Credo Technology Q1 revenue more than doubles on AI infrastructure demand; beats estimates

For the second quarter, Credo expects revenue between $525 million and $535 million.

The company sees second-quarter GAAP gross margin between 62.9% and 64.9% and non-GAAP gross margin between 67.0% and 69.0%.

Credo expects second-quarter GAAP operating expenses of $199 million to $204 million and non-GAAP operating expenses of $100 million to $105 million.

Credo said its connectivity solutions are supporting expanding data-center requirements as AI infrastructure scales.

The company said its connectivity portfolio now spans optical and copper solutions across distances from millimeters to kilometers.

Non-GAAP net income jumped 140% year over year to $236.3 million as revenue more than doubled.

Metric	Beat/Miss	Actual	Consensus Estimate
Q1 Revenue	Beat	$479.003 million	$471.77 million (15 analysts)
Q1 Adjusted EPS