Credo Q1 FY2023 revenue $46.5M, up 24% QoQ; guides Q2 $48.5-52.5M, +91% YoY

Credo Technology Group Holding Ltd

2023-Q1 EPS reported $0.00 revenue$46,467,000

Revenue $46.5M, up 24% QoQ from $37.5M; product revenue up 37% sequentially.
GAAP net loss $0.1M ($0.00 EPS); non-GAAP net income $5.4M ($0.03 diluted EPS).
Q2 FY2023 guidance: revenue $48.5-52.5M (91% YoY growth); GAAP gross margin 58.5-60.5%.
Management reiterates FY2023 revenue target of at least $200M (88%+ YoY growth).
Ending cash $243.8M; non-GAAP gross margin 60.5%.

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