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Jul 29, 2023
Credo Q1 2024 Earnings Report
Reported financial results for the first quarter of fiscal year 2024, ended July 29, 2023.
Key Takeaways
Credo Technology Group reported revenue of $35.1 million, an increase of 9% compared to the prior quarter. The company's GAAP gross margin was 59.2% and non-GAAP gross margin was 59.8%. GAAP net loss was $11.7 million and non-GAAP net loss was $4.7 million.
Revenue of $35.1 million, grew by 9% quarter over quarter
GAAP gross margin of 59.2% and non-GAAP gross margin of 59.8%
GAAP operating expenses of $35.2 million and non-GAAP operating expenses of $27.4 million
GAAP diluted net loss per share of $0.08 and non-GAAP diluted net loss per share of $0.03
Revenue by Geographic Location
Forward Guidance
Credo expects revenue to be between $42.0 million and $44.0 million for the second quarter of fiscal year 2024. GAAP gross margin is expected to be between 57.8% and 59.8%, and non-GAAP gross margin is expected to be between 58.0% and 60.0%.
Positive Outlook
- Revenue is expected to be between $42.0 million and $44.0 million
- GAAP gross margin is expected to be between 57.8% and 59.8%
- Non-GAAP gross margin is expected to be between 58.0% and 60.0%
- GAAP operating expenses are expected to be between $35.0 million and $37.0 million
- Non-GAAP operating expenses are expected to be between $27.0 million and $29.0 million
Historical Earnings Impact
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Avg. Return Before/After Earnings
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