---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-23-030511"
form_type: "8-K"
ticker: "CRDO"
cik: "0001807794"
company_name: "Credo Technology Group Holding Ltd"
filed_at: "2023-08-24T23:59:59+00:00"
generated_at: "2026-06-11T04:16:49.541677+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Credo Tech Q1 FY2024 rev $35.1M (+9% QoQ), net loss $11.7M; Q2 guidance $42-44M

## Summary
- Q1 revenue $35.1M, up 9% quarter-over-quarter; GAAP net loss $11.7M ($0.08 per share), non-GAAP net loss $4.7M ($0.03).
- GAAP gross margin 59.2%, non-GAAP 59.8%. Cash and short-term investments $237.6M.
- Q2 FY2024 guidance: revenue $42-44M, GAAP gross margin 57.8-59.8%, non-GAAP opex $27-29M.
- CEO expects sequential growth through FY2024, led by multiple customers and expanding connectivity solutions.
- Ticker: CRDO (Nasdaq).

## SEC filing metadata
- accession: 0001628280-23-030511
- form_type: 8-K
- ticker: CRDO
- cik: 0001807794
- company_name: Credo Technology Group Holding Ltd
- filed_at: 2023-08-24T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1807794/000162828023030511/0001628280-23-030511-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1807794/000162828023030511/crdo-20230824.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-23-030511
- JSON: https://secwatch.observer/filing/0001628280-23-030511.json
- Plain text: https://secwatch.observer/filing/0001628280-23-030511.txt

## Key facts
- Earnings Releases
  Credo Technology Group Holding Ltd reported first quarter of fiscal year 2024 results: revenue $35.1 million, net income GAAP net loss of $11.7 million and non-GAAP net loss of $4.7 million, EPS GAAP diluted net loss per share of $0.08 and non-GAAP diluted net loss per share of $0.03.
  - Period: first quarter of fiscal year 2024
  - Revenue: $35.1 million
  - Net income: GAAP net loss of $11.7 million and non-GAAP net loss of $4.7 million
  - EPS: GAAP diluted net loss per share of $0.08 and non-GAAP diluted net loss per share of $0.03
  - Result: reported results
  source text: First Quarter of Fiscal Year 2024 Financial Highlights • Revenue of $35.1 million, grew by 9% quarter over quarter • GAAP gross margin of 59.2% and non-GAAP gross margin of 59.8% • GAAP operating expenses of $35.2 million and non-GAAP operating expenses of $27.4 million • GAAP net loss of $11.7 million and non-GAAP net loss of $4.7 million • GAAP diluted net loss per share of $0.08 and non-GAAP diluted net loss per share of $0.03 • Ending cash and short-term investment balance of $237.6 million
  evidence_url: https://www.sec.gov/Archives/edgar/data/1807794/000162828023030511/0001628280-23-030511-index.htm
- Earnings Releases
  Credo Technology Group Holding Ltd reported second quarter of fiscal 2024 results: revenue between $42.0 million and $44.0 million. Guidance initiated.
  - Period: second quarter of fiscal 2024
  - Revenue: between $42.0 million and $44.0 million
  - Guidance: initiated
  - Result: guidance update
  source text: Second Quarter of Fiscal 2024 Financial Outlook • Revenue is expected to be between $42.0 million and $44.0 million • GAAP gross margin is expected to be between 57.8% and 59.8%, and non-GAAP gross margin is expected to be between 58.0% and 60.0% • GAAP operating expenses are expected to be between $35.0 million and $37.0 million, and non-GAAP operating expenses are expected to be between $27.0 million and $29.0 million
  evidence_url: https://www.sec.gov/Archives/edgar/data/1807794/000162828023030511/0001628280-23-030511-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.