Roth/MKM Reiterates Buy Rating on Credo Technology Group Holding Ltd. (CRDO)

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Credo Technology Group Holding Ltd Reports Fourth Quarter and Fiscal Year 2024 Financial Results

May 29, 2024 4:05 PM EDT

SAN JOSE, Calif., May 29, 2024 (GLOBE NEWSWIRE) -- Credo Technology Group Holding Ltd (Nasdaq: CRDO) (Credo), an innovator in providing secure, high-speed connectivity solutions that deliver improved energy efficiency, today reported financial results for the fourth quarter and full fiscal year 2024, ended April 27, 2024.

Fourth Quarter of Fiscal Year 2024 Financial Highlights

Revenue of $60.8 million grew by 89.4% year over yearGAAP gross margin of 65.8% and non-GAAP gross margin of 66.1%  GAAP operating expenses of $47.8 million and non-GAAP operating expenses of $32.7 millionGAAP net loss of $10.5 million and... More