Credo Technology
What matters nowUpdated 5 h ago
- Credo reported fiscal Q1 2027 results on September 1, 2026, with revenue of $479.0 million, up 115% from a year earlier ·. The 10-Q followed on September 2, and the company guided fiscal Q2 2027 revenue to $525 million to $535 million.
- CRDO traded at 189.05 on the pooled 24/7 venue price, down 4.08% from the previous close of 197.09. Recent daily moves include a 10.00% fall on October 12, a 4.51% fall on October 8, and gains of 6.85% on October 1 and 4.93% on October 2.
- Trailing twelve-month revenue is $1.59 billion as of August 1, 2026, up 165.1% year on year, with the latest quarter up 114.7%. Gross margin is 67.1%, operating margin 31.7%, net margin 33.8% and free cash flow margin 27.6%.
- At a market capitalization of $35.5 billion, the stock trades on 67.0 times trailing earnings, 22.3 times sales and 65.4 times EV/EBITDA. Insiders sold 1.02 million shares worth $217.6 million in 37 sales over the last 180 days, 27 of them planned, and bought no shares.
- The next earnings report, for fiscal Q2 2027, is estimated for December 1, 2026 and is not confirmed. Polymarket odds give 81.5% to no change in Fed rates at the October 2026 meeting and 17.5% to a 25 bp increase, with September CPI due October 14.
Credo Technology sells high-speed connectivity chips, copper active electrical cables and optical DSPs that link GPUs, switches and memory inside AI and cloud data centers. Fiscal 2026 (ended May 2, 2026) revenue was $1.34 billion, up from $436.8 million a year earlier, and most of the increase came from hyperscale AEC shipments. Revenue for the first quarter of fiscal 2027 was $479.0 million, up 114.7% from a year earlier, and management guided second-quarter revenue to $525 million to $535 million. The stock trades on Nasdaq under CRDO.
How it makes money
Credo sells a small number of high-volume products to large AI and cloud data-center customers. Its main product is the ZeroFlap active electrical cable, a copper link that carries data between servers and switches, and it also sells optical DSP chips for transceivers, PCIe retimers, SerDes chiplets and IP licences. In fiscal 2026 three customers accounted for 33%, 32% and 19% of revenue, and 58% of revenue came from customers in North America.
Last 12 monthsChart & venues →
Valuation & fundamentalsFull financials →
TTM through 2026-08-01 from SEC filings (some quarters derived from annual and year-to-date figures). Ratios use our pooled 24/7 price. Quarterly statements →
Biggest businessesAll products & projects →
ZeroFlap active electrical cables (AEC)
Hyperscale ramps drove almost all of fiscal 2026 growth.
Optical DSPs and ZeroFlap optical transceivers
Shipping across several DSP generations, from 50G to 200G per lane.
Bluebird 1.6T optical DSP
Introduced in September 2025 for 800G and 1.6T optical modules.
SerDes IP and chiplets
Sold as licensed SerDes intellectual property and as chiplets. No separate revenue is disclosed.
Latest newsAll news →
Credo stock sinks after first-quarter report as gross margin dips and valuation weighs
Credo shares fell sharply in the week after the fiscal first-quarter report, which beat estimates on revenue and adjusted EPS.
Credo fiscal Q1 2027 revenue rises 115% to $479 million; Q2 guided to $525-535 million
Credo reported first-quarter fiscal 2027 revenue of $479.0 million, up 114.7% from a year earlier and 9.6% from the prior quarter.
Credo's Toucan Gen6 PCIe retimer passes PCI-SIG 6.x compliance at 64 GT/s
Credo said its Toucan Gen6x16 PCIe retimer passed PCI-SIG 6.x retimer compliance testing at 64.0 GT/s during the PCI-SIG Compliance Workshop that ended July 31, 2026.
Credo fiscal 2026 revenue tops $1.3 billion; Q1 fiscal 2027 guided to $465-475 million
Credo reported fiscal fourth-quarter revenue of $437.0 million, up 157% from a year earlier, and full-year fiscal 2026 revenue of about $1.3 billion, more than triple the prior year.
Credo shares fall in after-hours trading despite fiscal Q4 beat
Credo shares fell about 13.7% in after-hours trading on June 1, 2026, to $195.32, after the company reported a fourth-quarter beat.
