Wolfspeed reports $197M rev, GAAP loss $4.12; Q2 guidance $150-190M

WOLFSPEED, INC.

2026-Q2 EPS reported $2.22 revenue$196,800,000

Revenue $197M nearly flat YoY ($195M); Mohawk Valley Fab contributed $97M vs $49M.
GAAP loss per share $(4.12) includes $504M reorganization items; adj loss $(0.55) improves from $(0.91).
GAAP gross margin (39)% vs (19)%; non-GAAP (26)% vs 3%; underutilization costs $47M.
Cash & equivalents $926M; emerged from Chapter 11 on Sep 29, 2025; fresh-start accounting expected in Q2.
Q2 revenue guidance $150M-$190M; cites customer inventory build and market softness; no long-term model update.

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