Keysight co-developed the industry’s first working 1.6 terabit Ethernet test and measurement system in a testbed with Credo Semiconductor. Running at full line rate, it can transmit and process more than a billion packets per second over a 2-meter active electrical cable – an unprecedented rate of speed. (Photo: Business Wire)Keysight co-developed the industry’s first working 1.6 terabit Ethernet test and measurement system in a testbed with Credo Semiconductor. Running at full line rate, it can transmit an ...

Jacob Wackerhausen/iStock via Getty Images Credo Technology (NASDAQ:CRDO) is a company providing high-speed connectivity solutions, such as integrated circuits / ICs, Active Electrical Cables / AECs, and Serializer and Deserializaer / SerDes Chiplets. Share performance has been relatively strong since going public in 2022 at the price of $11 per share. Despite the demand shock from a major customer in 2023 that caused the stock to reach an all-time low of $8, CRDO has had a strong rebound since. Over the pa ...

业绩简评 公司 AEC 产品持续导入。公司 AEC 产品已经导入微软、亚马逊， 目前亚马逊虽然处于 AEC 早期部署阶段，但已经在公司 FY24Q3 营 收占比达到 19%。根据公司 FY24Q3 公开业绩会，目前公司 AEC 已 经完成在另外一家北美头部云厂商的认证，并且公司 AEC 产品目 前在另外两个北美头部大型客户处于早期开发阶段。公司认为随 着新客户导入、亚马逊放量以及 AI 以太网组网增加，FY25H2 有望 看到 AEC 营收增长的拐点。 公司光 DSP 以及 SerDes chiplet 持续导入客户。目前公司除了提 供传统光模块 DSP 以外，也提供采用简化版的 DSP 的 LRO 光模块 方案，相比 LPO 方案具备更高信号完整性，且相比传统光模块 DSP 功耗减少。公司 800G LRO 方案、1.6T DSP 有望与合作伙伴在今年 OFC 进行展示。公司 SerDes chiplet 除了在特斯拉 Dojo 芯片使用 以外，目前也已经在英特尔出货。 公司毛利率有望继续改善。FY24Q3 公司 IP 营收占比仅 2%，前三 季度营收占比 9%，公司预计全年 IP 营收占比达到 10~15 ...

SAN JOSE, Calif., March 04, 2024 (GLOBE NEWSWIRE) -- Credo Technology Group Holding Ltd (Credo) (NASDAQ: CRDO), an innovator in providing secure, high-speed connectivity solutions that deliver improved energy efficiency as data rates and corresponding bandwidth requirements increase throughout the data infrastructure market, today announced that Bill Brennan, President and CEO, and Dan Fleming, CFO, are scheduled to present at the following upcoming investor conference. Conference: 36th Annual Roth Conferen ...

Financial Data and Key Metrics Changes - The company reported Q3 revenue of $53.1 million, which is up 20% sequentially but down 2% year-over-year [11] - Non-GAAP gross margin for the product business was 62.2%, an increase of 235 basis points sequentially [82] - Non-GAAP net income for Q3 was $6.3 million, compared to $1.2 million in the previous quarter [13] - The company expects Q4 revenue to be between $59 million and $62 million, representing a 14% sequential increase at the midpoint [14] Business Line Data and Key Metrics Changes - The IP business generated $1.3 million in Q3, down 83% sequentially and down 90% year-over-year [11] - The product business generated $51.8 million in revenue in Q3, up 41% sequentially and up 24% year-over-year [82] - Non-GAAP operating income was $2.4 million in Q3, compared to a non-GAAP operating loss of $0.7 million last quarter [83] Market Data and Key Metrics Changes - The company anticipates that U.S. hyperscalers will continue to dominate AEC demand in the foreseeable future [70] - The optical DSP market is gaining traction, with production shipments to multiple global hyperscale end customers [77] - The company is engaged with five U.S. hyperscalers and other global hyperscalers for various applications [70] Company Strategy and Development Direction - The company is focused on innovation in its SerDes technology, which is critical for high-speed connectivity solutions [74] - There is an emphasis on developing AEC solutions for both front-end and back-end networks, with expectations for significant revenue growth [76] - The company is also working on 400-gig and 800-gig AEC solutions, which are expected to yield significant future revenue [76] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the increasing market demand for high-speed connectivity driven by AI applications [69] - The company expects an inflection point in the second half of fiscal '25, indicating a positive outlook for future revenue growth [16] - Management noted that the visibility into customer projects has improved, leading to greater confidence in revenue forecasts [100] Other Important Information - The company ended the quarter with cash and equivalents of $409.1 million, an increase of $168.6 million from the previous quarter [112] - Total non-GAAP operating expenses in Q3 were $30.6 million, up 13% sequentially and up 19% year-over-year [111] - The company is well-capitalized to continue investing in growth opportunities while maintaining a substantial cash buffer [112] Q&A Session Summary Question: What is the outlook for the AEC market? - Management indicated that the AEC market is heating up, with increasing interest from customers and expectations for broader adoption in the future [47][62] Question: How does the company view the competitive landscape in the optical DSP market? - Management noted that they are agnostic to customer preferences and are focused on delivering the right connectivity solutions for each hyperscale customer [28] Question: Can you provide insights on the chiplet business? - The chiplet business is expanding, with multiple customers engaging for designs, although it is still dominated by a single customer at this point [92] Question: What are the expectations for revenue visibility moving forward? - Management expressed increased confidence in revenue visibility due to a diversified customer base and product offerings [100][150]

