NASDAQ$CRDO
Credo Technology Group Holding Ltd · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
Reported financial results for the second quarter of fiscal year 2023, ended October 29, 2022.
Credo Technology Group Holding Ltd reported record revenue of $51.4 million, an increase of 94% year over year and 11% compared to the prior quarter. The company remains optimistic about its future prospects and expects to achieve at least $200 million in revenue for the full fiscal year.
- Revenue of $51.4 million, grew by 11% quarter over quarter
- GAAP gross margin of 54.4% and non-GAAP gross margin of 54.9%
- GAAP net loss of $3.4 million and non-GAAP net income of $2.4 million
- Ending cash and short-term investment balance of $240.5 million
Headline financials
Revenue & EPS history
Credo · Revenue · Quarterly
$51.4M
Forward guidance
Revenue is expected to be between $54.0 million to $56.0 million, up 73% year over year at the midpoint. GAAP gross margin is expected to be between 58.7%-60.7% and non-GAAP gross margin is expected to be between 59.0%-61.0%. GAAP operating expenses are expected to be between $30.2 million to $32.2 million and non-GAAP operating expenses are expected to be between $25.0 million to $27.0 million
Tailwinds
- Revenue is expected to be between $54.0 million to $56.0 million
- Revenue is expected to be up 73% year over year at the midpoint
- GAAP gross margin is expected to be between 58.7%-60.7%
- Non-GAAP gross margin is expected to be between 59.0%-61.0%
- Non-GAAP operating expenses are expected to be between $25.0 million to $27.0 million
Headwinds
- GAAP operating expenses are expected to be between $30.2 million to $32.2 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 Q2 2023
+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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