Filing Flows › Credo Technology Group Holding (CRDO) › Q1 FY27
Credo Technology Group Holding (CRDO) Q1 FY27 earnings results (first quarter fiscal 2027)
10-Q filed Sep 2, 2026
Credo Technology Group Holding (CRDO) reported revenue of $479M for the first quarter fiscal 2027 (Q1 FY27), +115% from a year earlier and +10% from the quarter before. Operating margin was 25.2%, net earnings $129M (27.0% of revenue).
Credo Technology Group Holding, Q1 FY27: revenue $479M (+115% year over year), operating margin 25.2%, net earnings $129M, operating cash flow $90.2M. The chart follows the revenue to costs, profit and cash.
| Q1 FY27 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $479M | +10% | +115% |
| Gross profit | $309M | +4% | +106% |
| Operating profit | $121M | -23% | +99% |
| Net earnings | $129M | -23% | +104% |
| Operating cash flow | $90.2M | -50% | +67% |
| Free cash flow | $82.9M | -53% | +62% |
What changed
Revenue was $479.0M in Q1 FY27, up 115% year over year and up 10% from the previous quarter.
Gross margin was 64.5%, down 2.9 points from Q1 FY26. Operating profit was $120.7M, a 25.2% margin (down 2.0 points year over year). Of the extra revenue versus Q1 FY26, 23% reached operating profit, below the 27% margin then. Operating expenses grew 110% against revenue growth of 115%. The fastest-growing cost line was Research & development (+118%). Net earnings were $129.4M, up 104% year over year. The effective tax rate was -0.5%.
Operating cash flow was $90.2M (up 67% year over year), 70% of net earnings. Non-cash charges added back $8.6M of depreciation and amortization and $88.0M of share-based compensation. Working capital and other items used $135.8M. Capital expenditures of $7.3M left free cash flow of $82.9M.
Questions
What was Credo Technology Group Holding's revenue in the first quarter fiscal 2027?
Credo Technology Group Holding (CRDO) reported revenue of $479M for the first quarter fiscal 2027 (Q1 FY27), +115% from a year earlier and +10% from the quarter before.
Was Credo Technology Group Holding profitable in the first quarter fiscal 2027?
Operating profit was $121M (25.2% of revenue) and net earnings $129M.