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Jan 28, 2023
Credo Q3 2023 Earnings Report
Reported financial results for the third quarter of fiscal year 2023, ended January 28, 2023.
Key Takeaways
Credo Technology Group reported revenue of $54.3 million, a 6% increase quarter over quarter. GAAP gross margin was 58.9% and non-GAAP gross margin was 59.3%. GAAP net income was $2.8 million, with a GAAP diluted net income per share of $0.02. The company's cash and short-term investment balance ended at $233.0 million.
Revenue of $54.3 million, grew by 6% quarter over quarter
GAAP gross margin of 58.9% and non-GAAP gross margin of 59.3%
GAAP net income of $2.8 million and non-GAAP net income of $7.5 million
GAAP diluted net income per share of $0.02 and non-GAAP diluted net income per share of $0.05
Revenue by Geographic Location
Forward Guidance
Revenue is expected to be between $30.0 million and $32.0 million. GAAP gross margin is expected to be between 55.8%-57.8% and non-GAAP gross margin is expected to be between 56.0%-58.0%. GAAP operating expenses are expected to be between $32.8 million and $34.8 million; and non-GAAP operating expenses are expected to be between $26.0 million and $28.0 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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