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Credo Technology | 10-Q: Q1 2025 Earnings Report

Credo Technology | 10-Q: Q1 2025 Earnings Report

Credo Technology | 10-Q：2025财年一季报
美股SEC公告 ·  2024/09/06 05:08

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Credo Technology reported strong Q1 FY2025 results with revenue reaching $59.7 million, up 70.1% YoY from $35.1 million. Product sales revenue increased 79.3% to $53.8 million, primarily driven by Active Electrical Cables (AEC) products which contributed over 90% of the growth due to successful ramp-up at a second hyperscale data center customer. Gross margin improved to 62.4% from 59.2% YoY.The company posted a net loss of $9.5 million, compared to $11.7 million loss in the prior year period. Operating expenses rose to $51.7 million from $35.2 million, with R&D expenses increasing 34.3% to $30.4 million due to higher share-based compensation and new hires for product development. Cash and cash equivalents stood at $103.9 million as of August 3, 2024.Management maintains a strong focus on product innovation and market expansion in the data infrastructure sector, particularly targeting AI infrastructure applications. The company's connectivity solutions continue to gain traction in high-speed Ethernet applications ranging from 100G to emerging 1.6T markets, with customer concentration expected to decrease as products achieve wider market adoption.
Credo Technology reported strong Q1 FY2025 results with revenue reaching $59.7 million, up 70.1% YoY from $35.1 million. Product sales revenue increased 79.3% to $53.8 million, primarily driven by Active Electrical Cables (AEC) products which contributed over 90% of the growth due to successful ramp-up at a second hyperscale data center customer. Gross margin improved to 62.4% from 59.2% YoY.The company posted a net loss of $9.5 million, compared to $11.7 million loss in the prior year period. Operating expenses rose to $51.7 million from $35.2 million, with R&D expenses increasing 34.3% to $30.4 million due to higher share-based compensation and new hires for product development. Cash and cash equivalents stood at $103.9 million as of August 3, 2024.Management maintains a strong focus on product innovation and market expansion in the data infrastructure sector, particularly targeting AI infrastructure applications. The company's connectivity solutions continue to gain traction in high-speed Ethernet applications ranging from 100G to emerging 1.6T markets, with customer concentration expected to decrease as products achieve wider market adoption.
Credo科技公布了2025财年第一季度的强劲业绩，营业收入达到5970万，同比增长70.1%，而去年为3510万。产品销售收入增长79.3%，达到5380万，主要受益于主动电缆（AEC）产品，这些产品的增长贡献超过90%，因在第二个超大规模数据中心客户的成功扩展。毛利率同比改善至62.4%，而去年为59.2%。公司报告净亏损950万，而去年同期亏损为1170万。营业费用从3520万上升至5170万，研发费用因基于股份的补偿和产品开发的新招聘而增加34.3%，达到3040万。截至2024年8月3日，现金及现金等价物为10390万。管理层继续专注于产品创新和数据基础设施板块的市场扩展，特别是针对人工智能基础设施应用。公司的连接解决方案在从100G到新兴1.6万亿市场的高速度以太网应用中持续获得关注，随产品实现更广泛的市场采用，客户集中度预计将降低。
Credo科技公布了2025财年第一季度的强劲业绩，营业收入达到5970万，同比增长70.1%，而去年为3510万。产品销售收入增长79.3%，达到5380万，主要受益于主动电缆（AEC）产品，这些产品的增长贡献超过90%，因在第二个超大规模数据中心客户的成功扩展。毛利率同比改善至62.4%，而去年为59.2%。公司报告净亏损950万，而去年同期亏损为1170万。营业费用从3520万上升至5170万，研发费用因基于股份的补偿和产品开发的新招聘而增加34.3%，达到3040万。截至2024年8月3日，现金及现金等价物为10390万。管理层继续专注于产品创新和数据基础设施板块的市场扩展，特别是针对人工智能基础设施应用。公司的连接解决方案在从100G到新兴1.6万亿市场的高速度以太网应用中持续获得关注，随产品实现更广泛的市场采用，客户集中度预计将降低。
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