CRDO Q3 2025 Earnings
Reported Mar 4, 2025 at 4:07 PM ET · SEC Source
Q3 25 EPS
$0.25
BEAT +36.54%
Est. $0.18
Q3 25 Revenue
$135.0M
BEAT +12.17%
Est. $120.4M
vs S&P Since Q3 25
+225.9%
BEATING MARKET
CRDO +249.5% vs S&P +23.6%
Market Reaction
Did CRDO Beat Earnings? Q3 2025 Results
Credo Technology Group delivered a standout third quarter of fiscal 2025, posting non-GAAP earnings of $0.25 per diluted share against a consensus estimate of $0.18, a beat of 36.54%, while revenue of $135.00 million topped expectations by 12.17% and… Read more Credo Technology Group delivered a standout third quarter of fiscal 2025, posting non-GAAP earnings of $0.25 per diluted share against a consensus estimate of $0.18, a beat of 36.54%, while revenue of $135.00 million topped expectations by 12.17% and surged 154.4% year over year. The driving force behind the quarter was a sharp inflection in Credo's Active Electrical Cable product line, which propelled product revenue to $129.37 million and helped expand non-GAAP operating margins to 31.4% from just 4.6% a year earlier. Non-GAAP gross margin held firm at 63.8%, underscoring the scalability of the business model even as the company ramped aggressively. Despite the blowout results, shares fell sharply after the print as investors appeared to have already priced in much of the upside. Looking ahead, management guided Q4 revenue to $155.00 million to $165.00 million, signaling continued sequential momentum as demand for high-speed connectivity solutions across data infrastructure buildouts shows no sign of slowing.
Key Takeaways
- • Record revenue driven by AEC product line inflection
- • 87.4% sequential and 154.4% year-over-year revenue growth
- • Product sales more than tripled year over year to $129.4 million
- • Non-GAAP operating margin expanded to 31.4% from 4.6% year over year
CRDO YoY Financials
Q3 2025 vs Q3 2024, source: SEC Filings
CRDO Revenue by Segment
With YoY comparisons, source: SEC Filings
“During the third quarter ended February 1, 2025 Credo generated revenue of $135.0 million, up 87% sequentially and 154% year over year. We achieved record revenue in the third quarter, driven by our AEC product line, as we experienced the inflection point in our business that we had expected. Going forward, we expect continued growth across our product lines and customer base as market demand for innovative connectivity solutions continues to grow.”
— Bill Brennan, Q3 2025 Earnings Press Release
CRDO Earnings Trends
CRDO vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
CRDO EPS Trend
Earnings per share: estimate vs actual
CRDO Revenue Trend
Quarterly revenue: estimate vs actual
CRDO Quarterly Results
4 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q3 26 BEAT | $0.94 | $1.07 | +13.75% | $407.0M | +5.00% |
| Q1 26 BEAT | $0.36 | $0.52 | +44.20% | $223.1M | +17.02% |
| Q4 25 BEAT FY | $0.27 | $0.35 | +29.63% | $170.0M | — |
| FY Full Year | $0.63 | $0.70 | +10.78% | $436.8M | +2.42% |
| Q3 25 BEAT | $0.18 | $0.25 | +36.54% | $135.0M | +12.17% |