Credo Q1 FY27: Revenue Up 115% YoY to $479M, Non-GAAP EPS $1.20, Q2 Guide $525M-$535M
CRDO has more than doubled off its 52-week low of $86.485.
Summary
Credo reported Q1 FY27 revenue of $479.0M (+114.7% YoY), non-GAAP EPS of $1.20, and guided Q2 revenue to $525M-$535M. The quarter also included a large acquisition that expanded goodwill and intangibles.
Key Events · Earnings and Guidance · CRDO
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Q1 FY27 Revenue Up 115% YoY
Revenue of $479.0M grew 114.7% year over year and 9.6% sequentially, driven by AI infrastructure demand for high-speed connectivity.
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Non-GAAP EPS of $1.20
Non-GAAP net income was $236.3M ($1.20 per diluted share), up 140% YoY; GAAP net income was $129.4M ($0.67 per diluted share).
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Q2 FY27 Guidance: $525M-$535M
Revenue guidance implies ~10-12% sequential growth; non-GAAP gross margin guided to 67.0%-69.0% and non-GAAP operating expenses to $100M-$105M.
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Large Acquisition Closed in Quarter
Goodwill increased from $92.8M to $986.4M and intangible assets from $29.3M to $378.8M, indicating a significant acquisition completed during Q1 FY27.
Analysis · CRDO · Manufacturing
Another quarter of triple-digit growth underscores the strength of AI-driven connectivity demand. Revenue climbed 114.7% year over year to $479.0 million, while non-GAAP net income reached $236.3 million, or $1.20 per diluted share. Management guided Q2 revenue to $525M-$535M, implying roughly 10-12% sequential growth and continued momentum. The balance sheet reflects a major acquisition closed during the quarter—goodwill jumped from $92.8M to $986.4M and intangible assets from $29.3M to $378.8M—while cash and short-term investments ended at $764.3M. Against a backdrop of heavy insider selling over the past 90 days ($132M net), these results validate the fundamental growth story but also highlight the valuation tension at a $38.8B market cap.
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In the 30 days to Sep 11, 2026, 36.1% of the 1753 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.04%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, CRDO was trading at $192.00 on NASDAQ in the Manufacturing sector, with a market capitalization of approximately $38.8B. The 52-week trading range was $86.49 to $308.67. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.