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
+60.3%
BEATING MARKET
CRDO +74.5% vs S&P +14.2%
Market Reaction
Did CRDO Beat Earnings? Q1 2026 Results
Credo Technology Group delivered a blowout first fiscal quarter of 2026, posting non-GAAP earnings of $0.52 per diluted share against a consensus estimate of $0.36, a 44.20% beat, while revenue of $223.07 million cleared expectations by 17.02% and ro… Read more Credo Technology Group delivered a blowout first fiscal quarter of 2026, posting non-GAAP earnings of $0.52 per diluted share against a consensus estimate of $0.36, a 44.20% beat, while revenue of $223.07 million cleared expectations by 17.02% and rocketed 273.6% year over year. Shares jumped on the results as investors responded to deepening hyperscaler partnerships and surging demand for power-efficient, high-speed connectivity in AI-driven data centers, which drove product sales to $217.06 million and pushed GAAP gross margin to 67.4%, up sharply from 62.4% a year ago. The company also swung to GAAP net income of $63.40 million, compared to a loss of $9.54 million in the year-ago quarter. Analysts had already been revising estimates upward heading into the print, citing the company's positioning in AI infrastructure connectivity. Looking ahead, Credo guided second-quarter revenue to $230 million to $240 million, signaling continued sequential growth even as gross margin is expected to moderate slightly to a range of 64% to 66% on a non-GAAP basis.
Key Takeaways
- • 274% year-over-year and 31% sequential revenue growth driven by hyperscaler partnerships
- • Strong product sales revenue growth to $217.1 million from $57.3 million year over year
- • GAAP gross margin expansion to 67.4% from 62.4% in the year-ago quarter
- • Non-GAAP operating margin of 43.1%, up from 3.7% a year ago
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
8 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% |
| Q2 26 BEAT | $0.50 | $0.67 | +35.27% | $268.0M | +14.06% |
| Q1 26 BEAT | $0.36 | $0.52 | +44.20% | $223.1M | +17.02% |
| Q4 25 BEAT FY | $0.27 | $0.35 | +27.88% | $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% |
| Q1 25 BEAT | $0.04 | $0.04 | +0.00% | $59.7M | +0.29% |