Attribute

Detail

Official Name

Credo Technology Group Holding Ltd.

Exchange

NASDAQ (Ticker: CRDO)

Sector

Technology

Industry

Semiconductors / Connectivity Solutions

Website

Credo Technology

CEO

Mr. William J. Brennan

Headquarters

Grand Cayman, Cayman Islands (c/o Maples Corporate Services Limited, Ugland House, PO Box 309, GRAND CAYMAN KY1-1104)

Period

Event/Development

Source

2008

Company founded; established to address the rising demand for high-speed connectivity in a rapidly expanding digital infrastructure landscape.

Yahoo Finance, StockAnalysis

Early 2010s

Initiated R&D and product development in optical and electrical Ethernet connectivity.

Marketscreener

Mid 2010s

Launched diversified products including active electrical cables, digital signal processors, and integrated circuits for connectivity.

FT, Yahoo Finance

2020s

Expanded patent portfolio (78 granted patents as of December 2023) and advanced proprietary 7nm/5nm semiconductor process technologies.

DCF Modeling

Present Day

Established as a global technology innovator with a broad product portfolio (spanning serializer/deserializer chiplets, optical components, and high-performance connectivity solutions) targeting data centers, hyperscale cloud providers, and enterprise networks.

Marketscreener, GuruFocus

Name

Title

Background & Qualifications

LinkedIn URL

Bill Brennan

President & CEO

Extensive semiconductor and technology leadership; former EVP at Vital Connect, VP roles at Marvell Semiconductor, Texas Instruments; BS in Electrical Engineering from the University of Colorado Boulder.

Bill Brennan

Brigham Hamlin

Key Sales Leader

Strong background in sales and channel partnerships; MBA from NYU Stern School of Business; BS in Biochemistry & Cell Biology from UC San Diego.

Brigham Hamlin

Don Barnetson

Key Marketing & Strategy Executive

Senior marketing and strategic leader; experience with SanDisk, Nanosys, and Samsung; MBA from UC Berkeley, and B.Sc. in Electrical Engineering from the University of Calgary.

Don Barnetson

Luke Wang

Senior Principal Engineer

Deep expertise in semiconductor design and high-speed connectivity; former Principal Engineer at Marvell Technology and Senior Staff Engineer at Inphi Corporation; holds a PhD and MASc in Electrical Engineering from the University of Toronto.

Luke Wang

Job Lam

Founder & COO

Over two decades of experience in semiconductor design; former roles at Marvell Semiconductor, Amlogic, and Integrated Device Technology; holds an MS in Electrical and Electronics Engineering from the University of Minnesota and a BS from Oklahoma State University.

Job Lam

Category

Details

Mission Statement

Deliver high-speed solutions to break bandwidth barriers on every wired connection in the data infrastructure market. (Investor Relations)

Key Components

- High-speed connectivity solutions - Enhanced power efficiency - Secure, cost-effective offerings - Significant R&D in advanced semiconductor technologies

Corporate Strategy

Focus on innovation, with investments in advanced connectivity technologies (e.g., SerDes, PCIe retimers) and intellectual property, targeting data centers and enterprise networking sectors. (DCF Modeling)

Core Value

Description

Operational Integration

Technological Innovation

Advances in high-speed semiconductors and connectivity solutions.

Strong R&D investments; continuous product innovation (Investors Credo).

Customer-Centric Solutions

Tailored products addressing unique connectivity and efficiency challenges.

Incorporation of direct customer feedback and custom design services (DCF Modeling).

Transparency and Integrity

Ethical business practices and clear communications.

Robust ESG reporting and governance policies (Business Wire).

Environmental Stewardship

Focus on energy-efficient designs and sustainability.

Adoption of renewable energy (42% consumption), circular economy practices; advanced diagnostic and energy saving technologies. (DCF Modeling).

Employee Growth and Inclusion

Commitment to nurturing a diverse and development-focused workforce.

Focused HR policies and empowerment programs fostering diversity and employee development. (DCF Modeling)

Fiscal Year

Sales (USD)

Notes

2020

53,835,000

Early stage revenue

2021

58,697,000

Modest growth; beginning to scale

2022

106,477,000

Revenue nearly doubled

2023

184,194,000

Continued strong growth

2024

192,970,000

Incremental increase; revenue streams primarily from product sales

Fiscal Year

Net Income (USD)

2020

+1,329,000

2021

-27,511,000

2022

-22,176,000

2023

-16,547,000

2024

-28,369,000

Fiscal Date

CAPEX (USD)

2023-04-30 (Annual)

-21,713,000

2023-04-30 (Q4)

-3,898,000

2023-07-31 (Q1)

-5,312,000

2023-10-31 (Q2)

-2,045,000

2024-01-31 (Q3)

-5,100,000

Metric

Value

Details

Q3 Revenue

$135 million

Strong sequential and year-over-year growth (TipRanks)

GAAP Gross Margin

63.6%

Indicates high efficiency in production

Operating Income

Recorded losses

Indicative of heavy reinvestment in growth

Cash & Short-Term Investments

~$379.2 million

Robust liquidity to support ongoing investments

Fiscal Date

Short Term Debt (USD)

Long Term Debt (USD)

Approx. Total Debt (USD)

2024-04-30

2,741,000

11,133,000

~13,874,000

2023-04-30

2,630,000

12,869,000

~15,499,000

2022-04-30

2,379,000

14,809,000

~17,188,000

Source

Rating

Key Insights

MarketBeat

Moderate Buy

Cautions on customer concentration risks; alternative stocks identified as potentially better buys. (MarketBeat)

Reuters

Buy

Consensus “Buy” rating driven by strong Q3 performance; target price ~$84.00. (Reuters)

MarketWatch

Buy

11 out of 14 ratings “strong buy” or “buy” with a positive overall sentiment; target price ~$85.23. (MarketWatch)

Institutional Holder

Shares

Value (USD)

Percent Held

Blackrock Inc.

17,513,421

949,227,431

10.47%

Vanguard Group Inc

16,357,611

886,582,528

9.78%

JP Morgan Chase & Company

10,034,885

543,890,774

6.00%

Shaw D.E. & Co., Inc.

3,971,004

215,228,419

2.37%

State Street Corporation

3,920,553

212,493,975

2.34%

Capital Research Global Investors

3,875,130

210,032,048

2.32%

Geode Capital Management, LLC

3,315,482

179,699,126

1.98%

Point72 Asset Management, L.P.

3,084,621

167,186,460

1.84%

Swedbank

2,485,314

134,704,020

1.49%

William Blair Investment Management, LLC

1,876,758

101,720,285

1.12%

Parameter

Description

Business Model Type

B2B

Primary Offerings

High-performance semiconductors, optical components, and system-level connectivity solutions

Revenue Generation

Direct product sales, custom design services, and intellectual property licensing

Customer Segments

Data center operators, hyperscale cloud providers, OEMs/ODMs, telecommunications, and enterprise networks

Value Proposition

Enhance network efficiency through advanced, energy-efficient, and secure connectivity solutions that break bandwidth barriers

Channels

Direct B2B sales, OEM/partner integrations, and online technical documentation via the company website (Credo Technology)

Component

Details

Value Proposition

Advanced connectivity solutions founded on proprietary SerDes, DSP, and chiplet technologies; high energy efficiency; rapid diagnostic tools for reduced system downtime. (DCF Modeling)

Customer Segments

Hyperscalers, OEMs/ODMs, optical module manufacturers, and enterprise/HPC markets globally.

Channels & Relationships

Direct sales, intellectual property licensing, and customized consulting/services that create strong, lasting relationships with key customers.

Revenue Streams

Primary revenue from product sales and licensing; financial data suggests continued growth in overall sales with future revenue estimates projecting significant increases.

Cost Structure

Mix of variable costs (COGS) and fixed expenditures (R&D, SG&A), with high R&D investment driving innovation and long-term strategic positioning.

Innovation Driver

Description

Examples/Outcomes

Advanced Semiconductor Development

Focus on high-speed SerDes, DSP, and chiplet technology to enable ultra-fast data transmission.

Products that support high-speed connectivity for data centers and telecommunications. (Credo Website)

Energy-Efficient Design

Emphasis on low-power, high-performance solutions that reduce overall energy consumption and operational costs.

Active Electrical Cables (AECs) and optimized mixed-signal IP development.

Advanced Diagnostic Tools

Integration of embedded logic analyzers and user-friendly graphical interfaces for rapid system bring-up and debugging.

Accelerates time-to-market and enhances system reliability.

Ongoing R&D Investment

Continued expenditure in R&D (e.g., $27.4 million in FY2023 representing 47.3% of total revenue) to drive innovation and technology leadership.

Supports new product introductions such as PCIe 6/7, CXL retimers, and advanced optical components.

Regulatory Body

Details

SEC (U.S. Securities and Exchange Commission)

As a publicly traded company, Credo files regular disclosures and adheres to strict regulatory requirements. (SEC.gov)

PCI-SIG

Adheres to PCI-SIG standards for products such as PCIe retimers to ensure interoperability and industry compliance. (PCI-SIG)

Sustainability Practice

Details

Source

Low-Power Connectivity Solutions

Develops energy-efficient products that reduce energy consumption and environmental impact.

Credo ESG Report

GHG Emissions Measurement

Completed comprehensive GHG emissions calculations as a baseline for carbon offset strategies.

SDxCentral

Renewable Energy Transition

Transitioned San Jose facilities to 100% renewable energy to reduce carbon footprint.

SDxCentral

Initiative Category

Description

Diversity & Inclusion

DEI practices including focused recruitment, structured interviews, and pay equity measures to foster a diverse workplace. (BusinessWire)

Community Engagement – Credo Cares

Employee-driven program supporting charities and community initiatives; examples include fundraising for causes such as the Susan G. Komen Breast Cancer Foundation. (Credo Cares)

Region

Key Markets & Facilities

Role

Cayman Islands

Corporate headquarters in Grand Cayman; provides a favorable regulatory and tax environment.

Corporate governance, international holding structure.

North America

Offices in San Jose, CA and other key cities.

R&D, product development, customer support, and executive leadership. (LinkedIn)

Asia

Office in Hong Kong Science Park, Shatin, N.T.

Regional business growth, technology research, and global market expansion.

Other Regions

Active presence in the United States, Taiwan, Mainland China, and Hong Kong.

Distribution, sales, and localized service support across global markets.

Partner/Initiative

Description

Impact

Microsoft Azure, Databricks, McKinsey

Though these alliances are highlighted in broader AI governance contexts, Credo’s engagements in major industry events and strategic discussions reinforce its market leadership.

Enhances credibility and market reach in high-speed connectivity and responsible AI initiatives.

Industry Collaborations

Active participation in events such as the Chiplet Summit 2025 to showcase innovation and build strategic alliances.

Reinforces technological leadership and fosters standard-setting within the industry. (StocksToTrade)

Competitor Name

Key Strengths

Vertiv (VRT)

Significantly higher revenue and earnings, robust net margins and ROE, and high institutional ownership. (MarketBeat)

L3Harris Technologies (LHX)

Large-cap revenue base and stable growth with a strong target price performance. (MarketBeat)

Nokia Oyj (NOK), Ericsson (ERIC), ASE Technology (ASX), Ubiquiti (UI), Hubbell (HUBB), GlobalFoundries (GFS), STMicroelectronics (STM), Flex (FLEX)

Diverse portfolio, global scale, industry innovation, and robust operational capabilities. (MarketBeat)

Trend

Description

Source

High-Speed Connectivity Demand

Rising global data infrastructure needs drive demand for high-speed, energy-efficient connectivity solutions.

TipRanks

Advancements in PCIe and AI

Rapid development in PCIe technology and increasing AI deployment in data centers boost market opportunities.

StocksToTrade, GuruFocus

Hyperscale Data Center Expansion

Continuous expansion of hyperscale data centers reinforces long-term demand for scalable connectivity solutions.

GuruFocus

Energy Efficiency Focus

Global emphasis on lowering operational costs and reducing environmental impact drives technology innovation in connectivity.

TipRanks

Challenge/Risk

Description

Mitigation Strategies

Source

Competitive Market Dynamics

Market is highly competitive with rapid technological advancements.

Sustained R&D investment and strategic partnerships to maintain an innovation edge.

GuruFocus

Macroeconomic Uncertainties

Global economic volatility and supply chain disruptions pose operational risks.

Supplier diversification and proactive risk management practices.

GuruFocus

Customer Concentration & Operating Losses

Heavy reliance on a few key customers and persistent losses increase vulnerability.

Customer base diversification and operational efficiency improvements.

GuruFocus

Need for Continuous Innovation

Rapid technological change requires consistent product development to remain relevant.

Continuous R&D investment and accelerated product development cycles.

GuruFocus

Case/Controversy

Details

Outcome

Source

Credo Technology Group, Ltd. v. Credo.AI Corp

Lawsuit filed in the U.S. District Court, Northern District of California in April 2024 regarding a dispute with Credo.AI Corp.

Pending

Justia Dockets

Shareholder Investigation by Pomerantz LLP

Allegations of securities fraud following a significant drop in stock price in February 2023.

Ongoing

PR Newswire

Time Horizon

Focus Area

Key Initiatives

Financial Support

Near-Term

Product Optimization & Market Penetration

Enhance existing product lines (e.g., AECs, PCIe 6/7 and CXL retimers), improve diagnostic tools, and refine customer engagement strategies.

