Short answer
Credo Technology Group Holding Ltd (CRDO) filed its fiscal 2026 10-K annual report with the SEC on Jun 15, 2026. It reported revenue of $1.3B (+205.7% year over year) and net income of $472M.
- Top risk flagged: Regulatory risk: Uncertain impact of the EU Artificial Intelligence Act effective Aug 2, 2024 imposing risk-based AI governance on generative AI technology
FY2026 key financial metrics · XBRL
- Revenue
- $1.3B
- +205.7% YoY
- Net income
- $472M
- +805.0% YoY
- Operating margin
- 33.3%
- +24.8 pp YoY
- Gross margin
- 68.0%
- +3.3 pp YoY
- EPS (diluted)
- $2.51
- +765.5% YoY
- ROE
- 22.9%
- +15.2 pp YoY
- Operating cash flow
- $464M
- +613.4% YoY
Source: XBRL data from the Credo Technology Group Holding Ltd (CRDO) FY2026 10-K on SEC EDGAR. USD.
Credo Technology Group Holding Ltd FY2026 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business: High-speed copper and optical interconnect products leveraging proprietary SerDes and DSP tech for AI data infrastructure connectivity
- New products: Introduced Bluebird 200G/lane DSP (3nm node), OmniConnect platform with Weaver memory fanout gearbox, microLED-based Active LED Cables (ALCs)
- Strategic shift: Emphasis on AI-driven data center interconnect solutions with enhanced reliability (ZeroFlap optics), expanded portfolio addressing memory bandwidth bottlenecks
- Notable metric: Revenue $1.3B in fiscal 2026, up nearly 3x from $436.8M in 2025; R&D spend increased to $279.4M from $146.9M YoY; 616 engineers as of May 2, 2026
- Unique fact: First to deliver 800G DSP for linear receive optics and pioneered the ZeroFlap system approach addressing AI cluster link flaps with telemetry and remote management
Management Discussion & Analysis
- Revenue $1.335B, up 205.7% YoY from $436.8M, driven by AEC product volume shipments at hyperscale data centers
- Gross margin 68.0% vs 64.8%, operating margin 33.3% vs 8.5%, net income margin 35.4% vs 11.9% fiscal 2026 and 2025 respectively
- Best segment: AEC products contributing over 99% of revenue increase, no specific worst segment disclosed
- Operating cash flow $464.3M vs $65.1M; capital expenditures $57.3M; acquisitions $112.9M; financing raised $736.3M via ATM offering
- Management expects ongoing R&D investments and expanding customer base, raising potential risks from revenue concentration and capital needs
Risk Factors
- Regulatory risk: Uncertain impact of the EU Artificial Intelligence Act effective Aug 2, 2024 imposing risk-based AI governance on generative AI technology
- Geopolitical risk: Taiwan foundry dependence with heightened PRC-Taiwan tensions risks disrupting manufacturing capacity critical to semiconductor production
- Operational risk: Sole foundry reliance on TSMC and assembly/test contractors like Amkor, with 9-12 months needed to qualify alternative suppliers
- Competitive risk: Intense competition from Broadcom, Marvell, and Astera Labs with risk of losing design wins due to competitors’ superior resources
- Financial risk: Revenue concentration with top 10 customers accounting for ~90%, exposing results to order cancellations or delays without long-term purchase commitments
Generated from the filing text; verify against the original. How to read a 10-K
Other Credo Technology Group Holding Ltd annual reports
Ask about this 10-K
Compare years, dig into a risk factor or check the numbers against insider trades and fund holders.