Credo Technology reports Q2 FY23 record revenue $51.4M, up 94% YoY; guides Q3 $54-56M

Credo Technology Group Holding Ltd

2023-Q2 EPS reported -$0.02 revenue$97,836,000

Record revenue of $51.4M in Q2 FY23, up 11% QoQ and 94% YoY.
GAAP net loss of $3.4M ($0.02 per share); non-GAAP net income of $2.4M ($0.02 diluted EPS).
Q3 FY23 guidance: revenue between $54M and $56M (up ~73% YoY at midpoint); GAAP gross margin 58.7%-60.7%.
Full FY23 revenue expected to be at least $200M, representing >88% growth vs FY22.
Ending cash and short-term investments of $240.5M provides strong balance sheet.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Credo Technology Group Holding Ltd reported second quarter of fiscal year 2023, ended October 29, 2022 results: revenue $51.4 million, net income $3.4 million, EPS $0.02. Guidance reaffirmed.

Period: second quarter of fiscal year 2023, ended October 29, 2022
Revenue: $51.4 million
Net income: $3.4 million
EPS: $0.02
Guidance: reaffirmed
Result: reported results

Exact text from the filing

today reported financial results for the second quarter of fiscal year 2023, ended October 29, 2022. Q2 FY23 Financial Highlights • Revenue of $51.4 million, grew by 11% quarter over quarter • GAAP gross margin of 54.4% and non-GAAP gross margin of 54.9% • GAAP operating expenses of $29.7 million and non-GAAP operating expenses of $25.0 million • GAAP net loss of $3.4 million and non-GAAP net income of $2.4 million • GAAP net loss per share of $0.02 and non-GAAP diluted net income per share of $0.02

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Source: SEC EDGAR

accession 0001628280-22-031075

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