Credo Technology Group Holding Ltd. ( (CRDO) ) has released its Q2 earnings. Here is a breakdown of the information Credo Technology Group Holding Ltd. presented to its investors.
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Credo Technology Group Holding Ltd. is a company specializing in secure, high-speed connectivity solutions aimed at improving energy efficiency and handling increasing data rates within the data infrastructure market. The company’s products are designed to alleviate system bandwidth bottlenecks and enhance power, security, and reliability for optical and electrical Ethernet applications.
In its latest earnings report, Credo Technology Group Holding Ltd. announced impressive financial results for the second quarter of fiscal year 2025, highlighting a significant revenue increase to $72 million, which represents a 20.6% rise quarter over quarter and a 63.6% increase year over year. This growth marks a record for the company, driven by heightened demand in AI deployments and strengthened customer relationships.
Key financial metrics reveal a GAAP gross margin of 63.2% and a non-GAAP gross margin of 63.6%. The company reported a GAAP net loss of $4.2 million, but a non-GAAP net income of $12.3 million, translating to a non-GAAP diluted net income per share of $0.07. Operating expenses were also reported, with GAAP figures at $53.9 million and non-GAAP at $37.6 million.
Looking ahead, Credo Technology Group anticipates continued growth, projecting third-quarter revenue to range between $115 million and $125 million. The company expects GAAP gross margins to be between 60.6% and 62.6% and non-GAAP gross margins between 61.0% and 63.0%. These projections reflect management’s optimism about the company’s long-term growth potential as they capitalize on expanding technological needs and strategic customer engagements.
