Credo Technology Group Holding Ltd
For the period ended Apr 27, 2024. Filed Jun 24, 2024.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Jun 24, 2024
CRDO$129.80-2.3%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows
(in thousands)
| Year Ended | |||
|---|---|---|---|
| April 27, 2024 | April 29, 2023 | April 30, 2022 | |
| Cash flows from operating activities: | |||
| Net loss | $(28,369) | $(16,547) | $(22,176) |
| Adjustments to reconcile net loss to net cash used in operating activities: | |||
| Depreciation and amortization | 13,771 | 9,514 | 4,793 |
| Share-based compensation | 39,022 | 23,516 | 9,188 |
| Warrant contra revenue | 3,925 | 1,220 | 640 |
| Write-downs for excess and obsolete inventory | 4,354 | 5,693 | 1,444 |
| Impairment of assets | 765 | 2,407 | 4,887 |
| Changes in operating assets and liabilities | |||
| Accounts receivable | (10,121) | (20,017) | (15,879) |
| Inventories | 15,762 | (24,379) | (21,677) |
| Contract assets | (12,117) | 1,609 | (4,673) |
| Prepaid and other current assets | (7,719) | 512 | 2,808 |
| Other non-current assets | (654) | (7,977) | (1,654) |
| Accounts payable | 8,806 | (3,843) | 4,748 |
| Accrued expenses, compensation and other liabilities | 5,703 | 491 | 9,601 |
| Deferred revenue | (391) | 3,186 | (2,882) |
| Net cash provided by (used in) operating activities | 32,737 | (24,615) | (30,832) |
| Cash flows from investing activities: | |||
| Purchases of property and equipment | (15,652) | (21,713) | (17,580) |
| Purchases of short-term investments | (403,587) | (159,228) | — |
| Maturities of short-term investments | 169,754 | 50,000 | — |
| Net cash used in investing activities | (249,485) | (130,941) | (17,580) |
| Cash flows from financing activities: | |||
| Proceeds from issuance of ordinary shares in connection with public offering, net of offering costs | 173,431 | — | 194,205 |
| Payments on technology license obligations | (3,052) | (616) | — |
| Proceeds from employee share incentive plans | 7,055 | 5,501 | 2,731 |
| Tax withheld related to RSU settlement | (2,158) | — | — |
| Proceeds from issuance of convertible preferred shares, net of issuance costs | — | — | 7,245 |
| Net cash provided by financing activities | 175,276 | 4,885 | 204,181 |
| Effect of exchange rate changes on cash | (169) | (68) | (204) |
| Net increase (decrease) in cash and cash equivalents | (41,641) | (150,739) | 155,565 |
| Cash and cash equivalents at beginning of the year | 108,583 | 259,322 | 103,757 |
| Cash and cash equivalents at end of the year | $66,942 | $108,583 | $259,322 |
| Supplemental cash flow information: | |||
| Income taxes paid | $(1,054) | $(1,204) | $(427) |
| Purchases of property and equipment included in accounts payable, accrued expenses and other liabilities | $8,287 | $10,909 | $168 |
| Conversion of convertible preferred shares into ordinary shares upon initial public offering | $— | $— | $205,210 |
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