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Credo Technology Group Holding Ltd (Nasdaq: CRDO) is a key player in the data infrastructure market, specializing in providing high-speed connectivity solutions that address the ever-increasing bandwidth requirements. The company's innovative products enhance power and cost efficiency, making significant strides in breaking bandwidth barriers across every wired connection.
Headquartered in San Jose, Calif., Credo focuses on delivering secure and high-speed connectivity solutions optimized for optical and electrical Ethernet applications. Its offerings cater to markets like 100G, 200G, 400G, 800G, and the emerging 1.6T ports. The company's product portfolio includes Integrated Circuits (ICs) for optical and line card markets, Active Electrical Cables (AECs), and SerDes Chiplets, all based on proprietary Serializer/Deserializer (SerDes) and Digital Signal Processor (DSP) technologies.
Credo's mission is to resolve system bandwidth bottlenecks while improving power efficiency, security, and reliability. This mission is underscored by the company's recent achievements and current projects, consistently pushing the envelope in the data infrastructure market.
Recent news highlights Credo's ongoing commitment to transparency and stakeholder engagement. On February 12, 2024, Credo announced a conference call to discuss its fiscal third-quarter financial results on February 27, 2024. This follows the release of their third-quarter fiscal year 2024 financial results after the market closes on the same day. Interested parties are encouraged to join the call via an online registration. A replay will be available on Credo’s Investor Relations website.
Moreover, the announcement for the fourth quarter and fiscal year 2024 financial results is slated for dissemination on May 29, 2024. This event will also include a detailed conference call, inviting stakeholders to gain insights into Credo's financial performance and future outlook.
Credo stands out with its robust portfolio of IP solutions, primarily centered around SerDes IP licensing. The company's innovations are pivotal in easing system bandwidth constraints, supporting the exponential growth in data rates and bandwidth requirements in today's digital world.
For the latest updates and detailed information, Credo encourages stakeholders to visit their official website and follow the company on LinkedIn.
Credo Technology Group reported strong Q2 FY2025 financial results with revenue of $72.0 million, showing 20.6% quarter-over-quarter and 63.6% year-over-year growth. The company achieved a GAAP gross margin of 63.2% and recorded a GAAP net loss of $(4.2) million, or $(0.03) per share. Total product revenue reached $69.1 million. Looking ahead, Credo provided Q3 FY2025 guidance with expected revenue between $115.0-125.0 million and GAAP gross margin between 60.6-62.6%. The company ended the quarter with $383.0 million in cash and short-term investments.
Credo Technology Group (NASDAQ: CRDO) has announced its participation in the Barclays 22nd Annual Global Technology Conference. President and CEO Bill Brennan and CFO Dan Fleming will present at the event on December 11, 2024, at 2:30 p.m. PT in San Francisco, California. The presentation will be accessible through a live webcast on Credo's investor relations website, with a replay available shortly after the event.
Credo Technology Group (NASDAQ: CRDO) has released its 2024 Environmental, Social, and Governance (ESG) Report, highlighting the company's commitment to environmental stewardship, diversity, and ethical governance. The report showcases expanded efforts in Greenhouse Gas (GHG) emissions measurement, community engagement, and workplace inclusivity initiatives.
The report emphasizes Credo's focus on responsible growth alongside delivering energy-efficient technology solutions that help customers reduce their environmental impact. President & CEO Bill Brennan emphasized that ESG integration is fundamental to building a future aligned with the company's values of responsibility, transparency, and accountability.
Credo Technology Group (NASDAQ: CRDO) has completed its first Greenhouse Gas (GHG) emissions and carbon footprint calculation for 2023, partnering with environmental consultancy Minimum. The assessment focused on Scope 1 and Scope 2 emissions, covering direct office emissions and indirect emissions from purchased electricity and heating. The company has already transitioned its San Jose facilities to 100% renewable energy sources.
CEO Bill Brennan emphasized this as a pivotal year for understanding and reducing their environmental footprint. The company's high-performance connectivity solutions are designed for low power consumption, improving data center energy efficiency. Credo plans to share additional details on sustainability initiatives in its upcoming Environmental Social Governance (ESG) report.
