HIGHOutside partyCustomer
90%
top 10 customers
“10-K Item 1A: '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 at 90%, 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.
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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 · 2 disclosed concentrations
HIGH2
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 partySupplier
TSMC
“10-K Item 1: 'we exclusively used Taiwan Semiconductor Manufacturing Company Limited (TSMC) for semiconductor wafer production'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-10-18Credo's disclosed concentrations are both dependency-type and both fall in the high-share band, which makes the profile unusually concentrated on each side of the business. Sales to the top 10 customers accounted for approximately 90% of total revenue, so a small number of buyers determines results. A change in design wins, order timing, or inventory decisions at any of them could move revenue materially, and the company has limited ability to offset a loss with other accounts. On the supply side, the company exclusively used Taiwan Semiconductor Manufacturing Company Limited (TSMC) for semiconductor wafer production. This is a single-foundry dependency: capacity allocation, pricing, or any production disruption at TSMC flows straight into Credo's ability to ship product, and there is no disclosed second source. Taken together, the customer concentration is the more visible and quantified risk, while the foundry dependency is the more idiosyncratic one, capable of an abrupt supply shock. The two compound each other, since a wafer shortage would hit precisely the customers who account for most revenue. Neither is mitigated by diversification in the disclosed sources.
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 |
| AMBQ | Ambiq Micro, Inc. | 2 | 1 | 0 | 3 |
| ADI | Analog Devices, Inc. | 2 | 0 | 0 | 2 |
| CRDO● | Credo Technology Group Holding | 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.