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Credo Technology Group (CRDO) provides innovative, secure, high-speed, and power-efficient connectivity solutions primarily for the data infrastructure market. The company focuses on meeting the growing bandwidth requirements driven by advanced Artificial Intelligence infrastructure and applications. Credo sells a range of products optimized for both optical and electrical Ethernet applications, including integrated circuits, Active Electrical Cables, and SerDes Chiplets, and also licenses intellectual property solutions.
- Product Sales - Offers hardware products such as Active Electrical Cables, Chiplets, and Optical products, which form the core of the company's revenue generation.
- Product Engineering Services - Provides non-recurring engineering contracts and services, contributing to the company's growth in recent periods.
- IP License - Licenses intellectual property to customers, focusing on SerDes IP solutions, although its contribution has been declining over time.
| Name | Position | External Roles | Short Bio | Start Date | |
|---|---|---|---|---|---|
Chi Fung (Lawrence) Cheng ExecutiveBoard | Chief Technology Officer and Director | None | CTO since September 2014; co-founder of Credo; previously Engineering Director at Marvell; holds an M.S. in Electrical Engineering from Purdue University. | September 2014 | |
William (Bill) Brennan ExecutiveBoard | President, CEO, and Director | None | CEO since September 2014; previously EVP at Vital Connect and VP at Marvell Technology; holds a B.S. in Electrical Engineering and Computer Science from the University of Colorado. | September 2014 | View Report > |
Yat Tung (Job) Lam ExecutiveBoard | Chief Operating Officer and Director | None | COO since September 2014; co-founder of Credo; previously held leadership roles at Marvell; holds a B.S. in Electrical Engineering from Oklahoma State University and an M.S. from the University of Minnesota. | September 2014 | |
Daniel Fleming Executive | Chief Financial Officer | None | CFO since August 2015; previously VP of Finance at Siva Power and held financial roles at SunPower, Marvell, and Xilinx; holds a B.S. in Electrical Engineering and an M.B.A. in Finance. | August 2015 | |
James Laufman Executive | Chief Legal Officer and Secretary | None | Chief Legal Officer since August 2024; previously CLO at Automation Anywhere and Infinera; holds a B.S. in Business Administration and a J.D. from Santa Clara University. | August 2024 | |
Clyde Hosein Board | Director | Board Member at Dentsply Sirona and Wolfspeed | Director since April 2024; extensive CFO experience at companies like RingCentral and Marvell; holds a B.S. in Industrial Engineering and an M.B.A. in Finance. | April 2024 | |
David Zinsner Board | Director | EVP and CFO of Intel Corporation | Director since October 2019; currently EVP and CFO at Intel; previously CFO at Micron and Analog Devices; holds an M.B.A. in Finance and Accounting from Vanderbilt University. | October 2019 | |
Lip-Bu Tan Board | Director | Chairman of Walden International; Director at Intel Corporation and Schneider Electric | Director since October 2019; founder of Walden International; previously CEO of Cadence Design Systems; holds a Ph.D. in Electrical Engineering and Computer Science from UC Berkeley. | October 2019 | |
Manpreet Khaira Board | Director | None | Director since September 2021; co-founder and former CEO of Avnera Corporation; holds extensive experience in the semiconductor industry. | September 2021 | |
Pantas Sutardja Board | Director | Founder and CEO of LatticeWork Inc. | Director since August 2015; co-founder of Marvell Technology; holds a Ph.D. in Electrical Engineering and Computer Science from UC Berkeley. | August 2015 | |
Sylvia Acevedo Board | Director | Board Member at Qualcomm Technologies | Director since December 2021; former CEO of Girl Scouts of the USA; holds a B.S. in Engineering from New Mexico State University and an M.S. in Engineering from Stanford University. | December 2021 |
- Your second quarter showed significant revenue growth, but a large portion seems concentrated among a few customers, with one customer accounting for 33% of revenue. How do you plan to mitigate the risks associated with such customer concentration, and what steps are you taking to diversify your revenue base?
- You mentioned that the inflection point in the second half of fiscal '25 is primarily driven by a single customer. Given this dependency, how confident are you in the sustainability of this growth if that customer's demand fluctuates?
- With the rapid revenue growth forecasted, can you elaborate on how you’re managing supply chain and inventory levels to prevent potential overstocking or buildup, especially considering concerns about possible inventory accumulation ?
- You've stated that IP licensing will not contribute 10% or more of your revenue in future years. How will this shift away from IP licensing impact your profitability and margins, and what is your strategy to compensate for this change?
- As you ramp up production of new products like the PCIe retimers and the 200-gig per lane optical DSPs, which are expected to contribute in fiscal '26 and beyond , what are the key challenges you anticipate in penetrating markets dominated by established incumbents, and how do you plan to overcome them?
Recent developments and announcements about CRDO.
Earnings
New Earnings (Q3 2025)
·6 days agoView full earnings summary →CRDO saw 86% of Q3 revenue from its largest customer but expects this to drop to ~67% in Q4. Gross margin reached ~64%, +200bps sequentially, +900bps YoY. Ramp with 3 new hyperscalers by FY26 should further reduce concentration and drive growth.