Marvell Technology, Inc.MRVL

Marvell Technology, Inc. Segments Disclosure

10-KFiled Mar 11, 20262 min read
Segment and Geographic Information
The Company operates in one reportable segment — the design, development and sale of integrated circuits. The chief executive officer was identified as the chief operating decision maker (“CODM”). Based on his direct involvement with the Company’s operations and product development, the CODM is ultimately responsible for and actively involved in the allocation of resources and the assessment of the Company’s performance using consolidated net income (loss) reported on the consolidated statements of operations. The Company’s organizational structure is based along functional lines, with each of the functional department heads, as well as shared resources, reporting directly to the CODM or to a direct report of the CODM. The Company uses a highly-integrated approach in developing its products in that discrete technologies developed by the Company are frequently integrated across many of its products, and substantially all of the Company’s integrated circuits are manufactured under similar manufacturing processes. Accordingly, the Company operates under a single operating segment.

The following table presents a summary of consolidated net income (loss) inclusive of significant segment expenses and other expense information provided to the CODM (in millions):
Year Ended
January 31,
2026		February 1,
2025		February 3,
2024
Net revenue
$8,194.6 $5,767.3 $5,507.7 
Less:
Product costs (a)
3,322.8 2,246.7 2,136.8 
Employee compensation and related in operating expenses
1,359.0 1,319.9 1,276.1 
Amortization of acquired intangible assets
942.0 1,052.6 1,097.9 
Restructuring related charges, net (b)
16.0 711.8 131.1 
Stock-based compensation
590.8 597.4 609.8 
Engineering design related costs
265.4 219.1 180.4 
Interest expense
202.6 189.4 211.7 
Provision (benefit) for income taxes
376.5 (9.7)174.7 
Other segment items (c)
(1,550.6)325.1 622.6 
Net income (loss)
$2,670.1 $(885.0)$(933.4)

(a)Includes material, labor and other product related costs, excluding the other categories above.
(b)Restructuring related charges of $0.5 million and $357.9 million are included in cost of goods sold, and $15.5 million and $353.9 million are included in operating expenses for the years ended January 31, 2026 and February 1, 2025, respectively, in the accompanying consolidated statements of operations.
(c)Includes depreciation and amortization expenses, facilities expenses, legal expenses, interest income and other income and expenses, including gain on sale of business. See “Note 1 – Basis of Presentation” for discussion of the automotive ethernet business divestiture.

This expense information is based on management's internal view of expense classification when reviewing aspects of financial and operating performance of the business, and may not be representative of expense classification that is comparable to other peer companies' internal management views. As a result, this expense information should not be considered in isolation or as substitute for analysis of Marvell’s results in conjunction with the accompanying consolidated financial statements and notes thereto.
The following table presents long-lived asset information by geographic region (in millions):
January 31,
2026		February 1,
2025
Property and equipment, net:
United States$495.9 $398.6 
Singapore327.8 321.0 
Other
111.3 70.9 
$935.0 $790.5 
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Historical Timeline

Fiscal YearFiled
2026Mar 11, 2026Showing above
2025Mar 12, 2025
2024Mar 13, 2024
2023Mar 9, 2023
2022Mar 10, 2022

About Segments Disclosures

Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.

Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.

Other Available Disclosures

Income TaxesRevenueFair ValueGoodwill & IntangiblesLeasesDebtCommitmentsNew StandardsPay vs Performance