Hollsteen

Customer concentration

Which tech companies depend most on a single customer? Largest customer’s share of revenue, as disclosed in 10-K and 20-F filings.

Who depends most on one customer?

CoreWeave: 67% of FY2025 revenue from one customer

  1. CoreWeave67%Microsoft · FY2025
  2. Credo49%Customer A (not named in filing) · FY2026
  3. Marvell37%Distributor A (not named in filing) · FY2026
  4. Broadcom32%Major Customer One (not named in filing) · FY2025
  5. Celestica32%Customer One (not named in filing) · FY2025
  6. VeriSign31%Largest customer (not named in filing) · FY2025
  7. Roblox29%One Payment Processor (not named in filing) · FY2025
  8. Fortinet28%Distributor A (not named in filing) · FY2025
  9. Lumentum27%Customer A (not named in filing) · FY2026
  10. Arista26%Reseller B (not named in filing) · FY2025
  11. Monolithic Power26%Distributor A (not named in filing) · FY2025
  12. Nebius25%Customer A (not named in filing) · FY2025
  13. Take-Two25%Second Customer (not named in filing) · FY2026
  14. Analog Devices24%Distributor 1 (not named in filing) · FY2025
  15. NVIDIA22%Customer One (not named in filing) · FY2026
  16. NetApp22%Arrow Electronics Inc. · FY2026
  17. Qualcomm21%Customer One (not named in filing) · FY2025
  18. Coherent20%Major Customer One (not named in filing) · FY2026
  19. Astera Labs20%Customer A (not named in filing) · FY2025
  20. Intel19%Dell Inc. · FY2025
  21. Applied Materials19%Customer One (not named in filing) · FY2025
  22. TSMC19%Customer ranked #1 by share (not named in filing) · FY2025
  23. KLA19%Taiwan Semiconductor Manufacturing Company Limited · FY2026
  24. STMicroelectronics18%Apple · FY2025
  25. Lam Research16%Customer One (not named in filing) · FY2026
  26. Western Digital16%Customer One (not named in filing) · FY2026
  27. Jabil16%Customer A (not named in filing) · FY2025
  28. Arm16%Largest Customer (not named in filing) · FY2026
  29. Palo Alto Networks15%Customer A (not named in filing) · FY2026
  30. Autodesk14%TD Synnex · FY2026
  31. Dell12%One Customer (not named in filing) · FY2026
  32. Texas Instruments12%Customer Number One (not named in filing) · FY2025
  33. Microchip12%Arrow Electronics · FY2026
  34. MACOM12%Customer A (not named in filing) · FY2025
  35. Cisco11%One Customer (not named in filing) · FY2026
  36. ServiceNow11%One Customer (not named in filing) · FY2025
  37. onsemi11%One Customer (not named in filing) · FY2025
  38. Qnity11%Samsung Electronics Company Limited · FY2025
  39. First Solar11%Customer One (not named in filing) · FY2025
  40. Tower Semiconductor11%NTCJ · FY2025
  41. HPE10%Customer One (not named in filing) · FY2025
  42. AMD18%Customer A (not named in filing) · FY2023 · stale no 10% customer in the data for FY2025
  43. Micron17%Undisclosed Customer (not named in filing) · FY2025 · stale no 10% customer in the data for FY2026
  44. Palantir15%Customer I (not named in filing) · FY2023 · stale no 10% customer in the data for FY2025
  45. Sandisk15%One Customer (not named in filing) · FY2023 · stale no 10% customer in the data for FY2026
  46. Synopsys13%One Customer (not named in filing) · FY2024 · stale no 10% customer in the data for FY2025
  47. Amphenol11%Largest Customer (not named in filing) · FY2020 · stale no 10% customer in the data for FY2025
  48. Seagate10%One Customer (not named in filing) · FY2025 · stale no 10% customer in the data for FY2026
  49. Everpure10%One Customer (not named in filing) · FY2024 · stale no 10% customer in the data for FY2026

One customer each: the largest single customer the filing discloses. Customer groups are listed separately below. Stale = the latest annual report discloses no customer with 10% or more of revenue, so the share shown is from an older fiscal year. Companies not listed disclose none, or are not yet covered.

Customer groups disclosed in filings

Groups of customers, not one customer

  1. Jabil90%Eighty Seven Customers (group, as disclosed) · FY2025
  2. Take-Two81%Five Largest Customers (group, as disclosed) · FY2026
  3. Western Digital73%Top Ten Customers (group, as disclosed) · FY2026
  4. ASML61%Four Customers (group, as disclosed) · FY2025
  5. MACOM57%Top Ten Customers (group, as disclosed) · FY2025
  6. Flex45%Ten Largest Customers (group, as disclosed) · FY2026
  7. Sandisk44%Top Ten Customers (group, as disclosed) · FY2026
  8. Intel43%Three Largest Customers (group, as disclosed) · FY2025
  9. Verisk42%Top Fifty Customers (group, as disclosed) · FY2025
  10. Arm42%Three Largest Customers (group, as disclosed) · FY2026
  11. Ciena58%Ten Largest Customers (group, as disclosed) · FY2024 · stale latest filing: FY2025

Combined share of several customers as stated in the filing (e.g. “four customers”, “top ten customers”). Not comparable with a single customer’s share.