The earnings call highlighted significant growth in EV revenue and progress in cost reduction and wafer production. However, the company faced challenges with revenue decline, negative cash flow, low gross margin, and demand pressures. The sentiment is balanced between positive developments and ongoing challenges.

Company Guidance

During the Wolfspeed Q2 Fiscal Year 2025 earnings call, several key financial metrics and strategic initiatives were discussed to guide the company's future performance. Wolfspeed reported Q2 revenue of $181 million, slightly above the midpoint of guidance, with power device revenue at $91 million and materials revenue at $90 million. The company aims to dramatically improve its financial performance by accelerating its path to positive free cash flow and strengthening its balance sheet. This includes reducing CapEx levels for fiscal 2025 to approximately $1.2 billion and minimizing cash use for the remainder of the fiscal year to achieve profitability goals. Wolfspeed is also focused on operational efficiencies, cost reductions, and stricter cash management to lower its breakeven point to under $1 billion in annual revenue. Additionally, they are working towards securing $2.5 billion in funding, including CHIPS Act support, to support long-term growth plans. Non-GAAP gross margin was 1.8%, while non-GAAP operating expenses were $108 million for the quarter. The company ended the quarter with $1.4 billion in cash and liquidity. Looking ahead to Q3 2025, Wolfspeed projects revenue between $170 million and $200 million, with non-GAAP gross margin expected to be between -3% and 7%, and non-GAAP EPS loss projected between $0.88 and $0.76.

Strong Growth in EV Revenue

EV revenue grew by 92% year-over-year, and further growth of 20% to 30% is expected in the upcoming quarter.

Progress in Cost Reduction and Simplification

The cost reduction program is ahead of plan, targeting $200 million in cash savings, reducing the EBITDA breakeven point to under $1 billion on an annualized basis.

200-Millimeter Wafer Production

Wolfspeed is the first to begin commercial production of 200-millimeter substrates, a key competitive advantage, with thousands of wafers shipped and strong yields.

Government Support and Funding

Access to a $2.5 billion funding package, including CHIPS Act funding and 48D tax credits, with ongoing constructive dialogue with the CHIPS program office.

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Wolfspeed (WOLF) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

WOLF Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Apr 30, 2025	2025 (Q3)	-0.82 / -	-0.62	―	―	―
Jan 29, 2025	2025 (Q2)	-1.02 / -0.95	-0.55	-72.73% (-0.40)	―
Nov 06, 2024	2025 (Q1)	-1.00 / -0.91	-0.53	-71.70% (-0.38)	―
Aug 21, 2024	2024 (Q4)	-0.85 / -0.89	-0.42	-111.90% (-0.47)	―
May 01, 2024	2024 (Q3)	-0.63 / -0.62	-0.13	-376.92% (-0.49)	―
Jan 31, 2024	2024 (Q2)	-0.63 / -0.55	-0.11	-400.00% (-0.44)	―
Oct 30, 2023	2024 (Q1)	-0.67 / -0.53	-0.04	-1225.00% (-0.49)	―
Aug 16, 2023	2023 (Q4)	-0.20 / -0.42	-0.02	-2000.00% (-0.40)	―
Apr 26, 2023	2023 (Q3)	-0.15 / -0.13	-0.12	-8.33% (-0.01)	―
Jan 25, 2023	2023 (Q2)	-0.13 / -0.11	-0.16	31.25% (+0.05)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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WOLF Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jan 29, 2025	$6.00	$6.09	+1.50%
Nov 06, 2024	$13.71	$8.33	-39.24%
Aug 21, 2024	$13.51	$12.83	-5.03%
May 01, 2024	$26.11	$23.56	-9.77%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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