Welcome to our dedicated page for CREDO TECHNOLOGY GROUP HOLDING news (Ticker: CRDO), a resource for investors and traders seeking the latest updates and insights on CREDO TECHNOLOGY GROUP HOLDING stock.
Credo Technology Group Holding Ltd develops high-speed connectivity solutions for data infrastructure, AI, cloud computing and hyperscale networks. News about CRDO centers on product launches and technology updates for optical and electrical Ethernet applications, including Active Electrical Cables, optical transceivers, optical DSPs, SerDes chiplets, retimers and SerDes IP licensing.
Recurring updates also cover Credo product families and platforms such as ZeroFlap, OmniConnect, Weaver, Robin, Cardinal and PILOT, as well as participation in semiconductor technology events, environmental reporting, financial results, capital actions, governance matters and intellectual-property settlements tied to AEC technology.
Credo Technology Group Holding (Nasdaq: CRDO) has unveiled a new family of HiWire Active Electrical Cables (AECs) called HiWire Shift. These cables are designed for the growing 400G Q112 network port market in China's Hyperscale Data Centers, specifically addressing AI/ML backend network connections to Top of Rack (TOR) Switches. The new products offer improved energy efficiency, performance, and reliability with up to 100M hours MTBF for critical AI/ML applications.
The HiWire Shift AEC family includes three new Q112 products, currently sampling with production scheduled for Q1/2025. Credo will showcase these new AECs at the upcoming China International Optoelectronic Expo (CIOE) 2024 in Shenzhen, September 11-13, 2024.
Credo Technology Group Holding (Nasdaq: CRDO) reported its Q1 FY2025 financial results, ending August 3, 2024. The company achieved revenue of $59.7 million, a 70% year-over-year increase. Key highlights include:
- GAAP gross margin: 62.4%
- Non-GAAP gross margin: 62.9%
- GAAP net loss: $(9.5) million
- Non-GAAP net income: $7.0 million
- GAAP diluted net loss per share: $(0.06)
- Non-GAAP diluted net income per share: $0.04
Credo's product revenues reached a record $57.3 million, up 30% from the previous quarter. The company attributes its growth to AI infrastructure deployments and expects continued contributions from its high-speed connectivity solutions. For Q2 FY2025, Credo projects revenue between $65.0 million and $68.0 million.
Credo Technology Group Holding (NASDAQ: CRDO) will showcase its optical solutions at the 25th China International Optoelectronic Exposition (CIOE) from September 11–13, 2024, in Shenzhen. The company will demonstrate its latest 400G and 800G optical DSP innovations for AI networking, including:
- Dove 850 800G Digital Signal Processor (DSP) IC
- Seagull 452 DSP for 400G AOCs and multi-mode transceivers
- Dove 800 for 800G networking transceivers
Credo will host meetings by appointment in a private demo area at booth 12C29 in the Information and Communication Expo Area of Hall 12. This event allows Credo to connect with global customers and align its solutions with evolving market needs.
Credo Technology Group Holding (NASDAQ: CRDO), a provider of secure, high-speed connectivity solutions, has appointed Jim Laufman as its new Chief Legal Officer (CLO) and Corporate Secretary. CEO Bill Brennan praised Laufman's extensive business and legal experience, particularly in the connectivity space, as valuable for managing new growth opportunities. Laufman expressed enthusiasm about joining Credo, highlighting the company's pioneering work in Active Electrical Cables and its potential for growth in the connectivity industry.
Laufman brings decades of experience leading legal departments for public companies, including roles at Integrated Device Technology, Marvell Technology, and Infinera His expertise spans corporate governance, mergers and acquisitions, commercial contracts, intellectual property licensing, litigation management, and enterprise risk management. Laufman holds a JD from Santa Clara University School of Law.
Credo Semiconductor Inc. (CRDO) has been named a Top Workplace 2024 in the Greater Bay Area by the San Francisco Chronicle. This recognition is based on employee feedback gathered through a confidential survey conducted by Energage The survey measures various aspects of employee experience, including feeling respected, supported, and empowered to grow and execute.
CEO Bill Brennan highlighted that this award reflects the company's core value of 'Believe' and acknowledges the team's passion, persistence, and creativity. Credo's high-bandwidth connectivity solutions play a important role in enabling generative AI platforms, driving innovation in the industry. Energage CEO Eric Rubino emphasized the importance of employee voice in today's market, noting that Top Workplaces prioritize this aspect, leading to significant benefits.
Credo Technology Group Holding (NASDAQ: CRDO), a provider of secure, high-speed connectivity solutions, has announced its participation in the upcoming Goldman Sachs Communacopia + Technology Conference. The event is scheduled for Wednesday, September 11, 2024, at 10:10 a.m. PT in San Francisco, California.
Bill Brennan, President and CEO, and Dan Fleming, CFO, will represent Credo at the conference. The presentation will be webcast live on Credo's IR website, with a replay available shortly after the event. This appearance provides an opportunity for Credo to showcase its innovative solutions that improve energy efficiency in the growing data infrastructure market.
Credo Technology Group Holding (Nasdaq: CRDO) has announced a change in the date for its first quarter fiscal year 2025 financial results conference call. The call will now take place on Wednesday, September 4, 2024, at 2:00 p.m. Pacific Time. The company will release its financial results for the fiscal first quarter ended August 3, 2024, after the market closes on the same day. Interested parties can register for the call online and join via dial-in details provided upon registration. A live webcast of the conference call will be available on Credo's Investor Relations website, with a replay accessible afterwards.
Credo Technology Group Holding (Nasdaq: CRDO), a provider of secure, high-speed connectivity solutions with improved energy efficiency, has announced its fiscal Q1 2025 financial results conference call. The call is scheduled for August 28, 2024, at 2:00 p.m. Pacific Time. Credo will release its Q1 FY2025 financial results after market close on the same day. Interested parties can join the call by registering online and are advised to dial in at least 10 minutes before the start. A live webcast will be available on Credo's Investor Relations website, with a replay accessible afterwards.
Credo Technology Group Holding (NASDAQ: CRDO) announced that its President and CEO, Bill Brennan, along with CFO, Dan Fleming, will present at the 2024 Mizuho Technology Conference. The presentation is scheduled for Wednesday, June 12, 2024, at 1:15 p.m. ET in New York City.
The event will be webcast live on Credo’s investor relations website, with a replay available soon after the event.
Credo Technology Group Holding (Nasdaq: CRDO) announced its Q4 and full fiscal year 2024 financial results. The company reported a significant revenue growth of 89.4% year over year, reaching $60.8 million for Q4. GAAP gross margin was 65.8%, and non-GAAP gross margin was 66.1%. GAAP operating expenses stood at $47.8 million, while non-GAAP operating expenses were $32.7 million. Q4 saw a GAAP net loss of $10.5 million, but a non-GAAP net income of $11.8 million. GAAP diluted net loss per share was $0.06 and non-GAAP diluted net income per share was $0.07. The company closed the fiscal year with a cash and short-term investment balance of $410 million. Looking ahead, Credo expects Q1 FY 2025 revenue to be between $58 million and $61 million, with GAAP gross margin between 62.3% and 64.3% and non-GAAP gross margin between 63.0% and 65.0%.