Credo Technology Group Holding Ltd · Q4 2024 earnings

Briefing

Credo reported an 89.4% year-over-year revenue increase, reaching $60.8 million, with GAAP gross margin at 65.8% and non-GAAP gross margin at 66.1%.

Credo Technology Group Holding Ltd reported strong Q4 results, driven by AI deployments, with revenue reaching $60.8 million, an 89.4% increase year-over-year. The company achieved a GAAP gross margin of 65.8% and a non-GAAP gross margin of 66.1%. GAAP net loss was $10.5 million, while non-GAAP net income was $11.8 million.

• Revenue grew by 89.4% year over year, reaching $60.8 million.
• GAAP gross margin was 65.8%, and non-GAAP gross margin was 66.1%.
• GAAP net loss was $10.5 million, while non-GAAP net income was $11.8 million.
• Cash and short-term investment balance ended at $410.0 million.

Headline financials

Revenue & EPS history

Credo expects revenue between $58.0 million and $61.0 million for Q1 2025. GAAP gross margin is expected to be between 62.3% and 64.3%, while non-GAAP gross margin is expected to be between 63.0% and 65.0%. GAAP operating expenses are projected to be between $49.4 million and $51.4 million, and non-GAAP operating expenses are expected to be between $35.0 million and $37.0 million.