WOLF

TORONTO, Aug. 25, 2026 /CNW/ -- Grey Wolf Health Corp. (TSXV: WOLF) ("Grey Wolf" or the "Company"), a Canadian diversified health company, today announced financial results for the three- and six- months ended June 30, 2026. All results are reported in Canadian dollars. Highlights Revenue for the quarter increased year over year by 11.1% to $10.6 million. Revenue increased by 10.8% to $19.3 million for the first six months of the year. Gross profit increased year over year by 10.5% to $5.9 million for the quarter and 11.8% to $10.6 million for the first six months of the year. Adjusted EBITDA1 decreased year over year by 7.5% to $2.0 million for the quarter. Adjusted EBITDA1 increased slightly year over year by 1.3% to $3.5 million for the first six months of the year. "We posted another solid quarter of revenue growth while investing in our business to support our ongoing expansion initiatives," said Angela Cechetto, Chief Executive Officer. "Our Pharmacy business grew organically year-over-year by 9.3% to $6.7 million due to an increase in sales of compounded products during the quarter. Meanwhile, our Animal Health business was up 14.2% year-over-year to $3.9 million in the quarter due to increased sales of established and new products, particularly in our gastrointestinal, behavior and end-of-life portfolios." Ms. Cechetto continued, "Adjusted EBITDA1 was up slightly year to date versus 2025 as we continue to invest in people, a new ERP system and a new compounding facility. We appointed a new Vice President of Sales & Marketing to lead our commercial activities across both the Pharmacy and Animal Health business units. We also announced a name change of the company to Grey Wolf Health Corp., better reflecting our expanded strategic focus across human and animal health. These initiatives are focused on advancing our growth strategy to organically double Adjusted EBITDA1 by the end of 2030." Key Financial Data and Comparative Results Results of Operations for the Three- and Six- Months ended June 30, 2026 Total revenue for the three- and six- month periods ended June 30, 2026 increased 11.1% to $10.6 million and 10.8% to $19.3 million, respectively, compared to the same period in 2025. Revenue in the Pharmacy business increased by 9.3% to $6.7 million and 9.1% to $12.4 million respectively, compared to the same three- and six-month periods in 2025 due to growth in sales of compounded products. In the Animal Health business, revenue grew year over year by 14.2% to $3.9 million and 14.0% to $7.0 million, respectively, in the three- and six-month periods in 2026 due to increased sales in established and new products. Gross profit margins for the three- and six-month periods ended June 30, 2026 were mostly unchanged at 55.5% from 55.8% and 54.9% from 54.4% compared to the same periods in 2025. Gross profits were impacted by increased margins in the Animal Health business unit as a result of product mix, offset by reduced margins in the Pharmacy business unit as a result of increased material and labour costs. Total expenses for the three- and six-month periods ended June 30, 2026, increased 21.2% to $4.6 million and 16.2% to $8.7 million, respectively, over the same periods in 2025. During the six-month period, there was an increase in salary, bonuses, and benefits related to operational growth, an increase in professional and outside services in support of the ERP implementation, and an increase in freight and other expenses. Adjusted EBITDA1 for the three- and six-month periods ended June 30, 2026 decreased 7.5% to $2.0 million and increased by 1.3% to $3.5 million, respectively, compared to the same periods in 2025. Adjusted EBITDA1 was impacted by a decrease in net income, offset by foreign exchange losses and one-time implementation costs for the period ended June 30, 2026. Cash and cash equivalents were $8.9 million at June 30, 2026 compared to $7.7 million at December 31, 2025. The Company generated cash from operations of $2.2 million, which was primarily impacted by net income for the current period offset by changes in non-cash working capital items, most significantly changes in trade and other receivables and accounts payable and accrued liabilities. As at June 30, 2026, the Company had outstanding borrowings of $24.1 million, of which $2.1 million are current and $22.0 million are non-current. The Company repaid borrowings of $0.5 million in the quarter and $1.0 million since December 31, 2025. The Company's debt consists of three fixed rate term loans, including a mortgage of $4.4 million secured against our Manitoba facility. Subsequent to the quarter-end, the Company extended the term of the CWB credit loan having a balance of $6.7 million at June 30, 2026 until August 2027. Grey Wolf's financial statements and accompanying Management's Discussion and Analysis for the three- and six-months ended June 30, 2026 are available under the Company's profile on www.sedarplus.ca. This news release is not in any way a substitute for reading those financial statements, including the notes to the financial statements. 1Non-IFRS Measures Management uses both IFRS and Non-IFRS Measures to assess the financial and operating performance of the Company's operations. These Non-IFRS Measures are not recognized measures under IFRS, do not have a standardized meaning under IFRS and are unlikely to be comparable to similar measures presented by other companies. The Non-IFRS Measures referenced in this press release includes Adjusted EBITDA. The Company defines Adjusted EBITDA as earnings before transaction costs (including, for greater certainty, transaction costs related to the CPM Acquisition), one-time implementation costs, interest income, interest and accretion expense, income taxes, depreciation of property and equipment, depreciation of right of use assets, amortization of intangible assets, share-based compensation, foreign exchange gains or losses. The Company considers Adjusted EBITDA as an additional metric in assessing business performance and an important measure of operating performance and cash flow, providing useful information to help analyze and compare profitability between companies for investors and analysts. The following table provides a summary of the differences between Grey Wolf's consolidated IFRS and Non-IFRS financial measures, which are reconciled below: EBITDA and Adjusted EBITDA About Grey Wolf Health Corp.‎ Grey Wolf Health Corp., headquartered in Toronto, Canada, is a diversified health ‎company focused on bringing to market a broad portfolio of products that meets the ‎unmet needs of veterinarians, physicians and patients. The Company's strategy is to in-license, acquire or compound prescription and non-prescription products for commercialization in the animal and human health market ‎in Canada. For additional information, please visit: www.greywolfah.com.