Leveraging strong Q3 revenue growth ($135M) and healthy cash reserves (~$379.2M). (TipRanks)

Long-Term

Innovation, Market Expansion & Global Dominance

Expand into emerging markets, diversify the customer base beyond concentrated hyperscaler relationships, and foster strategic partnerships for new technology integration (including AI-driven applications).

Continued and increasing R&D investments; strategic alliances; stable liquidity enabling future scalability. (GuruFocus)

Strategy Component

Role & Impact

High-Speed Connectivity Solutions

Backbone for digital infrastructures, ensuring that robust, secure, and energy-efficient connectivity supports digital transformation across enterprises. (Investor Relations)

Advanced Diagnostic Tools

Embedded logic analyzers and SerDes tools provide real-time data analytics for performance monitoring, rapid troubleshooting, and product optimization.

Data-Driven Product Optimization

Utilizes analytics to refine connectivity solutions and support rapid market adaptation, aligning with increasing demands in AI, cloud computing, and 5G applications. (BusinessWire)

Attribute

Detail

Official Name

Credo Technology Group Holding Ltd.

Exchange

NASDAQ (Ticker: CRDO)

Sector

Technology

Industry

Semiconductors

Website

Credo Technology

CEO

Mr. William J. Brennan

Headquarters

Grand Cayman, Cayman Islands (Address: c/o Maples Corporate Services Limited, Ugland House, PO Box 309, CA, ZIP 1-1104)

Element

Description

Core Functionality

Provider of connectivity solutions critical for modern high-speed networks and data infrastructure.

Product Focus

High-performance semiconductors, optical components and system-level solutions that enhance network efficiency.

Market Role

Supports data centers, hyperscale cloud providers, service providers, and enterprise networks by optimizing bandwidth and ensuring faster, more reliable data flows.

Technological Emphasis

Focus on energy-efficient designs and green computing solutions, essential for sustaining the digital ecosystem and reducing operational costs.

Strategic Positioning

At the forefront of technological innovations in connectivity and plays a pivotal role in addressing the demands of modern digital infrastructure.

Fact

Details

Founded Year

2008

Location

Grand Cayman, Cayman Islands

Historical Context

Founded during a period of rapid growth in global data infrastructure, the establishment of Credo Technology Group Holding Ltd was driven by increasing demands for high-speed connectivity solutions. The company’s mission is centered on breaking bandwidth barriers across wired connections, addressing the exponential increase in digital data rates and evolving network needs.

Name

Title/Role

Background & Qualifications

LinkedIn URL

Bill Brennan

President & CEO

Extensive leadership experience in semiconductor and technology sectors. Prior roles: Executive Vice President at Vital Connect, Inc.; Vice President at Marvell Semiconductor, Exis, and Texas Instruments. Holds a Bachelor of Science in Electrical Engineering from the University of Colorado Boulder. Source

Bill Brennan

Brigham Hamlin

Key Sales Leader (KMP)

Robust background in sales and commercial operations. Held multiple roles at Beckman Coulter (Regional Sales Manager, Manager of Channel Partnerships and Field Sales Training) and Counsyl (Regional and National Sales Director). Academically, earned an MBA in Strategy from NYU Stern School of Business and a BS in Biochemistry and Cell Biology from UC San Diego. Source

Brigham Hamlin

Don Barnetson

Key Marketing & Strategy Executive (KMP)

Brings strategic marketing, product development and business leadership expertise. Extensive roles include Senior Director of Strategy and Marketing at SanDisk, Director roles at Nanosys and Samsung Electronics. Academically, holds an MBA in Business Administration and Management from UC Berkeley, Haas School of Business, and a B.Sc. in Electrical Engineering from the University of Calgary. Source

Don Barnetson

Luke Wang

Senior Principal Engineer (KMP)

Deep technical expertise in semiconductor and high-speed circuit design. Prior positions include Principal Engineer at Marvell Technology and Senior Staff Engineer, Analog Mixed Signal Design at Inphi Corporation. Significant contributions in developing industry-first products in advanced process nodes; holds advanced academic qualifications from the University of Toronto (PhD and MASc in Electrical Engineering). Source

Luke Wang

Job Lam

Founder & COO

One of the founders with over two decades in semiconductor design and engineering leadership. Previous roles include Sr. Design Engineering Director at Marvell Semiconductor, along with positions at Amlogic and Integrated Device Technology. Earned a Master of Science in Electrical and Electronics Engineering from the University of Minnesota and a Bachelor of Science in the same field from Oklahoma State University. Source

Job Lam

Attribute

Details

Company Name

Credo Technology Group Holding Ltd

Location

Grand Cayman, Cayman Islands

Address

C/O Maples Corporate Services Limited, Ugland House PO Box 309, GRAND CAYMAN KY1-1104, Cayman Islands

Jurisdiction

Cayman Islands (popular for its favorable regulatory and tax environment)

Factor

Description

Tax Efficiency

Cayman Islands offers a tax-neutral environment, helping in optimized tax planning for international operations.

Regulatory Environment

The jurisdiction is known for its business-friendly regulatory framework, attracting multinational holding companies.

Strategic Position

Being located in a well-recognized international financial centre enables easier global business operations and investor confidence.

Corporate Structure

The location supports flexible corporate structures, which is a common practice for holding companies in the technology and financial markets.

Attribute

Description

Vision Statement

Explicit wording as a formal vision statement is not readily available in the provided sources.

Mission Emphasis

The company’s communications consistently emphasize its mission to deliver high-speed solutions that break bandwidth barriers across every wired connection in the data infrastructure market Investors Portal.

Core Values

Focus on transparency, integrity, superior technical solutions, sustainability, and employee growth DCF Modeling.

Future Focus Area

Projected Direction and Strategic Emphasis

Technological Innovation

Continued development of cutting-edge, high-speed semiconductor solutions and mixed-signal IP to address ever-growing data demands Investors Portal.

Market Leadership

Strengthening its positioning in data centers and enterprise networking through superior performance and cost efficiency.

Sustainability and ESG

Emphasis on reducing environmental impact, implementing circular economy principles, and leveraging renewable energy in manufacturing DCF Modeling, ESG Report.

Customer-Centric Growth

Tailoring innovative solutions to evolving customer needs through advanced diagnostic tools, robust connectivity, and strategic collaborations.

Summary Aspect

Detail

Vision Statement

Not formally stated, but the underlying strategic intent is clear through mission and core value statements.

Future Direction

Focused on technological leadership, market performance, sustainability, and tailored high-speed connectivity solutions.

Category

Details

Mission Statement

Deliver high-speed solutions to break bandwidth barriers on every wired connection in the data infrastructure market Investor Relations, Company Website.

Key Components

- High-speed connectivity solutions- Enhanced power efficiency- Secure and cost-effective offerings aiming to address exponential data and bandwidth growth

Corporate Strategy

Focus on innovation in semiconductor and connectivity solutions by leveraging a robust portfolio of technologies (e.g., SerDes) and intellectual property, investing in R&D, and targeting key segments such as data centers and enterprise networking DCF Modeling.

Alignment of Mission and Strategy

The mission's focus on breaking bandwidth barriers is directly supported by the company's strategy of developing advanced, power-efficient, and secure connectivity solutions. By addressing emerging infrastructure demands and investing in innovative technologies, Credo ensures its strategic objectives are in lockstep with its mission to facilitate high-speed data transmission across wired connections.

Core Value

Description

Operational Integration

Cutting-edge Technological Development

Focus on advanced high-speed semiconductor and connectivity solutions.

Drives consistent R&D investments and product innovation tailored for advanced data infrastructure requirements Investors Credo.

Superior Technological Solutions Tailored to Customer Needs

Commitment to offering products that address specific performance and efficiency challenges.

Integrates customer feedback into design cycles and product development, ensuring solutions meet diverse market demands DCF Modeling.

Transparency and Integrity

Dedication to ethical business practices and clear corporate communication.

Incorporated through robust ESG reporting and corporate governance policies, demonstrating accountability and openness in operations Business Wire.

Environmental Stewardship

Focus on reducing environmental impact in semiconductor manufacturing.

Operationalized by using renewable energy (42% of total consumption) and implementing circular economy principles in manufacturing processes DCF Modeling.

Employee Growth and Inclusive Work Environment

Commitment to investing in employee development and fostering inclusivity.

Reflected in HR policies, empowerment programs, and community engagement initiatives that support employee growth and diversity DCF Modeling.

Source

Rating

Number of Ratings

Average Target Price

Key Observations

MarketBeat

Moderate Buy

N/A

N/A

While maintaining a Moderate Buy rating, top-rated analysts have identified five alternative stocks considered better buys MarketBeat.

Reuters

Buy

N/A

~$84.00

Reuters data highlights that the consensus among brokers is “Buy”, supported by earnings beats and a strong Q3 performance Reuters.

MarketWatch

Buy

14

$85.23

Consensus is Buy with 11 out of 14 ratings being either “strong buy” or “buy”, reflecting an overall positive sentiment MarketWatch.

Category

Metric/Observation

Value/Detail

Q3 Revenue

Total Q3 Revenue

$135 million

Revenue Growth

Year-Over-Year Growth

154%

Revenue Growth

Sequential Growth

87%

Gross Margin (GAAP)

GAAP Gross Margin

63.6%

Gross Margin (Non-GAAP)

Non-GAAP Gross Margin

63.8%

Net Income

GAAP Net Income

$29.4 million

Net Income

Non-GAAP Net Income

$45.4 million

Customer Concentration

Largest customer revenue share in Q3

86%

Q4 Guidance

Expected Q4 Revenue

$155 - $165 million

Insight Area

Details

Growth Prospects

Analysts underscore robust Q3 performance driven by Credo’s leading AEC product line, with expansion into PCIe retimer solutions expected to enlarge the total addressable market. TipRanks

Earnings Beat

Recent quarterly earnings surpassed expectations, with revenue and EPS figures exceeding prior estimates; this led to a consensus Buy rating from several financial data providers.

Risk Factors

A notable risk is the significant concentration of revenue from one customer (86% of Q3 revenue), though future diversification is anticipated with additional customers contributing over 10% of revenue. GuruFocus

Aspect

Description

Public Listing

Listed on NASDAQ under the ticker CRDO, Credo is a publicly traded company.

Incorporation

While its common stock is traded publicly, the company is structured as a holding company with its corporate address in the Cayman Islands (via Maples Corporate Services Limited).

Share Type

The company issues common stock, which indicates it is not a subsidiary of another entity but operates as an independent public entity.

Governance Element

Impact and Description

Regulatory Oversight

As a public company, Credo must adhere to strict reporting and regulatory frameworks (e.g., SEC requirements), ensuring transparency and accountability. SEC.gov

Board Structure

The company maintains a diverse and independent Board of Directors that oversees ethical practices and strategic direction. Its governance, including ESG and ethical business practices, is central to operations as seen in its public ESG disclosure. Credo ESG Governance

Disclosure & Compliance

Public status imposes obligations for regular disclosures, adherence to high ethical standards and effective risk management, ultimately enhancing stakeholder trust.

Strategic Guidance

Governance practices are bolstered by comprehensive reporting systems (e.g., ESG reports), ensuring that the company aligns its strategic decisions with public accountability standards.

Policy Category

Policy Focus

Impact on Credo Technology Group Holding Ltd

Citation

Environmental Regulations

Mandates on measuring and reducing greenhouse gas (GHG) emissions, energy efficiency requirements

Drives Credo’s ESG initiatives and investments in environmental stewardship. Compliance with stringent GHG measurement protocols helps position the company as a responsible and sustainable innovator in high-speed connectivity solutions.

Credo 2024 ESG Report

Trade and Export Control Policies

Regulations impacting export control, technological transfer, and international trade of critical technology

Affects market access and imposes compliance requirements for the transfer of high-performance communication and connectivity technologies. These policies may influence Credo’s strategic decisions regarding research, licensing, and global operations.

SEC Filing

Anti-Corruption & Government Interaction Policies

Legislation that governs gifts, bribes, and ethical engagements with government employees and officials

The company’s Code of Business Conduct reinforces strict limits on interactions with government personnel. Such policies ensure ethical business practices and compliance with laws that prohibit gifts, bribes, or improper benefits in business dealings with the public sector.

Code of Business Conduct and Ethics

Aspect

Details

Increased Operational Costs

Compliance with environmental and trade regulations often mandates additional reporting, process adaptations, and investments in clean technologies.

Reputation and Market Positioning

Strong adherence to government policies enhances Credo’s reputation as a sustainable and ethical company, potentially leading to better market opportunities and investor confidence.

Strategic Adjustments

Regulations may necessitate adjustments in research, product development, and international market strategies to align with governmental restrictions and incentives.

Institutional Holder

Date Reported

Shares

Value (USD)

Percent Held

Blackrock Inc.

2024-12-31

17,513,421

949,227,431

10.47%

Vanguard Group Inc

2024-12-31

16,357,611

886,582,528

9.78%

JP Morgan Chase & Company

2024-12-31

10,034,885

543,890,774

6.00%

Shaw D.E. & Co., Inc.

2024-12-31

3,971,004

215,228,419

2.37%

State Street Corporation

2024-12-31

3,920,553

212,493,975

2.34%

Capital Research Global Investors

2024-12-31

3,875,130

210,032,048

2.32%

Geode Capital Management, LLC

2024-12-31

3,315,482

179,699,126

1.98%

Point72 Asset Management, L.P.

