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Sep 25, 2022
Wolfspeed Q1 2023 Earnings Report
Reported a 54% year-over-year quarterly revenue increase and design-ins totaling $3.5 billion.
Key Takeaways
Wolfspeed reported a revenue of $241.3 million, a GAAP gross margin of 33.1%, and design-ins totaling $3.5 billion. The company's near term revenue guidance is impacted by manufacturing and supply challenges.
Revenue of $241.3 million, compared to $156.6 million
GAAP gross margin of 33.1%, compared to 31.5%
GAAP net loss of $26.2 million, or $0.21 per diluted share, compared to $70.1 million, or $0.60 per diluted share
Quarterly design-ins of $3.5 billion
Wolfspeed
Wolfspeed
Forward Guidance
For its second quarter of fiscal 2023, Wolfspeed targets revenue in a range of $215 million to $235 million. GAAP net loss is targeted at $83 million to $93 million, or $0.67 to $0.75 per diluted share. Non-GAAP net loss is targeted to be in a range of $10 million to $20 million, or $0.08 to $0.16 per diluted share.