Q2 25 EPS
$0.07
BEAT +37.25%
Est. $0.05
Q2 25 Revenue
$72.0M
BEAT +7.82%
Est. $66.8M
vs S&P Since Q2 25
+248.1%
BEATING MARKET
CRDO +270.1% vs S&P +22.0%
Market Reaction
Did CRDO Beat Earnings? Q2 2025 Results
Credo Technology Group delivered a notably strong fiscal second quarter, with non-GAAP earnings of $0.07 per diluted share beating the $0.05 consensus estimate by 37.25% and revenue of $72.03 million topping expectations by 7.82% while climbing 63.6%… Read more Credo Technology Group delivered a notably strong fiscal second quarter, with non-GAAP earnings of $0.07 per diluted share beating the $0.05 consensus estimate by 37.25% and revenue of $72.03 million topping expectations by 7.82% while climbing 63.6% year over year. The primary engine behind the outperformance was accelerating AI-related demand for high-speed connectivity solutions, which drove product sales to $64.44 million, up sharply from $34.25 million in the year-ago period. GAAP gross margin expanded to 63.2% from 59.3% a year prior, reflecting favorable product mix and improved scale, while non-GAAP operating income swung to $8.26 million from a loss of $731,000 in the prior-year quarter. CEO Bill Brennan noted demand exceeded initial projections as AI infrastructure deployments deepened customer relationships across all three main product lines. Looking ahead, Credo guided fiscal Q3 2025 revenue to $115.00 million to $125.00 million, implying roughly 60-74% sequential growth, a forward outlook that signals the company's anticipated demand inflection has firmly arrived.
Key Takeaways
- • AI deployments driving greater demand than initially projected
- • Deepening customer relationships
- • Revenue inflection point in second half of fiscal 2025 as anticipated
- • Strong growth across all three main product lines (ICs, AECs, SerDes Chiplets)
- • Total product revenue of $69.1 million, up significantly year over year
CRDO YoY Financials
Q2 2025 vs Q2 2024, source: SEC Filings
CRDO Revenue by Segment
With YoY comparisons, source: SEC Filings
“In the fiscal second quarter ended November 2, 2024 Credo generated record revenue of $72.0 million, up 21% sequentially and 64% year over year. The second quarter was our most successful to date across our three main product lines and Credo delivered total product revenue of $69.1 million. For the past few quarters, we have anticipated an inflection point in our revenues during the second half of fiscal 2025. I am pleased to share that this turning point has arrived, and we are experiencing even greater demand than initially projected, driven by AI deployments and deepening customer relationships.”
— Bill Brennan, Q2 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
6 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q4 26 BEAT FY | $1.03 | $1.16 | +12.17% | $437.0M | +0.86% |
| FY Full Year | $3.31 | $3.46 | +4.45% | $1.34B | +0.25% |
| 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 | +6.54% |
| 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% |
| Q2 25 BEAT | $0.05 | $0.07 | +37.25% | $72.0M | +7.82% |