2024-12-31

3,084,621

167,186,460

1.84%

Swedbank

2024-12-31

2,485,314

134,704,020

1.49%

William Blair Investment Management, LLC

2024-12-31

1,876,758

101,720,285

1.12%

Factor

Impact Description

Validation of Business Model

Large institutional investments (e.g. Blackrock, Vanguard) signal strong confidence in the company’s performance.

Enhanced Liquidity

Significant share volumes held by major institutions contribute to stable liquidity, reducing volatility.

Increased Analyst Coverage

Active institutional investors often lead to more analyst scrutiny, improving transparency and investor awareness Bloomberg.

Positive Signal to Retail Investors

The involvement of reputable institutions can boost retail investor confidence, leading to a more positive market sentiment.

Long-term Investment Orientation

Institutional investors typically hold positions long-term, which may suggest sustained confidence in the company’s strategy.

Fiscal Date

CAPEX (USD)

2023-04-30 (Annual)

-21,713,000

Fiscal Date

Quarter

CAPEX (USD)

2023-04-30

Q4

-3,898,000

2023-07-31

Q1

-5,312,000

2023-10-31

Q2

-2,045,000

2024-01-31

Q3

-5,100,000

Aspect

Implication

Moderate Annual & Quarterly CAPEX

The relatively modest CAPEX levels suggest targeted investments in technology updates or maintenance rather than large-scale capital expansion.

Variation Across Quarters

Fluctuations in CAPEX (ranging from approximately -2.0M to -5.3M USD per quarter) indicate a dynamic, responsive allocation of funds that may reflect seasonal or market-driven strategies.

Asset-Light Business Model

Lower CAPEX expenditures are consistent with a technology company’s focus on digital and intangible assets, implying a strategy that emphasizes innovation and operational efficiency over heavy physical asset investments.

Task Detail

Information Availability

Planned CAPEX Expenditures

Data not available from current reports

Alignment with Strategic Objectives

Data not available from current reports

Aspect

Details

CAPEX Planned Expenditures

The available financial records for Credo Technology Group Holding Ltd do not include planned CAPEX details for the upcoming quarter or year.

Strategic Objectives Alignment

There is no information provided in the available data regarding how any CAPEX expenditures align with the company’s strategic objectives.

Data Source

Public reports from NASDAQ filings did not show the required CAPEX or strategic alignment details NASDAQ.

Key Finding

Summary

Information Availability

Insufficient data to detail planned CAPEX expenditures and alignment with strategic objectives

Period

Event/Development

Source

2008

Company founded; established as a player in high-speed connectivity solutions.

Yahoo Finance, StockAnalysis

Early 2010s

Initial phase of R&D and product development focused on optical and electrical Ethernet connectivity.

Marketscreener

Mid 2010s

Market entry with a diversified product lineup including active electrical cables, digital signal processors, and integrated circuits for connectivity.

Yahoo Finance, FT.com

2020s

Expansion phase marked by a robust patent portfolio (78 granted patents as of December 2023) and development of proprietary 7nm and 5nm process technologies.

DCF Modeling

Present Day

Global market presence with a broad product portfolio including serializer/deserializer chiplets, intellectual property licensing, and solutions for advanced data infrastructure (100G to emerging 1.6T port markets).

Marketscreener, GuruFocus

Phase

Key Developments

Impact

Foundational

Establishment of the company and initiation of R&D in high-speed connectivity solutions.

Set the stage for innovation in data center and enterprise networking markets.

Development

Diversification into products such as HiWire active electrical cables, optical digital signal processors, and low-power line card PHY.

Expanded product portfolio to address a wider range of connectivity challenges.

Innovation

Advanced semiconductor design with proprietary 7nm and 5nm process technologies; further development of serializer/deserializer chiplets and DSP technologies.

Enabled the company to deliver high-speed, power-efficient connectivity solutions and capture emerging markets (100G, 200G, 400G, 800G, and 1.6T); bolstered IP licensing capabilities.

Metric

Value

Source

Revenue (TTM)

~$245.59 million

FT.com

Net Income (TTM)

-$23.81 million

FT.com

Market Capitalization

~$11.93B (as per Nasdaq data)

Yahoo Finance

Patent Portfolio

78 granted patents (as of Dec 2023)

DCF Modeling

Achievement/Attribute

Available Information

Influence on Growth

High-Performance Connectivity Solutions

Specialized in high-speed networks and data infrastructure Credo Technology

Enhances data transmission efficiency and meets growing bandwidth demand, facilitating market expansion.

Advanced Semiconductor & Optical Components

Provides cutting-edge semiconductors and optical components essential for data centers and hyperscale cloud networks.

Supports robust network architectures which translates into strategic market positioning.

Energy-Efficient Designs and Sustainability

Focus on energy-efficient designs contributing to green computing solutions Wikipedia

Attracts sustainability-focused clients and reduces operational costs.

Strategic Industry Partnerships

Engages with key players in enterprise, cloud, and service provider segments

Enables entry into broader markets and reinforces competitive technological leadership.

Financial Metric

Data Point

Notes

Market Capitalization

$9,920,117,760

Reflects overall market confidence in growth

Enterprise Value

$8,065,230,848

Indicates firm’s scale and market position

Revenue (TTM)

$245,588,000

Revenue growth correlates with market expansion

Gross Margin

63.18%

High margins indicate strong product value

Change Event

Previous Leader

New Leader

Date of Change

Key Expertise of New Leader

Impact on Company Direction

Chief Legal Officer Transition (1)

Adam Thorngate-Gottlund

Kate Schuelke

January 2024

Over 30 years in legal technology, corporate governance, intellectual property, litigation, compliance, M&A, and regulatory issues (experience from Seagate Technology LLC and Altera Corporation) MarketScreener

Introduced robust legal oversight and strategic governance to manage growth in technology innovations and intellectual property, setting the stage for further leadership enhancements.

Chief Legal Officer Transition (2)

Kate Schuelke (prior transition)

Jim Laufman

August 2024

Extensive experience in legal departments at public companies (Integrated Device Technology, Marvell Technology, Infinera Corporation, Automation Anywhere) with broad expertise in corporate governance, M&A, contract negotiation, litigation management, and risk management Business Wire

Emphasizes managing growth opportunities in connectivity and consolidates strategic legal functions to support the company’s pioneering initiatives in high-speed connectivity and advanced product lines.

Leadership Position

Current Leader

Tenure

Notable Leadership Impact

Chief Executive Officer

Bill Brennan

Since September 2014 (10.5 years)

Stable executive leadership with consistent focus on transformation and strategic expansion in connectivity solutions; his long tenure provides continuity while addressing evolving market needs Simply Wall St.

Chairman (Board)

Lip-Bu Tan (Independent Chairman)

5.4 years

Inclusion of industry veterans to strengthen board oversight and governance, supporting the company’s strategic direction and innovation drive.

Key Impact Area

Description

Strategic Legal Oversight

The recurring changes in the Chief Legal Officer role have been geared towards infusing the leadership team with deep legal and industry expertise, thereby ensuring robust compliance, effective risk management, and agile response to market opportunities.

Innovation & Growth Focus

The appointments, particularly of Jim Laufman, align with the company’s focus on pioneering high-speed connectivity and active electrical cables, providing the legal framework required for rapid expansion and merger/acquisition activities.

Governance & Board Strengthening

The addition and refreshment of board members, alongside stable CEO leadership, aims to balance short-term market challenges with long-term growth strategies.

Event Description

Date Published

Involved Entity

Reported Impact

Strategic Acquisition

November 05, 2024

Vanguard Group Inc

Increased institutional interest, potential for enhanced market credibility and capital backing GuruFocus

Stake Expansion

December 07, 2024

BlackRock, Inc.

Reflects strengthened investor confidence and market support; may boost liquidity and long-term growth prospects GuruFocus

Activity Description

Related Event / Detail

Impact

Participation in Industry Conferences

Chiplet Summit Conference involvement

Enhances industry standards and showcases product innovation; builds strategic alliances and may fuel further growth StocksToTrade

Area

Impact Summary

Institutional Transactions

Both the acquisition by Vanguard and the stake expansion by BlackRock underline increased

Parameter

Description

Business Model Type

B2B (Business-to-Business)

Primary Offerings

High-performance semiconductors, optical components, and system-level connectivity solutions

Revenue Generation

Direct sales of products and solutions to technology companies, data centers, hyperscale cloud providers, service providers, and enterprise networks

Target Customers

Data centers, hyperscale cloud operators, service providers, enterprise networks

Value Proposition

Enhancing network efficiency and optimizing bandwidth through cutting-edge, energy-efficient technology solutions

Market Position

Focused on modern high-speed networks and critical connectivity infrastructure

Period

Business Model Stage

Key Features

Sources

Founding (2007)

Startup & Early Innovation

Focus on developing advanced semiconductor connectivity solutions, particularly serializer/deserializer (SerDes) chipsets for data centers and networking markets.

CanvasBusinessModel

Pre-IPO Period

Growth & Portfolio Expansion

Significant investments in R&D; expansion into high-speed connectivity products such as retimers, gearbox, and crosslink products; development of proprietary chiplet and advanced packaging technologies.

DCF Modeling

Post-IPO (2022+)

Public Company & Broad Market Focus

Transition to public markets through the IPO; increased scale, a broader product portfolio covering multiple high-speed interconnect technologies; deeper market penetration into data center, AI, and cloud networking segments; integration of ESG considerations into business practices.

SEC.gov

Factor

Description

Impact on Business Model

Sources

Technological Advancements

Rapid innovation in semiconductor design and manufacturing processes (7nm, 5nm processes, advanced chiplet design).

Drove continuous R&D investments and added advanced product lines.

CanvasBusinessModel

Evolving Market Demands

Increased demand for higher-speed, efficient data transmission due to the growth of data centers, AI, and cloud computing.

Led to a strategic shift towards diversified, high-performance connectivity solutions.

DCF Modeling

Strategic Partnerships & R&D

Collaboration with major technology firms and consistent investment in R&D.

Enabled product innovation, accelerated technology adoption, and market expansion.

DCF Modeling

Transition to Public Markets

The IPO in 2022 provided increased capital and visibility.

Allowed scaling operations, diversification of revenue streams, and integration of robust ESG practices.

SEC.gov

Category

Description

Core Mission

Deliver high-speed, secure connectivity solutions to break bandwidth barriers in the data infrastructure market (Investors).

Customer Problems Addressed

Bandwidth bottlenecks in data centers and telecommunications networks; need for rapid deployment, improved power efficiency, and enhanced performance as data rates increase.

Component

Description

Advanced Connectivity Solutions

Provides 100G/400G Ethernet connectivity solutions and custom design services aimed at high-speed data transmission and efficient interconnect technologies.

Innovative Technologies

Utilizes next-generation PCIe 6/7 and CXL retimers and AECs to deliver industry-leading performance and power efficiency (Investors).

Diagnostic and Debug Tools

Offers enhanced diagnostic tools (embedded logic analyzer and advanced SerDes tools) through an intuitive GUI, facilitating rapid system bring-up and troubleshooting.

Significant R&D Investment

Demonstrates commitment through substantial R&D expenditures (e.g., $27.4 million in FY 2023 representing 47.3% of total revenue), ensuring continuous innovation and technological leadership (DCF Modeling).

Customer Need

Credo's Solution

High-Speed Connectivity

Delivers state-of-the-art Ethernet solutions to support increasing data rates and connectivity demands.

Bandwidth Efficiency

Breaks the bandwidth barrier on every wired connection to improve performance and prevent data bottlenecks.

Rapid Deployment and Maintenance

Offers advanced diagnostic tools and streamlined system bring-up to reduce downtime and facilitate quick resolution of network issues.

Cost-Effective Innovation

Combines significant investments in R&D and intellectual property with cost structure optimizations to provide innovative and efficient connectivity solutions at scale.

Financial Metric

Value

R&D Expenses

$27.4 million (47.3% of total revenue)

Talent Acquisition Investment

~$8.3 million

Manufacturing & Prototyping Expenses

$12.7 million

Sales & Marketing Investment

$7.9 million

Attribute

Description

Advanced Semiconductor Tech

Offers high-speed SerDes and connectivity solutions enabling faster data transmission with lower power consumption.

Energy & Cost Efficiency

Provides low-power connectivity solutions that balance performance and energy efficiency, reducing both financial and environmental costs.

Innovation & IP

Leverages a strong patent portfolio (78 granted patents as of December 2023) and proprietary 7nm/5nm design processes to differentiate its products.

Customer Segment

Market Context/Value Points

Data Center Operators

Global data center market valued at $287.7B (Q4 2023).

Cloud Computing Providers (Hyperscalers)

Targeting major cloud providers with advanced interconnect technologies.

Telecommunications & Enterprise Networking

Telecommunications market ($371.4B in 2023) and enterprise networking market ($242.6B in 2023).

Channel/Relationship Type

Description

Direct Product Sales

Sells high-speed connectivity solutions directly to OEMs, original design manufacturers, and module manufacturers.

Intellectual Property Licensing

Generates revenue through licensing its SerDes IP to various partners.

Custom Design & Consultation Services

Provides custom design services and technology consultation contracts to tailor solutions for specialized customer needs.

Revenue Source

FY2023 Amount

Additional Details

Direct Product Sales

$18.7 million total

- 100G/400G Ethernet: $12.3M

- Custom design services: $6.5M

- Technology consultation: $2.8M (part of overall product sales)

Intellectual Property Licensing

$4.2 million

Represents 22% of total revenue.

