Below are the financial statements of Credo, including the income statement and balance sheet for the company's latest fiscal year. All figures are accurate, verifiable, and fully traceable to the original annual filing where disclosed.
| All figures in millions of USD | 2024 | 2023 | 2022 |
|---|---|---|---|
| Revenue | — | — | — |
| Product sales | 145.05a | 141.48a | 73.72a |
| Product engineering services | 19.9a | 10.78a | 7.74a |
| IP license | 28.02a | 31.94a | 25.02a |
| Total revenue | 192.97a | 184.19a | 106.48a |
| Cost of revenue | — | — | — |
| Cost of product sales revenue | -70.5a | -75.14a | -40.08a |
| Cost of product engineering services revenue | -2.23a | -0.97a | -1.92a |
| Cost of IP license revenue | -0.82a | -1.89a | -0.46a |
| Total cost of revenue | -73.54a | -78a | -42.46a |
| Gross profit | 119.43a | 106.19a | 64.02a |
| Operating expenses | — | — | — |
| Research and development | -95.53a | -76.77a | -47.95a |
| Selling, general and administrative | -60.19a | -48.25a | -34.9a |
| Impairment charges | -0.77a | -2.41a | -3.13a |
| Total operating expenses | -156.49a | -127.43a | -85.98a |
| Operating loss | -37.06a | -21.24a | -21.97a |
| Other income (expense), net | 14.31a | 3.32a | -0.25a |
| Loss before income taxes | -22.75a | -17.91a | -22.21a |
| Provision (benefit) for income taxes | -5.62a | -1.37a | -0.04a |
| Net loss | -28.37a | -16.55a | -22.18a |
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