CRDO Q1 2026 Earnings
Reported Sep 3, 2025 at 4:10 PM ET · SEC Source
Q1 26 EPS
$0.52
BEAT +44.20%
Est. $0.36
Q1 26 Revenue
$223.1M
BEAT +17.02%
Est. $190.6M
vs S&P Since Q1 26
+19.9%
BEATING MARKET
CRDO +30.9% vs S&P +11.0%
Market Reaction
Did CRDO Beat Earnings? Q1 2026 Results
Credo Technology Group delivered a blowout fiscal first quarter for 2026, with revenue of $223.07 million rocketing 273.6% year over year and handily beating the $190.63 million consensus estimate by 17.02%, as deepening partnerships with hyperscaler… Read more Credo Technology Group delivered a blowout fiscal first quarter for 2026, with revenue of $223.07 million rocketing 273.6% year over year and handily beating the $190.63 million consensus estimate by 17.02%, as deepening partnerships with hyperscalers fueled insatiable demand for the company's high-speed, energy-efficient connectivity solutions built for AI-driven data centers. Non-GAAP diluted EPS of $0.52 topped the $0.36 consensus by 44.20%, while GAAP operating income swung to $60.74 million from a loss of $14.45 million a year earlier, a transformation that underscores how rapidly Credo's operating leverage is compounding. Gross margins expanded meaningfully to 67.4% on a GAAP basis, reflecting a favorable product mix that investors had been watching closely heading into the print. The company's momentum shows little sign of slowing, with Q2 revenue guided to a range of $230 million to $240 million, suggesting continued sequential growth as Credo diversifies its customer base across protocols and applications.
Key Takeaways
- • 274% year-over-year revenue growth driven by deep strategic partnerships with hyperscalers and key customers
- • Increasing market demand for reliable and power-efficient connectivity solutions for AI-driven applications
- • GAAP gross margin expanded to 67.4% from 62.4% year over year
- • Non-GAAP operating margin expanded to 43.1% from 3.7% year over year
CRDO YoY Financials
Q1 2026 vs Q1 2025, source: SEC Filings
CRDO Revenue by Segment
With YoY comparisons, source: SEC Filings
“During the first quarter of fiscal 2026, Credo continued a strong growth trajectory. First quarter revenue increased 31% sequentially, and 274% year over year, to $223.1 million. The Company's growth has been driven by deep, strategic partnerships with hyperscalers and key customers. Given increasing market demand for reliable and power-efficient connectivity solutions, we expect continued revenue growth and diversification in terms of customers, protocols and applications.”
— Bill Brennan, Q1 2026 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% |