Royalties from Semiconductor Design Implementations

$3.6 million

- Additional revenue stream from design royalties.

Cost Category

FY2023 Amount

Percentage/Notes

Research & Development (R&D)

$27.4 million

47.3% of total revenue.

Talent Acquisition & Retention

$8.3 million

Investment in human capital.

Intellectual Property Development

$5.6 million

Focused on enhancing IP portfolio.

Manufacturing & Prototyping Expenses

$12.7 million

Covers production costs.

Sales & Marketing

$7.9 million

Investment in market expansion and customer engagement.

Factor

Characteristics

Details and Inferences

Demographic

Business Entities, Corporate Roles

Target customers are primarily organizations and business units in the tech and data infrastructure sectors. Key decision makers likely include CTOs, CIOs, and system engineers. Credo Investor Relations

Psychographic

Innovation & Technology Focus

Customers value high-speed performance, efficiency, and innovative connectivity solutions. They are inclined toward adopting state-of-the-art technological solutions to overcome bandwidth and connectivity challenges. Simon-Kucher

Geographic

Global with Regional Foci

While detailed geographic segmentation is not fully disclosed, Credo’s participation in global summits (e.g. OCP Global Summit) indicates a worldwide customer base. Likely regions include North America, Asia, and Europe.

Behavioral

Early Adoption & High-Value Purchases

Customers typically demonstrate a willingness to invest in advanced diagnostics and connectivity technologies. They value power efficiency and rapid integration tools (such as embedded logic analyzers and advanced SerDes tools) and are likely repetitive buyers focused on long-term infrastructure performance. Credo Investor Relations

Segment Name

Description

Key Needs

Representative Characteristics

OEMs & System Integrators

Companies integrating Credo’s components into larger systems for final market deployment.

High performance, industry-leading efficiency, and streamlined integration.

Corporate procurement, technology innovation-focused, global reach.

Data Center Operators & Cloud Service Providers

Organizations building and operating data centers that require high-speed connectivity solutions.

Reliability, bandwidth expansion, power efficiency.

B2B market, consistent technology upgrade cycles, global/tech hubs.

Telecommunications & Network Providers

Firms in communications that need to sustain rapid data transfer as part of their network infrastructure.

Secure, scalable, and sustainable connectivity solutions.

Focus on next-generation tech, early adopters of PCIe 6/7 and CXL technology.

Channel Type

Delivery Method

Description

Direct Sales

Direct B2B Engagement

Credo sells its connectivity solutions (e.g., SerDes IP, integrated circuits, active electrical cables) directly to hyperscalers, original equipment manufacturers (OEMs), and original design manufacturers (ODMs). Direct sales include personalized support, evaluation boards, and comprehensive technical documentation (e.g., design libraries, simulation models). Credo Investors

OEM & Partner Sales

Manufacturing Partners

Products are designed to be integrated into larger systems and sold by OEMs and design service providers. This approach ensures tailored solutions for specific customer requirements (e.g., AI, data centers, telecom).

Online Information

Website & Email Contacts

Credo’s website (https://credosemi.com/) serves as an online platform providing product details, technical documentation, and contact information (such as direct sales e-mail for inquiries). This digital avenue assists in engaging with partners and potential clients globally.

Parameter

Detail

Primary customers

Hyperscalers, OEMs, ODMs, and optical module manufacturers

Sales Model Used

Direct sales through B2B engagement and partnerships

Physical Retail Presence

None; distribution is via B2B channels

Online Platforms

Corporate website, investor relations portal, and technical documentation pages

Category

Details

Source

Primary Revenue Stream

Product sales of semiconductors, optical components, and connectivity solutions that support data centers, hyperscale cloud, and enterprise networks.

Company profile (Credo Technology Group)

Additional Monetization Strategies

Not explicitly detailed in the provided financials and company profile.

Potential avenues (not confirmed): licensing, aftermarket services, or technology partnerships were not specifically mentioned in the available data.

Financial and corporate disclosures

KPI

Description

Example/Data Points (if available)

Source

Total Revenue

Measures overall business scale including product sales, product engineering services, and IP licenses.

Q1 FY2025 Total Revenue: ~$59.7M [record product revenue ~$57.3M, up 30% QoQ]

Investor Relations, FT

Product Revenue

Tracks revenue generated from the sale of core products (e.g., AECs, optical DSPs, SerDes Chiplets).

Record product revenues of ~$57.3M in Q1 FY2025 with sequential growth of 30%.

Investor Relations

KPI

Description

Example/Data Points (if available)

Source

Gross Profit & Margin

Indicates production efficiency and pricing strength. Includes both GAAP and Non-GAAP measures.

GAAP gross margin in recent quarters: 62.4% to 65.8%; Non-GAAP figures slightly higher.

Investor Relations

Operating Income/Loss

Measures efficiency of operations after accounting operating expenses such as R&D and SG&A.

Q1 FY2025 GAAP operating loss: ~$14.5M; Non-GAAP operating income turning positive in some periods.

StockTitan, Investor Relations

Net Income

Reflects overall profitability after all expenses. Also measured on GAAP and Non-GAAP basis.

Q1 FY2025 GAAP net loss: ~$9.5M; adjustments via share-based compensation reflected in Non-GAAP.

Investor Relations

KPI

Description

Example/Data Points (if available)

Source

Cash Position

Provides liquidity details to fund growth initiatives, R&D, and operational needs.

Reported cash and short-term investments: ~$398.6M (as per Q1 FY2025 reports).

Yahoo Finance, Investor Relations

KPI

Description

Example/Data Points (if available)

Source

Revenue Growth Rates

Tracks year-over-year (YoY) and quarter-over-quarter (QoQ) growth of major revenue components.

Q1 FY2025 indicated 70% YoY and 30% sequential growth in product revenues.

TipRanks, Investor Relations

Guidance and Forecasts

Future outlook provided by management to benchmark expected revenue and margin performance.

Q2 FY2025 revenue guidance between ~$65M and ~$68M.

Investor Relations

Innovation Category

Description

Benefits

Citation

New Product Lines

Introduction of next-generation products including PCIe 6/7 and CXL retimers, and enhancements in Active Electrical Cables (AECs).

Achieves superior performance and power efficiency, meeting increasing data bandwidth demands.

Credo Investor Relations

Enhanced Diagnostic Tools

Deployment of advanced diagnostic capabilities such as an embedded logic analyzer and SerDes tools integrated with a new GUI interface.

Enables rapid bring up and debugging, reducing time-to-market and improving customer support.

Credo Investor Relations

Adapting Proprietary Technologies

Leveraging its proprietary Serializer/Deserializer (SerDes) and Digital Signal Processor (DSP) technologies across its product families including integrated circuits, AECs, and SerDes Chiplets.

Reinforces competitiveness and technology leadership in connectivity solutions.

Credo Investor Relations

Strategic Revenue Growth Insight

Record revenue performance driven by the AEC product line, as noted in its recent financial results.

Reflects successful market adaptation and growing demand for innovative connectivity solutions.

Business Wire

Metric

Value

Revenue (Q3 FY2025)

$135.0 million

GAAP Diluted Net Income per Share

$0.16

Non-GAAP Diluted Net Income per Share

$0.25

Ending Cash and Short-term Investments

$379.2 million

Category

Details

Employee Count

500 employees Credo Technology Group

Key Executives

- Mr. William J. Brennan (President, CEO & Director) - Mr. Daniel J. O'Neil (Vice President of Corporate Development & Investor Relations) - Mr. Jim Laufman (Chief Legal Officer & Secretary) - Mr. Michael Girvan Lampe (Vice President of Worldwide Sales & Marketing) - Mr. Daniel Fleming (Chief Financial Officer) - Mr. Chi Fung Cheng (Co-founder, CTO & Director) - Mr. Yat Tung Lam (Co-founder, COO & Director)

Category

Details

Proprietary Technology

Credo specializes in connectivity solutions, including high-performance semiconductors, optical components, and system-level solutions designed for modern high-speed networks.

Patents and Trade Secrets

Information on specific patents or trade secrets is not detailed in the available data.

Category

Details

Headquarters

Located in the heart of Silicon Valley; operational details such as facilities for design, manufacturing, or testing are not explicitly provided.

Operational Facilities

Direct details on manufacturing plants, labs, or physical distribution assets are not provided in the available data.

Category

Description

Citation

Technical Support & Diagnostics

Credo’s investor communications refer to new solutions such as enhanced diagnostic tools and GUIs for rapid bring-up and debugging. These features indicate an emphasis on technical support initiated to help customers maximize performance and troubleshoot issues.

Investor Relations

Product-Centric Relationship

The company focuses on delivering high-speed connectivity solutions and power-efficient products, which inherently requires a close, responsive product support environment. While not explicitly stated as personalized assistance, the detailed product suite suggests tailored technical engagements are integral.

Stash

Internal Community Initiatives*

Initiatives like ‘Credo Cares’ are present in broader company communications, reflecting a commitment to community building. Although these efforts focus on employee and social impact activities rather than direct customer engagement, they illustrate the company's broader relationship-building ethos.

Credo Cares

Fiscal Date

Total Sales (USD)

Notes

2024-04-30

192,970,000

Consolidated revenue reported

2023-04-30

184,194,000

Consolidated revenue reported

2022-04-30

106,477,000

Consolidated revenue reported

2021-04-30

58,697,000

Consolidated revenue reported

2020-04-30

53,835,000

Consolidated revenue reported

Revenue Stream Category

Information from Report

Product Sales

Not specifically detailed in available data

Subscriptions

Not specifically detailed in available data

Licensing

Not specifically detailed in available data

Advertising

Not specifically detailed in available data

Category

Details

Citation

General Partnerships

Credo emphasizes building long‐term relationships with its customers and industry participants, which are integral to its innovative connectivity solutions. These relationships may include strategic alliances but are not detailed further in the available disclosures.

SEC Filing

Industry Collaborations

There are indications that Credo collaborates with hyperscalers, network equipment providers, and possibly other technology firms. However, specific partner names and details are not identified in the documented sources.

Credo ESG Report

Category

Details

Citation

Contract Manufacturing

Credo relies on third-party manufacturers to produce its products. This outsourcing arrangement is clearly noted in its regulatory filings, with an emphasis on supplier safety and compliance.

SEC Filing

Supply Chain Management

The ESG report details a focused approach on managing supplier relationships, ensuring quality, safety, and sustainability standards across the supply chain. Detailed supplier names or joint ventures are not specifically disclosed.

Credo ESG Report

Core Activity

Related Actions

Description & Supporting Evidence

Design & Production

Product design, manufacturing, and process optimization

Develops and manufactures high-performance semiconductors, optical components, and system-level solutions tailored for high-speed networks (Credo Technology).

Research & Development

Innovation, energy-efficient design, and technical development

Engages in R&D to create cutting-edge products that optimize bandwidth and support technological shifts in data infrastructure, emphasizing energy efficiency.

Marketing & Sales

Strategic market positioning, industry partnerships, and customer engagement

Executes targeted marketing strategies and builds industry partnerships to serve data centers, hyperscale cloud providers, service providers, and enterprise networks (Credo Technology).

Service Delivery

System-level integration, customer support, and post-sales services

Provides end-to-end connectivity solutions and technical support ensuring seamless integration into digital infrastructures, which reinforces the company’s value proposition.

Description

Amount (USD)

Notes

Sales

184,194,000

Annual sales (2023 fiscal year)

Cost of Goods Sold (COGS)

78,000,000

Typically variable, directly tied to production volumes

Gross Profit

106,194,000

Difference between Sales and COGS

Research and Development (R&D)

76,774,000

Partly fixed, representing sustained investment in innovation

Selling, General & Administrative (SG&A)

48,248,000

Primarily fixed overhead costs

Operating Income

-18,828,000

Operating result after expenses

Cost Component

Classification

Explanation

COGS

Variable

Costs vary with production volume and sales; key driver of expenses.

R&D Expense

Fixed / Semi-variable

Represents committed long-term investment; less sensitive to short-term volume fluctuations.

SG&A Expense

Fixed

Includes infrastructure, salaries, and overhead not directly fluctuating with sales volume.

Advantage

Details

High Gross Margin

At approximately 63.18%, the high gross margin suggests effective cost management in production, reflecting competitive pricing and cost control.

Sustained R&D Investment

Significant spending on R&D indicates a commitment to innovation, potentially lowering long‐term costs through technological advancement and creating industry-leading products.

Financial Flexibility

A strong balance sheet, with robust cash balances and controlled debt levels, offers the flexibility to invest in cost optimization and operational efficiencies.

Factor

Description

Core Offering

High-performance semiconductors, optical components, and connectivity solutions for data centers, hyperscale cloud, and enterprise networks Credo Technology Group Holding Ltd Website.

Scalability Approach

Focus on critical high-speed network connectivity optimized for bandwidth and efficient data transmission.

Sustainability Commitment

Emphasis on energy-efficient designs and green computing solutions, reducing operational costs and environmental impact.

Market Adaptability

Continuous innovation, strategic market partnerships and responsiveness to evolving digital infrastructure needs.

Initiatives

Description

Product Innovation

Investment in cutting-edge, energy-efficient designs to enhance network performance and reliability.

Strategic Partnerships

Collaborations within the tech and data centers sectors to ensure robust supply chains and market penetration.