‎ Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. Forward Looking Statements Certain information included in this press release contains forward-looking information with the meaning of applicable Canadian securities laws. This information includes statements concerning the Company's objectives, its strategies to achieve those objectives, as well as statements with respect to management's beliefs, plans, estimates, and intentions, and similar statements concerning anticipated future events, results, circumstances, performance or expectations that are not historical facts, including statements regarding the new facility in Ancaster, Ontario. Forward-looking information generally can be identified by the use of forward-looking terminology such as "outlook", "objective", "may", "will", "would", "expect", "intend", "estimate", "anticipate", "believe", "should", "plan", "continue", or similar expressions suggesting future outcomes or events or the negative thereof. Such forward-looking information reflects management's beliefs and is based on information currently available. All forward-looking information in this press release is qualified by the following cautionary statements. Forward-looking information necessarily involve known and unknown risks and uncertainties, which may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, assumptions may not be correct and objectives, strategic goals and priorities may not be achieved. A variety of factors, many of which are beyond the Company's control, affect the operations, performance and results of the Company and its subsidiaries, and cause actual results to differ materially from current expectations of estimated or anticipated events or results. A more detailed assessment of the risks that could cause actual results to materially differ than current expectations is contained in the Risk Factors section of Grey Wolf's Management's Discussion and Analysis for the three- and six-months ended June 30, 2026. The forward-looking information included in this press release is made as of the date hereof and should not be relied upon as representing the Company's views as of any date subsequent to the date hereof. Management undertakes no obligation, except as required by applicable law, to publicly update or revise any forward-looking information, whether as a result of new information, future events or otherwise. View original content: http://www.newswire.ca/en/releases/archive/August2026/25/c5778.html

Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Management attributes the quarter's stability to a refreshed leadership team and a customer-centric sales strategy that is successfully diversifying revenue beyond historical automotive concentrations. The AI data center segment emerged as a primary growth engine, with revenue doubling year-over-year and growing 20% sequentially, driven by the transition to 800-volt architectures. Operational focus has shifted toward maximizing earnings potential per dollar of invested capital by producing equivalent revenue with lower capacity consumption. Technology leadership was reinforced by the launch of Gen 5 MOSFETs and Gen 5 MOSFET technology, which management claims offers industry-leading specific on-state resistance, and 10-kilovolt MOSFET commercial readiness. Vertical integration remains a core strategic pillar, with management asserting that controlling the substrate-to-device process enables performance leaps that competitors cannot easily replicate. The company is leveraging its 200-millimeter Mohawk Valley facility as a competitive moat, providing a low-risk volume production path for customers transitioning from 150-millimeter designs. Management targets gross margin neutrality at an approximate annual revenue run rate of $800 million, though the exact breakeven point remains sensitive to product and end-market mix. Future growth in the data center ecosystem is expected to expand beyond power supplies into battery backup units, super capacitors, and high-voltage DC-to-DC conversion. The transition of materials customers from 150-millimeter to 200-millimeter substrates is viewed as a long-term growth opportunity, with engineering samples currently undergoing evaluation. Guidance for Q1 fiscal 2027 assumes continued growth in the device business, partially offset by product mix changes among automotive OEMs and inventory digestion among materials customers. Management remains committed to aggressive debt reduction and cost-of-capital optimization to improve cash flow and support long-term value creation. The company reduced its debt principal by $46 million through a voluntary conversion of 2L convertible notes to equity, resulting in $1 million in annual interest savings. A dedicated data center solutions team was established in the San Francisco Bay area to capitalize on high-voltage power architecture needs for AI infrastructure. A memorandum of understanding was signed with GE Aerospace to co-develop standard high-voltage power modules using the industry's first commercially available 10-kilovolt SiC MOSFET. Inventory reduction efforts contributed $41 million to operating cash flow in Q4, reflecting a disciplined approach to working capital management. One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here. Management noted that while they cannot influence end-customer demand, global diversification efforts are providing better traction across both sectors. Visibility remains limited as automotive OEMs navigate product mix changes, but new design wins with European Tier 1 suppliers provide confidence in the pipeline. Revenue growth is tied to the deployment of 800-volt architectures and solid-state transformers (SSTs) using 2.3kV and 3.3kV devices. The 200-millimeter Mohawk Valley fab is positioned as the primary vehicle for meeting hyperscaler demand for reliability and volume supply assurance. Refinancing the first lien debt, currently at 16% interest, is the highest priority to improve cash flow. Management explicitly stated they have no interest in splitting the materials and power businesses, arguing that vertical integration is a critical performance differentiator.

Track your investments for FREE with Simply Wall St, the portfolio command center trusted by over 7 million individual investors worldwide. Wolfspeed (WOLF) is back in focus after reporting fourth quarter and full year 2026 results, with quarterly revenue of $149.6 million, a smaller net loss, and positive full year net income of $4.4 million. See our latest analysis for Wolfspeed. Wolfspeed's latest earnings and AI data center updates came alongside a sharp 90 day share price return decline of 58.14%. However, the year to date share price return is still up 53.67%, suggesting momentum has recently faded after an earlier rebound. If you are looking beyond Wolfspeed and want more ideas linked to AI infrastructure, this could be a useful moment to scan 56 AI infrastructure stocks The recent slide in Wolfspeed's share price came even as losses narrowed and AI data center demand featured more prominently. Is the stock now reflecting the current business, or a sharp swing in sentiment that valuation needs to unpack next? Wolfspeed's valuation currently hinges on a P/S ratio of 2.1x, which investors can compare against both peers and an estimated fair level for this stock. The P/S ratio compares the company's market value to its revenue. For a business like Wolfspeed that is currently unprofitable, this metric is often used in place of P/E to frame how much investors are paying for each dollar of sales. On this measure, Wolfspeed screens as good value against the US Semiconductor industry average P/S of 6.8x and an even higher peer group average of 9.8x. However, it is described as expensive relative to an estimated fair P/S of 1x, which suggests the current 2.1x level is above where the market could normalize if sentiment or expectations cooled. Explore the SWS fair ratio for Wolfspeed Result: Price-to-Sales of 2.1x (ABOUT RIGHT) However, Wolfspeed still carries risks, including ongoing net losses of $519.6 million and significant exposure to cyclical sectors such as electric vehicles and AI data centers. Find out about the key risks to this Wolfspeed narrative. Given the mixed tone around Wolfspeed, it makes sense to review the underlying data yourself and move quickly to shape your own view using the 3 important warning signs. If you want a broader view than Wolfspeed alone, this is a good moment to scan other opportunities and build a watchlist that fits your goals. Target resilient returns by checking companies that feature in our 78 resilient stocks with low risk scores. Spot potential mispricings early by reviewing the 52 high quality undervalued stocks before everyone else catches on. Strengthen your income stream by considering stocks featured in the 12 dividend fortresses. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include WOLF. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email [email protected]