Credo Technology Group Holding Ltd. (CRDO) came out with quarterly earnings of $0.04 per share, beating the Zacks Consensus Estimate of $0.03 per share. This compares to earnings of $0.05 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 33.33%. A quarter ago, it was expected that this company would post earnings of $0.01 per share when it actually produced earnings of $0.01, delivering no surprise.Over the last four quarters, t ...

Credo Technology Group Holding Ltd Notes to Unaudited Condensed Consolidated Financial Statements | --- | --- | --- | --- | --- | |---------------------------------------------------------|-------|---------------------------------|-------|-----------------------------| | Computer equipment and software | $ | January 27, 2024 \n18,217 | $ | April 29, 2023 \n13,942 | | Laboratory equipment | | 17,720 | | 15,577 | | Production equipment | | 24,718 | | 19,783 | | Leasehold improvements | | 2,009 | | 2,005 | | O ...

Financial Performance - Revenue for the third quarter of fiscal year 2024 was $53.1 million, representing a 20% increase quarter over quarter[16] - GAAP gross margin was 61.4%, while non-GAAP gross margin was 62.2%[16] - GAAP operating expenses totaled $38.5 million, with non-GAAP operating expenses at $30.6 million[16] - GAAP net income was $0.4 million, and non-GAAP net income was $6.3 million[16] - GAAP diluted net income per share was $0.00, and non-GAAP diluted net income per share was $0.04[16] - Total revenue for the three months ended January 27, 2024, was $53.058 million, an increase from $44.035 million for the same period last year, representing a growth of 20.0%[25] - Product sales reached $39.975 million, up from $34.247 million year-over-year, indicating a growth of 16.0%[25] - Gross profit for the quarter was $32.558 million, compared to $26.117 million in the prior year, reflecting a gross margin improvement[25] - Operating loss for the quarter was $(5.911) million, an improvement from $(8.875) million in the same quarter last year[25] - Net income for the quarter was $428 thousand, a significant recovery from a net loss of $(6.623) million in the prior year[25] Future Guidance - Revenue guidance for the next quarter is projected between $59.0 million and $62.0 million[16] - Expected GAAP gross margin for the next quarter is between 63.2% and 65.2%, while non-GAAP gross margin is expected to be between 64.0% and 66.0%[16] - Anticipated GAAP operating expenses for the next quarter are between $44.0 million and $46.0 million, with non-GAAP operating expenses expected to be between $33.0 million and $35.0 million[16] Investment and Growth - The company attributes growth to the increasing demand for high-speed and energy-efficient connectivity solutions in the data infrastructure market[16] - Research and development expenses increased to $24.236 million from $21.736 million year-over-year, highlighting continued investment in innovation[25] - Selling, general and administrative expenses rose to $14.233 million, compared to $13.256 million in the same period last year[25] - The company reported a total operating expense of $38.469 million, up from $34.992 million year-over-year[25] - Credo's product families include integrated circuits, Active Electrical Cables, and SerDes Chiplets, optimized for high-speed connectivity solutions[23] - The company anticipates continued growth in the optical and electrical Ethernet applications market, targeting emerging 1.6T port markets[23]

SAN JOSE, Calif., Feb. 12, 2024 (GLOBE NEWSWIRE) -- Credo Technology Group Holding Ltd ("Credo") (NASDAQ:CRDO), an innovator in providing secure, high-speed connectivity solutions that deliver improved power efficiency, today announced it will hold a conference call on Tuesday, February 27, 2024, at 2:00 p.m. Pacific Time to discuss its financial results for the fiscal third quarter ended January 27, 2024. The news release announcing the third quarter fiscal year 2024 financial results will be disseminated ...

SAN JOSE, Calif.--(BUSINESS WIRE)--Credo Technology Group Holding Ltd (“Credo”) (Nasdaq: CRDO), an innovator in providing secure, high-speed connectivity solutions that deliver improved power efficiency as data rates and corresponding bandwidth requirements increase throughout the data infrastructure market, will be exhibiting in booth 316 at the Chiplet Summit Conference and Exhibition taking place February 6-8, at the Santa Clara Convention Center. The summit is an excellent platform for Credo representa ...