Cost Efficiency

Focus on reducing operational costs while optimizing high-speed data transmission solutions.

R&D and Technology Advances

Commitment to research and development geared towards innovative connectivity solutions adapting to market changes.

Time Period

Growth Estimate

Current Quarter

3.5778%

Next Quarter

2.2317%

Current Year

4.697%

Next Year

0.9902%

Time Frame

Strong Buy

Buy

Hold

Sell

Strong Sell

Current Month

4

7

1

0

0

Previous Month

5

7

1

0

0

2 Months Ago

5

7

1

0

0

Key Aspect

Correlation to Sustainability/Scalability

Innovative Products

Enhance network efficiency, meeting market demand for data transmission solutions.

Energy Efficiency

Driving sustainability via green computing initiatives.

Adaptability

Agile response to market changes through R&D and strategic partnerships.

Financial Stability

Positive growth estimates and favorable analyst ratings support sustainable scalability.

Differentiation Factor

Unique Innovative Practices

Data/Examples

High-Speed Connectivity

Develops advanced interconnect solutions targeted for data centers and AI infrastructure

Products include smart copper cables, Active Electric Cables (AEC), PCIe 6/7 and CXL retimers Source

Advanced Diagnostic Tools

Integrates embedded logic analyzers and advanced SerDes tools with new graphical user interfaces for rapid debugging

Enhances troubleshooting and product integration for complex data infrastructure needs

Power Efficiency and Signal Integrity

Focus on increasing power efficiency while maintaining signal integrity amid growing bandwidth demands

Differentiates by addressing thermal and energy efficiency challenges unique to AI cluster evolution

Component

Unique Features/Practices

Financial/Operational Data

R&D Investment

Strong emphasis on R&D to drive product innovation and secure intellectual property

FY2023 R&D expenses reached $27.4 million representing 47.3% of total revenue Source

Diverse Revenue Streams

Revenue is derived from multiple sources: direct product sales, custom design services, IP licensing, and royalties

For instance, in FY2023, intellectual property licensing contributed $4.2 million (22% of revenue) and product sales $18.7 million

Strategic Cost Allocation

Significant spending on talent acquisition, IP development, and manufacturing ensures market-leading product performance

Fiscal 2023 investments: $8.3M in talent, $5.6M in IP development, and $12.7M in manufacturing and prototyping

Aspect

Unique Innovative Practices

Market Positioning/Customer Example

Targeting Data Center and AI Markets

Focuses on serving hyperscale data centers and cloud computing providers with tailor-made high-speed connectivity solutions

Global data center market valued at $287.7B; targets major cloud operators and hyperscale players Source

Customization and Consultation

Provides custom connectivity solutions, design services, and technology consultations to meet client-specific needs

Diversified revenue through custom design services and technology consultation contracts

Focus Area

Unique Innovative Practices

Additional Details/Citations

Integration in AI Infrastructures

Successfully leverages the AI boom by introducing connectivity products that address high bandwidth demands in data centers

Recent focus on AI-driven expansion in data infrastructure Source

Enhanced Diagnostic and Debugging Solutions

Adoption of state-of-the-art diagnostic tools that accelerate product bring-up and debugging processes

Innovations lead to faster implementation cycles and improved reliability

Strategy Component

Observations

Pricing Models

No detailed information on specific pricing models was provided. The data does not indicate if the company employs cost-based pricing, value-based pricing, or subscription-based pricing.

Bundling

There is no specific mention of bundling practices or package deals in the provided information.

Tiered Offerings

No explicit reference to tiered or layered product offerings is available in the disclosed data.

Financial Metric

Value

Market Capitalization

9,920,117,760 USD

Enterprise Value

8,065,230,848 USD

Revenue (TTM)

245,588,000 USD

Gross Margin

63.18%

Risk/Challenge

Details

Potential Impact

Source

Operating Losses

The company has experienced operating losses, affecting profitability.

Financial strain; limits capacity for reinvestment and growth initiatives

GuruFocus

Customer Concentration Risk

High reliance on a limited set of major customers.

Revenue instability; vulnerability to loss or changes in customer demand

GuruFocus

Dependence on Third-Party Suppliers

Heavy reliance on external suppliers and manufacturers.

Supply chain disruptions; potential quality control issues; increased operational risks

GuruFocus

Competitive Pressures

Intense competition in the technology sector, compounded by macroeconomic factors.

Erosion of market share; pressure on pricing and profit margins

GuruFocus \

Regulatory Pressures

Exposure to evolving technology regulations including data privacy and cybersecurity.

Increased compliance costs; potential legal risks and operational disruptions due to regulatory changes

Limited detailed information in current sources

Factor

Explanation

Macroeconomic Influences

Broader economic conditions could compound competitive and regulatory challenges.

Market Expansion Strategies

While the company is investing in growth initiatives, these also carry execution risks.

Financial Metric

Detail/Observation

Operating Losses

Reported but no specific numeric value provided.

Revenue Growth

The company has shown robust revenue growth, yet losses persist.

Offering Category

Description

High-Performance Semiconductors

Designed to optimize bandwidth for modern high-speed networks and data infrastructure.

Optical Components

Critical for ensuring efficient optical data transmission in high-speed networks.

System-Level Solutions

Integrated solutions that combine semiconductors and optical components to support data centers, hyperscale clouds, service providers, and enterprise networks.

Positioning Aspect

Details

Connectivity Solutions

Credo is a provider of connectivity solutions essential for modern high-speed networks and data infrastructure, ensuring efficient data transmission.

Network Efficiency

The product portfolio is geared towards optimizing bandwidth and delivering faster, more reliable data flows, positioning Credo as a key enabler in digital infrastructure.

Green Computing & Sustainability

Focused on energy-efficient designs and extensive industry partnerships, supporting the broader market imperative towards sustainable tech advancements.

Market Expansion

Serves various critical segments including data centers, hyperscale cloud operators, service providers, and enterprise networks, making it a significant player in the technology and semiconductors industry.

Flagship Product/Service

Description

High-Performance Semiconductors

Designed to enhance the speed and reliability of data transmission by optimizing bandwidth.

Optical Components

Critical for accurate and efficient data transmission within optical networks.

System-Level Solutions

Integrated hardware and software solutions that ensure seamless connectivity and support modern network architectures.

Aspect

Details

Connectivity

Provides the essential links for modern high-speed networks.

Energy-Efficient Design

Focus on reducing operational costs and supporting green computing.

Global Market Impact

Supports data centers, hyperscale cloud, service providers, and enterprise networks, ensuring robust digital infrastructure.

Task Query

Are there any flagship products or services for which Credo Technology Group Holding Ltd is particularly known?

Conclusion

Credo Technology Group Holding Ltd is primarily known for its advanced connectivity solutions. The company's flagship offerings include high-performance semiconductors, optical components, and comprehensive system-level solutions, all pivotal in modernizing global connectivity.

Product/Service

Key Features & Innovations

Market Need Addressed

3.2Tbps DSP Connectivity Chiplet

56Gbps Lane Rates; accelerates time-to-market for multi-chip module ASICs

High-speed data connectivity for hyperscale and telecom networks

LP SWITCH AEC Family Extension to 200G

Extended capabilities with 4x56G, includes PAM4 support

Enhanced connectivity and performance in hyperscale data centers and telecom service providers

800G HiWire Active Electrical Cables

Designed for next generation decentralized data centers and AI servers

Addresses the need for high-bandwidth, energy-efficient interconnects in data centers and AI-driven environments

PCIe 6/7 and CXL Retimers with AEC PCI Express Product Line

New levels of performance and power efficiency; integrated diagnostic tools (embedded logic analyzer and SerDes tools)

Supports advanced compute infrastructures requiring robust, error-minimized data transfer speeds

400G/800G MACsec Devices

Provides secure, high-speed data transfer solutions

Enhances security in hyperscale, cloud, and enterprise data centers

Seagull PAM4 DSP Family (including Seagull 110, XR8, 200, 50)

Designed for high-density data and optical signal processing; supports dense data center and 5G applications

Facilitates high performance in data centers and wireless networks, addressing capacity and speed challenges

HiWire SHIFT AEC

Supports 400G Q112 network ports

Caters to growing AI/ML backend networks particularly in markets like China

HiWire AECS

Engineered for active electrical cable solutions supporting 400G AI/ML backend networks

Meets demands for efficient and fast data transmission in next-generation AI and machine learning environments

Differentiated Feature

Description

Reference

Proprietary Mixed-Signal Architecture

Credo leverages its unique, patented mixed-signal architecture to deliver high performance and power efficiency using mature fabrication processes. This contrasts with competitors relying on power-hungry DSP approaches.

Credo Company, A&E Investments

High-Speed and Low-Power Connectivity

Credo has pioneered industry firsts (e.g., CMOS 50G NRZ and 100G PAM4) and supports lane rates up to 112G. Its solutions enable connectivity capabilities scaling to 800G ports and over 52.1Tbps, addressing exponential bandwidth demands.

Credo Products, Yahoo Finance

Comprehensive Product Portfolio

The company offers a broad array of products including SerDes IP, retimers, gearboxes, MACsec devices, optical devices, and active electrical cables, thereby serving multiple market segments such as hyperscale data centers, AI, and 5G telecom.

Credo Products, Credo Line Card

Advanced Integration Tools

Enhanced system-level integration is supported by embedded logic analyzers, complete SDKs, and advanced diagnostic tools designed to facilitate rapid bring-up, debug, and system-level integration, streamlining time-to-market.

Investor Overview

Manufacturing Efficiency

Credo infuses manufacturing advantages through high-yield n-1 process nodes and advanced packaging, which contribute to lower power consumption and cost optimization, making their solutions economically competitive.

Credo Company

Strategy Component

Details

Impact on Product Innovation

Advanced Semiconductor Development

Focus on designing high-performance semiconductors and optical components critical for modern high-speed networks. Credo Website

Enables development of products that optimize bandwidth and support reliable data transmission.

Energy-Efficient Design

Emphasis on energy-efficient product designs that contribute to reduced operational costs and green computing initiatives. Credo Website

Drives the creation of sustainable and cost-effective connectivity solutions.

Strategic Industry Partnerships

Leveraging extensive collaborations with key industry players to align innovations with market needs. Credo Website

Enhances R&D outcomes by integrating advanced technologies and accelerating product developments.

Innovation Driver

Description

Example/Outcome

Cutting-Edge Technology

Adoption of the latest technological advances in connectivity, semiconductor, and optical domains.

Development of products that support seamless global connectivity.

Tailored Solutions for High-Speed Data Transmission

Product design aimed at meeting the increasing demands of data centers, hyperscale clouds, and enterprise networks.

Innovative product portfolio ensuring high-speed, reliable data infrastructure.

Integration of Sustainability

Incorporating green computing initiatives into product development to meet modern efficiency requirements.

Energy-efficient connectivity solutions that reduce operational overhead.

Industry

Description

Reference

Semiconductors

Provides high-speed connectivity solutions based on Serializer/Deserializer (SerDes) and Digital Signal Processor (DSP) technologies, including integrated circuits for optical and line card markets.

Reuters, Yahoo Finance

Data Infrastructure

Offers optimized connectivity solutions for optical and electrical Ethernet applications, addressing increasing bandwidth requirements for data centers and high-performance computing.

Reuters, Marketscreener

Technology Hardware & Equipment

Operates within the broad technology sector as part of the technology hardware and equipment industry, delivering products that are used by hyperscalers, OEMs, ODMs, and other key market players.

CSIMarket, Yahoo Finance

Measurement Aspect

Details

Reference

Revenue-Based Comparison

Market share is calculated based on total revenue relative to competitors within the Semiconductors and Technology sectors.

CSIMarket

Relative Market Presence

As of Q3 2024, Credo Technology Group Holding Ltd is evaluated against its peers. However, precise numerical market share percentages are not disclosed in the available sources.

CSIMarket

Trend

Description

Supporting Source

High-Speed Connectivity Demand

Increasing global demand for fast and energy-efficient connectivity driven by rising data infrastructure needs.

TipRanks, StockTitan

PCIe Technology Advancements

Introduction of PCIe retimers and alignment with PCIe 5.0 standards to meet stringent performance protocols, expanding the product line and market reach.

StocksToTrade, GuruFocus

AI Inference Market Growth

Increased deployment and adoption of AI inference boosting the need for scalable, high-speed connectivity solutions, particularly benefiting the AEC product line.

GuruFocus

Hyperscale Data Center Expansion

Partnerships and volume production with hyperscalers indicate a shift toward diversification and a growing need for connectivity solutions in large-scale data centers.

GuruFocus

Energy Efficiency Focus

Market demands for energy efficiency in data transmission are driving innovations in connectivity solutions to lower operational costs.

TipRanks

Observation

Details

Source

Customer Concentration Risk

With significant revenue contribution from a single large customer (86% in Q3), industry trends also include the need for diversification to mitigate risks.

GuruFocus

Strategic Market Expansion

The introduction of new products such as PCIe switching and expansion into multiple customer segments illustrate an evolving market dynamic.

StocksToTrade, TradingView

Criteria

Positioning Choice

Supporting Evidence

Reference URL

Innovation

Innovator and Technology Leader

Credo’s focus on high-speed, high-efficiency connectivity solutions, PCIe 6/7 and CXL retimers, and advanced diagnostic tools underscores its commitment to innovation.

