Marvell Technology, Inc. stock research
FY2026 Q2
Marvell Technology (MRVL) Gross Margin — Quarter Ended Aug 2, 2025
Revenue, gross profit, and cost of revenue all increased compared to the same quarter last year, with gross profit growing faster than cost of revenue, resulting in a higher gross margin. Relative to the prior quarter, revenue and gross profit also rose, while gross margin remained stable at a slightly higher level.
Gross margin takeaway
Quarter ended Aug 2, 2025 · FY2026 Q2
Revenue, gross profit, and cost of revenue all increased compared to the same quarter last year, with gross profit growing faster than cost of revenue, resulting in a higher gross margin. Relative to the prior quarter, revenue and gross profit also rose, while gross margin remained stable at a slightly higher level.
- The strongest observable margin driver is the expansion in gross margin year over year, as revenue growth outpaced the increase in cost of revenue, leading to a higher proportion of gross profit relative to revenue.
- Gross margin for the current quarter is higher than the same quarter one year earlier and slightly higher than the immediately preceding quarter. Revenue and gross profit both increased compared to both prior periods, while cost of revenue also rose but at a slower pace relative to revenue.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
50.4%
Gross profit
$1.0B
Revenue
$2.0B
Cost of revenue
$995.5M
Quarter-over-quarter change
+0.1 pts
Year-over-year change
+4.2 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 |
|---|---|---|---|---|
| Nov 2, 2024 | $1.5B | $349.4M | $1.2B | 23.0% |
| Feb 1, 2025 | $1.8B | $917.4M | $900.0M | 50.5% |
| May 3, 2025 | $1.9B | $952.4M | $942.9M | 50.3% |
| Aug 2, 2025 | $2.0B | $1.0B | $995.5M | 50.4% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
May 3, 2025
+0.1 pts
Year-over-year change
Aug 3, 2024
+4.2 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The strongest observable margin driver is the expansion in gross margin year over year, as revenue growth outpaced the increase in cost of revenue, leading to a higher proportion of gross profit relative to revenue.
Gross margin for the current quarter is higher than the same quarter one year earlier and slightly higher than the immediately preceding quarter. Revenue and gross profit both increased compared to both prior periods, while cost of revenue also rose but at a slower pace relative to revenue.
Monitor the company's liquidity and capital resources, particularly the impact of the amended credit facility that increased borrowing capacity to a higher level, as disclosed in the filing.