This article first appeared on GuruFocus. Total Revenue: $150 million for Q4 fiscal 2026, in line with the midpoint of guidance. Materials Revenue: Approximately $43 million. Power Revenue: Approximately $106 million, representing 6% sequential growth. AI Data Center Revenue: Increased approximately 20% from Q3 to Q4 and more than doubled from fiscal 2025 to fiscal 2026. Gross Margin (Non-GAAP): Negative 19.9%, a 70 basis point sequential improvement. Operating Expenses (Non-GAAP): $62 million in Q4, versus $61 million in the prior quarter. Adjusted EBITDA (Non-GAAP): Negative $62 million, comparable to the prior quarter. Capital Expenditures: $5 million in Q4, versus $38 million in the prior quarter. Operating Cash Flow: Negative $54 million, including a $41 million benefit from inventory reduction. Cash and Short-Term Investments: Approximately $1.1 billion at quarter end. Net Debt: Approximately $600 million at quarter end. Debt Reduction: $46 million of convertible notes converted to equity, resulting in approximately $1 million in annual interest expense savings. Q1 Fiscal 2027 Revenue Guidance: Between $140 million and $160 million. Q1 Fiscal 2027 Operating Expense Guidance (Non-GAAP): Expected to be in the range of $62 million to $66 million. Warning! GuruFocus has detected 2 Warning Sign with WOLF. Is WOLF fairly valued? Test your thesis with our free DCF calculator. Release Date: August 19, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Wolfspeed Inc (NYSE:WOLF) delivered Q4 revenue of $150 million, at the midpoint of guidance, demonstrating consistent execution. AI data center revenue more than doubled in fiscal 2026 and grew approximately 20% sequentially, driven by new design wins with leading companies like LITEON. The company announced its Gen 5 MOSFET technology, which offers the industry's best specific on-state resistance, providing a significant performance leap. Wolfspeed Inc (NYSE:WOLF) secured new automotive business, including a first-time award from a European Tier 1 supplier for a large German OEM's onboard charger. The company strengthened its balance sheet with $1.1 billion in cash and reduced debt through voluntary conversions, while also making progress on its 300-millimeter roadmap by shipping first engineering samples. Gross margin improved by 70 basis points sequentially, driven by favorable product mix and higher sales in AI data centers and RF materials. Wolfspeed Inc (NYSE:WOLF) continues to face significant profitability challenges, with a non-GAAP gross margin of -19.9% and negative adjusted EBITDA of -$62 million. Factory underutilization remains a primary drag on gross margins, and the company expects gross margins to remain negative in the next quarter. Automotive revenue remained soft, with the company noting that demand is hard to predict due to customer product mix changes. Operating cash flow was negative $54 million in Q4, highlighting ongoing cash burn despite inventory reductions. The company's first lien debt carries a high interest rate of around 16%, and refinancing it is a key priority to reduce interest expenses. Materials revenue is in a transition period as customers shift from 150-millimeter to 200-millimeter substrates, creating uncertainty in near-term demand. Q: Can you provide any timeline for when data center revenue will become more meaningful, and how much of that growth is tied to the 800-volt architecture versus broader AI deployments?A: CEO Robert Feurle stated that the data center business more than doubled from fiscal 2025 to fiscal 2026, with approximately 20% sequential growth in Q4. The demand is driven by two key factors: the deployment of 800-volt architectures, which is a major milestone currently undergoing qualifications across the ecosystem, and the broader deployment of solid-state transformers (SSTs). Wolfspeed is well-positioned to capitalize on this demand with its 2.3kV and 3.3kV devices, which are manufactured at its 200-millimeter Mohawk Valley fab, providing a significant competitive advantage in meeting customer ramp requests. Q: What level of Mohawk Valley utilization or revenue is needed for gross margins to flip positive?A: CFO Gregor Van Issum explained that gross margin neutrality is the next major milestone, driven primarily by volume growth due to the company's high fixed-cost structure. While the inherent profitability of products is solid, asset utilization is the key lever. He estimated that an annual revenue run rate of approximately $800 million would be the ballpark for breakeven gross margin, though this could vary by plus or minus several million depending on the product mix between devices and materials. Q: What are you seeing in the automotive and industrial markets, and are you confident that June was the bottom for this business?A: CEO Robert Feurle noted that the company's diversification efforts across a broader global customer base are beginning to pay off. While Wolfspeed cannot influence end-customer demand, the company is seeing good traction in both the Industrial & Energy (I&E) and automotive spaces, highlighted by a new design win with a German OEM for onboard charging. However, he cautioned that predicting overall demand is difficult, as some customers are undergoing product mix changes, particularly on the automotive side. Q: Can you discuss the progression of AI-related products and design wins, including the LITEON announcement and the timeline for solid-state transformers (SSTs)?A: CEO Robert Feurle detailed the product portfolio progression, which spans from 750V devices to 2.3kV and 3.3kV modules for SSTs. The company is engaged across the entire power supply ecosystem, including named partners like LITEON and MACOM. The key challenge is getting hyperscalers comfortable with the reliability of SSTs. Wolfspeed's advantage lies in its completed 6-inch to 8-inch transition and vertical integration, which allows it to supply substrates and products from the Mohawk Valley fab, making it ready to ramp production as customers deploy these new architectures. Q: What actions can be taken regarding cash management, specifically around refinancing the first lien (L1) debt, and what would that save in annual interest?A: CFO Gregor Van Issum confirmed that the first lien debt is the highest priority to refinance, currently carrying an interest rate of around 16%. On the $630 million of outstanding debt, refinancing would result in meaningful savings. In Q4, the company spent $32 million in cash interest out of a total of $54 million in negative operating cash flow, highlighting the significant impact that reducing this debt would have on cash burn. Q: Would retiring the L1 debt unencumber the ability to break the business into materials and power segments?A: CFO Gregor Van Issum dismissed the relevance of this question, stating the company has absolutely no interest in breaking up the business. He emphasized that the vertically integrated model is a key performance differentiator, citing the Gen 5 product performance leap announced at PCIM as evidence. He believes this achievement is partly attributable to vertical integration, making the question of whether it's allowed or not irrelevant to the company's strategy. Q: How should we think about materials revenue going forward, and when will 200-millimeter materials begin contributing more meaningfully?A: CEO Robert Feurle explained that the company is working with all major customers on qualifying 200-millimeter materials, while some are still digesting inventory levels. The company is in a transition year from 150-millimeter to 200-millimeter, with some LTAs running out and others continuing. As the overall silicon carbide market grows and customers transition to 8-inch, Wolfspeed is well-positioned with leading-edge quality and technology to take full advantage of this shift. Q: Can you elaborate on the progress and strategic importance of the Gen 5 MOSFET technology and the 10-kilovolt MOSFET?A: CEO Robert Feurle highlighted that the Gen 5 MOSFET, developed at the 200-millimeter Mohawk Valley facility, delivers the best specific on-state resistance in the industry while maintaining excellent switching behavior. This enables more compact traction inverters, extended EV driving range, and improved charging infrastructure. Additionally, the 10-kilovolt MOSFET was acknowledged as the top innovation at PCIM, and the company announced an MOU with GE Aerospace to accelerate adoption of high-voltage silicon carbide across industrial, aerospace, and defense markets, strengthening supply chain resilience and aligning with US government priorities. