Credo Q1 2024 Earnings Report
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
Credo
Credo
Credo Revenue by Segment
Credo 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
Revenue & Expenses
Visualization of income flow from segment revenue to net income