Credo Technology Group Holding Ltd CRDO
At Credo, our mission is to transform connectivity at scale through fast, reliable and energy-efficient system solutions. The Company's highspeed copper and optical interconnect products deliver industry-leading power and performance at up to 1.6T to meet the ever-expanding data infrastructure demands of AI. The Company's product portfolio includes ZeroFlap (ZF) Active Electrical Cables (AECs) and ZF optical transceivers, OmniConnect memory solutions and a suite of retimers and DSPs for optical and copper Ethernet and PCIe, all leveraging the Company's PILOT diagnostic and analytics software platform. The Company's innovations enable our customers to connect the systems that connect the world.
Valuation FY2025 figures against the last close
Where the revenue comes from as reported in the latest 10-K
Revenue by geography
- United States
- Hong Kong
- Rest of World
- China
- Taiwan
| Region | FY2025 | FY2023 |
|---|---|---|
| United States | $768.1M | $49.6M |
| Hong Kong | $378.2M | $70.2M |
| Rest of World | $85.2M | $23.7M |
| China | $80.9M | $28.3M |
| Taiwan | $22.7M | $21.3M |
As the company reported it, from the “Segment and Geographic Information - Disaggregation of Revenue (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Regions are the filer's own and are not mapped onto a standard list — one company's “Americas” and another's “United States” are different areas, and making them look comparable would mean making at least one of them wrong. Slices under 1% are folded into “Other”.
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.34B | $436.8M | $193.0M | $184.2M | $106.5M | $58.7M | $53.8M | — |
| Cost of revenue | $426.8M | $153.9M | $73.5M | $78.0M | $42.5M | $20.4M | $7.7M | — |
| Gross profit | $908.3M | $282.9M | $119.4M | $106.2M | $64.0M | $38.3M | $46.1M | — |
| R&D | $279.4M | $146.9M | $96.3M | $76.8M | $47.9M | $34.8M | $27.6M | — |
| SG&A | $184.0M | $98.9M | $60.2M | $48.2M | $34.9M | $28.7M | $16.5M | — |
| Total operating expenses | $463.3M | $245.8M | $156.5M | $127.4M | $86.0M | $63.5M | $44.0M | — |
| Operating income | $445.0M | $37.1M | -$37.1M | -$21.2M | -$22.0M | -$25.2M | $2.1M | — |
| Pre-tax income | $475.4M | $54.9M | -$22.7M | -$17.9M | -$22.2M | -$25.3M | $2.1M | — |
| Income tax | $3.2M | $2.7M | $5.6M | $1.4M | $37.0K | $2.2M | $766.0K | — |
| Net income | $472.3M | $52.2M | -$28.4M | -$16.5M | -$22.2M | -$27.5M | $1.3M | — |
| EPS, basic | 2.65 | 0.31 | -0.18 | -0.11 | -0.25 | -0.40 | 0.00 | — |
| EPS, diluted | 2.51 | 0.29 | -0.18 | -0.11 | -0.25 | -0.40 | 0.00 | — |
| Shares, diluted (wtd. avg.) | 188.2M | 181.2M | 155.1M | 146.6M | 88.4M | 69.1M | 71.7M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $1.16B | $236.3M | $66.9M | $108.6M | $259.3M | $103.8M | $73.9M | $31.8M |
| Short-term investments | $278.3M | $195.0M | $343.1M | $109.2M | $0 | — | — | — |
| Receivables | $233.4M | $162.1M | $59.7M | $49.5M | $29.5M | $13.6M | — | — |
| Inventory | $250.8M | $90.0M | $25.9M | $46.0M | $27.3M | $7.1M | — | — |
| Total current assets | $2.00B | $713.5M | $530.3M | $328.2M | $332.2M | $137.8M | — | — |
| Property, plant and equipment | $101.6M | $63.6M | $43.7M | $40.2M | $21.8M | $14.2M | — | — |
| Goodwill | $92.8M | $0 | — | — | — | — | — | — |
| Other intangibles | $29.3M | $0 | — | — | — | — | — | — |
| Total assets | $2.30B | $809.3M | $601.9M | $397.3M | $375.7M | $155.5M | — | — |
| Accounts payable | $107.3M | $56.2M | $13.4M | $6.1M | $8.5M | $3.6M | — | — |
| Total current liabilities | $197.1M | $107.7M | $44.6M | $31.0M | $26.5M | $12.5M | — | — |
| Total liabilities | $232.0M | $127.7M | $61.7M | $49.7M | $41.5M | $13.0M | — | — |
| Retained earnings | $389.1M | -$83.2M | -$135.3M | -$107.0M | -$90.4M | -$68.3M | — | — |
| Total equity | $2.06B | $681.6M | $540.2M | $347.6M | $334.2M | -$55.4M | -$9.4M | -$12.8M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $464.3M | $65.1M | $32.7M | -$24.6M | -$30.8M | -$42.4M | -$10.3M | — |
| Depreciation and amortisation | $34.6M | $21.9M | $13.8M | $9.5M | $4.8M | $2.2M | $1.8M | — |
| Stock-based compensation | $182.6M | $77.4M | $39.0M | $23.5M | $9.2M | $2.6M | $1.2M | — |
| Capital expenditure | $57.3M | $36.1M | $15.7M | $21.7M | $17.6M | $6.1M | $8.8M | — |
| Investing cash flow | -$253.5M | $112.0M | -$249.5M | -$130.9M | -$17.6M | -$6.1M | -$8.8M | — |
| Financing cash flow | $717.6M | -$7.7M | $175.3M | $4.9M | $204.2M | $77.9M | $61.2M | — |
| Buybacks | — | — | — | $0 | $0 | $22.9M | $0 | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001628280-26-058936.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | — | $53.8M | $58.7M | $106.5M | $184.2M | $193.0M | $436.8M | $1.34B |
| Gross profit | — | $46.1M | $38.3M | $64.0M | $106.2M | $119.4M | $282.9M | $908.3M |
| Net income | — | $1.3M | -$27.5M | -$22.2M | -$16.5M | -$28.4M | $52.2M | $472.3M |
Recent filings and events
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
- Results announced Item 2.02
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Unregistered share sale Shares issued outside a registered offering. Dilution, and for a small company often the way it is funded. Item 3.02
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Results announced Item 2.02
- Results announced Item 2.02
- Officer or director change Item 5.02
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Results announced Item 2.02
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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