← Marvell Technology, Inc.
| Annual Trend | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | FY 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Net revenue | $60.1m | $84.7m | $102.4m | $2.7b | $3.0b | $4.5b | $5.9b | $5.5b | $5.8b | $8.2b | |
| Revenue | $60.1m | $84.7m | $102.4m | $65.8m | $47.9m | $83.8m | $67.1m | $5.5b | $5.8b | $8.2b | |
| Cost of goods sold | $44.1m | $80.6m | $72.5m | $40.8m | $29.7m | $52.0m | $41.6m | $3.2b | $3.4b | $4.0b | |
| Cost of revenue | $44.1m | $80.6m | $72.5m | $46.2m | $40.7m | $64.4m | $48.2m | $48.0m | $51.0m | — | |
| Gross profit | $16.0m | $4.2m | $29.9m | $1.4b | $1.5b | $2.1b | $3.0b | $2.3b | $2.4b | $4.2b | |
| Research and development | $7.6m | $3.2m | $3.1m | $1.1b | $1.1b | $1.4b | $1.8b | $1.9b | $2.0b | $2.1b | |
| Selling, general and administrative | — | — | — | $464.6m | $467.2m | $955.2m | $843.6m | $834.0m | $798.2m | $767.1m | |
| Operating expenses | $46.6m | $45.1m | $54.1m | $39.8m | $68.8m | $101.7m | $88.2m | $92.5m | $72.6m | — | |
| Total operating expenses | — | — | — | $1.6b | $1.7b | $2.4b | $2.7b | $2.9b | $3.1b | $2.9b | |
| Operating income (loss) | ($30.6m) | ($40.9m) | ($24.2m) | ($243.4m) | ($258.4m) | ($347.7m) | $238.0m | ($567.7m) | ($720.3m) | $1.3b | |
| Comprehensive loss | |||||||||||
| Restructuring related charges, net | — | — | — | $55.3m | $170.8m | $32.3m | $21.6m | $131.1m | $353.9m | $15.5m | |
| Interest income and other, net | $36k | $66k | $163k | $1.1b | $2.9m | $2.8m | $12.4m | $11.9m | $15.0m | $1.9b | |
| Interest and other income (loss), net | ($284k) | ($4.4m) | ($1.1m) | $1.0b | ($63.8m) | ($135.8m) | ($152.9m) | ($191.0m) | ($174.4m) | $1.7b | |
| Income (loss) before income taxes | — | — | — | $798.4m | ($322.2m) | ($483.5m) | $85.1m | ($758.7m) | ($894.7m) | $3.0b | |
| Provision (benefit) for income taxes | $308k | $16k | $398k | ($786.0m) | ($44.9m) | ($62.5m) | $248.6m | $174.7m | ($9.7m) | $376.5m | |
| Basic (in shares) | — | — | — | $664.7m | $668.8m | $796.9m | $851.4m | $861.3m | $865.5m | $861.0m | |
| Diluted (in shares) | — | — | — | $676.1m | $668.8m | $796.9m | $851.4m | $861.3m | $865.5m | $869.7m | |
| Allowance for (net recovery of) credit losses | $1.8m | ($841k) | $611k | $2.2m | $8.2m | ($659k) | ($9.0m) | $4.1m | ($2.9m) | — | |
| Impairment loss of property and equipment and other long-lived assets | — | — | $0 | $0 | $768k | $0 | $1.0m | $0 | $0 | — | |
| Subsidy income | $133k | $372k | $1.1m | $1.2m | $356k | $12k | $325k | $131k | $86k | — | |
| Interest income | $74k | $68k | $40k | $55k | $919k | $5.4m | $13.6m | $22.9m | $13.4m | — | |
| Loss (gain) in fair value changes of warrants liability | — | — | $0 | $0 | $35.4m | $174.5m | $6.1m | ($934k) | $6k | — | |
| Foreign exchange transaction gain (loss) | $22k | ($4k) | $57k | ($18k) | ($147k) | ($118k) | $242k | ($882k) | $953k | — | |
| Impairment loss on goodwill and intangible assets | — | — | — | — | $0 | ($2.3m) | ($10.0m) | $0 | $0 | — | |
| Loss before income tax | ($30.9m) | ($45.4m) | ($25.4m) | ($19.8m) | ($26.4m) | $93.7m | ($61.5m) | ($51.4m) | ($43.7m) | — | |
| Net loss | ($31.2m) | ($45.4m) | ($25.8m) | ($20.1m) | ($25.9m) | $94.3m | ($61.5m) | ($51.4m) | ($43.7m) | — | |
| Less: Net loss attributable to non-controlling interests | $241k | ($1.3m) | ($427k) | ($876k) | ($3.0m) | ($1.3m) | ($2.3m) | ($1.6m) | ($1.1m) | — | |
| Foreign currency translation adjustment | ($30k) | $1.8m | $1.4m | ($84k) | ($851k) | $9.3m | $23.8m | $2.0m | ($3.6m) | — | |
| Less: Comprehensive loss attributable to non- controlling interests | $241k | ($1.3m) | ($427k) | ($876k) | ($3.0m) | ($1.3m) | ($2.3m) | ($1.6m) | ($1.1m) | — | |
| Comprehensive loss attributable to Recon Technology, Ltd | ($31.5m) | ($42.3m) | ($24.0m) | ($19.3m) | ($23.7m) | $104.9m | ($35.3m) | ($47.9m) | ($46.2m) | — | |
| Income from investment in unconsolidated entity | $0 | $0 | ($960k) | $463k | ($267k) | $15k | $0 | $0 | — | — | |
| Comprehensive income (loss) | ($31.2m) | ($43.6m) | ($24.4m) | ($20.2m) | ($26.7m) | $103.6m | ($37.7m) | ($49.4m) | — | — | |
| Remeasurement gain of previously held equity interests in connection with step acquisition | — | — | $0 | $0 | $979k | $0 | $0 | — | — | — | |
| Impairment loss on goodwill | — | — | — | $0 | $0 | ($2.3m) | — | — | — | — | |
| Loss per common share - basic and diluted | ($5) | ($19) | ($6) | ($4) | ($2) | ($1) | ($0) | ($1) | ($1) | $3 | |
| Impairment loss of investment in unconsolidated entity | $0 | $4.0m | $0 | — | — | — | — | — | — | — | |
| Net income (loss) | ($31.4m) | ($44.1m) | ($25.4m) | $1.6b | ($277.3m) | ($421.0m) | ($163.5m) | ($933.4m) | ($885.0m) | $2.7b | |
| Net income (loss) per share — basic (in dollars per share) | — | — | — | $2 | ($0) | ($1) | ($0) | ($1) | ($1) | $3 | |
| Net income (loss) per share — diluted (in dollars per share) | ($5) | ($19) | ($6) | $2 | ($0) | ($1) | ($0) | ($1) | ($1) | $3 | |
| Weighted - average shares -basic and diluted | $6.4m | $2.3m | $3.9m | $4.6m | $12.7m | — | — | — | — | — | |
| Interest expense | ($549k) | ($898k) | ($1.6m) | ($85.6m) | ($69.3m) | ($139.3m) | ($170.6m) | ($211.7m) | ($189.4m) | ($202.6m) | |
| Selling and distribution expenses | $4.5m | $8.0m | $9.1m | $4.4m | $8.0m | $10.2m | $10.6m | $10.4m | $9.3m | — | |
| General and administrative expenses | $32.8m | $34.7m | $41.3m | $26.1m | $45.9m | $83.3m | $76.8m | $63.8m | $49.6m | — |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.