Credo Technology Group Holding Ltd · Q3 2023 earnings

Briefing

Reported financial results for the third quarter of fiscal year 2023, ended January 28, 2023.

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

Headline financials

Revenue & EPS history

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.