Credo Technology Group Holding Ltd Reports Second Quarter of Fiscal Year 2026 Financial Results

Core Insights - Credo Technology Group Holding Ltd reported a record revenue of $268.0 million for the second quarter of fiscal year 2026, marking a 20% increase sequentially and a remarkable 272% increase year-over-year, driven by the expansion of AI training and inference clusters [2][6]. Financial Highlights - Revenue of $268.0 million, up 20.2% quarter-over-quarter and 272.1% year-over-year [6]. - GAAP gross margin at 67.5% and non-GAAP gross margin at 67.7% [6]. - GAAP operating expenses totaled $102.3 million, while non-GAAP operating expenses were $57.3 million [6]. - GAAP net income reached $82.6 million, with non-GAAP net income at $127.8 million [6]. - GAAP diluted net income per share was $0.44, and non-GAAP diluted net income per share was $0.67 [6]. - Ending cash and short-term investments amounted to $813.6 million [6]. Future Outlook - Revenue is projected to be between $335.0 million and $345.0 million for the next quarter [7]. - Expected GAAP gross margin is between 63.8% and 65.8%, while non-GAAP gross margin is anticipated to be between 64.0% and 66.0% [7]. - GAAP operating expenses are expected to range from $116.0 million to $120.0 million, with non-GAAP operating expenses projected between $68.0 million and $72.0 million [7].