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Wolfspeed (NYSE:WOLF) shares fell sharply in premarket trading on Thursday after the semiconductor manufacturer delivered significantly weaker-than-expected fiscal fourth-quarter results, extending the selloff that began following Wednesday evening’s earnings announcement. The stock dropped 10.5% to $26.03 before the opening bell as investors reacted to substantial misses on both revenue and adjusted earnings. Wolfspeed reported an adjusted loss of $2.26 per share for the fiscal fourth quarter of 2026, considerably wider than the consensus forecast for a loss of $0.52 per share. Quarterly revenue came in at $149.6 million, approximately 33% below analysts’ expectations of $223.55 million. Sales were also around 24% lower than in the corresponding period a year earlier. The scale of the shortfalls reinforced concerns about Wolfspeed’s operating performance, particularly as the company continues to contend with widening losses and negative gross margins. TD Cowen maintained its Hold rating following the earnings announcement, adding to the cautious market reaction and suggesting the firm sees limited potential for a significant near-term recovery in the shares. Management expects first-quarter fiscal 2027 revenue of between $140 million and $160 million. The midpoint of that range broadly matches the analyst consensus estimate of $150.4 million, but the guidance provided little relief after the magnitude of the fourth-quarter earnings and revenue misses. Investors remain focused on Wolfspeed’s ability to improve margins, control losses and establish a clearer route towards sustainable profitability. The company’s partnership with LITEON targeting the AI data centre market remains strategically significant, but the opportunity was insufficient to counter immediate concerns surrounding financial performance. The wider U.S. equity market provided little explanation for the decline. The S&P 500 was broadly unchanged, while the Dow Jones traded marginally lower and the Nasdaq was only slightly positive. With power semiconductor peers facing no comparable earnings catalysts during the session, Wolfspeed’s weakness appears predominantly tied to its own results and outlook rather than a broader sector or macroeconomic move. The shares also traded substantially below their $31.50 opening level and moved closer to the lower end of their wide 52-week range of $1.16 to $80.82. Taken together, the large earnings miss, weaker-than-anticipated revenue, continued profitability concerns and TD Cowen’s cautious stance have placed renewed pressure on Wolfspeed shares. While its exposure to areas such as AI data centres offers potential longer-term opportunities, investors appear to be demanding clearer evidence of improving financial performance before assigning greater value to that growth story. Wolfspeed stock price

DURHAM, N.C., August 19, 2026--(BUSINESS WIRE)--Wolfspeed, Inc. (NYSE: WOLF) today announced its results for the fourth quarter of fiscal 2026. Business Highlights AI data center revenue more than doubled year-over-year in fiscal 2026 and increased approximately 20% sequentially in the fourth quarter, demonstrating the long-term potential of this moderate but growing opportunity. Launched fifth-generation SiC MOSFET, representing a significant advancement in the Company's technology roadmap. 10kV MOSFET named "Top Innovation" at the 2026 Power Conversion and Intelligent Motion conference and announced Memorandum of Understanding with GE Aerospace. Launched a dedicated data center solutions team, based in Silicon Valley, to capitalize on and supplement growth in our fastest growing end market and a strategic collaboration with LITEON Technology. Appointed Andy Mattes, experienced public technology company executive, to the Board of Directors. Quarterly Financial Highlights Consolidated revenue of approximately $150 million, aligned with midpoint of guidance range. GAAP gross margin of (25)% and Non-GAAP gross margin of (20)%. GAAP net loss of $145 million and adjusted EBITDA (non-GAAP) of ($62) million. Operating cash flow of ($54) million. $1.1 billion of cash, cash equivalents and short-term investments as of June 28, 2026. "We continued to expand our device business, highlighted by strong growth in AI data center applications and the launch of our fifth-generation SiC MOSFET. These achievements strengthen our technology leadership and confidence in our long-term growth opportunities," said Wolfspeed CEO Robert Feurle. "We are aggressively targeting initiatives to further reduce our debt and cost of capital as well as enhance our financial positioning," said Wolfspeed CFO Gregor van Issum. "During the fourth quarter, our capital structure further improved as holders of $46 million of our convertible notes exercised a voluntary conversion of their debt to equity". Business Outlook: The Company expects to generate revenue between $140 million and $160 million for its first quarter of fiscal 2027 with non-GAAP gross margin expected to remain negative. The Company expects non-GAAP operating expenses between $62 million and $66 million for its first quarter of fiscal 2027. Please see "Non-GAAP Guidance" below for additional information. Quarterly Conference Call: Wolfspeed will provide additional commentary on a conference call at 5:00 p.m. Eastern time today reviewing the highlights of its fourth quarter results. The conference call will be available to the public through a live audio web broadcast via the Internet. For webcast details, visit Wolfspeed's website at investor.wolfspeed.com/events.cfm. About Wolfspeed, Inc. Wolfspeed (NYSE: WOLF) leads the market in the worldwide adoption of silicon carbide technologies that power the world’s most disruptive innovations. As the pioneers of silicon carbide, and creators of the most advanced semiconductor technology on earth, we are committed to powering a better world for everyone. Through silicon carbide material, Power Modules, Discrete Power Devices and Power Die Products targeted for various applications, we will bring you The Power to Make It Real.TM Learn more at www.wolfspeed.com. Fresh Start Accounting: As a result of emerging from a voluntary proceeding under Chapter 11 and qualifying for the adoption of fresh-start accounting, on September 29, 2025 (the "Effective Date"), Wolfspeed’s assets and liabilities were recorded at their estimated fair values which, in some cases, are significantly different than amounts included in our financial statements prior to the Effective Date. Accordingly, our condensed consolidated financial statements after the Effective Date are not comparable with our condensed consolidated financial statements on or before that date. References to "Successor" relate to our financial position and results of operations after the Effective Date. References to "Predecessor" refer to our financial position and results of operations on or before the Effective Date. Non-GAAP Financial Measures: This press release highlights the Company's financial results on both a GAAP and a non-GAAP basis. The GAAP results include certain costs, charges and expenses that are excluded from non-GAAP results. By publishing the