Wolfspeed announced its third quarter fiscal year 2025 financial results on May 8, 2025, reporting revenue from continuing operations of $185.4 million, a 7.6% decline from the third quarter of fiscal 2024. The company also reported a GAAP net loss of $285.5 million, or $1.86 per diluted share.
The company forecast its 2026 revenue below Wall Street estimates, indicating continued headwinds. Furthermore, departing CFO Neill Reynolds stated in a post-earnings call that Wolfspeed might need to pursue in-court options to renegotiate its debt, and that 'going concern' language could be added to the quarterly filing.
Wolfspeed ended its fiscal Q3 with $6.5 billion of debt obligations, highlighting significant financial challenges. The company is facing sluggish demand in industrial and automotive markets, alongside increased competition from Chinese manufacturers in 150mm SiC wafers.
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