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← Credo Technology

Credo Technology — 2026Q3 earnings

reported 2026-09-01

EPS $1.20 vs $1.17 est — beat

next session -20.0% (close 2026-09-01 → 2026-09-02)

Financial flow diagram

A verified financial-flow breakdown is not yet available for this report.

Source

Press release ↗

Summary

Credo's first quarter of fiscal 2027, ended 1 August 2026, was a growth quarter on every stated line: revenue of $479.0 million was up 114.7% year over year, and non-GAAP net income grew faster still. The guidance is where the quarter reads differently — Q2 revenue is guided to $525-535 million, another sequential step up, while non-GAAP gross margin is guided to 67.0-69.0%, a band whose midpoint of 68.0% is exactly the margin just delivered. Growth is being guided without margin expansion. This summary reads the company's own results release; no call transcript was verified for this quarter, so nothing here is attributed to management commentary beyond the quoted release.

Review

From the report

Revenue more than doubled year over year and both EPS lines beat, but the Q2 gross-margin guide brackets the quarter just reported rather than moving above it.

  • Revenue of $479.0 million, up 114.7% year over year and 9.6% sequentially. show quote
    “Revenue of $479.0 million, grew by 9.6% quarter over quarter and 114.7% year over year”
    source ↗
  • Gross margin was 64.5% on a GAAP basis and 68.0% non-GAAP. show quote
    “GAAP gross margin of 64.5% and non-GAAP gross margin of 68.0%”
    source ↗
  • Diluted EPS was $0.67 GAAP and $1.20 non-GAAP. show quote
    “GAAP diluted net income per share of $0.67 and non-GAAP diluted net income per share of $1.20”
    source ↗
  • Net income was $129.4 million GAAP and $236.3 million non-GAAP. show quote
    “GAAP net income of $129.4 million and non-GAAP net income of $236.3 million”
    source ↗
  • Q2 revenue is guided to $525-535 million, a further sequential increase. show quote
    “Revenue is expected to be between $525 million and $535 million”
    source ↗
  • Q2 non-GAAP gross margin is guided to 67.0-69.0% — a band centred on the 68.0% just reported, not above it. show quote
    “non-GAAP gross margin is expected to be between 67.0% and 69.0%”
    source ↗
  • The quarter ended with $764.3 million in cash and short-term investments. show quote
    “Ending cash and short-term investment balance of $764.3 million”
    source ↗

as of 2026-09-01