non-GAAP measures, management intends to provide investors with additional information to further analyze the Company's performance, core results and underlying trends. Wolfspeed's management evaluates results and makes operating decisions using both GAAP and non-GAAP measures included in this press release. Non-GAAP results are not prepared in accordance with GAAP, and non-GAAP information should be considered a supplement to, and not a substitute for, financial statements prepared in accordance with GAAP. Investors and potential investors are encouraged to review the reconciliation of non-GAAP financial measures to their most directly comparable GAAP measures attached to this press release. Non-GAAP Guidance: This press release includes guidance for Non-GAAP Operating Expenses, which is a non-GAAP financial measure. The Company is unable to provide a quantitative reconciliation of this forward-looking non-GAAP financial measure to the most directly comparable forward-looking GAAP financial measure, GAAP Operating Expenses, without unreasonable effort. This is due to the inherent difficulty in forecasting and quantifying certain future items that are necessary for such a reconciliation. These unavailable items include, but are not limited to, share-based compensation, project, transformation and transaction costs, and restructuring charges, the amounts of which could be material. For the same reasons, the Company is unable to address the probable significance of the unavailable information, which could have a significant impact on our future GAAP financial results. A reconciliation is not available for these periods because these items cannot be predicted with a reasonable degree of certainty. Forward Looking Statements: This press release contains forward-looking statements involving risks and uncertainties, both known and unknown, that may cause Wolfspeed’s actual results to differ materially from those indicated in the forward-looking statements. Forward-looking statements by their nature address matters that are, to different degrees, uncertain, including estimates, forecasts, and projections about possible or assumed future results of Wolfspeed’s business, financial condition, liquidity, results of operations, plans, and objectives and Wolfspeed’s industry and market growth. Words such as "could," "will," "may," "assume," "forecast," "position," "predict," "strategy," "expect," "intend," "plan," "estimate," "anticipate," "believe," "project," "budget," "potential," "forward" or "continue" and similar expressions are used to identify forward-looking statements. All statements in this press release that are not historical are forward-looking statements, including statements regarding Wolfspeed’s position in the industry and long-term growth prospects, our ability to achieve our targets for the first quarter of fiscal 2027 and beyond, initiatives to reduce Wolfspeed's debt and cost of capital and the expected growth in AI data center applications for Wolfspeed's products. Actual results could differ materially due to a number of factors, including but not limited to, risks and uncertainties associated with Wolfspeed's emergence from Chapter 11 bankruptcy, including the potential effects on Wolfspeed's relationship with its various stakeholders, including customers, vendors, contractors, employees or suppliers, its ability to attract, motivate, and/or retain management and key personnel, its ability to retain customers, and third parties willing to do business with Wolfspeed on acceptable terms or at all; ongoing uncertainty in global economic and geopolitical conditions; changes in progress on infrastructure development or changes in customer or industrial demand that could negatively affect product demand, including as a result of an economic slowdown or recession, collectability of receivables and other related matters if consumers and businesses defer purchases or payments, or default on payments; risks associated with Wolfspeed’s expansion plans, including cost overruns, the timing and amount of government incentives actually received, including, among other things, any direct grants and tax credits, issues in installing and qualifying new equipment and ramping production, poor production process yields and quality control, and potential increases to Wolfspeed’s costs; Wolfspeed’s ability to obtain additional funding as needed, including, among other things, from government funding, public or private equity offerings, or debt financings, on favorable terms and on a timely basis, if at all; the risk that Wolfspeed does not meet its production commitments to those customers who provide Wolfspeed with capacity reservation deposits or similar payments; the risk that Wolfspeed may experience production difficulties that preclude it from shipping sufficient quantities to meet customer orders or that result in higher production costs, lower yields and lower margins; Wolfspeed’s ability to lower costs; the risk that Wolfspeed’s results will suffer if it is unable to balance fluctuations in customer demand and capacity, including scaling back its manufacturing expenses or overhead costs quickly enough to correspond to lower than expected demand or bringing on additional capacity on a timely basis to meet customer demand; the risk that longer manufacturing lead times may cause customers to fulfill their orders with a competitor’s products instead; product mix; risks associated with the ramp-up of production of Wolfspeed’s new products, and Wolfspeed’s entry into new business channels and industries different from those in which it has historically operated; Wolfspeed’s ability to convert customer design-ins to design-wins and sales of significant volume, and, if customer design-in activity does result in such sales, when such sales will ultimately occur and what the amount of such sales will be; the risk that the markets for Wolfspeed’s products will not develop as it expects, including the adoption of Wolfspeed’s products by electric vehicle manufacturers and the overall adoption of electric vehicles and our ability to diversify our end markets in medium- to high-voltage verticals such as AI datacenters; the risk that the economic and political uncertainty caused by tariffs imposed or announced by the United States on imported goods, and corresponding tariffs and other retaliatory measures imposed by other countries (including China) in response, may continue to negatively impact demand for Wolfspeed’s products; the risk that Wolfspeed or its channel partners are not able to develop and expand customer bases and accurately anticipate demand from end customers, including production and product mix, which can result in increased inventory and reduced orders as Wolfspeed experiences wide fluctuations in supply and demand; risks related to international sales and purchases; risks resulting from the concentration of Wolfspeed’s business among few customers, including the risk that customers may reduce or cancel orders or fail to honor purchase commitments; the risk that Wolfspeed’s investments may experience periods of significant market value and interest rate volatility causing it to recognize fair value losses on Wolfspeed’s investment; the risk posed by managing an increasingly complex supply chain (including managing the impacts of supply constraints in the semiconductor industry and meeting purchase commitments under take-or-pay arrangements with certain suppliers) that has the ability to supply a sufficient quantity of raw materials, subsystems and finished products with the required specifications and quality; risks relating to outbreaks of infectious diseases or similar public health events, including the risk of disruptions to Wolfspeed’s operations, supply chain, including its contract manufacturers, or customer demand; the risk Wolfspeed may be required to record a significant charge to earnings if its amortizable assets