WOLF

EX-99.1

2 ex991q1-27.htm

EX-99.1

Document

Exhibit 99.1

Wolfspeed Reports Financial Results for the First Quarter of Fiscal 2027

DURHAM, N.C. November 4, 2026 -- Wolfspeed, Inc. (NYSE: WOLF) today announced its results for the first quarter of fiscal 2027.

Recent Business Highlights

•Announced conditional 30-year, $1.5 billion loan commitment from U.S. Department of War to advance domestic wide bandgap supply chain.

•Expanded and extended existing 150mm long-term supply silicon carbide wafer supply agreement with Infineon Technologies AG to include 200mm.

•Announced a multiyear supply agreement for our silicon carbide devices to support BorgWarner's next-generation 800V silicon carbide-based inverter platform.

•Awarded the Strategic Partner Award from Megmeet, an emerging customer in the AI data center market.

•Commercially introduced our proprietary silicon carbide (TSiCTM) technology expanding the potential of silicon carbide to enable next-generation augmented reality ("AR"), quantum computing and advanced optical applications.

Quarterly Financial Highlights

•Consolidated revenue of approximately $155 million, higher than the midpoint of guidance range.

•GAAP gross margin of (22)% and Non-GAAP gross margin of (13)%.

•GAAP net loss of ($144) million and adjusted EBITDA (non-GAAP) of ($55) million.

•Operating cash flow of ($84) million.

•$1 billion of cash, cash equivalents and short-term investments as of September 27, 2026.

"We continued to build momentum across Wolfspeed and are advancing every pillar of our strategy. The conditional $1.5 billion commitment from the U.S. Department of War, coupled with the multiple long-term supply agreements we announced support our commitment to returning Wolfspeed to a path of long-term, sustainable growth." said Wolfspeed CEO Robert Feurle.

"Our revenue results of $155 million were above the midpoint of guidance, and adjusted non-GAAP gross margin improved 710 basis points sequentially, on a slightly higher revenue base. Also, upon completion, the conditional loan commitment is expected to deliver significant annual interest savings, reinforcing our conviction that fiscal 2027 marks a turning point." said Wolfspeed CFO Gregor van Issum.

Business Outlook:

The Company targets to generate revenue between $155 million and $175 million for its second quarter of fiscal 2027 with sequential non-GAAP gross margin improvement approaching breakeven. The Company targets non-GAAP operating expenses between $65 million and $69 million for its second 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 first 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.

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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 n

EX-99.1

2 ex991q4-26.htm

EX-99.1

Document

Exhibit 99.1

Wolfspeed Reports Financial Results for the Fourth Quarter of Fiscal 2026

DURHAM, N.C. August 19, 2026 -- 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.

1

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 prepare

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