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Dec 25, 2022
Wolfspeed Q2 2023 Earnings Report
Reported a 25% year-over-year quarterly revenue growth and design-ins totaling $1.5 billion.
Key Takeaways
Wolfspeed reported Q2 fiscal year 2023 results with revenue of $216.1 million, a GAAP net loss of $90.9 million, and quarterly design-ins of $1.5 billion. The company is progressing with its expansion plans, including the construction of a new materials factory and the ramp-up of its Mohawk Valley device fab.
Revenue reached $216.1 million, compared to $173.1 million in the second quarter of fiscal 2022.
GAAP net loss was $90.9 million, or $0.73 per diluted share, compared to $96.7 million, or $0.82 per diluted share in the second quarter of fiscal 2022.
Non-GAAP net loss was $14.2 million, or $0.11 per diluted share, compared to $18.6 million, or $0.16 per diluted share in the second quarter of fiscal 2022.
Quarterly design-ins totaled $1.5 billion.
Wolfspeed
Wolfspeed
Forward Guidance
For its third quarter of fiscal 2023, Wolfspeed targets revenue in a range of $210 million to $230 million. GAAP net loss is targeted at $81 million to $88 million, or $0.65 to $0.71 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.