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.
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%
largest customer
“10-K Item 1A: 'we had one customer that accounted for 10% or more of our total fiscal 2025 (such one customer accounting for 67% of total fiscal 2025 revenue)'”
HIGHOutside partySupplier
TSMC
“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 2026-07-06Credo's revenue is tightly concentrated at both the group and single-customer level: the top 10 customers account for approximately 90% of total revenue, and within that group one customer alone represented 67% of total fiscal 2025 revenue — a high-share dependency on a small buyer base rather than a diversified structural feature of the business. On the supply side, the company relies exclusively on Taiwan Semiconductor Manufacturing Company (TSMC) for semiconductor wafer production, another high-share dependency with no disclosed alternative supplier. Together these three exposures point the same direction: Credo's fortunes are tied to the continued goodwill of a handful of large customers and a single foundry partner. None of these is a diversified, cyclical exposure — each is a discrete counterparty relationship whose loss or renegotiation could move results quickly. Investors should treat customer and supplier concentration as the dominant risk factor here, more so than any macro or geographic consideration, since all three disclosed exposures are dependency-type and high-share, with no offsetting structural diversification disclosed in these source claims.
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.