Marvell Technology, Inc. stock research
FY2026 Q3
Marvell Technology (MRVL) Gross Margin — Quarter Ended Nov 1, 2025
Revenue and gross profit both increased from the prior quarter and from the same quarter last year, while cost of revenue changed comparatively less. Gross margin improved in both sequential and year-over-year comparisons as a result.
Gross margin takeaway
Quarter ended Nov 1, 2025 · FY2026 Q3
Revenue and gross profit both increased from the prior quarter and from the same quarter last year, while cost of revenue changed comparatively less. Gross margin improved in both sequential and year-over-year comparisons as a result.
- The movement in cost of revenue was proportionally smaller than the increase in revenue, which supported the gross margin expansion.
- Compared to the immediately preceding quarter, gross margin was higher. Compared to the same quarter one year earlier, gross margin was also higher.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
51.6%
Gross profit
$1.1B
Revenue
$2.1B
Cost of revenue
$1.0B
Quarter-over-quarter change
+1.2 pts
Year-over-year change
+28.5 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 |
|---|---|---|---|---|
| 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% |
| Nov 1, 2025 | $2.1B | $1.1B | $1.0B | 51.6% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Aug 2, 2025
+1.2 pts
Year-over-year change
Nov 2, 2024
+28.5 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The movement in cost of revenue was proportionally smaller than the increase in revenue, which supported the gross margin expansion.
Compared to the immediately preceding quarter, gross margin was higher. Compared to the same quarter one year earlier, gross margin was also higher.
Monitor the trend in cost of revenue relative to revenue, as its smaller proportional increase was the key observable factor behind the margin improvement.