CREDO TECHNOLOGY GROUP HOLDING - CRDO STOCK NEWS

Credo Technology Group Holding Ltd (NASDAQ: CRDO) announced a partnership with Keysight, which has selected Credo's retimer/gearbox devices for their 800GE network device testing solutions. This collaboration enhances test capabilities for Ethernet protocols and supports high-performance SERDES with 112 Gb/s electrical lanes. Keysight aims to offer comprehensive test solutions to advance 800GE infrastructure and ensure interoperability among devices. The partnership reflects an alignment with growing market demands for efficient and high-density testing in data centers.

Credo Technology Group Holding Ltd (NASDAQ: CRDO) will present at the Goldman Sachs 2022 Communacopia + Technology Conference on September 14, 2022, at 3:45 p.m. PT in San Francisco, California. CEO Bill Brennan and CFO Dan Fleming will share insights on the company's innovations in secure, high-speed connectivity solutions, aimed at enhancing power and cost efficiency in data infrastructure. The event will be webcast live, and the replay will be available on the investor relations website.

Credo Technology Group (NASDAQ: CRDO) reported strong Q1 FY23 results, with revenue of $46.5 million, a 24% quarter-over-quarter growth, and a GAAP gross margin of 59.5%. The company achieved a non-GAAP net income of $5.4 million with a diluted EPS of $0.03. Management expects Q2 revenue to range between $48.5 million and $52.5 million, projecting an impressive 91% year-over-year growth. Ending cash balance stood at $243.8 million, positioning the company well for future growth.

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.