Credo Technology Group Holding Ltd. (CRDO) came out with quarterly earnings of $0.04 per share, in line with the Zacks Consensus Estimate. This compares to loss of $0.03 per share a year ago. These figures are adjusted for non-recurring items. A quarter ago, it was expected that this company would post earnings of $0.05 per share when it actually produced earnings of $0.07, delivering a surprise of 40%. Over the last four quarters, the company has surpassed consensus EPS estimates two times. Credo Technolog ...

Exhibit 99.1 Credo Technology Group Holding Ltd Reports First Quarter of Fiscal Year 2025 Financial Results San Jose, Calif. (September 4, 2024) - Credo Technology Group Holding Ltd (Nasdaq: CRDO), an innovator in providing secure, high-speed connectivity solutions that deliver improved energy efficiency as data rates and corresponding bandwidth requirements increase through the data infrastructure market, today reported financial results for the first quarter of fiscal year 2025, ended August 3, 2024. Firs ...

SAN JOSE, Calif., Aug. 21, 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: Goldman Sachs Communacopia ...

Erik Isakson Credo Technology (NASDAQ:CRDO) is a leading player in the high-performance connectivity market, with rapid business growth driven by AI and data center expansions. I anticipate that Credo will significantly grow its comprehensive Ethernet connectivity solutions in the near future., doubling its AI related revenue by FY25. I am initiating with a 'Buy' rating with a one-year price target of $35 per share. Leadership in High-Speed Connectivity Market Credo Technology is a pure play in the connecti ...

Revenue and Gross Margin - Revenue for fiscal 2024 increased by $8.8 million primarily due to increases in product engineering services revenue of $9.1 million[534] - Product sales revenue growth was driven by Chiplet and Optical products, offset by a modest decline in AEC products, resulting in a more diverse product mix in fiscal 2024[535] - Gross margin increased by 4.2 percentage points in fiscal 2024, driven by higher product engineering services revenue and improved product sales gross margin from 46.9% to 51.4%[536][537] - Total cost of revenue decreased by 5.7% to $73.5 million in fiscal 2024 compared to $78.0 million in fiscal 2023[565] - Gross profit increased by 12.5% to $119.4 million in fiscal 2024, with gross margin improving to 61.9% from 57.7% in fiscal 2023[565] Expenses - Research and development expenses increased by $18.8 million in fiscal 2024, primarily due to $7.0 million in personnel costs and $8.0 million in share-based compensation[538] - Selling, general and administrative expenses increased by $11.9 million in fiscal 2024, driven by $2.6 million in personnel costs and $7.0 million in share-based compensation[539] - Research and development expenses increased by 24.4% to $95.5 million in fiscal 2024, representing 49.5% of total revenue[565] - Impairment charges decreased by 68.2% to $765,000 in fiscal 2024, representing 0.4% of total revenue[567] - Provision for income taxes increased by $7.0 million in fiscal 2024 due to a full valuation allowance for U.S. deferred tax assets[568] Cash Flow and Financing - Net cash used in investing activities was $130.9 million in fiscal 2023, primarily due to $21.7 million in property and equipment purchases and $159.2 million in certificates of deposit investments[544] - Net cash provided by financing activities was $4.9 million in fiscal 2023, mainly from $5.5 million in proceeds from employee share options and share purchase plans[546] - Net cash used in operating activities was $24.6 million in fiscal 2023, driven by a $16.5 million net loss and $50.4 million in working capital outflows[571] - Net cash used in investing activities was $249.5 million in fiscal 2024, primarily due to $169.8 million in investments in certificates of deposit and $15.7 million in property and equipment purchases[572] - Net cash provided by financing activities was $175.3 million in fiscal 2024, mainly from $173.4 million in proceeds from a follow-on public offering[573] - The company maintains sufficient cash and cash equivalents to meet its needs for at least the next 12 months[569] Inventory and Assets - Inventory totaled $25.9 million as of April 27, 2024, representing 4.3% of total assets, valued at the lower of cost and net realizable value[563] Foreign Exchange and Risk Management - Foreign exchange sensitivity analysis showed that a 10% weakening of the U.S. dollar would increase operating expenses by approximately 2% in fiscal 2024[554] - The company may enter into foreign currency derivatives in the future to hedge against foreign exchange risks[581] Customer Concentration - Two customers accounted for 39% and 15% of total revenue in fiscal 2024, with the top 10 customers representing approximately 86% of total revenue[117]

Could you give us any color on the mix there into July? Is there any product growth or is most of the -- well obviously with the midpoint of revenue a bit down. But is there any IP color that you can give us? Does it stay at these kind of elevated rates after the big fiscal Q4? Thank you. Dan Fleming So it's really the product gross margin. There's a bit of a revenue mix dynamic there as well. And a lot of this part of the theme of fiscal '25 will be increasing product margin exclusive of product engineerin ...

What's Next for Credo Technology Group? While Credo Technology Group has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? Credo Technology Group Holding Ltd. (CRDO) came out with quarterly earnings of $0.07 per share, beating the Zacks Consensus Estimate of $0.05 per share. This compares to loss of $0.04 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 40%. ...

Exhibit 99.1 Credo Technology Group Holding Ltd Reports Fourth Quarter and Fiscal Year 2024 Financial Results San Jose, Calif. (May 29, 2024) - Credo Technology Group Holding Ltd (Nasdaq: CRDO) (“Credo”), an innovator in providing secure, high-speed connectivity solutions that deliver improved energy efficiency, today reported financial results for the fourth quarter and full fiscal year 2024, ended April 27, 2024. Fourth Quarter of Fiscal Year 2024 Financial Highlights • Revenue of $60.8 million grew by 89 ...

SAN JOSE, Calif., May 29, 2024 (GLOBE NEWSWIRE) -- Credo Technology Group Holding Ltd (Nasdaq: CRDO) ("Credo"), an innovator in providing secure, high-speed connectivity solutions that deliver improved energy efficiency, today reported financial results for the fourth quarter and full fiscal year 2024, ended April 27, 2024. Bill Brennan, Credo's President and Chief Executive Officer, stated, "In fiscal 2024, Credo achieved record revenue of $193.0M, with strong contributions from each of our product and lic ...

The presentation will be webcast live on Credo's IR website at http://investors.credosemi.com/. The webcast replay will be available as soon as possible following the event on Credo's IR website. About Credo SAN JOSE, Calif., May 21, 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 inf ...