Wolfspeed's fourth quarter revenue met estimates as non-GAAP loss of $2.26 beat expectations

Wolfspeed reported fourth quarter 2026 revenue of $149.6 million, aligning with the midpoint of its guidance range. The results were supported by significant growth in AI data center applications, which saw revenue more than double year-over-year in fiscal 2026. Despite meeting top-line expectations and beating on non-GAAP EPS, the company continues to operate with negative gross margins as it manages its strategic transition to 200mm silicon carbide production.

Key Highlights

• AI data center revenue increased approximately 20% sequentially in the fourth quarter, representing a key growth vertical amid broader automotive sector softness.
• Gross margins remain heavily pressured during the facility transition, with GAAP gross margin at (25)% and non-GAAP gross margin at (20)%.
• The company maintained a robust liquidity profile with $1.1 billion in cash, equivalents, and short-term investments as of June 28, 2026.
• Guidance for the first quarter of fiscal 2027 projects revenue between $140 million and $160 million, with non-GAAP gross margins expected to remain negative.