become impaired; risks relating to confidential information theft or misuse, including through cyber-attacks or cyber intrusion; Wolfspeed’s ability to complete development and commercialization of products under development; the rapid development of new technology and competing products that may impair demand or render Wolfspeed’s products obsolete; the potential lack of customer acceptance for Wolfspeed’s products; risks associated with ongoing litigation; the risk that customers do not maintain their favorable perception of Wolfspeed’s brand and products, resulting in lower demand for its products; the risk that Wolfspeed’s products fail to perform or fail to meet customer requirements or expectations, resulting in significant additional costs; risks associated with strategic transactions; the risk that Wolfspeed is not able to successfully execute or achieve the potential benefits of Wolfspeed’s efforts to enhance its value; and other factors discussed in Wolfspeed’s filings with the Securities and Exchange Commission (the "SEC"), including Wolfspeed’s report on Form 10-K for the fiscal year ended June 29, 2025, and subsequent reports filed with the SEC. These forward-looking statements represent Wolfspeed’s judgment as of the date of this press release. Except as required under the U.S. federal securities laws and the rules and regulations of the SEC, Wolfspeed disclaims any intent or obligation to update any forward-looking statements after the date of this press release, whether as a result of new information, future events, developments, changes in assumptions or otherwise. Wolfspeed® is a registered trademark of Wolfspeed, Inc. Non-GAAP Measures of Financial Performance To supplement the Company's consolidated financial statements presented in accordance with generally accepted accounting principles ("GAAP"), Wolfspeed uses non-GAAP measures of certain components of financial performance. These non-GAAP measures include non-GAAP gross margin, non-GAAP operating loss, non-GAAP non-operating (expense) income, net, non-GAAP net loss, non-GAAP diluted loss per share, non-GAAP EBITDA, adjusted EBITDA and free cash flow. These measures are presented for continuing operations only. Reconciliation to the nearest GAAP measure of all historical non-GAAP measures included in this press release can be found in the tables included with this press release. Non-GAAP measures presented in this press release are not in accordance with or an alternative to measures prepared in accordance with GAAP and may be different from non-GAAP measures used by other companies. In addition, these non-GAAP measures are not based on any comprehensive set of accounting rules or principles. Non-GAAP measures have limitations in that they do not reflect all of the amounts associated with Wolfspeed's results of operations as determined in accordance with GAAP. These non-GAAP measures should only be used to evaluate Wolfspeed's results of operations in conjunction with the corresponding GAAP measures. Wolfspeed believes that these non-GAAP measures, when shown in conjunction with the corresponding GAAP measures, enhance investors' and management's overall understanding of the Company's current financial performance and the Company's prospects for the future, including cash flows available to pursue opportunities to enhance shareholder value. In addition, because Wolfspeed has historically reported certain non-GAAP results to investors, the Company believes the inclusion of non-GAAP measures provides consistency in the Company's financial reporting. For its internal budgeting process, and as discussed further below, Wolfspeed's management uses financial statements that do not include the items listed below and the income tax effects associated with the foregoing. Wolfspeed's management also uses non-GAAP measures, in addition to the corresponding GAAP measures, in reviewing the Company's financial results. Wolfspeed excludes the following items from one or more of its non-GAAP measures when applicable: Stock-based compensation expense. This expense consists of expenses for stock options, restricted stock, performance stock awards and employee stock purchases through its Employee Stock Purchase Program. Wolfspeed excludes stock-based compensation expenses from its non-GAAP measures because they are non-cash expenses that Wolfspeed does not use to evaluate core operating performance. Restructuring and facility closure costs. During the first quarter of fiscal 2025, the Company began a headcount reduction and facility consolidation plan (the "2025 Restructuring Plan") to incur costs to optimize its operating model and accelerate its transition to 200 mm silicon carbide offerings through facility closures and headcount reduction initiatives. Wolfspeed does not include these expenses when evaluating core operating activities for strategic decision making, forecasting future results and evaluating current performance, as these activities may be non-recurring, unusual, infrequent or directly related to an event that is distinct and non-reflective of the Company's ongoing business operations. Restructuring and facility closure costs associated with the 2025 Restructuring Plan primarily consist of severance, asset-related charges and other closure-related costs related to facilities in the process of closing or are already closed. Other closure-related costs primarily consist of contract termination costs, manufacturing transition charges and certain inventory abandonments that are directly attributable to a facility closure. Contract termination costs are directly attributable to facility closures and other restructuring-related activities. Manufacturing transition charges include non-productive manufacturing expenses incurred during the period from when shutdown activities commence to when a facility is closed. Inventory abandonments relate to identification and disposal of inventory that will not be utilized after a product line is transferred to a new manufacturing location. Loss on disposition of assets results from abandonment of non-productive assets in accordance with a restructuring plan. During the second and fourth quarters of fiscal 2026, the Company implemented additional headcount reductions. The costs related to these initiatives, primarily severance, were recorded in the second and fourth quarters of fiscal 2026, as applicable. Amortization of acquisition-related intangibles. Wolfspeed incurred amortization of acquisition-related intangibles in connection with acquisitions. Wolfspeed excludes these items because they are non-cash expenses that Wolfspeed does not use to evaluate core operating performance. These costs are recorded within "Restructuring and other expenses". Amortization related to intangibles recognized upon the adoption of fresh start accounting are not excluded from non-GAAP measures other than EBITDA. Goodwill impairment. Wolfspeed determined that goodwill for its single reporting unit was fully impaired, resulting in a $359.2 million impairment charge during fiscal 2025. Wolfspeed excluded this amount as Wolfspeed does not believe it is reflective of the Company's ongoing operating results. Gain/loss on disposal of property and equipment. Wolfspeed sold idle equipment and a building, which included the building improvements and land during fiscal 2026. Wolfspeed sold two properties including buildings, building improvements and land during fiscal 2025. Wolfspeed does not believe these gains and losses are reflective of ongoing operating results. Write-off of deferred financing costs. Wolfspeed wrote off the deferred financing costs for its then outstanding debt in the fourth quarter of fiscal 2025. This is due to the restructuring support agreement and the voluntarily filed prepackaged bankruptcy petitions (the "Chapter 11 Cases") on June 30, 2025. Wolfspeed does not believe this is reflective of its ongoing operating results. Pre-petition