Wolfspeed | 10-Q: FY2026 Q1 Revenue Beats Estimate at USD 196.8 M

LB filings
2025.11.07 21:09
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Revenue: As of FY2026 Q1, the actual value is USD 196.8 M, beating the estimate of USD 195.37 M.

EPS: As of FY2026 Q1, the actual value is USD -4.12.

EBIT: As of FY2026 Q1, the actual value is USD -169.6 M.

Segment Revenue

  • Power Products: Revenue increased to $131.8 million from $97.1 million, a 36% increase, primarily due to growth in the automotive end market and increased revenue through the distribution channel.
  • Materials Products: Revenue decreased to $65.0 million from $97.6 million, a 33% decrease, primarily due to substrate customers adjusting orders to match weaker end market demand.

Operational Metrics

  • Gross Loss: Increased to -$77.1 million from -$36.2 million, with gross margin decreasing to -39.2% from -18.6%.
  • Operating Loss: Decreased to -$161.4 million from -$230.1 million.
  • Net Loss: Increased to -$643.6 million from -$282.2 million.

Cash Flow

  • Operating Cash Flow: Cash provided by operating activities was $5.7 million compared to cash used in operating activities of -$132.0 million.
  • Investing Cash Flow: Net cash provided by investing activities was $136.9 million compared to net cash used in investing activities of -$193.0 million.
  • Financing Cash Flow: Net cash used in financing activities was -$39.0 million compared to net cash provided by financing activities of $4.8 million.

Unique Metrics

  • Reorganization Items, Net: Included professional fees and debt valuation adjustments totaling $503.8 million.

Future Outlook and Strategy

  • Core Business Focus: The company is focused on accelerating product innovation, optimizing manufacturing processes, and improving financial performance, including capital structure optimization.
  • Non-Core Business: The company plans to continue pursuing federal funding opportunities and expects to receive additional incentives related to the AMIC refundable tax credits during fiscal 2026.

Priority

  • The company emphasizes the transition to 200mm substrate production as critical to achieving manufacturing scale and cost competitiveness.
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