Credo Technology Group Holding Ltd. has released its financial results for the fiscal year ending May 3, 2025. The company reported a significant shift in its revenue composition, with product sales accounting for 94.4% of total revenue, a notable increase from 75.2% in the previous year. Conversely, revenue from product engineering services and IP licenses experienced declines, representing 2.8% and 2.9% of total revenue, respectively, compared to 10.3% and 14.5% in the prior year. Credo's gross margin improved to 64.8% from 61.9% the previous year, reflecting enhanced operational efficiency. Operating income was reported at 8.5% of total revenue, a substantial improvement from an operating loss of 19.2% in the previous fiscal year. This turnaround was driven by a reduction in operating expenses, which decreased to 56.3% of total revenue from 81.1%. The company's focus remains on redefining high-speed connectivity, with a commitment to providing faster, more reliable, and energy-efficient solutions to support AI, cloud computing, and hyperscale networks. Credo continues to optimize its connectivity solutions for various Ethernet and PCIe applications, including emerging technologies like 1.6T.