Credo Technology Group Holding Ltd · Q3 2024 earnings

Briefing

Reported financial results for the third quarter of fiscal year 2024, ended January 27, 2024.

Credo Technology Group Holding Ltd reported revenue of $53.1 million, which grew by 20% quarter over quarter. GAAP gross margin was 61.4% and non-GAAP gross margin was 62.2%. GAAP net income was $0.4 million and non-GAAP net income was $6.3 million. GAAP diluted net income per share was $0.00 and non-GAAP diluted net income per share was $0.04.

• Revenue of $53.1 million, grew by 20% quarter over quarter
• GAAP gross margin of 61.4% and non-GAAP gross margin of 62.2%
• GAAP operating expenses of $38.5 million and non-GAAP operating expenses of $30.6 million
• GAAP net income of $0.4 million and non-GAAP net income of $6.3 million

Headline financials

Revenue & EPS history

Revenue is expected to be between $59.0 million and $62.0 million. GAAP gross margin is expected to be between 63.2% and 65.2%, and non-GAAP gross margin is expected to be between 64.0% and 66.0%. GAAP operating expenses are expected to be between $44.0 million and $46.0 million, and non-GAAP operating expenses are expected to be between $33.0 million and $35.0 million.