Filing Flows › Credo Technology Group Holding (CRDO) › Q2 FY26
Credo Technology Group Holding (CRDO) Q2 FY26 earnings results (second quarter fiscal 2026)
10-Q filed Dec 2, 2025
Credo Technology Group Holding (CRDO) reported revenue of $268M for the second quarter fiscal 2026 (Q2 FY26), +272% from a year earlier and +20% from the quarter before. Operating margin was 29.4%, net earnings $82.6M (30.8% of revenue).
Credo Technology Group Holding, Q2 FY26: revenue $268M (+272% year over year), operating margin 29.4%, net earnings $82.6M, operating cash flow $61.7M. The chart follows the revenue to costs, profit and cash.
| Q2 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $268M | +20% | +272% |
| Gross profit | $181M | +20% | +298% |
| Operating profit | $78.8M | +30% | — |
| Net earnings | $82.6M | +30% | — |
| Operating cash flow | $61.7M | +14% | +500% |
| Free cash flow | $38.5M | -25% | — |
What changed
Revenue was $268.0M in Q2 FY26, up 272% year over year and up 20% from the previous quarter. Product sales revenue was the largest line at 97% of revenue. Product sales revenue added $192.2M year over year (up 278%), 98% of the total change.
Gross margin was 67.5%, up 4.4 points from a year earlier. Operating profit was $78.8M, a 29.4% margin (up 41.1 points year over year). Operating expenses grew 90% against revenue growth of 272%. The fastest-growing cost line was SG&A (+100%). Net earnings were $82.6M. The effective tax rate was 1.3%.
Operating cash flow was $61.7M (up 500% year over year), 75% of net earnings. Non-cash charges added back $6.5M of depreciation and amortization and $45.3M of share-based compensation. Working capital and other items used $72.8M. Capital expenditures of $23.2M left free cash flow of $38.5M.
Questions
What was Credo Technology Group Holding's revenue in the second quarter fiscal 2026?
Credo Technology Group Holding (CRDO) reported revenue of $268M for the second quarter fiscal 2026 (Q2 FY26), +272% from a year earlier and +20% from the quarter before.
Was Credo Technology Group Holding profitable in the second quarter fiscal 2026?
Operating profit was $78.8M (29.4% of revenue) and net earnings $82.6M.