New Long position idea: $CRDO is down 55% from its all time high of $213 and just posted the most absurd earnings I have seen from a semiconductor company this cycle. Here is the revenue trajectory. Q3 FY2025: $135M, up 154% year over year. Q2 FY2026: $268M, up 272% year over year. Q3 FY2026: $407M, up 201% year over year. Beat estimates by 7%. EPS $1.07 vs $0.89 expected. Q4 FY2026 guidance: $425-435M. Another beat expected. The CEO said it himself on the call. From fiscal 2024 to 2025 they doubled revenue. From 2025 to 2026 they are tripling it on top of that. That is more than 6x growth in two years. 68.6% gross margins. 49.6% non-GAAP operating margins. $157M in net income in a single quarter. This is not a story stock burning cash. It is a highly profitable business growing at a
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