Credo Technology Group Holding Ltd · Q1 2025 earnings

Briefing

Reported revenue growth driven by AI infrastructure deployments.

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.

Headline financials

Revenue & EPS history

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.