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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財年一季報
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科技公佈了2025財年第一季度的強勁業績，營業收入達到5970萬，同比增長70.1%，而去年爲3510萬。產品銷售收入增長79.3%，達到5380萬，主要受益於主動電纜（AEC）產品，這些產品的增長貢獻超過90%，因在第二個超大規模數據中心客戶的成功擴展。毛利率同比改善至62.4%，而去年爲59.2%。公司報告淨虧損950萬，而去年同期虧損爲1170萬。營業費用從3520萬上升至5170萬，研發費用因基於股份的補償和產品開發的新招聘而增加34.3%，達到3040萬。截至2024年8月3日，現金及現金等價物爲10390萬。管理層繼續專注於產品創新和數據基礎設施板塊的市場擴展，特別是針對人工智能基礎設施應用。公司的連接解決方案在從100G到新興1.6萬億市場的高速度以太網應用中持續獲得關注，隨產品實現更廣泛的市場採用，客戶集中度預計將降低。
Credo科技公佈了2025財年第一季度的強勁業績，營業收入達到5970萬，同比增長70.1%，而去年爲3510萬。產品銷售收入增長79.3%，達到5380萬，主要受益於主動電纜（AEC）產品，這些產品的增長貢獻超過90%，因在第二個超大規模數據中心客戶的成功擴展。毛利率同比改善至62.4%，而去年爲59.2%。公司報告淨虧損950萬，而去年同期虧損爲1170萬。營業費用從3520萬上升至5170萬，研發費用因基於股份的補償和產品開發的新招聘而增加34.3%，達到3040萬。截至2024年8月3日，現金及現金等價物爲10390萬。管理層繼續專注於產品創新和數據基礎設施板塊的市場擴展，特別是針對人工智能基礎設施應用。公司的連接解決方案在從100G到新興1.6萬億市場的高速度以太網應用中持續獲得關注，隨產品實現更廣泛的市場採用，客戶集中度預計將降低。
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