HIGHOutside partyCustomer
90%
top 10 customers (~90% of revenue)
“10-K Item 1A: 'in fiscal 2025, sales to our top 10 customers accounted for approximately 90% of our total revenue.'”
CRDO · Concentration risk · 10-K extracted
Credo Technology Group Holding (CRDO) concentration risks
Updated
The most significant concentration Credo Technology Group Holding discloses is top 10 customers (~90% of revenue), classified HIGH by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Source: Credo Technology Group Holding’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 3 disclosed concentrations
HIGH3
MEDIUM0
LOW0
Disclosed concentrations
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
HIGHOutside partyCustomer
67%
single customer (67% of revenue)
“10-K Item 1A: 'In fiscal 2025, we had one customer that accounted for 10% or more of our total revenue (such one customer accounting for 67% of total fiscal 2025 revenue).'”
HIGHOutside partySupplier
TSMC (sole wafer foundry)
“10-K Item 1: 'In fiscal year 2025, we exclusively used Taiwan Semiconductor Manufacturing Company Limited (TSMC) for semiconductor wafer production.'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-09-06Credo Technology's concentration risk is unusually concentrated across three separate dependencies, all counterparty-specific rather than structural, and all disclosed at a high-share level. Sales to the top 10 customers accounted for approximately 90% of total revenue in fiscal 2025, and within that group a single customer alone represented 67% of total fiscal 2025 revenue — both high-share dependencies showing that the top-line figure is driven overwhelmingly by one buyer rather than being spread evenly across ten. On the supply side, the company exclusively used Taiwan Semiconductor Manufacturing Company Limited (TSMC) for semiconductor wafer production in fiscal year 2025, a high-share dependency on a single foundry with no disclosed alternative source. All three exposures hinge on the continuity of a specific named counterparty — one customer, one set of top buyers, and one foundry — rather than on a diversified market or product base. Because the single-customer and single-foundry dependencies are both high-share and both counterparty-specific, either one alone is capable of materially moving the verdict if disrupted, and together they describe a business with very little disclosed diversification on either side of its revenue or production chain.
For the engine’s reasoning on CRDO’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · Semiconductors
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| ALAB | Astera Labs, Inc. | 3 | 0 | 0 | 3 |
| CRDO● | Credo Technology Group Holding | 3 | 0 | 0 | 3 |
| AMBQ | Ambiq Micro, Inc. | 2 | 1 | 0 | 3 |
| ADI | Analog Devices, Inc. | 2 | 0 | 0 | 2 |
| ALGM | Allegro MicroSystems, Inc. | 1 | 2 | 0 | 3 |
| AIP | Arteris, Inc. | 0 | 1 | 0 | 1 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.