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Credo reports Q1 FY2027: revenue $479.0M, up 114.7% year over year
Credo Technology reported first-quarter fiscal 2027 results for the quarter ended August 1, 2026: revenue of $479.0 million, up 9.6% quarter over quarter and 114.7% year over year; GAAP gross margin of 64.5% and non-GAAP gross margin of 68.0%; GAAP net income of $129.4 million and non-GAAP net income of $236.3 million; GAAP diluted EPS of $0.67 and non-GAAP diluted EPS of $1.20; and ending cash and short-term investments of $764.3 million. For Q2 fiscal 2027 the company guided revenue to $525-535 million with non-GAAP gross margin of 67.0-69.0%, a range whose midpoint sits at the Q1 level rather than above it. Figures are quoted from the company's own 8-K Exhibit 99.1.
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Exhibit 99.1   Credo Technology Group Holding Ltd Reports First Quarter of Fiscal Year 2027 Financial Results San Jose, Calif. (September 1, 2026) - Credo Technology Group Holding Ltd (Credo) (Nasdaq: CRDO), an innovator in providing connectivity at scale through fast, reliable, and energy-efficient system solutions, today announced financial results for the first quarter of fiscal year 2027, ended August 1, 2026. First Quarter of Fiscal Year 2027 Financial Highlights • Revenue of $479.0 million, grew by 9.6% quarter over quarter and 114.7% year over year • GAAP gross…