Wolfspeed announced its second quarter fiscal year 2025 financial results on January 29, 2025, reporting revenue from continuing operations of $180.5 million. This figure surpassed Wall Street estimates of $179.4 million.
The company reported a GAAP net loss of $372.2 million, or $2.88 per diluted share, which was smaller than the average analyst estimate of a $1.01 loss per share. Non-GAAP net loss was 95 cents per share, also beating expectations.
Wolfspeed reaffirmed its confidence in accessing over $2.5 billion of liquidity through CHIPS Act funding, lenders, and 48D tax credits. The company also confirmed that its $200 million at-the-market equity offering satisfied the non-debt funding requirement for the first CHIPS Act disbursement, and Mohawk Valley Fab revenue increased to $52 million in Q2 FY25.
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