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Credo Technology Group

CRDO Q3 2026 Earnings

Reported Mar 2, 2026 at 4:09 PM ET · SEC Source

Q3 26 EPS

$1.07

BEAT +13.75%

Est. $0.94

Q3 26 Revenue

$407.0M

BEAT +5.00%

Est. $387.6M

vs S&P Since Q3 26

+70.1%

BEATING MARKET

CRDO +76.0% vs S&P +5.9%

Market Reaction

Did CRDO Beat Earnings? Q3 2026 Results

Credo Technology Group delivered a blowout quarter in fiscal Q3 2026, posting revenue of $407.01 million, up 201.5% year over year, and non-GAAP diluted EPS of $1.07, beating the Wall Street consensus of $0.94 by 13.75% while revenue topped estimates… Read more Credo Technology Group delivered a blowout quarter in fiscal Q3 2026, posting revenue of $407.01 million, up 201.5% year over year, and non-GAAP diluted EPS of $1.07, beating the Wall Street consensus of $0.94 by 13.75% while revenue topped estimates of $387.62 million by 5.00%. The standout driver was surging demand for Active Electrical Cables and integrated circuits serving AI data center infrastructure, which propelled non-GAAP operating margins to 49.6% and lifted non-GAAP net income to $208.79 million. CEO Bill Brennan also flagged three new multi-billion-dollar market opportunities, ZeroFlap optics, Active Line Cards, and OmniConnect memory solutions, signaling Credo's ambition to extend well beyond its AEC stronghold, a strategic pivot underscored by a recent collaboration with AMD-focused AI cloud provider TensorWave. Looking ahead, the company guided fiscal Q4 revenue to $425.00 million–$435.00 million, implying continued sequential growth, though non-GAAP gross margin guidance of 64.0%–66.0% points to some compression as newer product lines ramp.

Key Takeaways

  • • Continued growth in Active Electrical Cables (AECs) and integrated circuits (ICs)
  • • Expanding AI infrastructure demand driving 201.5% year-over-year revenue growth
  • • Non-GAAP operating margin expansion to 49.6%

CRDO Forward Guidance & Outlook

For fiscal Q4 2026 (three months ending May 2, 2026), Credo expects revenue between $425.0 million and $435.0 million. GAAP gross margin is expected between 63.9% and 65.9%, with non-GAAP gross margin between 64.0% and 66.0%. GAAP operating expenses are expected between $125.5 million and $129.5 million, with non-GAAP operating expenses between $76.0 million and $80.0 million.

24/7 Wall St

CRDO YoY Financials

Q3 2026 vs Q3 2025, source: SEC Filings

24/7 Wall St

CRDO Revenue by Segment

With YoY comparisons, source: SEC Filings

Q3 25 Q1 26

“In the third quarter Credo once again delivered record results with revenue of $407.0 million, an increase of more than 50% sequentially and 200% year over year. With continued growth in AECs and ICs and the announcement of three new multi-billion dollar TAM expansions through ZeroFlap optics, ALCs, and OmniConnect, we remain confident in our ability to innovate and grow in the expanding AI infrastructure landscape.”

— Bill Brennan, Q3 2026 Earnings Press Release

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