charges. Wolfspeed recognized Pre-petition charges that consist primarily of professional fees directly related to, but incurred prior to, the filing of the Chapter 11 Cases. Wolfspeed does not believe this is reflective of its ongoing operating results. Project, transformation and transaction costs. The Company has incurred professional services fees and other costs associated with completed and potential acquisitions and divestitures, transformation programs focused on optimizing the Company's administrative processes, and certain costs associated with the Chapter 11 Cases that are not accounted for as Reorganization items, net in accordance with ASC 852. These costs are recorded within "Restructuring and other expenses". Wolfspeed excludes these items because Wolfspeed believes they are not reflective of the ongoing operating results of Wolfspeed's business. Amortization of premiums, discount and debt issuance costs. net Interest expense for certain of the Company's outstanding debt obligations includes amortization of premiums/discount and debt issuance costs. Wolfspeed excludes amortization of premium/discount and debt issuance costs from its non-GAAP measures because they are non-cash expenses that Wolfspeed does not use to evaluate core operating performance. Gain/Loss on equity investment. The Company received shares of MACOM common stock in connection with the divestiture of the RF product line. These shares were accounted for utilizing the fair value option and changes in the fair value of the shares are recognized in income. The Company disposed of the MACOM shares in September 2025. Wolfspeed excluded the impact of these gains or losses from its non-GAAP measures because Wolfspeed believes it is not reflective of the ongoing operating results of Wolfspeed's business. Proceeds from settlement reimbursement and miscellaneous items. During the fourth quarter of fiscal 2026, the Company settled a dispute with a customer for damaged tools that were disposed in a prior year and recorded proceeds for the sale of miscellaneous parts. Wolfspeed believes the proceeds are not reflective of the ongoing operating results of Wolfspeed's business. Income tax adjustment. This amount reconciles GAAP tax expense (benefit) to a calculated non-GAAP tax expense (benefit) utilizing a non-GAAP tax rate. The non-GAAP tax rate estimates an appropriate tax rate if the listed non-GAAP adjustments were excluded. The non-GAAP tax rate estimate applied to the non-GAAP adjustments includes application of a zero-tax rate where a valuation allowance exists on a non-GAAP basis. This reconciling item adjusts non-GAAP net (loss) income to the amount it would be if the calculated non-GAAP tax rate was applied to non-GAAP (loss) income before income taxes. Wolfspeed may incur some of these same expenses, including income taxes associated with these expenses, in future periods. In addition to the non-GAAP measures discussed above, Wolfspeed also uses free cash flow as a measure of operating performance and liquidity. Free cash flow represents operating cash flows from continuing operations, less net purchases of property and equipment and patent and licensing rights. Wolfspeed considers free cash flow to be an operating performance and a liquidity measure that provides useful information to management and investors about the amount of cash generated by the business after the purchases of property and equipment, a portion of which can then be used to, among other things, invest in Wolfspeed's business, make strategic acquisitions and strengthen the balance sheet. A limitation of the utility of free cash flow as a measure of operating performance and liquidity is that it does not represent the residual cash flow available to the company for discretionary expenditures, as it excludes certain mandatory expenditures such as debt service. View source version on businesswire.com: https://www.businesswire.com/news/home/20260819859398/en/ Contacts Dan WhalenWolfspeed, Inc.Vice President, Investor [email protected]

Wolfspeed reported an adjusted loss of $2.26 per share, wider than the $1.47 loss analysts expected. Quarterly revenue fell 24% year-over-year to $149.6 million, narrowly missing Wall Street’s $150 million estimate. Stocktwits retail sentiment improved to ‘bullish,’ though traders remain divided over the company’s negative margins, cash burn and around $1.69 billion in debt and convertible obligations. Shares of Wolfspeed Inc. (WOLF) fell around 11% in after-hours trading on Wednesday after the company reported earnings and revenue misses in its fiscal fourth-quarter results. Revenue of the silicon carbide wafers and power chips maker fell 24.06% year-over-year, while the company said AI data-center sales increased 20% in the fourth quarter from the prior quarter and doubled for the full fiscal year. The company reported an adjusted loss of $2.26 per share, compared with a consensus estimate of a $1.47-per-share loss, according to Fiscal.ai. Revenue stood at $149.6 million, slightly below Wall Street’s $150-million estimate. See what 10M+ investors are talking about. Get the Stocktwits Daily Rip for what retail is watching right now, free to your inbox “We continued to expand our device business, highlighted by strong growth in AI data center applications and the launch of our fifth-generation SiC MOSFET. These achievements strengthen our technology leadership and confidence in our long-term growth opportunities,” Wolfspeed CEO Robert Feurle said. “We are aggressively targeting initiatives to further reduce our debt and cost of capital as well as enhance our financial positioning,” Wolfspeed CFO Gregor van Issum said. Looking ahead, Wolfspeed projects flat sales of between $140 million and $160 million in the next quarter, with non-GAAP gross margin expected to remain negative. On Stocktwits, retail sentiment for WOLF improved to ‘bullish’ from ‘neutral’ in the past 24 hours, while message volume was ‘high.’ One retail trader remained bearish on Wolfspeed, citing its 24% year-over-year revenue decline, negative gross margins, $145 million quarterly loss, and $54 million operating cash burn. The trader said AI data-center growth and new chip technology do not offset Wolfspeed’s negative margins and around $1.69 billion in debt and convertible obligations. The trader added that a turnaround would need to show positive gross margins, lower cash burn and meaningful debt reduction. Another retail trader called WOLF a “long-term play,” adding that the stock is “very volatile” and that they expect “a deep correction before picking up,” while remaining bullish. WOLF stock has gained nearly 68% year-to-date. Also Read: NUE, STLD, CENX, CLF Stocks Slide — Trump Reportedly Set To Halve Import Tariffs On Canadian Steel And Aluminum For updates and corrections, email newsroom[at]stocktwits[dot]com. Aveek Bhowmik has no position in any of the stocks mentioned in this article. StockTwits' news team content is for informational purposes only and is not intended as investment advice. For more, see our editorial policy. This article was originally published on StockTwits. Related: Moderna Is Now S&P 500’s No. 2 Stock This Year — Wall Street, Jim Cramer And Elon Musk Cheer Cancer Vaccine Breakthrough MSTR Stock Climbs As Bitcoin Surges Past $69K For First Time Since June: Trump Urges Congress To Pass CLARITY Act TGT Stock Heads For Fourth Weekly Gains: Target’s Turnaround Gains Traction, DA Davidson Says ‘Earnings Power’ Can Keep Rising

