Credo Technology’s quarterly Revenue rose to $479.003 million from $223.074 million, while Net Income reached $129.425 million from $63.399 million. Investors also have basic Earnings of $0.70 per share and diluted earnings of $0.67, while approximately $4.2 million of contracted obligations is expected to convert into revenue over the next 12 months.

Key Highlights

  • Revenue totaled $479.003 million, compared with $223.074 million in the comparable period.
  • Net income reached $129.425 million, compared with $63.399 million in the comparable period.
  • Basic earnings reached $0.70 per share, while diluted earnings were $0.67.

Credo Technology Group Holding Ltd (NASDAQ: CRDO) generated $479.003 million in revenue for the three months ended August 1, 2026, compared with $223.074 million in the comparable period. Net income reached $129.425 million, up from $63.399 million. Basic Earnings Per Share were $0.70, while Diluted Earnings per Share were $0.67. The quarter’s revenue increase was primarily tied to higher unit shipments of active electrical cable products, which contributed more than 90% of the increase. The company said the sales expansion came from the ramp-up of its active electrical cable solutions at hyperscale Data Center customers.

Quarterly Revenue And Earnings

Gross profit climbed to $309.080 million from $150.368 million in the comparable period. Cost of revenue was $169.923 million, compared with $72.706 million. Research and Development expense totaled $114.524 million, versus $52.448 million. Selling, general and administrative expense was $73.856 million, compared with $37.178 million, taking total operating expenses to $188.380 million from $89.626 million. Operating Income was $120.700 million, compared with $60.742 million. Other income, net, reached $8.140 million, versus $3.946 million, while income before income taxes totaled $128.840 million compared with $64.688 million. The period included an income tax benefit of $0.585 million, compared with an income tax provision of $1.289 million in the comparable period. Weighted-average basic shares were 186,007,000, while weighted-average diluted shares were 194,378,000.

Active Cable Shipments Drive Sales

The company attributed the sales expansion to greater unit shipment Volume and the ramp-up of its active electrical cable solutions at hyperscale data center customers. Credo Technology reported one reportable segment. Its customer base includes hyperscalers, Neoclouds, original equipment manufacturers, original design manufacturers and optical module manufacturers, along with companies in enterprise and high-performance computing markets. It also expects customer concentration to decrease as product adoption broadens and the number of customers increases.

Operating Costs And Profit Measures

Research and development expense was $114.524 million for the quarter, while selling, general and administrative expense reached $73.856 million. Together, those costs produced total operating expenses of $188.380 million. The company reported $120.700 million of operating income and $129.425 million of net income. Basic earnings per share increased from $0.37 in the comparable period to $0.70, while diluted earnings per share rose from $0.34 to $0.67. Comprehensive income totaled $126.861 million after a foreign-currency translation loss of $2.564 million. The comparable period recorded comprehensive income of $63.408 million and a foreign-currency translation gain of $9,000.

Remaining Performance Obligations

The company expects to recognize those obligations over the next 12 months. The Business also completed acquisitions during 2026. The company said the DustPhotonics transaction was intended to support a vertically integrated connectivity stack covering SerDes, digital signal processing, silicon photonics and system integration. The CoMira transaction was intended to add link-layer, error-correction and security semiconductor intellectual property for system-level solutions.