquired of $1.3 billion, and purchases of property and equipment of [added] $282.4 million.

Cite this change

"For the six months ended August 1, 2026, net cash used in investing activities of $1.6 billion was primarily driven by acquisitions, net of cash acquired of $1.3 billion, and purchases of property and equipment of $282.4 million."

Marvell Technology,, Form 10-Q for FY2026, Part I, Item 2, accession 0001835632-26-000025, filed 28 August 2026.

Filing: https://www.sec.gov/Archives/edgar/data/1835632/000183563226000025/mrvl-20260801.htm

Comparison: https://yearover.com/reports/mrvl/0001835632-26-000025?ref=quote

Show all 40 in Part I, Item 2 (35 more, in filing order)

What the company reported as changed this quarter

We have not parsed the annual report this quarter's risk factors refers to, so we cannot tell whether it restates the section or reports changes to it. Nothing is compared until we can.

Part II, Item 1A · Risk Factors

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