Credo Technology Group (Nasdaq: CRDO) announced it will host a conference call on Monday, December 2, 2024, at 2:00 p.m. Pacific Time to discuss its fiscal second quarter 2025 financial results for the period ended November 2, 2024. The earnings release will be issued after market close on December 2. Participants can register online to join the call, with registration recommended 10 minutes before start time. A live webcast and replay will be available on Credo's Investor Relations website.
Credo Technology Group (NASDAQ: CRDO) has partnered with Net One Systems to distribute its HiWire Active Electrical Cables (AECs) in the Japanese market for the first time. The collaboration aims to support Japan's growing generative AI infrastructure needs. HiWire AECs offer advantages over traditional Active Optical Cables, including lower power consumption and greater configuration flexibility. The partnership targets high-bandwidth and low-power communication networks essential for generative AI, hyperscale data centers, and telecommunications buildouts.
Credo Technology Group Holding (NASDAQ: CRDO) will showcase its latest connectivity solutions at the OCP Global Summit from October 15-17, 2024, in San Jose, CA. The company will demonstrate its newly introduced PCI Express 6.0 devices and CXL interconnect, including the Toucan PCIe 6.0 retimer and 1Tb OSFP-XD PCIe6 Active Electrical Cable.
In collaboration with partners like AMD, GIGABYTE, and XConn, Credo will present live demonstrations of PCIe and CXL interconnect technologies. These demos will showcase rack-scale shared H100 GPU systems, CXL2.0 shared memory systems, and the impact of liquid cooling on AI GPU racks. The event will highlight Credo's role in providing high-speed, energy-efficient connectivity solutions for data infrastructure, particularly in AI and high-performance computing applications.
Credo Technology Group Holding (NASDAQ: CRDO) has announced its first Toucan PCI Express (PCIe) 6, Compute Express Link (CXL) 3.x and Magpie PCIe 7, CXL 4.x retimers and OSFP-XD 16x64GT/s (1Tb) PCIe6/CXL HiWire AECs. These new products leverage Credo's SerDes expertise to deliver energy-efficient solutions for high-speed connectivity in data infrastructure.
The company will demonstrate the Toucan PCIe 6 retimers and HiWire AECs at the upcoming Open Compute Project (OCP) Summit from October 15-17. Credo's new PCIe 6 and PCIe 7 retimers offer industry-leading performance and power efficiency while being built on lower cost, more mature process nodes compared to competitors. The products also include enhanced diagnostic tools for rapid system bring-up and debugging.
Credo's Toucan PCIe6/CXL3.x retimer, based on the TSMC N7 process, will sample in Q4 2024, while the Magpie PCIe7/CXL4.x retimer, using TSMC N5 process, will begin sampling in H2 2025.
Credo Technology Group Holding (Nasdaq: CRDO) has introduced the new 800G ZeroFlap (ZF) family of HiWire Active Electrical Cables (AECs) for AI backend networks. These high-performance AECs can reach lengths of 7 m and are designed to deliver highly reliable interconnect for AI clusters.
Key features include:
- Zero soft link flaps to support lossless backend RDMA networks
- Improved reach and signal integrity
- Compatibility with liquid cooling advancements
- Power savings of up to 14W per link compared to legacy optics
- Cost savings of up to $1,000 per GPU
The HiWire ZF family includes four new product offerings: 800G OSFP to OSFP, OSFP to OSFP-RHS, OSFP to 2*OSFP-RHS, and OSFP to 2*Q112. Credo will demonstrate these new AECs at the upcoming Open Compute Project 2024 Summit in San Jose, USA from Oct 15 – 17, 2024.
Credo Technology Group Holding (Nasdaq: CRDO) has unveiled a new family of HiWire Active Electrical Cables (AECs) called HiWire Shift. These cables are designed for the growing 400G Q112 network port market in China's Hyperscale Data Centers, specifically addressing AI/ML backend network connections to Top of Rack (TOR) Switches. The new products offer improved energy efficiency, performance, and reliability with up to 100M hours MTBF for critical AI/ML applications.
The HiWire Shift AEC family includes three new Q112 products, currently sampling with production scheduled for Q1/2025. Credo will showcase these new AECs at the upcoming China International Optoelectronic Expo (CIOE) 2024 in Shenzhen, September 11-13, 2024.
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