Interested in Wolfspeed, Inc.? Here are five stocks we like better. Fourth-quarter revenue reached $150 million, at the midpoint of guidance, as data-center demand—particularly from AI applications—offset weaker automotive sales. Power revenue rose 6% sequentially to approximately $106 million, while data-center revenue more than doubled year over year. Wolfspeed is expanding its AI data-center opportunity through new design wins, 800-volt architecture applications and a dedicated solutions team. The company is also promoting fifth-generation silicon-carbide MOSFETs and high-voltage products for data centers, automotive, industrial, aerospace and defense markets. Profitability remains challenging: adjusted gross margin was negative 19.9%, EBITDA was negative $62 million and operating cash flow was negative $54 million. Wolfspeed forecast fiscal first-quarter revenue of $140 million to $160 million with continued negative gross margins, while prioritizing factory utilization and debt reduction. Power Struggle: Wolfspeed Sues Navitas Over AI Chips Wolfspeed (NYSE:WOLF) reported fourth-quarter fiscal 2026 revenue of $150 million, landing at the midpoint of its guidance range, as growth in artificial intelligence data-center applications helped offset softer automotive demand. Chief Executive Officer Robert Feurle said the company has continued its transformation through a refreshed leadership team, a revised sales strategy, capital-structure actions and an increased focus on customer relationships. He said Wolfspeed remains early in that process but has gained confidence in its path toward profitability. → Looking Beyond CrowdStrike? 3 AI Security Stocks Stand Out Wolfspeed Ditches EV Woes for High-Margin Defense Jets Power revenue was approximately $106 million, up 6% sequentially, while materials revenue totaled about $43 million. Chief Financial Officer Gregor van Issum said AI data-center strength was a key contributor to the power business, with data-center revenue increasing about 20% from the fiscal third quarter and more than doubling from fiscal 2025 to fiscal 2026. Feurle said Wolfspeed has established a dedicated data-center solutions team and added two industry veterans in the San Francisco Bay Area with experience in high-voltage power architecture for AI and data-center applications. → 3 Robotics Stocks Under $10: Value, Momentum, or Bet? Navitas Breaks Out on India Deal, Validating High-Power AI Pivot The company said new design wins are ramping at power-supply companies including Lite-On and Macre, supporting multiple hyperscale customers. Wolfspeed is targeting opportunities tied to both existing and emerging high-voltage direct-current AI architectures. Feurle said the transition to 800-volt architectures is increasing silicon-carbide content across the data-center power ecosystem. The company sees additional opportunities beyond AC-DC power supplies, including battery backup units, supercapacitors, eFuses, high-voltage DC-DC conversion and the secondary side of DC-DC systems. → Michael Burry Is Betting Against Palantir Again—Should Investors Care? During the question-and-answer session, Feurle said Wolfspeed is engaged across device voltage ranges from 750 volts and 1,200 volts to 2.3 kilovolts and 3.3 kilovolts. The company is also working with solid-state transformer manufacturers and hyperscalers on reliability qualifications and deployment. Feurle said Wolfspeed’s completed transition from six-inch to eight-inch, or 200-millimeter, manufacturing is an asset as customers seek capacity for future data-center deployments. The company said its vertically integrated operations include substrates, devices and production capacity at its Mohawk Valley facility in upstate New York. Wolfspeed highlighted its fifth-generation silicon-carbide MOSFET technology, announced in June at the PCIM power technology conference in Europe. Feurle said the Gen 5 products offer what the company described as industry-leading specific on-state resistance while retaining the switching behavior of its fourth-generation MOSFETs. The products are intended for automotive, industrial power supplies, AI data centers, solid-state transformers and renewable-energy conversion applications. Wolfspeed said Gen 5 devices were developed and are running at its 200-millimeter Mohawk Valley manufacturing facility. In automotive, Feurle pointed to the company’s previously announced Toyota partnership for onboard charging systems and said Wolfspeed recently received its first business award from a European Tier 1 supplier supporting an onboard charger for a large German automaker. The company also discussed its 10-kilovolt silicon-carbide MOSFET, which it said was recognized as a top innovation at PCIM. Wolfspeed recently signed a memorandum of understanding with GE Aerospace to accelerate adoption of high-voltage silicon carbide in industrial, aerospace and defense markets. The partnership includes supply of Wolfspeed’s 10-kilovolt MOSFET and co-development of standard high-voltage power-module formats. In its materials business, Wolfspeed said it continues to support 150-millimeter long-term-agreement customers while working with them on their transition to 200-millimeter substrates. The company has begun shipping engineering samples of its 200-millimeter substrates to multiple customers for internal evaluation, though it characterized the opportunity as longer term. Wolfspeed’s adjusted non-GAAP gross margin was negative 19.9% in the fourth quarter, improving 70 basis points sequentially. Van Issum attributed the improvement primarily to product mix, including higher industrial and energy sales in power and higher radio-frequency sales in materials. Underutilization remained the primary factor affecting gross margins, he said. Wolfspeed is focused on increasing factory utilization while producing the same revenue with less capacity consumed. Van Issum said gross-margin break-even could occur at roughly an $800 million annual revenue run rate, though the level could vary based on product mix. Non-GAAP operating expenses totaled $62 million, compared with $61 million in the prior quarter. Adjusted non-GAAP EBITDA was negative $62 million, roughly unchanged sequentially. Gross capital expenditures fell to $5 million from $38 million in the prior quarter. Operating cash flow was negative $54 million and included a $41 million benefit from inventory reductions. Cash and short-term investments totaled approximately $1.1 billion at quarter-end, while net debt was about $600 million. During the quarter, holders of $46 million in second-lien convertible notes voluntarily converted debt to equity, reducing annual interest expense by about $1 million. Van Issum said reducing debt and the company’s cost of capital remains a priority. He added that the highest-priority debt to refinance carries an interest rate of roughly 16%. For the first quarter of fiscal 2027, Wolfspeed expects revenue between $140 million and $160 million and anticipates that non-GAAP gross margin will remain negative. The company expects non-GAAP operating expenses of $62 million to $66 million. Feurle said demand trends in automotive and industrial markets remain difficult to predict, including because some automotive customers are undergoing product-mix changes. However, he said Wolfspeed is seeing broader customer engagement globally and continued traction in industrial and automotive applications. Wolfspeed, Inc (NYSE: WOLF) is a leading developer and manufacturer of silicon carbide (SiC) and gallium nitride (GaN) semiconductor materials and devices. The company's product portfolio addresses high-growth markets such as electric vehicles, renewable energy, fast-charging infrastructure, aerospace and defense, and telecommunications. By leveraging proprietary materials and device designs, Wolfspeed delivers solutions that offer improved energy efficiency, higher power density and greater thermal performance compared to conventional silicon-based semiconductors. Founded as part of Cree, Inc and spun off to form an independent public company in October 2021, Wolfspeed traces its roots to the mid-1980s when it pioneered the commercial use of wide-bandgap semiconductor technology. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Wolfspeed Q4 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for August 2026.