Credo Technology Group Holding Ltd (CRDO) Q1 FY2027 earnings

Reported results

• GAAP gross margin of 64.5% and non-GAAP gross margin of 68.0%
• GAAP operating expenses of $188.4 million and non-GAAP operating expenses of $95.2 million
• GAAP net income of $129.4 million and non-GAAP net income of $236.3 million
• GAAP diluted net income per share of $0.67 and non-GAAP diluted net income per share of $1.20
• Ending cash and short-term investment balance of $764.3 million

Guidance

• Q2 FY2027 revenue expected between $525 million and $535 million
• Q2 FY2027 GAAP gross margin expected between 62.9% and 64.9%, and non-GAAP gross margin expected between 67.0% and 69.0%
• Q2 FY2027 GAAP operating expenses expected between $199 million and $204 million, and non-GAAP operating expenses expected between $100 million and $105 million

Price and volatility reaction

The stock moved -20.0% on the print. No front-expiry chain was on file, so there is no straddle expected move. 30-day ATM implied volatility moved -49.4 vol points across the event (constant-maturity series — not the front-week crush).

Source

The figures above come from the earnings release the company filed with the SEC on 2026-09-01 (8-K, Item 2.02). Read the original filing on sec.gov.