CREDO TECHNOLOGY GROUP HOLDING Stock Price, News & Analysis

Credo Technology Group (Nasdaq: CRDO) reported strong financial results for Q3 FY2025, ended February 1, 2025. Revenue reached $135.0 million, showing remarkable growth of 87.4% quarter-over-quarter and 154.4% year-over-year. The company achieved GAAP gross margin of 63.6% and reported GAAP net income of $29.4 million ($0.16 per diluted share).

The record revenue was primarily driven by their AEC product line, marking a significant business inflection point. The company ended the quarter with a strong cash and short-term investment position of $379.2 million.

Looking ahead to Q4 FY2025, Credo projects revenue between $155.0-165.0 million, with expected GAAP gross margin of 62.7-64.7% and operating expenses between $73.0-75.0 million.

Credo Technology Group (NASDAQ: CRDO) has announced that its PCIe 5.0 'Toucan' retimer has successfully passed testing at the PCI-SIG Compliance Workshop #133 in Taipei. This achievement validates the retimer's compliance with PCIe 5.0 technology integration standards, leading to its inclusion on the PCI-SIG Integrators List.

The Toucan family of retimers offers PCIe specification compliance along with industry-leading latency and reach capabilities, enabling system designers to develop high-performance PCIe systems. This milestone reinforces Credo's position in high-speed connectivity solutions, particularly for AI infrastructure applications.

Credo Technology Group Holding (Nasdaq: CRDO) has announced a conference call scheduled for Tuesday, March 4, 2025, at 2:00 p.m. Pacific Time to discuss its fiscal third quarter 2025 financial results for the period ended February 1, 2025. The financial results will be released after market close on March 4, 2025.

Participants can join the call by dialing 888-596-4144 (toll-free) or +1 646-968-2525 (international) using conference ID 5251802. Registration and dial-in are recommended 10 minutes before the call starts. A live webcast and replay will be available on Credo's Investor Relations website.

Credo Technology Group (NASDAQ: CRDO) announced its participation in the Chiplet Summit Conference and Exhibition from January 21-23 at the Santa Clara Convention Center, where it will exhibit in booth 317. The company will showcase its portfolio of chiplet and IP solutions, highlighting the new 112G PAM4 SerDes IP family in TSMC's N5 process technology.

The SerDes IP family supports various ranges including long reach plus (LR+), long reach (LR), medium reach (MR), and very short reach plus (VSR+), targeting applications in AI, machine learning, high performance compute, switching, security, and optical deployments. Additionally, Jeff Twombly, VP of Business Development, will participate in a panel discussion titled 'Making Chiplets a Viable Market' on Thursday, January 23rd at 9:00am PST.

Credo Technology Group reported strong Q2 FY2025 financial results with revenue of $72.0 million, showing 20.6% quarter-over-quarter and 63.6% year-over-year growth. The company achieved a GAAP gross margin of 63.2% and recorded a GAAP net loss of $(4.2) million, or $(0.03) per share. Total product revenue reached $69.1 million. Looking ahead, Credo provided Q3 FY2025 guidance with expected revenue between $115.0-125.0 million and GAAP gross margin between 60.6-62.6%. The company ended the quarter with $383.0 million in cash and short-term investments.

Credo Technology Group (NASDAQ: CRDO) has announced its participation in the Barclays 22nd Annual Global Technology Conference. President and CEO Bill Brennan and CFO Dan Fleming will present at the event on December 11, 2024, at 2:30 p.m. PT in San Francisco, California. The presentation will be accessible through a live webcast on Credo's investor relations website, with a replay available shortly after the event.

Credo Technology Group (NASDAQ: CRDO) has released its 2024 Environmental, Social, and Governance (ESG) Report, highlighting the company's commitment to environmental stewardship, diversity, and ethical governance. The report showcases expanded efforts in Greenhouse Gas (GHG) emissions measurement, community engagement, and workplace inclusivity initiatives.

The report emphasizes Credo's focus on responsible growth alongside delivering energy-efficient technology solutions that help customers reduce their environmental impact. President & CEO Bill Brennan emphasized that ESG integration is fundamental to building a future aligned with the company's values of responsibility, transparency, and accountability.

Credo Technology Group (NASDAQ: CRDO) has completed its first Greenhouse Gas (GHG) emissions and carbon footprint calculation for 2023, partnering with environmental consultancy Minimum. The assessment focused on Scope 1 and Scope 2 emissions, covering direct office emissions and indirect emissions from purchased electricity and heating. The company has already transitioned its San Jose facilities to 100% renewable energy sources.

CEO Bill Brennan emphasized this as a pivotal year for understanding and reducing their environmental footprint. The company's high-performance connectivity solutions are designed for low power consumption, improving data center energy efficiency. Credo plans to share additional details on sustainability initiatives in its upcoming Environmental Social Governance (ESG) report.

Credo Technology Group (Nasdaq: CRDO) announced it will host a conference call on Monday, December 2, 2024, at 2:00 p.m. Pacific Time to discuss its fiscal second quarter 2025 financial results for the period ended November 2, 2024. The earnings release will be issued after market close on December 2. Participants can register online to join the call, with registration recommended 10 minutes before start time. A live webcast and replay will be available on Credo's Investor Relations website.