Summary by Moomoo AI
Credo Technology Group Holding Ltd reported record revenue of $72.0 million for Q2 FY2025, up 20.6% QoQ and 63.6% YoY. The company achieved a GAAP gross margin of 63.2% and non-GAAP gross margin of 63.6%. Despite strong top-line growth, Credo posted a GAAP net loss of $4.2 million, while non-GAAP net income reached $12.3 million.CEO Bill Brennan noted that Q2 was Credo's most successful quarter to date across its three main product lines, with total product revenue of $69.1 million. He highlighted that the anticipated revenue inflection point has arrived earlier than expected, driven by AI deployments and deepening customer relationships.For Q3 FY2025, Credo projects revenue between $115.0-$125.0 million, representing significant sequential growth. The company expects GAAP gross margin of 60.6-62.6% and non-GAAP gross margin of 61.0-63.0%. GAAP operating expenses are forecast at $58.6-$60.6 million, with non-GAAP operating expenses of $42.0-$44.0 million.