Wolfspeed Tops Guidance Midpoint With $155M Revenue, Guides Q2 to $155M-$175M
WOLF sits 66% above its 52-week low of $13.485.
Summary
Wolfspeed posted fiscal Q1 2027 revenue of $155 million, above the midpoint of its guidance range, versus $196.8 million a year earlier. Non-GAAP gross margin improved 710 basis points sequentially to (13)%, though GAAP gross margin was still (22)% and the GAAP net loss was $144 million. Cash burn remains the core issue: operating cash flow was ($84) million and free cash flow ($96.5) million, leaving $1 billion in cash and short-term investments at quarter end. Guidance for fiscal Q2 calls for $155-$175 million in revenue with non-GAAP gross margin approaching breakeven and non-GAAP opex of $65-$69 million. The quarter follows the conditional $1.5 billion, 30-year loan commitment from the U.S. Department of War announced October 7th and the expanded 200mm silicon carbide supply agreement with Infineon on October 15th; management says the loan, once closed, would deliver significant annual interest savings. Interest expense of $40 million net against a $144 million quarterly loss keeps the balance sheet the swing factor.
At the time of this announcement, WOLF was trading at $22.33 on NYSE in the Technology sector, with a market capitalization of approximately $1.2B. The 52-week trading range was $13.49 to $80.82. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: BusinessWire.