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Wolfspeed (WOLF) investor relations material
Wolfspeed Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Emerged from Chapter 11 bankruptcy on September 29, 2025, adopting fresh start accounting, reducing total debt by approximately 70%, and ending the quarter with $1.3 billion in cash and equivalents.
Achieved 50% quarter-over-quarter growth in AI data center revenue, driven by new customer wins in automotive, industrial, and wind energy sectors.
Completed shutdown of Durham 150mm fab ahead of schedule, transitioning production to Mohawk Valley 200mm fab and benefiting gross margin.
Demonstrated 300mm silicon carbide wafer, marking a significant technology milestone.
Refocused strategy on financial discipline, technology leadership, and operational excellence, with a diversified go-to-market approach across automotive, industrial & energy, aerospace & defense, and materials.
Financial highlights
Q2 FY26 revenue was $168.5 million, with $75–76 million from Mohawk Valley; Power Products revenue was $118.3 million and Materials Products revenue was $50.2 million.
Non-GAAP gross margin was -34%, while GAAP gross margin was -46%, both impacted by underutilization and inventory step-ups.
Adjusted EBITDA for Q2 was negative $81.8 million.
Operating expenses reduced by $200 million annualized; CAPEX down 90% YoY to $31 million.
Ended the quarter with $1.3 billion in cash, cash equivalents, and short-term investments.
Outlook and guidance
Q3 FY26 revenue expected between $140 million and $160 million, reflecting customer inventory build and weaker EV demand.
Operating expenses projected flat or slightly down sequentially; gross margin to remain negative but expected to improve.
Long-range plan and financial targets update anticipated in the first half of calendar 2026.
Liquidity expected to be sufficient for at least the next 12 months, supported by cash, investments, and operating cash flows.
- TimeTickerHeadlineOpen
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Q3 revenue up 3% to $1.16B, net income $25M, strong cash flow, Ligado boost, satellite focus. - 6 FebWEC
Targets 7–8% EPS growth, $37.5B capex, and coal exit by 2032 amid surging data center demand. - 6 FebBR
Q2 FY26 recurring revenue grew 8% and adjusted EPS guidance was raised to 9-12%. - 6 FebFFWM
Merger vote includes new non-voting stock class with limited conversion and no voting rights. - 6 FebKKR
Charter amendments seek to modernize governance and establish one share, one vote by 2026. - 6 FebARI
Proposed $9B real estate loan portfolio acquisition highlights disciplined, long-term strategy. - 6 FebSMCI
Q2 revenue jumped 123% to $12.7B, with FY26 guidance raised to at least $40B. - 6 FebRJF
Record revenues and assets, higher dividend, and acquisitions despite lower net income. - 6 FebFFIE
Raising capital for global EV and AI expansion, with regulatory and dilution risks highlighted.
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