Credo Technology Group Holding Limited

Latest Results (07.08.2024):

Revenue Growth

Credo Technology Group Holding Limited reported a significant revenue increase for the fourth quarter of fiscal year 2024, ending April 27, 2024. The company achieved a revenue of $60.8 million, marking an 89.4% growth year over year. This substantial increase highlights the company's strong market performance and customer demand.

Gross Margin

For the fourth quarter of fiscal year 2024, Credo Technology Group Holding Limited reported a GAAP gross margin of 65.8% and a non-GAAP gross margin of 66.1%. These figures reflect the company's efficiency in managing production costs and maintaining profitability despite the competitive market environment.

Net Income and Loss

Credo Technology Group Holding Limited experienced a GAAP net loss of $10.5 million for the fourth quarter of fiscal year 2024. However, on a non-GAAP basis, the company reported a net income of $11.8 million. This discrepancy underscores the impact of non-recurring expenses and adjustments on the company's financial performance.

Operating Expenses

In the fourth quarter of fiscal year 2024, Credo Technology Group Holding Limited's GAAP operating expenses were $47.8 million, while non-GAAP operating expenses were significantly lower at $32.7 million. This reduction in non-GAAP operating expenses indicates effective cost management and operational efficiency.

Financial Outlook

Looking ahead to the first quarter of fiscal year 2025, Credo Technology Group Holding Limited expects revenue to be between $58.0 million and $61.0 million. The company also anticipates a GAAP gross margin between 62.3% and 64.3%, and a non-GAAP gross margin between 63.0% and 65.0%, reflecting continued strong financial performance and market demand.