Reports Q1 revenue $59.7M , consensus $59.54M. GAAP gross margin of 62.4% and non-GAAP gross margin of 62.9%…Bill Brennan, Credo’s President and Chief Executive Officer, stated, “For the first fiscal quarter ended August 3, 2024, Credo reported revenue of $59.7 million. This total included record product revenues of $57.3 million, an increase of 30% compared to the prior quarter. Our customers’ AI infrastructure deployments remain the catalyst for our recent and expected growth. Going forward in fiscal 2025 and beyond, we expect contributions from our entire suite of innovative, power and cost-efficient, high-speed connectivity solutions.”
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