Loading...
•
Dec 28, 2025
Wolfspeed Q2 2026 Earnings Report
Wolfspeed reported financial results for the second quarter of fiscal 2026, with AI Datacenter Revenue up 50% QoQ and a $200 Million Annualized Operating Expense Reduction Compared to Q2 FY 2025.
Key Takeaways
Wolfspeed reported a consolidated revenue of $168.5 million for the second quarter of fiscal 2026, with a GAAP net loss of $150.6 million. The company achieved significant operating cost reductions and capital expenditure decreases, while maintaining a strong balance sheet with $1.3 billion in cash and short-term investments.
Received approximately $700 million in Section 48D cash tax refunds, with $175 million used to retire long-term debt.
Achieved a cumulative reduction of operating expenses of approximately $200 million on an annualized basis and capital expenditures down 90% compared to Q2 FY 2025.
Completed the shutdown of the 150mm device production at Durham fab one month ahead of schedule.
Demonstrated a single-crystal 300-millimeter silicon carbide wafer, showcasing commitment to technology leadership.
Revenue by Segment
Forward Guidance
For the fiscal third quarter, Wolfspeed expects revenue between $140 million and $160 million, driven by accelerated fiscal first half customer purchases and weaker EV demand. Operating expenses are projected to be flat to slightly down sequentially, and gross margin is expected to remain negative but improve quarter over quarter.
Positive Outlook
- Operating expenses expected to be flat to slightly down sequentially due to management's focus on controlling costs.
- Gross margin expected to improve quarter over quarter due to ongoing operational actions.
- Continued focus on controlling operating costs through already implemented actions.
- Strategic shift to 200mm silicon carbide offerings is expected to yield long-term benefits.
- Strong balance sheet provides runway and financial flexibility post-emergence.
Challenges Ahead
- Revenue decline driven by accelerated fiscal first half customer purchases.
- Certain customers built up inventory from the Durham fab prior to its planned closure.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...