Credo Q1 2023 Earnings Report
Key Takeaways
Credo Technology Group reported revenue of $46.5 million, a 24% increase quarter over quarter. GAAP gross margin was 59.5% and non-GAAP gross margin was 60.5%. GAAP net loss was $0.1 million, while non-GAAP net income was $5.4 million.
Revenue of $46.5 million, grew by 24% quarter over quarter
GAAP gross margin of 59.5% and non-GAAP gross margin of 60.5%
GAAP net loss of $0.1 million and non-GAAP net income of $5.4 million
Ending Cash Balance of $243.8 million
Credo
Credo
Credo Revenue by Segment
Credo Revenue by Geographic Location
Forward Guidance
Revenue is expected to be between $48.5 million to $52.5 million, up 91% year over year at the midpoint. GAAP gross margin is expected to be between 58.5%-60.5% and non-GAAP gross margin is expected to be between 59.0%-61.0%. GAAP operating expenses are expected to be between $30.5 million to $32.5 million and non-GAAP operating expenses are expected to be between $23.5 million to $25.5 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income