High-speed connectivity company supplying serializer, retimer, optical, and active electrical cable solutions for AI data centers.
Profile & Fundamentals
Credo Technology (CRDO.NASDAQ) Profile & Fundamentals
Review Credo Technology reported earnings, valuation, balance sheet and ownership, with source tables and separate AI assessments.
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Company and Market Context
Credo Technology: Company Profile & Ownership
Credo Technology Group Holding Ltd provides various high-speed connectivity solutions for optical and electrical Ethernet and PCIe applications in the United States, Taiwan, Mainland China, Hong Kong, and other international markets. The company offers ZeroFlap (ZF) active electrical cables and ZF optical transceivers, OmniConnect memory solutions, and a suite of retimers and DSPs for optical and copper Ethernet and PCIe, as well as integrated circuits, active electrical cables, and SerDes chiplets. It also provides intellectual property (IP) solutions, including SerDes IP licensing. The company offers was founded in 2008 and is headquartered in Grand Cayman, the Cayman Islands.
Company profile record
Credo Technology Group Holding Ltd
Common Stock · Information Technology · Semiconductors
Company
- Company / asset
- Credo Technology Group Holding Ltd
- Security type
- Common Stock
- Sector
- Information Technology
- Industry
- Semiconductors
- HQ
- 🇺🇸 United States
- Head office
- Ugland House, Grand Cayman, Cayman Islands, KY1-1104
Leadership & scale
- Chief executive
- Mr. William J. Brennan
- CEO year born
- 1964
- Full-time employees
- 807
- Fiscal year end
- April
- IPO date
- 2022-01-27
Fundamentals snapshot
- Market Cap
- USD 32.1B
- P/E
- 59.7x
- Revenue (Q3 26)
- USD 479.0M
- Profit (Q3 26)
- USD 129.4M
- Dividend Yield
- --
- Revenue (FY 26)
- USD 1.3B
- Shares in public float
- 170.9M
- Insider ownership
- 9.15%
Reporting & identifiers
- Symbol
- CRDO.NASDAQ
- Listing
- 🇺🇸 United States | Dividend Tax: 0%
- Ticker Currency
- USD
- Income Statement Currency
- USD
- Balance Sheet Currency
- USD
- Cash Flow Currency
- USD
- EPS Currency
- USD
- Contract Type
- SPOT
- ISIN
- KYG254571055
- Asset ID
- equity_bdc81ae4-4612-5b63-88ea-ab3073f47759
Credo Technology: Ownership
Shares Outstanding
Latest: 194.4M | Max: 194.4M | Min: 70.4M
Latest reported ownership snapshot
Float Shares
87.91%
170.9M latest reported shares
Insider Ownership
9.15%
Latest reported insider stake
Short Float
0.06%
Latest reported short interest / float
Top Holders
Source tablesView ownership tables
Shares Outstanding
Annual reported shares outstanding; up to 10 reporting dates.
Scroll the table to see every column.
| Reporting date | Shares outstanding |
|---|---|
| 2020-01-01 | 70,386,800 |
| 2021-01-01 | 144,947,100 |
| 2022-01-01 | 146,012,000 |
| 2023-01-01 | 150,232,000 |
| 2024-01-01 | 166,487,000 |
| 2025-01-01 | 187,659,000 |
| 2026-01-01 | 194,378,000 |
Top Holders
Available reported ownership records.
Scroll the table to see every column.
| Holder | Shares | Ownership | Reported date |
|---|---|---|---|
| BlackRock Inc | 17,759,842 | 9.45% | 2026-06-30 |
| Vanguard Portfolio Management, LLC | 8,222,867 | 4.38% | 2026-06-30 |
| Vanguard Capital Management, LLC | 7,440,285 | 3.96% | 2026-06-30 |
| Point72 Asset Management, L.P. | 6,153,132 | 3.27% | 2026-06-30 |
| Vanguard MStar Total Stk Mkt Idx Invest | 5,370,018 | 2.86% | 2026-09-30 |
| State Street Corp | 4,221,110 | 2.25% | 2026-06-30 |
| iShares Semiconductor ETF | 3,998,971 | 2.13% | 2026-09-30 |
| Vanguard Small Cap Index | 3,806,940 | 2.03% | 2026-09-30 |
| Geode Capital Management, LLC | 3,226,106 | 1.72% | 2026-06-30 |
| T. Rowe Price Associates, Inc. | 2,659,580 | 1.42% | 2026-06-30 |
| Jennison Associates LLC | 2,655,290 | 1.41% | 2026-06-30 |
| SRS Investment Management, LLC | 2,573,808 | 1.37% | 2026-06-30 |
| Bank of America Corp | 2,182,764 | 1.16% | 2026-06-30 |
| Vanguard MStar Small Cap Growth Indx Inv | 2,118,491 | 1.13% | 2026-09-30 |
| Millennium Management LLC | 1,997,808 | 1.06% | 2026-06-30 |
Credo Technology: Earnings, Profitability & Valuation
Latest Financials Filed On
Earnings & Revenue
Earnings and Revenue Trajectory
AI Review
The company's income statement exhibits an explosive operational turnaround driven by insatiable AI cluster demand. In fiscal 2026, revenue surged 206% to $1.34 billion, transforming prior operating losses into $472 million of GAAP net profit, with first-quarter fiscal 2027 revenue advancing another 115% year-over-year to $479 million. However, headline figures conceal a notable divergence between GAAP and non-GAAP results. Non-GAAP net income reached $236 million in the latest quarter, while reported GAAP profit was $129 million due to intangible amortization and equity compensation. Growth remains exceptionally robust, but cash conversion depends on successfully navigating customer procurement schedules.
