Loading…
Credo Technology Group Holding Ltd provides various high-speed connectivity solutions for optical and electrical Ethernet, and PCIe applications in the United States, Taiwan, Mainland China, Hong Kong, and internationally. It provides HiWire active electrical cables solutions, including HiWire CLOS, SPAN, SHIFT, and SWITCH; optical PAM4 digital signal processors; low-power line card PHY; serializer/deserializer (SerDes) chiplets; and SerDes IP, as well as integrated circuits. The company also offers intellectual property solutions consist of SerDes IP licensing. In addition, it offers predictive integrity link optimization and telemetry; PCIe retimer solutions; and support and maintenance, engineering, and royalties services. The company sells its products to hyperscalers, original equipment manufacturers, original design manufacturers, and optical module manufacturers, as well as into the enterprise and HPC markets. Credo Technology Group Holding Ltd was founded in 2008 and is based in Grand Cayman, the Cayman Islands.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $437M | $60M | $52M | $29M | 7.7% | 126.3% | -283.9% |
| 2024 | $193M | $-23M | $-28M | $17M | -5.3% | 4.8% | 71.4% |
| 2023 | $184M | $-9M | $-17M | $-46M | -4.8% | 73.0% | -25.4% |
| 2022 | $106M | $-14M | $-22M | $-48M | -6.6% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 106.48 | 184.19 | 192.97 | 436.78 |
| Operating Revenue | 106.48 | 184.19 | 192.97 | 436.78 |
| Cost Of Revenue | 42.46 | 78 | 73.54 | 153.87 |
| Gross Profit | 64.02 | 106.19 | 119.43 | 282.91 |
| Operating Expense | 82.85 | 125.02 | 155.72 | 244.91 |
| Research And Development | 47.95 | 76.77 | 95.53 | 145.99 |
| Selling General And Administration | 34.90 | 48.25 | 60.19 | 98.92 |
| Total Expenses | 125.31 | 203.02 | 229.26 | 398.78 |
| Operating Income | -18.83 | -18.83 | -36.29 | 38 |
| Total Operating Income As Reported | -21.97 | -21.24 | -37.06 | 37.12 |
| EBITDA | -14.04 | -9.31 | -22.52 | 59.94 |
| Normalized EBITDA | -10.91 | -6.91 | -21.76 | 60.81 |
| EBIT | -18.83 | -18.83 | -36.29 | 38 |
| Other Non Operating Income Expenses | -0.24 | 3.32 | 14.31 | 17.75 |
| Other Income Expense | -3.38 | 0.91 | 13.55 | 16.87 |
| Pretax Income | -22.21 | -17.91 | -22.74 | 54.87 |
| Tax Provision | -0.04 | -1.37 | 5.62 | 2.69 |
| Tax Rate For Calcs | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | -0.01 | -0.18 | -0.16 | -0.04 |
| Net Income Continuous Operations | -22.18 | -16.55 | -28.37 | 52.18 |
| Net Income From Continuing And Discontinued Operation | -22.18 | -16.55 | -28.37 | 52.18 |
| Net Income From Continuing Operation Net Minority Interest | -22.18 | -16.55 | -28.37 | 52.18 |
| Net Income | -22.18 | -16.55 | -28.37 | 52.18 |
| Net Income Common Stockholders | -22.18 | -16.55 | -28.37 | 52.18 |
| Net Income Including Noncontrolling Interests | -22.18 | -16.55 | -28.37 | 52.18 |
| Normalized Income | -19.05 | -14.32 | -27.76 | 53.01 |
| Diluted NI Availto Com Stockholders | -22.18 | -16.55 | -28.37 | 52.18 |
| Basic Average Shares | 88.40 | 147.15 | 155.09 | 167.50 |
| Diluted Average Shares | 88.40 | 147.15 | 155.09 | 181.16 |
| Reconciled Depreciation | 4.79 | 9.51 | 13.77 | 21.94 |
| Reconciled Cost Of Revenue | 42.46 | 78 | 73.54 | 153.87 |
| Total Unusual Items | -3.13 | -2.41 | -0.76 | -0.87 |
| Total Unusual Items Excluding Goodwill | -3.13 | -2.41 | -0.76 | -0.87 |
| Minority Interests | 0 | - | - | - |
| Special Income Charges | -3.13 | -2.41 | -0.76 | -0.87 |
| Impairment Of Capital Assets | 3.13 | 2.41 | 0.76 | 0.87 |
Technology sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Credo Technology Group Holding Ltdthis co. | CRDO | $40.1B | 768.79↑ premium | 58.86 | 7.7% | 665.68 |
| Fabrinet | FN | $25.6B | 77.02 | 12.92 | 16.8% | 60.40 |
| IonQ, Inc. | IONQ | $24.5B | -48.02 | 6.45 | -13.4% | -42.61 |
| Nextpower Inc. | NXT | $22.9B | 39.05 | 9.80 | 25.1% | 29.35 |
| TTM Technologies, Inc. | TTMI |
| $19.2B |
| 108.18 |
| 10.89 |
| 10.1% |
| 48.96 |
| DigitalOcean Holdings, Inc. | DOCN | $18.8B | 72.66 | -656.60 | -903.7% | 55.75 |
| SiTime Corporation | SITM | $18.7B | -434.98 | 16.14 | -3.7% | -922.21 |
| Rambus Inc. | RMBS | $18.3B | 79.46 | 13.42 | 16.9% | 55.81 |
| Applied Optoelectronics, Inc. | AAOI | $16.3B | -425.88 | 22.18 | -5.2% | -1052.31 |
| Peer Median | - | 55.85 | 11.91 | 3.2% | 39.16 | |