JP Insights(@jpinsights):$CRDO FY27 still requires a pretty sharp second half. Q1 came in at $479M and Q2 is guided to $525–535M. At the midpoint, that puts H1 revenue at roughly $1.01B. To reach the >80% FY27 growth target, Credo would need about $1.39B in H2 revenue, or roughly $693M per quarter. That is about 31% above the Q2 midpoint. So the setup is pretty simple from here: the H2 ramp needs to be real. And that is why I care much more about what management says tonight about optical revenue and the timing of those ramps than whether Q1 beat estimates by a few million dollars.

JP Insights

@jpinsights

I write about the boring stuff behind AI. Longer analysis available on my Substack. NFA

가입 September 2016

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JP Insights@jpinsights

2026.09.01 20:12

$CRDO FY27 still requires a pretty sharp second half. Q1 came in at $479M and Q2 is guided to $525–535M. At the midpoint, that puts H1 revenue at roughly $1.01B. To reach the >80% FY27 growth target, Credo would need about $1.39B in H2 revenue, or roughly $693M per quarter. That is about 31% above the Q2 midpoint. So the setup is pretty simple from here: the H2 ramp needs to be real. And that is why I care much more about what management says tonight about optical revenue and the timing of those ramps than whether Q1 beat estimates by a few million dollars.