Wolfspeed (WOLF) investor relations material

Executive summary

• Q3 FY2026 revenue reached $150.2 million, matching guidance and reflecting stable execution and progress on technology leadership, financial discipline, and operational excellence.

• Achieved sequential quarterly growth of ~30% in AI data center applications, expanding long-term business potential.

• Launched the first commercially available 10kV SiC power MOSFET and next-gen TOLT portfolio, targeting grid modernization and AI data center infrastructure.

• Completed CFIUS clearance and equity issuance to Renesas, finalizing Chapter 11 procedures and improving equity position.

• Organizational realignment around verticals and new regional leadership appointments are driving improved go-to-market execution.

Financial highlights

• Q3 FY26 consolidated revenue was $150.2M; Power Products revenue was $100.1M and Materials Products revenue was $50.1M.

• GAAP gross margin was (27)%, non-GAAP gross margin (21)%; gross margin improved sequentially due to better product mix and inventory accounting.

• Adjusted EBITDA was ($61.7M); operating cash flow was ($83.8M); net capital expenditures were $5M after $33M in incentive receipts.

• Ended the quarter with $1.2B in cash, cash equivalents, and short-term investments.

• GAAP net loss was $119.9M; diluted loss per share was ($3.05) GAAP, ($3.26) non-GAAP.

Outlook and guidance

• Q4 FY2026 revenue guidance is $140M–$160M; non-GAAP gross margin expected to remain negative and OPEX to be flat quarter-over-quarter.

• Long-term goal is to return to above-market revenue growth, diversify the customer base, and achieve EBITDA and cash flow profitability.