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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.
Revenue by Segment
Revenue by Geographic Location
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
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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