← Marvell Technology, Inc.
| Annual Trend | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | FY 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and cash equivalents | $45.3m | $4.5m | $30.3m | $748.5m | $613.5m | $911.0m | $950.8m | $948.3m | $2.6b | |
| Accounts receivable, net | $24.3m | $68.5m | $48.2m | $536.7m | $1.0b | $1.2b | $1.1b | $1.0b | $2.2b | |
| Inventories | $6.8m | $1.3m | $2.0m | $268.2m | $720.3m | $1.1b | $864.4m | $1.0b | $1.4b | |
| Prepaid expenses and other current assets | — | — | — | $63.8m | $111.0m | $109.6m | $125.9m | $113.9m | $247.2m | |
| Short-term investments | — | — | — | — | $0 | $184.2m | $88.1m | $3.6m | — | |
| Notes receivable | $4.0m | $3.1m | $4.2m | $6.3m | $10.8m | $3.7m | $1.3m | $0 | — | |
| Other receivables, net | $5.4m | $5.7m | $6.4m | $6.9m | $5.5m | $2.2m | $3.6m | $3.8m | — | |
| Prepaid expenses | $510k | $193k | $198k | $146k | $420k | $350k | $402k | $389k | — | |
| Long-term other receivables, net | $0 | $440k | $4k | $115k | $1.6m | $4k | $0 | — | — | |
| Prepaid expenses - related parties | $0 | $218k | $0 | $433k | $275k | $0 | — | — | — | |
| Trade accounts receivable-related party, net | $0 | $3.4m | $3.1m | $0 | — | — | — | — | — | |
| Long-term trade accounts receivable, net | $4.2m | $0 | — | — | — | — | — | — | — | |
| Total current assets | $100.8m | $97.8m | $129.3m | $1.6b | $2.5b | $3.3b | $3.1b | $3.1b | $6.5b | |
| Property and equipment, net | $3.2m | $3.7m | $29.8m | $326.1m | $462.8m | $577.4m | $756.0m | $790.5m | $935.0m | |
| Goodwill | — | — | — | $5.3b | $11.5b | $11.6b | $11.6b | $11.6b | $11.1b | |
| Acquired intangible assets, net | — | — | — | $2.3b | $6.2b | $5.1b | $4.0b | $2.7b | $1.8b | |
| Operating lease right-of-use assets, net (including ¥1,769,840 and ¥696,851($97,277) from a related party as of June 30, 2024 and June 30, 2025, respectively) | — | — | — | — | — | $2.7m | $23.5m | $19.0m | — | |
| Operating lease right-of-use assets (including ¥765,241 and ¥335,976 ($46,333) from a related party as of June 30, 2022 and 2023, respectively) | — | $0 | $2.5m | $7.9m | $6.7m | $2.7m | — | — | — | |
| Deferred tax assets | — | — | — | $672.4m | $493.5m | $465.9m | $311.9m | $401.2m | $345.9m | |
| Other non-current assets | — | — | — | $541.6m | $994.3m | $1.5b | $1.5b | $1.6b | $1.7b | |
| Other non-current liabilities | — | — | — | $258.9m | $533.1m | $590.5m | $524.3m | $816.4m | $785.6m | |
| Restricted cash | — | — | — | $0 | $724k | $732k | $849k | $8k | — | |
| Loans to third parties-short term | — | — | — | — | — | — | $208.9m | $141.6m | — | |
| Purchase advances, net | $12.7m | $1.3m | $179k | $1.1m | $178k | $2.7m | $5.2m | $14.6m | — | |
| Contract costs, net | — | — | $31.5m | $48.8m | $33.9m | $49.6m | $48.3m | $53.5m | — | |
| Deferred offering cost | — | — | — | — | — | — | $0 | $2.5m | — | |
| Construction in progress | $11.8m | $21.5m | $27.2m | — | $240k | $0 | $219k | $12.0m | — | |
| Loans to third parties-long term | — | — | — | — | — | — | — | $118.5m | — | |
| Short-term bank loans | $0 | $2.5m | $9.5m | $15.0m | $10.0m | $12.5m | $12.4m | $11.6m | — | |
| Other payables | $3.3m | $2.2m | $2.6m | $9.9m | $3.5m | $8.4m | $5.1m | $9.1m | — | |
| Contract liabilities | — | $120k | $3.5m | $7.7m | $2.0m | $2.7m | $1.8m | $4.7m | — | |
| Taxes payable | $432k | $2.2m | $1.1m | $1.2m | $2.2m | $1.2m | $993k | $796k | — | |
| Short-term borrowings - related parties | — | — | $10.2m | $12.7m | $9.0m | $20.0m | $10.0m | $10.0m | — | |
| Operating lease liabilities - current (including ¥1,775,114 and ¥355,601 ($49,640) from related parties as of June 30, 2024 and June 30, 2025, respectively) | — | $0 | $1.3m | $2.2m | $3.9m | $3.1m | $3.7m | $1.8m | — | |
