SAN JOSE, Calif.

Credo Technology Group Holding Ltd (NASDAQ: CRDO) reported its first-quarter fiscal 2025 results, meeting expectations but seeing shares fall by 3.6% in after-hours trading.

Financial Highlights

• Adjusted Earnings Per Share: $0.04 (in line with estimates)
• Revenue: $59.7 million (slightly above the consensus of $59.48 million, up 70% YoY)
• Product Revenue: $57.3 million (record high, 30% increase sequentially)

CEO Bill Brennan attributed growth to customers’ AI infrastructure deployments, anticipating contributions from their suite of innovative, power-efficient high-speed connectivity solutions.

Q2 Forecast

For the second quarter, Credo forecasts revenue between $65 million and $68 million, exceeding the analyst consensus of $64.91 million.

Brennan emphasized that AI infrastructure deployments are pivotal for recent and future growth.

The company concluded the quarter with $398.6 million in cash and short-term investments.

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