Credo Q1 FY27 10-Q: Revenue +114.7% to $479M, DustPhotonics Deal Adds $896M Goodwill
CRDO sits 90% above its 52-week low of $86.485 on elevated volume (3.9× avg).
Summary
Credo's Q1 FY27 10-Q confirms 114.7% revenue growth to $479M and details the $1.25B DustPhotonics acquisition, while CEO Brennan's new 10b5-1 plan allows selling up to 440,000 shares starting September 14.
Key Events · Earnings and Guidance · CRDO
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Q1 FY27 Revenue +114.7% to $479M
Revenue reached $479.0 million versus $223.1 million a year ago, driven by AEC product shipments to hyperscale customers. Net income was $129.4 million, or $0.67 diluted EPS.
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DustPhotonics Acquisition Adds $896M Goodwill
The $1.25 billion DustPhotonics deal closed May 28, 2026, adding $895.8 million in goodwill and $361.7 million in intangible assets. Cash fell to $466.9 million from $1.16 billion after the $735.6 million net cash payment.
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CEO Adopts 10b5-1 Plan for 440,000 Shares
William Brennan adopted a Rule 10b5-1 plan on June 10, 2026, allowing sale of up to 440,000 shares held by The Brennan Family Trust between September 14, 2026 and September 14, 2027.
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Customer Concentration Remains High
Customer A represented 43% of Q1 revenue and 57% of accounts receivable; Customer B represented 28% of revenue. Top two customers account for 71% of revenue.
Analysis · CRDO · Manufacturing
Credo's first-quarter results confirm the explosive growth pre-announced yesterday, with revenue up 114.7% to $479.0 million and net income of $129.4 million. The 10-Q adds full financial detail, including the $1.25 billion DustPhotonics acquisition that closed May 28, 2026 — a deal that added $895.8 million in goodwill and $361.7 million in intangible assets, transforming the balance sheet. Cash dropped from $1.16 billion to $466.9 million as the company paid $735.6 million net for DustPhotonics, though management states existing liquidity is sufficient for at least 12 months. Separately, CEO William Brennan adopted a 10b5-1 plan to sell up to 440,000 shares starting September 14, 2026 — a notable overhang given the stock's recent run.
How filings like this one have moved
In the 30 days to Sep 12, 2026, 29.9% of the 1939 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.15%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, CRDO was trading at $164.75 on NASDAQ in the Manufacturing sector, with a market capitalization of approximately $31.1B. The 52-week trading range was $86.49 to $308.67. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.