Investor Relations

Market Leadership

Leader in Technological Edge

Credo is described as having a diversified product portfolio with a strong growth trajectory and technological leadership within the data infrastructure market.

GuruFocus

Cost Management

Not a Cost-Leader

There is no indication that Credo’s main competitive advantage comes from cost reduction; rather, its value is derived from innovation and performance.

Seeking Alpha

Aspect

Detail

Primary Positioning Focus

Technological innovation and leadership in high-speed connectivity solutions for data infrastructure markets.

Core Competencies

Innovative product development, continued R&D investment, and leveraging market timing to capitalize on AI-driven expansions.

Competitive Strategy

Positioning as a technology leader rather than competing primarily on cost, emphasizing performance and product differentiation.

Period

Date

Average Estimate (USD)

Low Estimate (USD)

High Estimate (USD)

Year Ago Sales (USD)

Sales Growth

Next Quarter

2025-04-30

136,302,030

132,500,000

140,000,000

60,782,000

1.24

Current Year

2025-04-30

388,825,100

384,200,000

392,000,000

192,970,000

1.01

Next Year

2026-04-30

625,857,790

575,000,000

800,000,000

388,825,100

0.61

Detail

Description

Order Concentration

Record Q3 revenue driven by a significant ramp with the largest hyperscaler, accounting for 86% of revenue (GuruFocus Earnings Call).

Risk Consideration

Potential for revenue gaps if large customer projects end without immediate follow-up orders (GuruFocus Earnings Call).

Client Details

Description

Largest Client

A hyperscaler contributing 86% of Q3 revenue (GuruFocus Earnings Call).

Additional Hyperscalers

3 hyperscalers in volume production and 2 in qualification, with plans to have 3-4 customers contributing more than 10% of revenue in future quarters (GuruFocus Earnings Call).

Project Aspect

Description

AEC Product Line Growth

Strong triple-digit sequential growth and record revenue from the AEC product line indicate successful past projects with hyperscalers (GuruFocus Earnings Call).

Product Certifications

Achievements such as compliance with PCIe 5.0 standards through products like the Toucan retimer reflect milestones in product development (StocksToTrade).

Future Initiative

Description

Expansion into PCIe Ecosystem

Introduction of PCIe products including retimers and potential move into the PCIe switching ecosystem (GuruFocus Earnings Call).

Diversification of Client Base

Expected growth with additional hyperscalers coming into qualification and volume production, aiming for diversified revenue sources in future quarters (GuruFocus Earnings Call).

Product Expansions

Upcoming products include new PCIe 6/7 and CXL retimers along with enhanced solutions targeting AI inference market needs (Investor Relations).

Future Ramp Initiatives

Plans for ramping operations in fiscal ‘26, driven by increased demand and new customer qualifications (GuruFocus Earnings Call).

Competitor

Strengths and Key Highlights

Vertiv (VRT)

• Significantly higher revenue and earnings (Gross Revenue: $6.86B vs. CRDO’s $192.97M).

• Superior net margins (7.72% vs. CRDO’s -9.70%), robust returns on equity (55.33%), and stronger analyst consensus (consensus target price of $139.36 with a higher potential upside).

• High institutional ownership (89.9%) and greater media visibility, which bolster investor confidence MarketBeat.

L3Harris Technologies (LHX)

• Large-cap company with a robust revenue base ($21.33B) and strong target price performance (+25.8% one-year performance).

• Recognized for its stable growth and favorable analyst ratings within the technology sector MarketBeat.

Nokia Oyj (NOK)

• Global telecommunications leader with a substantial revenue base ($20.80B) and proven market presence.

• Well-positioned in the tech and communication equipment space MarketBeat.

Telefonaktiebolaget LM Ericsson (ERIC)

• Established player in network equipment and telecommunications, with high annual revenues ($23.45B) and extensive global operations.

• Maintains a strong brand and product portfolio in the communications industry MarketBeat.

ASE Technology (ASX)

• Prominent in semiconductor and electronic equipment manufacturing with a considerable revenue base ($18.69B).

• Known for its operational scale and manufacturing expertise in the global market MarketBeat.

Ubiquiti (UI)

• Recognized for rapid growth and industry innovation, with a market cap of $22.09B and a growing revenue stream ($1.93B).

• Strong emphasis on wireless connectivity and technology solutions MarketBeat.

Hubbell (HUBB)

• Maintains a stable performance with a substantial revenue figure ($5.63B) and steady market presence.

• Benefits from a diversified product portfolio within the electronic equipment sector MarketBeat.

GlobalFoundries (GFS)

• A leading semiconductor manufacturing firm with significant revenue ($7.39B).

• Focuses on advanced semiconductor fabrication, reinforcing its competitive edge in technology production MarketBeat.

STMicroelectronics (STM)

• Noted for a strong product portfolio and marked earnings improvement (+39.3% one-year performance) with a revenue base of $13.27B.

• Competitive positioning in the semiconductor space MarketBeat.

Flex (FLEX)

• Diversified global supply chain and design services with high revenue levels ($26.42B).

• Offers a broad range of electronics manufacturing services, supporting a diversified client base MarketBeat.

Metric

Vertiv (VRT)

Credo Technology Group (CRDO)

Gross Revenue

$6.86B

$192.97M

Net Income

$460.20M

-$28.37M

Price/Earnings Ratio

74.23

-475.67

Net Margin

7.72%

-9.70%

Return on Equity

55.33%

-2.94%

Institutional Ownership

89.9%

80.5%

Fiscal Year

Sales (USD)

Net Income (USD)

2020

53,835,000

1,329,000

2021

58,697,000

-27,511,000

2022

106,477,000

-22,176,000

2023

184,194,000

-16,547,000

2024

192,970,000

-28,369,000

Observation

Details

Profitability Shift

In 2020 the company recorded a positive net income, while subsequent years have resulted in losses.

Fluctuating Losses

The losses peaked in 2021 and 2024 with -27.51M and -28.37M respectively, and improved temporarily in 2023.

Revenue Growth vs. Losses

Sales have grown substantially from 2020 through 2024, but the cost structure and expenses have driven losses.

Expense-Driven Performance

Elevated R&D and SG&A expenses in later years suggest significant investment, impacting short-term profitability.

Key Factor

Insight/Implication

Operating Expenses

Persistent high R&D and administrative expenditures may indicate strategic investments aimed at future growth.

Revenue vs. Expense Ratio

The expansion in sales has not fully translated to profitability due to increased operational costs.

Profitability Volatility

The isolated profit in 2020 vs. consistent losses later points to fluctuating operational efficiency and cost pressures.

Attribute

Value

Publicly Traded

Yes

Stock Ticker Symbol

CRDO

Exchange

NASDAQ

Market Capitalization

Not provided in available data

Attribute

Detail

Name

Credo Technology Group Holding Ltd.

Industry

Semiconductors / Connectivity Solutions

Website

credosemi.com

Fiscal Year

Sales (USD)

2024

192,970,000

2023

184,194,000

2022

106,477,000

2021

58,697,000

2020

53,835,000

Period

Avg. Estimate (USD)

Low Estimate (USD)

High Estimate (USD)

Next Quarter

136,302,030

132,500,000

140,000,000

Current Year

388,825,100

384,200,000

392,000,000

Next Year

625,857,790

575,000,000

800,000,000

Aspect

Observation

Major Revenue Source

Total sales (revenue) from operations

Revenue Segmentation

No detailed segmentation data available

Diversification Analysis

Limited information; revenue appears concentrated in sales without further documented stream split

Executive

Title

Background

Bill Brennan

Chief Executive Officer (CEO)

Bill Brennan serves as President, Chief Executive Officer, and Director. He leads the company’s overall corporate strategy and operations as evidenced by his role in recent Q2/Q3 2025 earnings calls Investors Page Seeking Alpha.

Dan Fleming

Chief Financial Officer (CFO)

Dan Fleming is responsible for the company's financial management. His participation in the earnings calls highlights his role in presenting quarterly financial updates GuruFocus.

--

Chief Technology Officer (CTO)

No available details regarding a CTO are provided in the available message history.

Position

Company

Tenure

Location

Notable Details & Contributions

Account Manager

Texas Instruments

Jun 1986 – Jan 1993

Dallas, TX, US

Early career role focused on client engagement and product management in semiconductor solutions [LinkedIn].

Vice President

Exis

Jan 1993 – May 2000

US

Leadership role contributing to technology development and market expansion in a competitive tech environment.

Vice President

Marvell Semiconductor

May 2000 – Aug 2011

Santa Clara, CA, US

Oversaw strategic initiatives in one of the leading semiconductor companies, enhancing technical expertise and operational strategy.

Executive Vice President

Vital Connect, Inc.

Aug 2011 – Nov 2013

San Jose, CA, US

Managed executive functions, helping steer the company during a critical phase in technology services.

President & CEO

Credo Technology Group Holding Ltd

Dec 2013 – Present

San Jose, CA, US

At the helm for over a decade, directing the company’s strategy in secure, high-speed connectivity solutions while leveraging extensive semiconductor expertise.

Derived Attribute from Background

Impact on Company Direction

Evidence / Notes

Deep Semiconductor and Technical Expertise

Enables informed decisions on advanced connectivity solutions and robust product development.

Experience at Marvell Semiconductor and Texas Instruments underpins a solid technical foundation. [LinkedIn]

Extensive Managerial and Executive Experience

Provides strategic direction, operational excellence, and stability over a long tenure (10.5 years as CEO).

Leadership roles across multiple tech companies have honed management skills vital for steering Credo’s growth.

Proven Track Record in Technology Sector

Enhances Credo’s market credibility and investor confidence, aligning the company with modern semiconductor trends.

His progression through high-level roles indicates strong execution and strategic planning.

In-depth Exposure to Global Markets and Innovation

Drives robust decision-making regarding product strategy and securing key partnerships in the competitive tech industry.

His roles in previously leading companies have involved scaling businesses and navigating complex financial landscapes.

Fiscal Date

Short Term Debt (USD)

Long Term Debt (USD)

Approx. Total Debt (USD)

2024-04-30

2,741,000

11,133,000

~13,874,000

2023-04-30

2,630,000

12,869,000

~15,499,000

2022-04-30

2,379,000

14,809,000

~17,188,000

Full Name

Title

Notes/Expertise

Bill Brennan

President and CEO

Over 20 years semiconductor-relevant expertise

Lawrence Cheng

CTO and Founder

Experienced in digital and mixed-signal technology

Job Lam

COO and Founder

Operational leadership in semiconductor industry

Dan Fleming

Chief Financial Officer

Financial management expertise

Jim Laufman

Chief Legal Officer

Oversees legal affairs

Dan O’Neil

VP Corporate Development & Investor Relations

Focuses on corporate growth and IR

Haoli Qian, PhD

VP Engineering

Leads engineering initiatives

Yifei Dai

VP Digital Design Engineering

Specializes in digital systems design

Arshan Aga

VP Analog Design

Expert in analog circuit design

Don Barnetson

VP Product, AEC

Oversees product strategy in Active Electrical Cables

Joe Sheredy

VP Systems Engineering

Manages systems engineering projects

Rajan Pai

VP System App. Engineering

Focuses on application engineering

Albert Wu, PhD

VP Operations

Responsible for operational performance

Hal Hawthorne

VP Operations, AEC

Manages operations for AEC segment

Michael Girvan Lampe

VP Worldwide Sales and Marketing

Leads global sales and marketing strategy

Jeff Twombly

VP Business Development

Drives business growth initiatives

Diane Vanasse

VP of Marketing Communications

Oversees marketing communications

Chris Collins

Associate VP of Sales and Marketing for Optical DSPs

Focused on optical digital signal processing

Sandeep Shah

Associate VP of Marketing for Line Card

Specializes in line card marketing

Aspect

Details

Recent Changes

No recent changes have been reported in available data

Governance Practice

Description

Purpose

Citation/Source

Code of Business Conduct and Ethics

Anchors ethical business practices through a continuously evaluated Code of Business Conduct and Ethics. This code is integrated into employee training and actions, ensuring consistent ethical standards.

Ensures integrity and responsible behavior

Credo ESG Report 2023; Credo Governance

Diverse & Independent Board

Features a board comprised of diverse and independent directors. Their varied expertise provides the strategic oversight needed to integrate ESG values and reinforce accountability in decision-making.

Promotes transparency and effective oversight

Credo Governance

ESG Integration and Reporting

ESG considerations are woven into operations, with consistent updates provided to stakeholders via reports and the company website. Material ESG updates are shared regularly to foster transparency.

Enhances ongoing stakeholder engagement

Credo ESG Report 2023; Credo ESG Report 2024

Data Security & Cybersecurity Oversight

Implements mandatory data security and cybersecurity training as part of its Code of Conduct, with periodic updates and specialized training for relevant roles. Compliance with regulations in data security ensures robust oversight of digital processes.

Protects stakeholder data and ensures regulatory compliance

Credo Governance

Political Contributions and Activity

Maintains clear policies on political contributions and activities ensuring that Credo refrains from endorsing or financially supporting political entities unrelated to its business objectives.

Mitigates risks and maintains impartiality

Credo Governance

Cross-Departmental Oversight

Involves multiple departments (e.g., Legal, Human Resources, Operations) in governance practices. This collaborative approach supports transparent, data-led decision making and risk management.