Credo grants CEO Bill Brennan a special performance award of 1.44 million restricted shares
Credo's board approved a one-time special performance-based restricted stock unit award for CEO Bill Brennan on May 28, 2026, disclosed in a June 1 filing.
Products & businesses
ZeroFlap active electrical cables (AEC)
Hyperscale ramps drove almost all of fiscal 2026 growth.
Optical DSPs and ZeroFlap optical transceivers
Shipping across several DSP generations, from 50G to 200G per lane.
Bluebird 1.6T optical DSP
Introduced in September 2025 for 800G and 1.6T optical modules.
SerDes IP and chiplets
Sold as licensed SerDes intellectual property and as chiplets. No separate revenue is disclosed.
PCIe retimers (Toucan)
Listed as an active product family in the fiscal 2026 annual report.
Active LED cables (microLED)
Listed as part of the company's microLED solutions. No separate revenue is disclosed.
PILOT diagnostics platform
Listed as a product in the fiscal 2026 annual report. No revenue is disclosed.
What it's building next
Segments
| Segment | Revenue | Share | |
|---|---|---|---|
| AEC and IC products The company's revenue primarily comes from shipments of active electrical cables (AEC) and integrated circuits (ICs). The growth in fiscal 2026 came from AEC ramps at hyperscale data-center customers, which accounted for more than 99% of the revenue increase. | $1.34B | — |
Fiscal FY2026 · from the annual report
Valuation & fundamentals
TTM through 2026-08-01 from SEC filings (some quarters derived from annual and year-to-date figures). Ratios use our pooled 24/7 price.
Financial statements
| Metric | TTM | Q1 FY2027 2026-08-01 | Q4 FY2026 2026-05-02 | Q3 FY2026 2026-01-31 | Q2 FY2026 2025-11-01 | Q1 FY2026 2025-08-02 | Q4 FY2025 2025-05-03 | Q3 FY2025 2025-02-01 | Q2 FY2025 2024-11-02 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.59B | $479.0M +115% | $437.0Md +157% | $407.0M +201% | $268.0M +272% | $223.1M +274% | $170.0Md +180% | $135.0M +154% | $72.0M +64% |
| Gross profit | $1.07B | $309.1M +106% | $298.1Md +161% | $278.9M +225% | $181.0M +298% | $150.4M +303% | $114.2Md +186% | $85.9M +164% | $45.5M +74% |
| Operating income | $505.0M | $120.7M +99% | $155.8Md +361% | $149.6M +471% | $78.8M | $60.7M | $33.8Md | $26.2M | −$8.4M |
| Net income | $538.3M | $129.4M +104% | $169.1Md +362% | $157.1M +435% | $82.6M | $63.4M | $36.6Md | $29.4M +6760% | −$4.2M |
| EPS (diluted) | $2.82 | $0.67 +97% | $0.89d +345% | $0.82 +413% | $0.44 | $0.34 | $0.20d | $0.16 | $-0.03 |
| Operating cash flow | $500.4M | $90.2M +67% | $182.2Md +215% | $166.2Md +3846% | $61.7Md +500% | $54.2M | $57.8Md +1291% | $4.2Md | $10.3Md +105% |
| Capital expenditure | $61.8M | $7.3M +158% | $4.8Md +31% | $26.5Md +477% | $23.2Md +6% | $2.8M -52% | $3.7Md +14% | $4.6Md -10% | $21.9Md +973% |
| Share buybacks | — | — | — | — | — | — | — | — | — |
| Cash & equivalents | $466.9M | $466.9M | $1.16B | $1.22B | $567.6M | $219.6M | $236.3M | $299.2M | $239.2M |
| Shares outstanding | 187.8M | 187.8M | 185.4M | 184.2M | 178.5M | 172.9M | 171.2M | 169.7M | 167.2M |
| Metric | FY2026 2026-05-02 | FY2025 2025-05-03 | FY2024 2024-04-27 | FY2023 2023-04-29 | FY2022 2022-04-30 |
|---|---|---|---|---|---|
| Revenue | $1.34B +206% | $436.8M +126% | $193.0M +5% | $184.2M +73% | $106.5M |
| Cost of revenue | $426.8M +177% | $153.9M +109% | $73.5M -6% | $78.0M +84% | $42.5M |
| Gross profit | $908.3M +221% | $282.9M +137% | $119.4M +12% | $106.2M +66% | $64.0M |
| Research & development | $279.4M +90% | $146.9M +53% | $96.3M +25% | $76.8M +60% | $47.9M |
