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Credo Technology Group Holding Ltd (CRDO)
NASDAQ:CRDO
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Earnings Data
Report Date
Feb 26, 2025TBA Not Confirmed
Period Ending
2025 (Q3)Consensus EPS Forecast
$0.18Last Year’s EPS
$0.04Same Quarter Last Year
Strong Buy
Based on 10 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Dec 02, 2024
|% Change Since: 46.09%
|Next Earnings Date:Feb 26, 2025
Earnings Call Sentiment|Positive
The earnings call highlighted significant revenue growth, customer diversification, and strong guidance for the next quarter, showcasing a positive trajectory for Credo. However, challenges such as a decrease in cash reserves, increased inventory levels, and significant CapEx impacting free cash flow were noted. Despite these lowlights, the overall sentiment is positive due to the impressive revenue growth and future outlook.Company Guidance
During the second quarter of fiscal year 2025, Credo Technology Group (CRDO) reported impressive financial performance with revenue reaching $72 million, marking a 21% sequential increase and a 64% year-over-year growth. The company's non-GAAP gross margin stood at 63.6%, reflecting its strong market position and operational efficiency. Credo's growth was driven by record revenues across its main product lines, including Active Electrical Cables (AECs), optical DSPs, and line card retimers. The company anticipates continued momentum, projecting revenue between $115 million and $125 million for the third quarter of fiscal year 2025, representing a sequential growth of 67% at the midpoint. Credo's strategic focus on innovative Ethernet connectivity solutions and expanding customer relationships positions it for sustained growth and profitability, with expectations of year-over-year revenue growth of 100% or more from fiscal year 2024 to fiscal year 2025.Record Revenue Growth
Credo generated revenue of $72 million in Q2, up 21% sequentially and 64% year-over-year. The company achieved record revenue across its three main product lines.
Non-GAAP Gross Margin Achievement
Q2 non-GAAP gross margin was 63.6%, near the high end of the guidance range and up 73 basis points sequentially.
Strong Revenue Guidance for Q3
Credo expects Q3 revenue to be between $115 million and $125 million, up 67% sequentially at the midpoint.
Customer Diversification
Credo had seven end customers at greater than 5% of revenue, showcasing diversification in its customer base.
Impressive Operating Income Growth
Non-GAAP operating income was $8.3 million in Q2, compared to $2.2 million in Q1, with a non-GAAP operating margin increase of 780 basis points sequentially.
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Credo Technology Group Holding Ltd (CRDO) Earnings, Revenues Date & History
CRDO Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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CRDO Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Dec 02, 2024 | $47.80 | $70.69 | +47.89% |
| Sep 04, 2024 | $31.30 | $26.65 | -14.86% |
| May 29, 2024 | $20.22 | $25.69 | +27.05% |
| Feb 27, 2024 | $22.02 | $22.17 | +0.68% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Credo Technology Group Holding Ltd (CRDO) report earnings?
Credo Technology Group Holding Ltd (CRDO) is schdueled to report earning on Feb 26, 2025, TBA Not Confirmed.
What is Credo Technology Group Holding Ltd (CRDO) earnings time?
Credo Technology Group Holding Ltd (CRDO) earnings time is at Feb 26, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is CRDO EPS forecast?
CRDO EPS forecast for the fiscal quarter 2025 (Q3) is $0.18.
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