# Credo Technology Group financial performance

> Live situation record from CLSTR: https://clstr.news/situations/credo-technology-group-financial-performance
> Updated: 2026-09-01T23:36:41.000Z. Sources: 7. Developments: 2.

Credo Technology Group reported record fiscal first-quarter 2027 revenue of $479 million, marking a 115% increase compared to the previous year. The company attributed this growth to rising demand for AI infrastructure connectivity products, specifically noting the need for faster, power-efficient data rates as AI cluster sizes expand.

CEO Bill Brennan stated that the company has achieved seven consecutive quarters of triple-digit year-over-year revenue growth. Financial results for the quarter included a non-GAAP net income of $236.3 million and a non-GAAP gross margin of 68%. For the upcoming fiscal second quarter, Credo projected revenue between $525 million and $535 million.

Despite these strong earnings, the company’s stock experienced a 20% decline during trading following a price target reduction by JPMorgan Chase & Co.

## Timeline

### 2026-09-01: SpaceX and Credo Technology report mixed market performance

SpaceX reports strong revenue growth and Starship progress amid stock volatility, while Credo Technology Group sees massive year-over-year revenue gains despite a recent analyst-driven stock dip.

7 sources. https://clstr.news/cluster/credo-technology-group-reports-record-q1-2027-revenue

### 2026-08-17: Credo Technology and Cibus see divergent market activity

Credo Technology Group shares rose 8.8% amid positive analyst price targets, while Cibus, Inc. faces lowered earnings forecasts following a quarterly miss.

3 sources. https://clstr.news/cluster/citrotech-and-pharvaris-receive-updated-analyst-earnings-forecasts

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Cite as: Credo Technology Group financial performance. CLSTR, https://clstr.news/situations/credo-technology-group-financial-performance