| Operating income | $445.0M +1099% | $37.1M | −$37.1M | −$21.2M | −$22.0M |
| EBIT | $445.0M +1099% | $37.1M | −$37.1M | −$21.2M | −$22.0M |
| Depreciation & amortization | $34.6M +58% | $21.9M +59% | $13.8M +45% | $9.5M +98% | $4.8M |
| Income tax | $3.2M +17% | $2.7M -52% | $5.6M | −$1.4M | −$37.0K |
| Net income | $472.3M +805% | $52.2M | −$28.4M | −$16.5M | −$22.2M |
| EPS (diluted) | $2.51 +766% | $0.29 | $-0.18 | $-0.11 | $-0.25 |
| Diluted shares (weighted) | 188.2M | 181.2M | 155.1M | 146.6M | 88.4M |
| Operating cash flow | $464.3M +613% | $65.1M +99% | $32.7M | −$24.6M | −$30.8M |
| Capital expenditure | $57.3M +59% | $36.1M +130% | $15.7M -28% | $21.7M +24% | $17.6M |
| Share buybacks | — | — | — | $0 | $0 |
| Cash & equivalents | $1.16B | $236.3M | $66.9M | $108.6M | $259.3M |
| Total assets | $2.30B | $809.3M | $601.9M | $397.3M | $375.7M |
| Total liabilities | $232.0M | $127.7M | $61.7M | $49.7M | $41.5M |
| Shareholders' equity | $2.06B | $681.6M | $540.2M | $347.6M | $334.2M |
| Shares outstanding | 185.4M | 171.2M | 164.3M | 148.7M | 144.8M |
From XBRL data in SEC filings. Small figures under each value: change vs the same period a year earlier. d = derived (e.g. Q4 = full year − first nine months).
NewsFull archive →
Credo stock sinks after first-quarter report as gross margin dips and valuation weighs
Credo shares fell sharply in the week after the fiscal first-quarter report, which beat estimates on revenue and adjusted EPS.
Credo fiscal Q1 2027 revenue rises 115% to $479 million; Q2 guided to $525-535 million
Credo reported first-quarter fiscal 2027 revenue of $479.0 million, up 114.7% from a year earlier and 9.6% from the prior quarter.
Credo's Toucan Gen6 PCIe retimer passes PCI-SIG 6.x compliance at 64 GT/s
Credo said its Toucan Gen6x16 PCIe retimer passed PCI-SIG 6.x retimer compliance testing at 64.0 GT/s during the PCI-SIG Compliance Workshop that ended July 31, 2026.
Credo fiscal 2026 revenue tops $1.3 billion; Q1 fiscal 2027 guided to $465-475 million
Credo reported fiscal fourth-quarter revenue of $437.0 million, up 157% from a year earlier, and full-year fiscal 2026 revenue of about $1.3 billion, more than triple the prior year.
Credo shares fall in after-hours trading despite fiscal Q4 beat
Credo shares fell about 13.7% in after-hours trading on June 1, 2026, to $195.32, after the company reported a fourth-quarter beat.
Credo grants CEO Bill Brennan a special performance award of 1.44 million restricted shares
Credo's board approved a one-time special performance-based restricted stock unit award for CEO Bill Brennan on May 28, 2026, disclosed in a June 1 filing.
Credo agrees to buy silicon photonics chipmaker DustPhotonics for $750 million cash plus shares
Credo agreed to acquire DustPhotonics, an Israeli silicon photonics developer, for $750 million in cash and about 0.92 million Credo shares upfront.
Credo starts shipping 800G ZeroFlap optical transceivers for AI networks
Credo announced general availability of its 800G 2 x DR4 ZeroFlap optical transceiver, aimed at link flaps in AI clusters.
Credo fiscal Q3 revenue rises 201% to $407 million; Q4 guided to $425-435 million
Credo reported fiscal third-quarter revenue of $407.0 million, up 51.9% from the prior quarter and 201.5% from a year earlier, with non-GAAP gross margin of 68.6%.
Credo acquires CoMira Solutions for link-layer, error-correction and security IP
Credo said it has acquired CoMira Solutions, a high-speed connectivity IP company, to add link-layer, error-correction and security semiconductor IP.
