Grate the zucchini, place in a bowl, sprinkle with a pinch of salt, and mix well. Let the zucchini weep for at least 10 minutes.
Transfer to a cheesecloth or kitchen towel and squeeze to remove moisture.
Heat olive oil in a frying pan over a medium heat, add minced garlic and fry for 30 seconds. Add shredded zucchini and thyme and cook for 15 minutes, stirring occasionally.
Add cream cheese, season with salt and pepper and cook for 3-5 minutes more.
Transfer to a plate, sprinkle with grated Grana Padano, serve with some low carb crackers (if desired) and enjoy.