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Mar 30, 2025
Wolfspeed Q3 2025 Earnings Report
Wolfspeed reported a decrease in consolidated revenue and a significant GAAP net loss for the third quarter of fiscal year 2025, primarily impacted by underutilization costs.
Key Takeaways
Wolfspeed's consolidated revenue for Q3 FY2025 was $185.4 million, a decrease from $200.7 million in the prior year. The company reported a GAAP net loss of $285.5 million and a GAAP loss per share of ($1.86). Despite the financial losses, Wolfspeed highlighted progress in strengthening its capital structure and strategic initiatives, including a significant increase in Mohawk Valley Fab revenue.
Consolidated revenue for the quarter decreased to $185 million, compared to $201 million in the same period last year.
The company reported a GAAP gross margin of (12)% and a GAAP loss per share of ($1.86).
Mohawk Valley Fab significantly increased its revenue contribution to $78 million, up from $28 million in the prior year.
Wolfspeed made significant progress on strengthening its capital structure, including completing a $200 million ATM offering and receiving $192 million in Section 48D cash tax refunds.
Revenue by Segment
Forward Guidance
Wolfspeed's forward-looking statements primarily highlight various risks and uncertainties that could cause actual results to differ materially from expectations, rather than providing specific positive financial guidance.
Positive Outlook
- The report does not provide explicit positive forward guidance for future financial performance.
Challenges Ahead
- Ongoing uncertainty in global economic and geopolitical conditions, including military conflicts, could negatively impact results.
- Changes in customer or industrial demand, including economic slowdowns or recessions, may adversely affect product demand.
- Risks associated with expansion plans, such as design and construction delays, cost overruns, and issues with production ramp-up and yields.
- Challenges in obtaining additional funding on favorable terms and addressing the capital structure.
- The risk that markets for products, particularly for electric vehicles, may not develop as expected.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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