Credo's Toucan PCIe retimer earns PCI-SIG compliance at 32 GT/s
Credo said its Toucan PCIe retimer passed PCI-SIG compliance testing at 32.0 GT/s, the PCIe 6.0 speed.
Credo pre-announces fiscal Q3 revenue above range and sets a higher Q4 outlook
Credo said preliminary, unaudited revenue for the fiscal third quarter ended January 31, 2026 would be between $404 million and $408 million, well above its earlier $335 million to $345 million range.
Credo and 3M sign patent license agreement covering active electrical cable patents
Credo announced a patent license and mutual covenant agreement with 3M that covers Credo's active electrical cable patents.
SEC filings
| Oct 13, 26 | 144 | Form 144: Notice of proposed insider sale | sec.gov ↗ |
| Oct 13, 26 | 144 | Form 144: Notice of proposed insider sale | sec.gov ↗ |
| Oct 9, 26 | 4 | Form 4: Lam Yat Tung (Chief Operating Officer, Director) — gift 400,000 sh | sec.gov ↗ |
| Oct 8, 26 | 144 | Form 144: Notice of proposed insider sale | sec.gov ↗ |
| Oct 7, 26 | 4 | Form 4: Lam Yat Tung (Chief Operating Officer, Director) — tax withholding 3,180 sh | sec.gov ↗ |
| Oct 7, 26 | 4 | Form 4: Cheng Chi Fung (Chief Technology Officer, Director) — tax withholding 2,460 sh, open-market sale 27,500 sh | sec.gov ↗ |
| Oct 6, 26 | 4 | Form 4: Brennan William Joseph (Pres & Chief Executive Officer, Director) — tax withholding 12,298 sh | sec.gov ↗ |
| Oct 6, 26 | 4 | Form 4: Fleming Daniel W. (Chief Financial Officer) — tax withholding 4,920 sh | sec.gov ↗ |
| Oct 5, 26 | 4 | Form 4: Laufman James (Chief Legal Officer, Secretary) — open-market sale 5,000 sh | sec.gov ↗ |
| Oct 2, 26 | 4 | Form 4: Lam Yat Tung (Chief Operating Officer, Director) — gift 150,000 sh, open-market sale 50,000 sh, tax withholding 3,180 sh | sec.gov ↗ |
| Oct 1, 26 | 4 | Form 4: Cheng Chi Fung (Chief Technology Officer, Director) — open-market sale 27,500 sh | sec.gov ↗ |
| Oct 1, 26 | 144 | Form 144: Notice of proposed insider sale | sec.gov ↗ |
| Sep 29, 26 | 4 | Form 4: Lam Yat Tung (Chief Operating Officer, Director) — open-market sale 100,000 sh, gift 350,000 sh | sec.gov ↗ |
| Sep 25, 26 | 4 | Form 4: Cheng Chi Fung (Chief Technology Officer, Director) — open-market sale 27,500 sh | sec.gov ↗ |
| Sep 23, 26 | 4 | Form 4: Laufman James (Chief Legal Officer, Secretary) — open-market sale 5,000 sh | sec.gov ↗ |
| Sep 21, 26 | 4 | Form 4: Cheng Chi Fung (Chief Technology Officer, Director) — open-market sale 27,500 sh | sec.gov ↗ |
| Sep 21, 26 | 144 | Form 144: Notice of proposed insider sale | sec.gov ↗ |
| Sep 16, 26 | 4 | Form 4: Brennan William Joseph (Pres & Chief Executive Officer, Director) — open-market sale 16,672 sh | sec.gov ↗ |
| Sep 15, 26 | 4 | Form 4: Cheng Chi Fung (Chief Technology Officer, Director) — open-market sale 27,500 sh | sec.gov ↗ |
| Sep 14, 26 | 144 | Form 144: Notice of proposed insider sale | sec.gov ↗ |
| Sep 9, 26 | 4 | Form 4: Cheng Chi Fung (Chief Technology Officer, Director) — open-market sale 3,790 sh | sec.gov ↗ |
| Sep 4, 26 | 144 | Form 144: Notice of proposed insider sale | sec.gov ↗ |
