HIGHOutside partyCustomer
90%
top 10 customers
“10-K Item 1: '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%
single largest customer
“10-K Item 1: '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 2026-08-23Credo Technology Group carries some of the most concentrated customer and supplier relationships in this set, all disclosed at high share. Sales to its top 10 customers accounted for approximately 90% of total revenue, a high-share dependency that leaves little revenue base outside a small handful of relationships. Within that group, a single customer accounted for 67% of total fiscal 2025 revenue by itself, meaning two-thirds of the company's business rests on one counterparty continuing to buy at current levels — the most idiosyncratic and consequential exposure in the set. On the supply side, Credo exclusively used Taiwan Semiconductor Manufacturing Company Limited (TSMC) for semiconductor wafer production in fiscal year 2025, a high-share dependency with no disclosed alternative source, tying manufacturing continuity to a single foundry partner. None of these three exposures is structural in the sense of reflecting a diversified business model — all three describe dependency on a small number of counterparties. Netting them out, the single largest customer is the dominant swing factor for revenue, while the TSMC dependency is the dominant swing factor for the company's ability to actually manufacture and ship product at all.
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.