Filing Flows › Credo Technology Group Holding (CRDO) › Q3 FY25
Credo Technology Group Holding (CRDO) Q3 FY25 earnings results (third quarter fiscal 2025)
10-Q filed Mar 10, 2025
Credo Technology Group Holding (CRDO) reported revenue of $135M for the third quarter fiscal 2025 (Q3 FY25), +154% from a year earlier and +87% from the quarter before. Operating margin was 19.4%, net earnings $29.4M (21.7% of revenue).
Credo Technology Group Holding, Q3 FY25: revenue $135M (+154% year over year), operating margin 19.4%, net earnings $29.4M, operating cash flow $4.2M. The chart follows the revenue to costs, profit and cash.
| Q3 FY25 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $135M | +87% | +154% |
| Gross profit | $85.9M | +89% | +164% |
| Operating profit | $26.2M | — | — |
| Net earnings | $29.4M | — | 69× |
| Operating cash flow | $4.2M | -59% | — |
What changed
Revenue was $135.0M in Q3 FY25, up 154% year over year and up 87% from the previous quarter. Product sales was the largest line at 96% of revenue. Product sales added $89.4M year over year (up 224%), 109% of the total change. Product engineering services declined 77%.
Gross margin was 63.6%, up 2.3 points from a year earlier. Operating profit was $26.2M, a 19.4% margin (up 30.5 points year over year). Operating expenses grew 55% against revenue growth of 154%. The fastest-growing cost line was SG&A (+65%). Net earnings were $29.4M, up 6760% year over year. The effective tax rate was 2.5%.
Operating cash flow was $4.2M, 14% of net earnings. Non-cash charges added back $5.1M of depreciation and amortization and $16.2M of share-based compensation. Working capital and other items used $46.4M. Capital expenditures of $4.6M exceeded it, leaving free cash flow of −$383K.
Questions
What was Credo Technology Group Holding's revenue in the third quarter fiscal 2025?
Credo Technology Group Holding (CRDO) reported revenue of $135M for the third quarter fiscal 2025 (Q3 FY25), +154% from a year earlier and +87% from the quarter before.
Was Credo Technology Group Holding profitable in the third quarter fiscal 2025?
Operating profit was $26.2M (19.4% of revenue) and net earnings $29.4M.