| Sep 2, 26 | S-8 | S-8: Employee plan share registration | sec.gov ↗ |
| Sep 2, 26 | 10-Q | 10-Q: Quarterly report for the period ended Aug 1, 2026 | sec.gov ↗ |
| Sep 1, 26 | 8-K | 8-K: Results of Operations (Item 2.02) | sec.gov ↗ |
Insider trades, 12 months
| Date | Insider | Type | Shares | Price | Value |
|---|---|---|---|---|---|
| 2026-10-06 | Cheng Chi Fung Chief Technology Officer, Director | Sale 10b5-1 plan | 27.5K | $221.48 | $6.1M |
| 2026-10-01 | Lam Yat Tung Chief Operating Officer, Director | Sale 10b5-1 plan | 50.0K | $205.22 | $10.3M |
| 2026-10-01 | Laufman James Chief Legal Officer, Secretary | Sale | 5.0K | $205.00 | $1.0M |
| 2026-09-29 | Cheng Chi Fung Chief Technology Officer, Director | Sale 10b5-1 plan | 27.5K | $193.93 | $5.3M |
| 2026-09-25 | Lam Yat Tung Chief Operating Officer, Director | Sale 10b5-1 plan | 100.0K | $206.29 | $20.6M |
| 2026-09-23 | Cheng Chi Fung Chief Technology Officer, Director | Sale 10b5-1 plan | 27.5K | $193.12 | $5.3M |
| 2026-09-21 | Laufman James Chief Legal Officer, Secretary | Sale | 5.0K | $185.00 | $925.0K |
| 2026-09-17 | Cheng Chi Fung Chief Technology Officer, Director | Sale 10b5-1 plan | 27.5K | $166.38 | $4.6M |
| 2026-09-14 | Brennan William Joseph Pres & Chief Executive Officer, Director | Sale 10b5-1 plan | 16.7K | $151.88 | $2.5M |
| 2026-09-11 | Cheng Chi Fung Chief Technology Officer, Director | Sale 10b5-1 plan | 27.5K | $162.73 | $4.5M |
| 2026-09-04 | Cheng Chi Fung Chief Technology Officer, Director | Sale | 3.8K | $170.00 | $644.3K |
| 2026-07-31 | Cheng Chi Fung Chief Technology Officer, Director | Sale 10b5-1 plan | 27.5K | $209.53 | $5.8M |
| 2026-07-31 | Lam Yat Tung Chief Operating Officer, Director | Sale 10b5-1 plan | 105.4K | $213.17 | $22.5M |
| 2026-07-27 | Cheng Chi Fung Chief Technology Officer, Director | Sale 10b5-1 plan | 27.5K | $205.54 | $5.7M |
| 2026-07-21 | Cheng Chi Fung Chief Technology Officer, Director | Sale 10b5-1 plan | 27.5K | $222.34 | $6.1M |
| 2026-07-15 | Lam Yat Tung Chief Operating Officer, Director | Sale 10b5-1 plan | 56.0K | $225.44 | $12.6M |
| 2026-07-15 | Lam Yat Tung Chief Operating Officer, Director | Sale 10b5-1 plan | 50.0K | $225.45 | $11.3M |
| 2026-07-14 | Cheng Chi Fung Chief Technology Officer, Director | Sale 10b5-1 plan | 27.5K | $240.21 | $6.6M |
| 2026-07-08 | Cheng Chi Fung Chief Technology Officer, Director | Sale 10b5-1 plan | 3.8K | $258.71 | $980.5K |
| 2026-07-08 | Fleming Daniel W. Chief Financial Officer | Sale 10b5-1 plan | 7.6K | $245.88 | $1.9M |
| 2026-07-07 | Cheng Chi Fung Chief Technology Officer, Director | Sale 10b5-1 plan | 27.5K | $243.06 | $6.7M |
| 2026-07-01 | HOSEIN CLYDE Director | Sale | 3.5K | $262.32 | $905.3K |
| 2026-06-30 | Cheng Chi Fung Chief Technology Officer, Director | Sale 10b5-1 plan | 27.5K | $269.84 | $7.4M |
| 2026-06-23 | Cheng Chi Fung Chief Technology Officer, Director | Sale 10b5-1 plan | 27.5K | $270.94 | $7.5M |
| 2026-06-16 | Cheng Chi Fung Chief Technology Officer, Director | Sale 10b5-1 plan | 27.5K | $246.69 | $6.8M |