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Dec 26, 2021
Wolfspeed Q2 2022 Earnings Report
Reported strong revenue growth driven by accelerating demand.
Key Takeaways
Wolfspeed reported revenue of $173.1 million for Q2 2022, a 36% increase compared to Q2 2021. GAAP net loss was $96.7 million, or $0.82 per diluted share, while non-GAAP net loss was $18.6 million, or $0.16 per diluted share.
Delivered strong revenue at the high end of guidance.
Achieved sixth straight quarter of revenue growth.
Successfully growing and converting opportunities in the device pipeline.
Confident in the long-term outlook, strategy, and path forward.
Wolfspeed
Wolfspeed
Forward Guidance
For its third quarter of fiscal 2022, Wolfspeed targets revenue in a range of $185 million to $195 million. GAAP net loss is targeted at $66 million to $71 million, or $0.53 to $0.57 per diluted share. Non-GAAP net loss is targeted to be in a range of $15 million to $20 million, or $0.12 to $0.16 per diluted share.
Positive Outlook
- Revenue target: $185 million to $195 million
- Non-GAAP net loss target: $15 million to $20 million
- Non-GAAP diluted loss per share target: $0.12 to $0.16
Challenges Ahead
- GAAP net loss target: $66 million to $71 million
- GAAP diluted loss per share target: $0.53 to $0.57