Wolfspeed Inc ( (WOLF) ) has released its Q1 earnings. Here is a breakdown of the information Wolfspeed Inc presented to its investors.
Claim 70% Off TipRanks This Holiday Season
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Wolfspeed, Inc. is a leading company in the semiconductor industry, known for its pioneering work in silicon carbide technologies that power various high-growth sectors. The company recently reported its first-quarter fiscal 2026 results, highlighting strong performance amid its emergence from Chapter 11 bankruptcy. Wolfspeed’s quarterly revenue reached approximately $197 million, with significant contributions from its Mohawk Valley Fab. However, the company faced challenges with a GAAP gross margin of -39% and a GAAP loss per share of $4.12, impacted by reorganization costs. The company ended the quarter with $926 million in cash and equivalents, providing financial flexibility post-restructuring. Looking forward, Wolfspeed anticipates a sequential decline in revenue for the second quarter due to market softness and inventory adjustments by customers. The company remains focused on leveraging its silicon carbide leadership to target high-growth applications such as AI data centers and energy storage, aiming for sustainable growth and long-term value.