NASDAQ$CRDO
Credo Technology Group Holding Ltd · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Reported financial results for the first quarter of fiscal year 2024, ended July 29, 2023.
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
Headline financials
Revenue & EPS history
Credo · Revenue · Quarterly
$35.1M
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%.
Tailwinds
- 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
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 17 quarterly earnings reports · overlaid with Q1 2024
+3.8%
Avg return
Earnings day
+1.5%
Avg return
5 days after
+0.1%
Avg return
30 days after
43%
9 / 21 earnings
Positive
+44.4%
Q2 2025
Best reaction
-15.7%
Q1 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q3 2026 | -2.4% | -3.8% | -11.2% | |
| Q2 2026 | +8.7% | +2.9% | -15.9% | |
| Q1 2026 | +7.3% | +19.4% | +15.3% | |
| Q4 2025 | +14.7% | +16.5% | +49.4% | |
| Q3 2025 | -14.0% | -27.4% | -38.7% | |
| Q2 2025 | +44.4% | +51.6% | +37.3% | |
| Q1 2025 | -15.7% | -23.3% | +3.0% | |
| Q4 2024 | +23.9% | +21.5% | +54.1% | |
| Q3 2024 | -0.6% | +0.7% | -5.0% | |
| Q2 2024 | -3.3% | +3.6% | +5.1% | |
| Q1 2024 | -2.6% | -1.5% | -7.5% | |
| Q4 2023 | +20.9% | +16.8% | +26.8% | |
| Q3 2023 | -3.3% | -4.3% | -11.2% | |
| Q2 2023 | +4.4% | +6.9% | -4.2% | |
| Q1 2023 | -8.5% | -9.0% | -22.4% | |
| Q2 2022 | -7.2% | -12.4% | -12.8% | |
| Q4 2022 | +26.5% | +24.5% | +10.4% | |
| Q3 2021 | -5.7% | -13.0% | -18.2% | |
| Q1 2022 | -5.7% | -13.0% | -18.2% | |
| Q4 2021 | -5.7% | -13.0% | -18.2% | |
| Q3 2022 | +2.7% | -13.1% | -14.6% | |
| Q2 2021 | — | — | — | |
| Q1 2021 | — | — | — |
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