Strengthens internal controls and accountability

Credo ESG Report 2023

Key Practice

Focus

Ethical Code and Conduct

Setting robust standards

Diverse & Independent Leadership

Strong board oversight

ESG Reporting

Continuous stakeholder disclosure

Cybersecurity Governance

Risk management protocols

Political Neutrality Policy

Avoidance of bias in business decisions

Interdepartmental Collaboration

Data-led decision making

Initiative Category

Description

Source References

Diversity & Inclusion

Institutionalizes DEI (Diversity, Equity, and Inclusion) practices with focused recruitment strategies, updated interviewing structures, and pay equity measures. This ensures a supportive work environment that values diverse perspectives.

BusinessWire Report (2024), Credo ESG Social

Employee Empowerment

Implements comprehensive employee development and retention programs. These initiatives prioritize career growth, internal promotions, and continuous feedback to maintain an engaged and diverse workforce.

Credo ESG Report 2023

Corporate Social Responsibility (CSR)

Develops the Credo Cares program, which bridges the gap between technology and charitable organizations. This initiative supports community engagement through partnerships with nonprofits, especially those focusing on underserved school districts and improving access to quality education.

Credo ESG Page, BusinessWire Report (2024)

Sustainability Practice

Implementation Details

Citation

ESG Integration & Corporate Citizenship

Embeds Environmental, Social, and Governance (ESG) values into its operations, business practices, and technological innovations.

Credo Sustainability

Low-Power Connectivity Solutions

Develops energy-efficient, low-power connectivity solutions that not only meet performance demands but also reduce energy consumption and environmental impact.

Credo ESG Report

Comprehensive GHG Emissions Measurement

Completed its first comprehensive Greenhouse Gas (GHG) emissions and carbon footprint calculation for 2023, covering direct office emissions (Scope 1) and indirect emissions (Scope 2); this provides the baseline for a carbon offset strategy.

SDxCentral

Renewable Energy Transition

Transitioned its San Jose facilities to 100% renewable energy sources, demonstrating a commitment to reducing the overall environmental footprint.

SDxCentral

Practice

Global Alignment Details

Citation

ESG & Corporate Citizenship

Aligns with United Nations Sustainable Development Goals (SDGs) aimed at ending poverty, protecting the planet, and promoting well-being globally UN SDGs.

Credo ESG

Energy Efficiency & Low-Power Solutions

Addresses the global need for resource conservation by optimizing energy usage in high-demand environments such as data centers; contributes to lower carbon footprints.

Credo Sustainability

GHG Emission Measurement & Reporting

By calculating its detailed GHG emissions, Credo adheres to international practices of transparent carbon reporting, essential for global climate commitments.

SDxCentral

Renewable Energy Adoption

Transitioning facilities to renewable energy is consistent with global efforts to shift towards less carbon-intensive energy sources as outlined in international accords.

SDxCentral

Financial/Strategic Initiative

Description

Citation

ESG Commitment

ESG initiatives are integral for long-term success and are aligned with both corporate values and global sustainability standards.

Credo ESG Report

Carbon Offset Strategy

Establishing a baseline GHG measurement to facilitate the planning and implementation of a comprehensive carbon offset strategy.

SDxCentral

Initiative

Description

Credo Cares

An employee-driven program that supports charities, fundraisers, and community initiatives. The program emphasizes a culture of giving where employees are empowered to participate and create change. Source

Donations Program

A monthly democratic process where CREDO customers, employees, and the public nominate nonprofits. Employees vote on the final groups, with successful organizations receiving direct donations. Detailed processes ensure transparency and inclusivity Source.

ESG Community Engagement

As outlined in the 2024 ESG Report, the company prioritizes community engagement initiatives as part of its overall Environmental, Social, and Governance (ESG) strategies. This includes fostering a positive workplace, supporting local communities, and enhancing diversity and inclusion. Source

Impact Area

Details

Financial Contributions

Through programs like Credo Cares and the Donations Program, Credo has facilitated fundraising efforts (e.g., raising nearly $20,000 for the Susan G. Komen Breast Cancer Foundation), providing financial support to various causes.

Community Empowerment

Employee-led initiatives foster a culture of philanthropy and community support, encouraging active participation in local community projects and charitable events.

Social Responsibility & ESG

The company integrates community engagement into its broader ESG strategies, aiming to contribute positively to societal infrastructure, promote inclusivity, and support underserved communities.

Aspect

Description

Program Mechanism

Employee-led nominations and voting ensure that community programs are supported democratically.

Measurable Impact

Initiatives have delivered tangible results, such as targeted financial contributions, boosting community services.

Strategic Integration

Philanthropy is a core element of Credo's ESG approach, reflecting their commitment to creating long-term community value.

Metric

Data Point

Donation Example

Approximately $20,000 raised for the Susan G. Komen Breast Cancer Foundation (reported in Credo Cares initiatives)

Metric

Value

Source

Global Employee Count

500

Credo Technology Group

Employee Turnover Rate

Not available

Credo Technology Group

Benefit Category

Details

Health and Wellbeing

A variety of medical plans along with dental and vision to meet family needs source

Financial Security

401K plan and use of pre-tax dollars for healthcare expenses

Insurance Coverage

Life and disability insurance coverage

Time Off

Flexible time off plus paid holidays designated by country

Perk Category

Details

Work Environment

Diverse, fun, and inclusive culture that puts people first source

Recognition & Engagement

Recognition programs and continuous feedback initiatives that support a rewarding work experience

Retention & Workplace Awards

Recognition as a top workplace, emphasizing employee engagement and a supportive interpersonal environment

Development Category

Details

Career Growth

Opportunities for internal promotions, career advancement, and working with industry-leading professionals source

Skill Enhancement

Exposure to breakthrough technology and networking solutions aiding in personal and professional skill development

Continuous Improvement

Regular incorporation of employee feedback to refine practices, ensuring dynamic growth and development within the organization

Aspect

Description

Ethical Standards

Credo is committed to the highest standards of ethical, moral, and legal business conduct. This is formalized in their Code of Business Conduct and Ethics, which emphasizes integrity, professionalism, and fairness.

Human Rights

The company has a Salient Human Rights Policy that forbids human trafficking and modern slavery, respects the right to organize and freely associate, and promotes humane business practices within its supply chain.

Environmental Responsibility

Credo is committed to minimizing its environmental impact and promoting sustainability through its operations and product offerings.

Employee Well-being

Employee development, retention, and well-being are top priorities, as highlighted in their ESG (Environmental, Social, and Governance) report.

Diversity and Inclusion

Credo promotes diversity, equality, and inclusion within its workforce, ensuring a safe and supportive environment for all employees.

Policy

Impact on Employee Satisfaction

Training and Development

Credo mandates annual training for employees on topics such as workplace harassment, cybersecurity, and ethics, which helps in maintaining a knowledgeable and ethical workforce.

Health and Safety

The company prioritizes the health and safety of its employees, contributing to a secure and supportive work environment.

Diversity Initiatives

By fostering a diverse and inclusive workplace, Credo enhances employee satisfaction and engagement.

Ethical Business Practices

The emphasis on ethical conduct and fair dealings contributes to a positive corporate culture and employee morale.

Source

Feedback/Detail

Notes

Teamblind (Credo Careers)

Internal discussion for verified employees

The Blind page (Teamblind) suggests an internal forum exists for employees, but no aggregated review scores or ratings are publicly visible.

Credo Careers Page on Credo Semiconductor Website

Company-provided benefits and cultural claims

Although the page (Credo Careers) emphasizes a people-first philosophy with comprehensive benefits, it represents corporate messaging rather than independent employee reviews.

ESG Rating (Sustainalytics)

Average management score of ESG material risk

The ESG report (Sustainalytics) focuses on ESG risk management rather than direct employee satisfaction or employer rankings.

Office/Facility

Location/Region

Roles and Functions

North America Office

United States, San Jose, CA

Serves as part of the company’s headquarters for leadership, advanced semiconductor engineering, product development, and customer support initiatives to deliver breakthrough SerDes IP and interconnect solutions LinkedIn Careers

Asia Office

Hong Kong Science Park, Shatin, N.T, Hong Kong

Functions as a strategic base to support regional business growth, technology research, and development in high-speed connectivity, widening the company’s global reach and operational capabilities LinkedIn Careers

Country

Details

Cayman Islands

Headquartered in Grand Cayman, Cayman Islands FT

United States

One of the key markets for their optical and electrical Ethernet connectivity solutions SeekingAlpha

Taiwan

Listed as a region of operation for high-speed connectivity products Itiger

Mainland China

Operates in the territory, catering to the growing demand for data infrastructure components SeekingAlpha

Hong Kong

Active in the region, supplementing its international footprint Itiger

Aspect

Description

International Reach

Products are sold internationally across multiple regions beyond the explicit countries mentioned.

Market Segments

Serves hyperscalers, OEMs, original design manufacturers, and optical module manufacturers globally.

Product Scope

Offers high-speed connectivity solutions including integrated circuits, active electrical cables, and SerDes chiplets.

Aspect

Details

Strategy Overview

The available information does not provide explicit details on Credo’s international expansion strategy. The company’s communications focus primarily on financial performance, technological innovation, and market growth in existing product lines.

Target Regions

There is no specific mention of particular regions targeted for growth. While the nature of their products suggests potential global applications, no concrete geographic focus is provided in the accessible data.

Additional Insights

Investor relations documents and earnings conference calls emphasize scaling and innovation, but do not elaborate on planned international expansion initiatives. Credo Investor Relations Seeking Alpha

Technology / Component

Description

Support for Business Objectives

Serializer/Deserializer (SerDes)

Core IP utilized in high-speed data transmission and connectivity solutions. This proprietary technology is central to enabling ultra-fast, long-distance data communication in data centers.

Facilitates scaling of data infrastructure through improved data rates and bandwidth utilization Reuters.

Digital Signal Processors (DSP)

Advanced DSP technologies that enhance signal processing capabilities within integrated circuits and chiplets.

Ensures efficient signal integrity and processing for high-speed optical and electrical Ethernet applications SEC Filing.

SerDes Chiplets

Compact, scalable chiplets that incorporate SerDes and DSP functionalities, used in both optical and line card markets.

Supports modular design and cost-effective scaling of connectivity products across varied bandwidth requirements FT.com.

Advanced Retimers and Gearboxes

Components designed to optimize signal integrity, minimize latency, and support data rates up to 112G per lane, critical for high-performance networking.

Enhance operational speed and reliability, ensuring connectivity solutions meet the rigorous demands of hyperscale data centers, 5G, AI, and telecom infrastructures Credo Website.

Active Electrical Cables (AECs)

Cables designed to reduce power consumption while maintaining high data transfer reliability in high-speed network environments.

Improve power efficiency and reliability in AI clusters and data centers, aligning with the objective of addressing increasing energy efficiency demands Reuters.

Integrated Diagnostic Tools

Enhanced diagnostic systems including embedded logic analyzers and advanced SerDes toolkits with user-friendly graphical interfaces.

Accelerate system bring up and debug, reducing time to market for customers and boosting operational efficiency Investor Relations.

Mixed-Signal IP

Patented mixed-signal intellectual property that leverages mature fabrication processes to deliver leading edge performance and energy efficiency at lower cost.

Aligns with the company’s mission to break bandwidth barriers by ensuring high performance and cost-effective connectivity in evolving data infrastructures Credo Website.

Aspect

Impact Description

Enhanced Connectivity

Integration of SerDes, DSP, and chiplets allows for ultra-fast data communications that meet the increasing data demands in sectors like AI, cloud computing, and 5G telecom.

Improved Energy Efficiency

Use of AECs and optimized mixed-signal IP contribute to lower power consumption while maintaining high performance, critical in cost and energy-sensitive infrastructure markets.

Scalability and Cost-Effectiveness

Modular solutions based on chiplets and mature process technologies drive down costs and simplify the scaling of connectivity solutions, aligning with market demands for rapid expansion.

Diagnostic and Reliability Tools

Advanced diagnostic tools and signal integrity optimizing components (retimers, gearboxes) accelerate troubleshooting and boost overall system reliability.

Award Title

Recognition Details

Source

Most Respected Emerging Public Semiconductor Company Award

Recognizes excellence in innovation, execution, and industry impact in delivering high-speed energy-efficient connectivity solutions for AI, cloud computing, and data center infrastructure

Credo Wins GSA Award

TSMC 2017 Open Innovation Platform® Partner of the Year Specialty Technology IP Award

Acknowledges innovation and excellence in technology collaboration and IP development, reinforcing Credo’s commitment to cutting-edge connectivity solutions

LinkedIn Announcement

Category

Details

Patent Portfolio Information

Ethernet Standard

Patents related to transceivers, integrated receiver circuits and Ethernet link extension methods designed to enhance high-speed data transmission and energy efficiency

As of April 30, 2022: 51 US issued patents; portfolio also includes pending applications in the US and mainland China SEC Form 10-K

Network Cable Technology

Innovations covering cable designs for remote active cable controllers and methods for power sharing and redundancy in connection systems

Detailed in multiple patent abstracts available on Justia

Chip Manufacturing & MCM/SerDes Cores

Patents relating to chip manufacturing processes, multi-chip module configurations, and Serializer/Deserializer (SerDes) cores that drive secure, high-speed connectivity solutions

Core part of Credo’s IP as referenced in their annual filings and patent portfolio listings

Announcement/Event

Strategic Alliance/Partnership Announcement

Benefits Announced

Additional Details

Chiplet Summit 2025 Exhibit

Not specified

Not applicable

Credo showcased its chiplet and IP solutions and featured participation by its Business Development team (Jeff Twombly), indicating industry engagement but not a formal new partnership Investors Credo.

