Earnings Releases·Nov 4, 2026, 4:20 PM ET

Wolfspeed — First Quarter Fiscal 2027 Earnings Summary

Consolidated revenue declined to $155.0 million from $196.8 million year-over-year, while GAAP gross margin improved to (22)% from (39)% and Non-GAAP gross margin improved 710 basis points sequentially to (13)%.
The company reported a GAAP net loss of $143.8 million ($2.61 per share) compared to $643.6 million in the prior year, with operating cash flow and free cash flow at ($84.2) million and ($96.5) million, respectively.
Management targets Q2 fiscal 2027 revenue between $155 million and $175 million and expects sequential non-GAAP gross margin to approach breakeven, viewing fiscal 2027 as a turning point for sustainable growth.
Strategic developments include a conditional $1.5 billion loan commitment from the U.S. Department of War, an expanded 150mm/200mm supply agreement with Infineon, and a new multiyear agreement with BorgWarner.
Cash and short-term investments decreased to $995.1 million from $1,088.6 million the prior quarter, while total liabilities stood at $2,071.5 million.