Overview

• Fiscal Q1 revenue reached $223.1 million with adjusted EPS of $0.52, topping FactSet estimates and rising 274% year over year as earnings increased roughly 1,200%.
• Credo guided fiscal Q2 revenue to $230 million to $240 million, implying about 226% growth at the midpoint versus the year-ago period and exceeding consensus near $202 million.
• Shares rose roughly 8% to 9% in after-hours and Thursday trading following the results and guidance.
• Barclays and Susquehanna lifted price targets to $165 while Needham raised to $150, with positive ratings maintained across the firms.
• Needham now models fiscal 2026 revenue of $964 million, citing accelerating uptake of Credo’s active electrical cables and SerDes by major hyperscaler customers including Amazon, Microsoft and xAI.