Q3 2025 Earnings Conference Call & Financial Releases

No alliance information provided

Not applicable

The communications focused mainly on financial performance and operational metrics with no direct mention of strategic partnerships BusinessWire.

Partner

Description

Impact on Market Position

Microsoft Azure

Credo AI’s governance platform is integrated with Azure’s AI ecosystem.

Enhances Credo's credibility and reach in AI governance, positioning it as a leader in responsible AI deployment.

Databricks

Partnership simplifies governance within enterprise data ecosystems.

Strengthens Credo's position in data governance, making it a preferred choice for enterprises seeking integrated solutions.

McKinsey

Generative AI Alliance reinforces Credo's role in AI governance.

Positions Credo as a trusted partner for leading enterprises in AI governance, enhancing its market leadership.

Initiative

Description

Impact on Market Position

AI Safety Institute

Founding member to drive benchmarks and evaluations for AI capabilities.

Establishes Credo as a leader in AI safety and reliability, enhancing trust among stakeholders.

AILuminate Benchmark

Partnered to set new standards for evaluating generative AI safety and reliability.

Positions Credo as a pioneer in setting industry standards, boosting its reputation and influence.

Component

Description

Source

High-Speed Connectivity Solutions

Focus on breaking bandwidth barriers in every wired connection to support the digital transformation of data infrastructure. Their products enable secure, high-speed connectivity for demanding applications.

Investor Relations

Innovation & Product Integration

Deployment of products such as integrated circuits, Active Electrical Cables (AECs), and SerDes Chiplets tailored for optical and electrical Ethernet applications.

Investor Relations

Advanced Diagnostic & Debug Tools

Introduction of enhanced diagnostic tools—including embedded logic analyzers and advanced SerDes utilities driven by new GUIs—to enable rapid system bring-up, debugging, and performance optimization.

Investor Relations

Market-Driven Adaptation

Capitalizing on digital trends such as AI-driven data centers and hyperscaler demands, the company ensures its connectivity solutions address increasing bandwidth and power efficiency requirements.

BusinessWire

Functionality

Role of Data & Analytics

Description

Source

Performance Monitoring

Data-driven monitoring of high-speed connectivity performance

By integrating advanced diagnostic tools and embedded logic analyzers, Credo collects performance data to refine and optimize system efficiency.

Investor Relations

Product Optimization

Analytics for rapid product debugging and infrastructure management

The use of sophisticated SerDes tools allows for in-depth analytics that enable quick resolution of issues and further drive reliability across digital infrastructures.

Investor Relations

Enabling Digital Transformation

Underpinning digital transformation initiatives through reliable, data-supported connectivity solutions

Their strategy ensures that the backbone of digital transformation in sectors like AI and machine learning is supported by robust, data-optimized connectivity.

BusinessWire

Attribute

Details

Company Name

Credo Technology Group Holding Ltd.

Sector/Industry

Technology / Semiconductors and Connectivity Solutions

Core Focus

Delivering high-performance semiconductors, optical components, and system-level solutions essential for high-speed networks and data infrastructure source

Key Market Emphasis

Energy-efficient designs; green computing; improved network efficiency to reduce operational costs; critical support for data centers and hyperscale cloud services

Area

Observations

Short-Term Goals

Although not explicitly defined in the data, the company appears to focus on optimizing its current product offerings, enhancing network connectivity solutions, and reinforcing industry partnerships.

Long-Term Goals

The narrative suggests an ambition towards sustained innovation in next-generation semiconductor and connectivity technologies, with a view towards shaping the digital infrastructure globally. However, specific long-term targets or projects have not been detailed.

Future Plans & Initiatives

The provided materials do not include explicit future projects, upcoming initiatives, or detailed progressive timelines. The company’s commitment to energy-efficient and high-tech solutions indicates a forward-looking approach, but quantifiable strategic plans remain unspecified.

Information Category

Status/Details

Explicit Short-Term Strategies

Not provided in the current data.

Detailed Long-Term Strategic Goals

Not explicitly outlined; inferred through focus on technological advancements and market positioning.

Upcoming Projects/Initiatives

Specific details about new initiatives or projects were not available in the messaging history.

Aspect

Details

Risk Disclosures

The available data includes financial statements and company profile details, but no specific risk disclosures from the annual reports or public statements have been provided.

Mitigation Strategies

As no specific mitigation strategies have been detailed in the data received, further information (such as risk factor disclosures and management commentary) is necessary to understand the identified risks and associated mitigation measures.

Challenge/Risk

Description

Addressing Strategy

Competitive Market Dynamics

The high-speed connectivity solutions market is extremely competitive with rapid technological advancements that require continuous innovation.

Ongoing investment in R&D, maintaining technological leadership, and forming strategic partnerships (e.g. with Microsoft) to maintain market edge GuruFocus.

Macroeconomic Uncertainties

Global economic uncertainties, including pandemics and supply chain disruptions, affect operations and financial performance; reliance on third-party suppliers heightens this risk.

Diversification of suppliers and manufacturers, risk management practices, and strategic market expansion help mitigate these external risks GuruFocus.

Operating Losses & Customer Concentration

Reliance on a limited customer base and operating losses increase the financial vulnerability of the company.

Efforts to diversify the customer base, expand into emerging markets, and improve operational efficiency through strategic initiatives GuruFocus.

Need for Continuous Innovation

Rapid technological change requires that the company constantly upgrade its product offerings to keep pace with competitors.

Commitment to continuous research and development investments and the unveiling of innovative solutions (e.g., 112G PAM4 SerDes IP family) to retain competitive positioning GuruFocus.

Financial Considerations

Detail

Operating Losses

Noted as an area for strategic improvement but no specific numerical data provided

Customer Concentration Risk

Identified as a risk factor affecting stability

Case/Controversy

Filing/Investigation Date

Details

Outcome

Source

Credo Technology Group, Ltd. v. Credo.AI Corp

April 2024 (filed)

A lawsuit filed in the U.S. District Court for the Northern District of California. The case involves a dispute with Credo.AI Corp.

Outcome not yet determined; case is pending

Justia Dockets, Law360

Shareholder Investigation by Pomerantz LLP

February 2023

An investigation initiated on behalf of investors alleging securities fraud or unlawful business practices following a significant drop in stock price resulting from revised revenue forecasts.

Investigation is ongoing; no resolution announced

PR Newswire

Customer Segment

Description

Hyperscalers

Large-scale cloud computing providers who require high-speed, reliable digital connectivity solutions.

OEMs & ODMs

Original Equipment Manufacturers and Original Design Manufacturers that integrate Credo's solutions into their products.

Optical Module Manufacturers

Companies that design and manufacture optical modules; multiple suppliers are designing products with Credo’s 200G Optical DSPs due to performance, power, and price advantages.

Enterprise & HPC Markets

Enterprises and High-Performance Computing markets that demand advanced connectivity and processing capabilities.

Aspect

Insights

Two-Pronged Sales Strategy

Credo engages both end users and suppliers to capture critical connectivity requirements, ensuring tailored solutions. CSI Market

Direct Customer Engagement

Direct sales force and supporting field teams allow the company to gather detailed feedback on product performance and evolving requirements, leading to improved product alignment with customer needs. CSI Market

Strategic Relationship with Limited Customers

Reliance on a limited number of key customers has led to strong, focused engagements and the development of preferred vendor relationships globally. CSI Market

Region

Description

North America

Active direct sales force supported by marketing and technical teams.

Asia

Engaged through regional teams focusing on different product verticals.

Europe

Direct and localized sales efforts to serve tailored regional market demands.

Strategy Area

Time Horizon

Key Initiatives

Source Citations

Product Innovation & Diversification

Near Term

Enhance existing product lines (e.g., Active Electrical Cables), improving connectivity solutions for data infrastructure. Targeted expansion of product portfolio to meet growing bandwidth and energy efficiency requirements.

TipRanks

Continued Investment in R&D

Near & Long Term

Ongoing research and development to drive technological leadership and new product advancements. Critical for digital transformation and maintaining competitive edge.

GuruFocus

Expansion into Emerging Markets and Strategic Partnerships

Long Term

Broadening customer base through expansion in emerging markets and forging strategic alliances to mitigate supply chain risks and customer concentration vulnerabilities.

GuruFocus

Industry Engagement & Thought Leadership

Near & Long Term

Participation in industry events (e.g., Chiplet Summit Conference) to showcase advancements, build partnerships, and shape industry standards, including potential AI technology integration.

StocksToTrade

Financial Metric

Q3 2025 Value

Description

Source Citations

Revenue

$135 million

Strong revenue growth evidenced by an 87.4% quarter-over-quarter and 154.4% year-over-year increase, supporting further investments in innovation.

TipRanks

GAAP Gross Margin

63.6%

High profit margins provide the financial strength needed for R&D and expansion activities.

TipRanks

Cash & Short-Term Investments

$379.2 million

Robust capital base ensuring liquidity to fund strategic initiatives in both near and longer terms.

TipRanks

Aspect

Description

Source Citations

Addressing Disruptions

Credo Technology leverages its strong financial performance and product innovation to counter industry changes, placing emphasis on energy-efficient connectivity solutions supportive of increasing data demands.

TipRanks

Adaptability to Market Shifts

Investments in R&D combined with expansion into emerging markets and strategic partnerships ensure that the company remains nimble in the face of macroeconomic uncertainties and industry-specific disruptions.

GuruFocus

Long-Term Vision

Engagement in industry events and proactive steps towards technology integration (including AI considerations) underline a commitment to shaping future industry standards and maintaining competitive advantage.

StocksToTrade

Regulatory Body/Consortium

Details

Citation

U.S. Securities and Exchange Commission (SEC)

Credo files regulatory disclosures and complies with federal regulations. Operations are subject to oversight by the SEC as required for publicly listed companies.

SEC.gov

PCI-SIG (Standards Consortium)

For products like the Toucan PCIe 5.0 retimer, Credo adheres to PCI-SIG standards ensuring interoperability and high-performance compliance in industry-standard I/O specifications.

PCI-SIG

Compliance Aspect

Description

Citation

Internal Policies

Credo implements a comprehensive Code of Business Conduct and Ethics along with a Corruption and Bribery Prevention Policy. These policies outline procedures to avoid conflicts of interest, ensure accurate recordkeeping, and prohibit facilitation payments to ensure ethical operations.

Credo Code of Conduct

Legal Department Oversight

The Legal Department is responsible for handling disclosures, investigating suspected policy violations, and ensuring compliance with both internal and external regulations.

Corruption and Bribery Prevention Policy

Regulatory Filings & Standards

Regular filings with regulators like the SEC and adherence to industry standards (e.g., PCI-SIG) ensure continuous monitoring and certification of product performance and compliance.

SEC.gov

Feedback Component

Details from Available Information

Observations

Gathering

No specific details on the channels or methods (e.g., surveys, direct customer interactions, digital platforms) are provided in the available sources.

Insufficient data in messaging history.

Analysis

There is no information indicating how the company analyzes feedback data to derive insights.

Additional transparency about analysis techniques is needed.

Utilization

No specific process is described for how customer feedback is used to adjust or improve product offerings.

Details on product development adjustments based on customer input are not mentioned.

Data Source

Available Information

Public Releases / Earnings Calls

Focus is primarily on financial performance, product demand, and customer concentration (e.g., largest customer contributing 86% of revenue) without elaboration on customer feedback mechanisms.

Customer Segment

Key Characteristics

Geographic Presence

Hyperscalers

Large cloud and data center operators demanding high-speed, bandwidth-efficient connectivity solutions.

Global (North America, Asia, Europe)

OEMs (Original Equipment Manufacturers)

Companies that integrate Credo’s high-speed connectivity products into broader systems and devices.

Global

ODMs (Original Design Manufacturers)

Firms that design products under contract, leveraging Credo’s performance, power efficiency, and cost advantages in their designs.

Global

Optical Module Manufacturers

Specialized manufacturers focused on optical components where Credo’s 200G Optical DSPs and related products are used.

Global

Enterprise & HPC Markets

Enterprises and high-performance computing markets with pressing connectivity requirements for their advanced infrastructure needs.

Global

Strategy/Approach

Description

Supporting Teams/Tools

Two-Pronged Sales Strategy

Engages both the end users of their products and the suppliers of these end users. This dual focus helps in understanding and catering to direct connectivity requirements.

Direct sales force, marketing, business development, and Field Application Engineer teams; organized along product verticals CSIMarket.

Direct End-User Engagement

By engaging directly with the end users, Credo gains insights into specific connectivity challenges and tailors solutions (e.g., enhanced diagnostic tools and optimized performance products).

Regional sales teams and specialized engineering units CSIMarket.

Global Sales Presence

Maintains a sales presence across North America, Asia, and Europe to address regional market nuances and maintain close relationships with key accounts.

Regionally distributed sales and support teams FT.com.

Aspect

Detail

Citation

Customer Reviews on Reputation

No direct customer reviews, feedback, or ratings from customers are present in the available information.

Not available

Market Insights from Customer Feedback

No market insights drawn from customer reviews are available. Instead, market insights are primarily sourced from analyst commentary and financial performance data.

Seeking Alpha: Credo Technology BusinessWire: Credo Financial Results