NASDAQ$CRDO
Credo Technology Group Holding Ltd · Q3 2026 earnings
Q3 2026 earnings · · After market close · Investor relations
Briefing
Credo Technology Group Holding Ltd reported record financial results for the third quarter of fiscal year 2026, ending January 31, 2026.
Credo delivered a record-breaking third quarter with revenue exceeding $400 million, representing over 200% year-over-year growth. The company saw significant expansion in its AI infrastructure solutions, particularly in AECs and ICs, while maintaining strong gross margins and achieving substantial profitability on both a GAAP and non-GAAP basis.
- Revenue grew 201.5% year-over-year to $407.0 million, driven by AI infrastructure demand.
- Non-GAAP net income reached $208.8 million, or $1.07 per diluted share.
- GAAP gross margin remained strong at 68.5%, with non-GAAP gross margin at 68.6%.
- The company announced three new multi-billion dollar TAM expansions: ZeroFlap optics, ALCs, and OmniConnect.
Headline financials
Revenue & EPS history
Credo · Revenue · Quarterly
$407M
Forward guidance
For the fourth quarter of fiscal 2026, Credo expects continued revenue growth and healthy margins, though slightly lower than Q3 levels.
Tailwinds
- Expected revenue between $425.0 million and $435.0 million
- Non-GAAP gross margin expected to remain strong between 64.0% and 66.0%
- Confidence in multi-billion dollar TAM expansions
- Continued growth in AECs and ICs
- Strong cash position of $1.3 billion to support innovation
Headwinds
- GAAP gross margin expected to decline sequentially to 63.9% - 65.9%
- Non-GAAP gross margin expected to decline sequentially from 68.6%
- GAAP operating expenses expected to remain high at $125.5M - $129.5M
- Non-GAAP operating expenses expected to increase to $76.0M - $80.0M
- Potential volatility in the expanding AI infrastructure landscape
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 17 quarterly earnings reports · overlaid with Q3 2026
+3.8%
Avg return
Earnings day
+1.5%
Avg return
5 days after
+0.1%
Avg return
30 days after
43%
9 / 21 earnings
Positive
+44.4%
Q2 2025
Best reaction
-15.7%
Q1 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q3 2026 | -2.4% | -3.8% | -11.2% | |
| Q2 2026 | +8.7% | +2.9% | -15.9% | |
| Q1 2026 | +7.3% | +19.4% | +15.3% | |
| Q4 2025 | +14.7% | +16.5% | +49.4% | |
| Q3 2025 | -14.0% | -27.4% | -38.7% | |
| Q2 2025 | +44.4% | +51.6% | +37.3% | |
| Q1 2025 | -15.7% | -23.3% | +3.0% | |
| Q4 2024 | +23.9% | +21.5% | +54.1% | |
| Q3 2024 | -0.6% | +0.7% | -5.0% | |
| Q2 2024 | -3.3% | +3.6% | +5.1% | |
| Q1 2024 | -2.6% | -1.5% | -7.5% | |
| Q4 2023 | +20.9% | +16.8% | +26.8% | |
| Q3 2023 | -3.3% | -4.3% | -11.2% | |
| Q2 2023 | +4.4% | +6.9% | -4.2% | |
| Q1 2023 | -8.5% | -9.0% | -22.4% | |
| Q2 2022 | -7.2% | -12.4% | -12.8% | |
| Q4 2022 | +26.5% | +24.5% | +10.4% | |
| Q3 2021 | -5.7% | -13.0% | -18.2% | |
| Q1 2022 | -5.7% | -13.0% | -18.2% | |
| Q4 2021 | -5.7% | -13.0% | -18.2% | |
| Q3 2022 | +2.7% | -13.1% | -14.6% | |
| Q2 2021 | — | — | — | |
| Q1 2021 | — | — | — |
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