December 2, 2025 — Leads & Copy — Credo Technology Group Holding Ltd (Nasdaq: CRDO) has released its financial results for the second quarter of fiscal year 2026, which ended on November 1, 2025. The company, which specializes in system-level connectivity solutions for AI, cloud computing, and hyperscale networks, reported substantial revenue growth and GAAP profitability.
Key financial highlights from the second quarter of fiscal year 2026 include:
Revenue reached $268.0 million, marking a 20.2% increase quarter-over-quarter and a 272.1% increase year-over-year.
GAAP gross margin stood at 67.5%, with a non-GAAP gross margin of 67.7%.
GAAP operating expenses totaled $102.3 million, while non-GAAP operating expenses were $57.3 million.
The company reported a GAAP net income of $82.6 million and a non-GAAP net income of $127.8 million.
GAAP diluted net income per share was $0.44, and non-GAAP diluted net income per share was $0.67.
Credo concluded the quarter with cash and short-term investments totaling $813.6 million.
Looking ahead to the third quarter of fiscal year 2026, Credo anticipates:
Revenue between $335.0 million and $345.0 million.
GAAP gross margin between 63.8% and 65.8%, and non-GAAP gross margin between 64.0% and 66.0%.
GAAP operating expenses between $116.0 million and $120.0 million, and non-GAAP operating expenses between $68.0 million and $72.0 million.
Bill Brennan, Credo’s President and CEO, noted that the second quarter results were the strongest in the company’s history, driven by the expansion of AI training and inference clusters. He expressed optimism for continued revenue growth and profitability through fiscal year 2026 and beyond, citing growth in core AEC and IC franchises and the upcoming launch of new solutions.
Credo will host a conference call on December 1, 2025, at 2:00 p.m. Pacific Time to further discuss these financial results. A live webcast and replay will be available on the company’s Investor Relations website.
The press release also includes a discussion of non-GAAP financial measures, which exclude items like share-based compensation expenses and asset impairment charges. Credo believes these non-GAAP measures offer valuable insights into the company’s financial and business trends.
About Credo
Credo Technology Group Holding Ltd’s mission is to redefine high-speed connectivity by delivering breakthrough solutions that enable the next generation of AI-driven applications. For more information, please visit https://www.credosemi.com.
Source: Credo Technology Group
