CREDO TECHNOLOGY GROUP HOLDING Stock Price, News & Analysis

Credo Technology Group Holding Ltd (NASDAQ: CRDO) has launched its Dove 800 Digital Signal Processor family, designed for Hyperscale Data Center and AI applications. These products address the growing demand for increased power and bandwidth, crucial for next-generation infrastructure.

The Dove 800 series supports 800Gbps and 400Gbps optical transceivers, featuring significant benefits like low power dissipation and high performance. The offerings aim to simplify engineering processes while enhancing output efficiency, meeting the needs of rapidly expanding data traffic from AI and AR/VR applications.

Credo Technology Group (NASDAQ: CRDO) announced its participation in the upcoming China International Optoelectronic Exposition and European Conference on Optical Communication this September. The company will showcase its optical solutions for 5G deployments, optical transport networking, passive optical networking, and hyperscale data centers. Credo aims to engage with customers in Asia and Europe, introducing them to its latest optical products.

Credo Technology Group Holding Ltd (NASDAQ: CRDO) has launched its 112G PAM4 SerDes Intellectual Property (IP) family utilizing TSMC’s advanced N5 and N4 process technologies. This new family supports various reach requirements, addressing demands in compute, switching, AI, machine learning, security, and optical applications. The technology allows optimization of power and performance at the lane level, catering to high-speed data needs. Customers can access design kits and evaluation boards for seamless integration with existing systems.

Credo Technology Group Holding Ltd (NASDAQ: CRDO) has scheduled a conference call on August 31, 2022, at 2:00 p.m. Pacific Time to discuss its financial results for Q1 of fiscal year 2023, which ended on July 30, 2022. The results will be released after market close on the same day. Participants can register online to join the conference call, where a live webcast will also be available on Credo's Investor Relations website.

Credo Technology Group Holding Ltd (NASDAQ: CRDO) announced the launch of its Ostrich 40G PAM3 SerDes IP, designed to enhance connectivity by increasing speeds from 20G to 40G. This silicon-proven platform supports a range of applications, including consumer devices and automotive markets, addressing the rising demand for bandwidth. With a focus on lower power consumption and high performance, Credo aims to capture growth in the evolving connectivity ecosystem. The new technology aligns with industry standards and supports data rates up to 25.6Gbps NRZ and 40Gbps PAM3.

Credo Technology Group Holding Ltd (NASDAQ: CRDO) reported significant financial results for Q4 and the full fiscal year ended April 30, 2022. Revenue surged to $37.5 million, a 90% increase year-over-year, contributing to a total annual revenue of $106.5 million, up 80%. GAAP net loss was $5.4 million, while non-GAAP net income stood at $2.8 million, resulting in GAAP net loss per share of $0.04. Cash reserves reached $259.3 million. For Q1 FY2023, projected revenue is between $43.5 million and $47.5 million, implying a 324% year-over-year rise at the midpoint.

Credo Technology Group Holding Ltd (Nasdaq: CRDO) has announced that CFO Dan Fleming will present at the Stifel 2022 Cross Sector Insight Conference on June 7, 2022, at 4:45 p.m. ET in Boston, Massachusetts. The presentation will be accessible via webcast on Credo's investor relations website. Credo specializes in secure, high-speed connectivity solutions, providing products that address increasing data rates and bandwidth requirements in the data infrastructure market. Their innovations improve power efficiency and reliability across Ethernet applications.

Credo Technology Group Holding Ltd (Nasdaq: CRDO) has announced a conference call scheduled for June 1, 2022, at 2:00 p.m. Pacific Time, to discuss its financial results for the fiscal fourth quarter and full year ending April 30, 2022. The financial results press release will be available after market close on the same day. Interested parties can participate via telephone or through a live webcast on Credo's Investor Relations website. A replay will be accessible until June 8, 2022.

Credo Technology Group Holding Ltd (NASDAQ: CRDO) reported strong financial results for Q3 FY 2022, with revenue of $31.8 million, a remarkable 136% increase year-over-year. GAAP gross margin stood at 60.1%, while non-GAAP net income was $2.4 million, translating to a net income per share of $0.03. The company also successfully completed its IPO, raising $171.9 million. Looking ahead, Q4 revenue is projected to be between $37 million to $41 million, reflecting a 97% year-over-year growth at the midpoint.