The company's income statement exhibits an explosive operational turnaround driven by insatiable AI cluster demand. In fiscal 2026, revenue surged 206% to $1.34 billion, transforming prior operating losses into $472 million of GAAP net profit, with first-quarter fiscal 2027 revenue advancing another 115% year-over-year to $479 million. However, headline figures conceal a notable divergence between GAAP and non-GAAP results. Non-GAAP net income reached $236 million in the latest quarter, while reported GAAP profit was $129 million due to intangible amortization and equity compensation. Growth remains exceptionally robust, but cash conversion depends on successfully navigating customer procurement schedules.
Revenue, Net Income, and Free Cash Flow
Latest: USD 1.3B | Max: USD 1.3B | Min: USD -48.4M
Valuation
P/E Ratio (TTM)iPublished valuation snapshots use the earnings basis recorded with each observation. Source tables retain that basis.
Latest: 72x
Profitability & Margins
Margins and Operating Efficiency
AI Review
Profitability expanded dramatically as manufacturing volumes scaled, with fiscal 2026 gross margin reaching 68.0% and operating margin jumping from 8.7% to 33.3%. This surge demonstrates powerful operational leverage as high-margin mixed-signal silicon diluted fixed engineering and corporate overhead expenses. Recent quarterly reporting shows GAAP gross margins dipping toward 64.5% primarily due to acquisition-related amortization and pre-production costs. However, non-GAAP gross margins remained steady at 68.0%. As higher-cost optical modules expand within the sales mix, steady-state gross margins are expected to stabilize near the mid-60% range.
Profitability expanded dramatically as manufacturing volumes scaled, with fiscal 2026 gross margin reaching 68.0% and operating margin jumping from 8.7% to 33.3%. This surge demonstrates powerful operational leverage as high-margin mixed-signal silicon diluted fixed engineering and corporate overhead expenses. Recent quarterly reporting shows GAAP gross margins dipping toward 64.5% primarily due to acquisition-related amortization and pre-production costs. However, non-GAAP gross margins remained steady at 68.0%. As higher-cost optical modules expand within the sales mix, steady-state gross margins are expected to stabilize near the mid-60% range.
Profitability Margins
Latest: 68.0% | Max: 85.6% | Min: -46.9%
Latest Profitability Ratios as of 2026-04-30
Gross Margin
68.0%
Gross profit / revenue
Operating Margin
33.3%
Operating income / revenue
Net Margin
35.4%
Net income / revenue
FCF Margin
30.5%
Free cash flow / revenue
Source tablesView earnings, profitability & valuation tables
Revenue, Net Income, and Free Cash Flow
Annual reported results, using the source statement's recorded USD conversion. Up to 10 reporting periods; missing values are not estimated.
Scroll the table to see every column.
| Period end | Revenue (USD) | Net income (USD) | Free cash flow (USD) |
|---|---|---|---|
| 2020-04-30 | 53,835,000 | 1,329,000 | -19,085,000 |
| 2021-04-30 | 58,697,000 | -27,511,000 | -48,417,000 |
| 2022-04-30 | 106,477,000 | -22,176,000 | -48,412,000 |
| 2023-04-30 | 184,194,000 | -16,547,000 | -46,328,000 |
| 2024-04-30 | 192,970,000 | -28,369,000 | 17,085,000 |
| 2025-04-30 | 436,775,000 | 52,183,000 | 29,022,000 |
| 2026-04-30 | 1,335,116,000 | 472,279,000 | 406,996,000 |
Published P/E Ratio
Published valuation snapshots retain each observation's earnings basis.
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| Period end | P/E (times earnings) | Earnings basis |
|---|---|---|
| 2026-04-30 | 71.6 | Trailing four quarters |
| 2025-04-30 | 154.8 | Trailing four quarters |
Profitability Margins
Matching annual reporting dates. Values are percentages.
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| Period end | Gross margin (%) | Operating margin (%) | Net margin (%) | Free cash flow margin (%) |
|---|---|---|---|---|
| 2020-04-30 | 85.64 | 3.85 | 2.47 | -35.45 |
| 2021-04-30 | 65.21 | -42.99 | -46.87 | -82.49 |
| 2022-04-30 | 60.12 | -20.63 | -20.83 | -45.47 |
| 2023-04-30 | 57.65 | -11.53 | -8.98 | -25.15 |
| 2024-04-30 | 61.89 | -19.2 | -14.7 | 8.85 |
| 2025-04-30 | 64.77 | 8.7 | 11.95 | 6.64 |
| 2026-04-30 | 68.04 | 33.33 | 35.37 | 30.48 |
Public data excerpt created by iPulse AI and published by Future Edge Group FZE. Snapshot retrieved 2026-10-29.
Use is subject to the iPulse AI Terms of Service and applicable source rights. Missing inputs are not estimated. Full access includes the remaining records, research and interactive tools.
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