| Operating lease liabilities - non-current (including ¥335,976 and nil from related parties as of June 30, 2024 and June 30, 2025, respectively) | — | $0 | $1.2m | $4.8m | $2.2m | $25k | $4.0m | $1.1m | — | |
| Long-term borrowings - related party | $8.9m | $8.2m | $7.4m | $6.5m | $5.5m | $0 | $10.0m | $10.0m | — | |
| Warrant liability - non-current | — | — | — | $190.6m | $16.7m | $31.6m | $7k | $688 | — | |
| Statutory reserve | $4.1m | $4.1m | $4.1m | $4.1m | $4.1m | $4.1m | $4.1m | $4.1m | — | |
| Non-controlling interests | $10.9m | $11.1m | $10.6m | ($7.6m) | ($7.7m) | ($10.1m) | ($11.6m) | ($13.5m) | — | |
| Loans to third parties | $2.0m | $5.0m | $3.2m | $50.5m | $50.4m | $123.1m | $208.9m | — | — | |
| Other payable- related parties | — | — | $4.5m | $2.4m | $2.2m | $2.6m | — | — | — | |
| Long-term borrowings - related party - current portion | $720k | $781k | $847k | $920k | $1,000k | — | — | — | — | |
| Contract liabilities - non-current | — | — | — | — | $106k | $0 | — | — | — | |
| Land use right, net | $1.3m | $1.3m | $1.3m | $1.3m | $1.2m | — | — | — | — | |
| Investment in unconsolidated entity | $0 | $31.1m | $31.5m | $27.9m | — | — | — | — | — | |
| Short-term borrowings | $0 | $1.1m | $200k | $530k | $0 | — | — | — | — | |
| Investment payable | $0 | $6.4m | $6.4m | — | — | — | — | — | — | |
| Contract assets, net | $0 | $4.6m | $31.5m | — | — | — | — | — | — | |
| Prepayments for construction in progress | $474k | $1.1m | $0 | — | — | — | — | — | — | |
| Total stockholders’ equity | $76.0m | $95.6m | $110.0m | $8.4b | $15.7b | $15.6b | $14.8b | $13.4b | $14.3b | |
| Total shareholders' equity | $86.9m | $106.7m | $120.6m | $287.5m | $412.9m | $439.2m | $490.9m | $454.0m | — | |
| Total assets | $121.8m | $157.0m | $194.4m | $10.8b | $22.1b | $22.5b | $21.2b | $20.2b | $22.3b | |
| Total liabilities and stockholders’ equity | $121.8m | $157.0m | $194.4m | $10.8b | $22.1b | $22.5b | $21.2b | $20.2b | $22.3b | |
| Accounts payable | — | — | — | $252.4m | $461.5m | $465.8m | $411.3m | $622.2m | $1.1b | |
| Accrued liabilities | — | — | — | $435.6m | $622.6m | $1.1b | $1.0b | $972.6m | $1.3b | |
| Accrued employee compensation | $600k | $1.4m | $1.9m | $189.4m | $241.3m | $244.5m | $262.7m | $302.5m | $309.8m | |
| Short-term debt | $0 | — | — | $199.6m | $63.2m | $584.4m | $107.3m | $129.5m | $499.8m | |
| Trade accounts payable | $8.8m | $14.1m | $23.0m | $22.0m | $16.7m | — | — | — | — | |
| Total current liabilities | $26.0m | $42.1m | $65.2m | $1.1b | $1.4b | $2.4b | $1.8b | $2.0b | $3.2b | |
| Long-term debt | — | — | — | $993.2m | $4.5b | $3.9b | $4.1b | $3.9b | $4.0b | |
| Deferred tax liability | — | — | $0 | $624k | $188k | — | — | — | — | |
| Total liabilities | $34.9m | $50.3m | $73.8m | $2.3b | $6.4b | $6.9b | $6.4b | $6.8b | $8.0b | |
| Preferred stock, $0.002 par value; 8.0 shares authorized; no shares issued and outstanding | — | — | — | 0 | 0 | 0 | 0 | 0 | 0 | |
| Common stock, $0.002 par value; 1.3 billion shares authorized; 847.3 and 866.0 shares issued and outstanding as of January 31, 2026 and February 1, 2025, respectively | 2.3m | 2.7m | 4.6m | 1.4m | 1.7m | 1.7m | 1.7m | 1.7m | 1.7m | |
| Additional paid-in capital | $207.5m | $250.6m | $282.5m | $6.3b | $14.2b | $14.5b | $14.8b | $14.5b | $13.0b | |
| Accumulated other comprehensive income | $1.5m | $2.9m | $2.8m | $2.0m | $11.3m | $0 | $1.1m | $400k | $0 | |
| Retained earnings (Accumulated deficit) | ($139.4m) | ($164.8m) | ($184.0m) | $2.1b | $1.5b | $1.1b | ($16.7m) | ($1.1b) | $1.4b |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.