Quarterly guidance

Revenue
$3.15 billion, plus or minus 5%.
Non-GAAP Gross Margin
57.5% to 58.5%.
Non-GAAP EPS
$1.05 to $1.15.

Annual guidance

FY2027 Revenue
Approximately $12 billion, up from the prior outlook of approximately $11.5 billion.
FY2028 Revenue
Approximately $18 billion, up from the prior outlook of $16.5 billion.

Outlook

Data Center Growth
Expected to grow approximately 60% in FY2027 and more than 60% in FY2028.
Custom Business
Expected to more than double in FY2028 and accelerate significantly in FY2029.
Operating Leverage
Non-GAAP operating margins are expected to reach the 38% to 40% target range in Q4 FY2027.
Capacity
The company plans to make $1 billion in capacity prepayments in FY2027.
Communications and Other
Expected to decline in the low to mid-teens percentage range in Q3 before a solid recovery in Q4.
Scale-up Optics
Revenue outlook has increased meaningfully, positioning Marvell as a major enabler of NPO in AI infrastructure.