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Aug 03, 2024
Credo Q1 2025 Earnings Report
Reported revenue growth driven by AI infrastructure deployments.
Key Takeaways
Credo Technology Group reported a strong first quarter for fiscal year 2025, with revenue reaching $59.7 million, a 70% increase year-over-year. The company's growth was primarily driven by record product revenues of $57.3 million, fueled by customer AI infrastructure deployments. GAAP net loss was $(9.5) million, while non-GAAP net income was $7.0 million.
Revenue reached $59.7 million, a 70% increase year-over-year.
Product revenues hit a record $57.3 million, up 30% from the previous quarter.
GAAP gross margin was 62.4%, and non-GAAP gross margin was 62.9%.
GAAP net loss was $(9.5) million, while non-GAAP net income was $7.0 million.
Credo
Credo
Credo Revenue by Segment
Credo Revenue by Geographic Location
Revenue by Segment
Product Sales Revenue
CapyFin.comProduct Engineering Revenue
CapyFin.comIP License Revenue
CapyFin.comRevenue by Geographic Location
Total Revenue
CapyFin.com Forward Guidance
Credo expects revenue to be between $65.0 million and $68.0 million for the second quarter of fiscal year 2025. GAAP gross margin is expected to be between 61.3% and 63.3%, and non-GAAP gross margin is expected to be between 62.0% and 64.0%. GAAP operating expenses are expected to be between $51.3 million and $53.3 million, and non-GAAP operating expenses are expected to be between $36.0 million and $38.0 million.
Positive Outlook
- Revenue is expected to be between $65.0 million and $68.0 million
- GAAP gross margin is expected to be between 61.3% and 63.3%
- Non-GAAP gross margin is expected to be between 62.0% and 64.0%
- GAAP operating expenses are expected to be between $51.3 million and $53.3 million
- Non-GAAP operating expenses are expected to be between $36.0 million and $38.0 million
Revenue & Expenses
Visualization of income flow from segment revenue to net income