Credo Technology Group

Credo Technology Group (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

+338.6%

BEATING MARKET

CRDO +365.7% vs S&P +27.1%

Market Reaction

Did CRDO Beat Earnings? Q3 2025 Results

Credo Technology Group posted a blowout fiscal third quarter, reporting non-GAAP EPS of $0.25 against a consensus estimate of $0.18, a beat of 36.54%, while revenue of $135.00 million topped estimates of $120.36 million by 12.17% and surged 154.4% ye… Read more Credo Technology Group posted a blowout fiscal third quarter, reporting non-GAAP EPS of $0.25 against a consensus estimate of $0.18, a beat of 36.54%, while revenue of $135.00 million topped estimates of $120.36 million by 12.17% and surged 154.4% year over year. The engine behind those numbers was Credo's Active Electrical Cable product line, which powered product sales to $129.37 million and helped swing the company to GAAP operating income of $26.19 million from an operating loss of $5.91 million in the year-ago period. Non-GAAP gross margin held at 63.8%, and non-GAAP operating margin expanded sharply to 31.4%. Despite the strong print, shares fell sharply in the session following the report, as investors appeared to have already priced in the company's momentum within AI infrastructure buildouts. Looking ahead, management guided Q4 revenue to $155.00 million to $165.00 million, with non-GAAP gross margin expected between 63.0% and 65.0%, signaling continued confidence in accelerating demand for high-bandwidth connectivity solutions.

Key Takeaways

  • Active Electrical Cable (AEC) product line drove record revenue in Q3
  • Inflection point in business as anticipated by management
  • 154% year-over-year revenue growth and 87% sequential growth
  • Non-GAAP operating margin expanded to 31.4% from 4.6% year over year
24/7 Wall St

CRDO YoY Financials

Q3 2025 vs Q3 2024, source: SEC Filings

24/7 Wall St

CRDO Revenue by Segment

With YoY comparisons, source: SEC Filings

Q1 25 Q2 26

“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