Filing Flows › Credo Technology Group Holding (CRDO) › Q1 FY26
Credo Technology Group Holding (CRDO) Q1 FY26 earnings results (first quarter fiscal 2026)
10-Q filed Sep 4, 2025
Credo Technology Group Holding (CRDO) reported revenue of $223M for the first quarter fiscal 2026 (Q1 FY26), +274% from a year earlier and +31% from the quarter before. Operating margin was 27.2%, net earnings $63.4M (28.4% of revenue).
Credo Technology Group Holding, Q1 FY26: revenue $223M (+274% year over year), operating margin 27.2%, net earnings $63.4M, operating cash flow $54.2M. The chart follows the revenue to costs, profit and cash.
| Q1 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $223M | +31% | +274% |
| Gross profit | $150M | +32% | +303% |
| Operating profit | $60.7M | +80% | — |
| Net earnings | $63.4M | +73% | — |
| Operating cash flow | $54.2M | -6% | — |
| Free cash flow | $51.3M | -5% | — |
What changed
Revenue was $223.1M in Q1 FY26, up 274% year over year and up 31% from the previous quarter. Product sales revenue was the largest line at 97% of revenue. Product sales revenue added $159.7M year over year (up 279%), 98% of the total change.
Gross margin was 67.4%, up 5.0 points from a year earlier. Operating profit was $60.7M, a 27.2% margin (up 51.4 points year over year). Operating expenses grew 73% against revenue growth of 274%. The fastest-growing cost line was SG&A (+74%). Net earnings were $63.4M. The effective tax rate was 2.0%.
Operating cash flow was $54.2M, 85% of net earnings. Non-cash charges added back $5.5M of depreciation and amortization and $35.5M of share-based compensation. Working capital and other items used $50.1M. Capital expenditures of $2.8M left free cash flow of $51.3M.
Questions
What was Credo Technology Group Holding's revenue in the first quarter fiscal 2026?
Credo Technology Group Holding (CRDO) reported revenue of $223M for the first quarter fiscal 2026 (Q1 FY26), +274% from a year earlier and +31% from the quarter before.
Was Credo Technology Group Holding profitable in the first quarter fiscal 2026?
Operating profit was $60.7M (27.2% of revenue) and net earnings $63.4M.