Marvell Technology, Inc. stock research
FY2025 Q1
Marvell Technology (MRVL) Gross Margin — Quarter Ended May 4, 2024
Revenue decreased from the prior quarter, resulting in lower gross profit and cost of revenue. Gross margin weakened compared to the preceding quarter but improved compared to the same quarter one year earlier.
Gross margin takeaway
Quarter ended May 4, 2024 · FY2025 Q1
Revenue decreased from the prior quarter, resulting in lower gross profit and cost of revenue. Gross margin weakened compared to the preceding quarter but improved compared to the same quarter one year earlier.
- The relationship among revenue, cost of revenue, and gross profit shows that the decline in gross profit was proportional to the decrease in revenue, while gross margin remained relatively stable quarter over quarter.
- Compared to the immediately preceding quarter, revenue and gross profit were both lower, and gross margin weakened slightly. Compared to the same quarter one year earlier, revenue was lower but gross profit was higher, and gross margin improved.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
45.5%
Gross profit
$527.8M
Revenue
$1.2B
Cost of revenue
$633.1M
Quarter-over-quarter change
-1.1 pts
Year-over-year change
+3.3 pts
Quarterly gross margin trend
A four-quarter view of the revenue and direct-cost bridge behind gross margin.
| Period | Revenue | Gross profit | Cost of revenue | Gross margin |
|---|---|---|---|---|
| Jul 29, 2023 | $1.3B | $521.1M | $819.8M | 38.9% |
| Oct 28, 2023 | $1.4B | $551.2M | $867.4M | 38.9% |
| Feb 3, 2024 | $1.4B | $664.1M | $762.4M | 46.6% |
| May 4, 2024 | $1.2B | $527.8M | $633.1M | 45.5% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Feb 3, 2024
-1.1 pts
Year-over-year change
Apr 29, 2023
+3.3 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The relationship among revenue, cost of revenue, and gross profit shows that the decline in gross profit was proportional to the decrease in revenue, while gross margin remained relatively stable quarter over quarter.
Compared to the immediately preceding quarter, revenue and gross profit were both lower, and gross margin weakened slightly. Compared to the same quarter one year earlier, revenue was lower but gross profit was higher, and gross margin improved.
Monitor the trend in gross margin relative to cost of revenue changes given the sequential decline in revenue.