Summary by Moomoo AI
Credo Technology reported record Q2 FY2025 revenue of $72.0 million, up 20.6% QoQ and 63.6% YoY, with product revenue reaching $69.1 million. The company posted a GAAP net loss of $4.2 million, while achieving non-GAAP net income of $12.3 million. Gross margin stood at 63.2% GAAP and 63.6% non-GAAP.The company has reached an inflection point in revenues earlier than anticipated, driven by increasing AI deployments and strengthening customer relationships. Management expressed confidence in continued growth momentum, forecasting Q3 FY2025 revenue between $115.0-125.0 million with expected gross margins of 60.6-62.6% GAAP and 61.0-63.0% non-GAAP.The company maintains a strong financial position with $383.0 million in cash and short-term investments. Operating expenses were $53.9 million GAAP and $37.6 million non-GAAP for the quarter, reflecting ongoing investments in research and development to support growth initiatives.
