| Metric | Value ($ M) | Q2 FY26 | Q3 FY25 |
|---|---|---|---|
| Revenue | 150.20 | 10.9% | 19.0% |
| Total Income | 150.20 | 10.9% | 19.0% |
| Expenditure | 264.50 | 19.1% | 30.4% |
| PBT | -120.20 | 19.5% | 57.9% |
| Net Profit | -119.90 | 20.4% | 58.0% |
| OPM | -76.10% | 17.91pp | |
| NPM | -79.83% | 9.55pp | |
| EPS | -3.05 | 47.2% | 64.0% |
Wolfspeed Reports Q3 FY26 Revenue of $150 Million
06 May 2026 · 6 May, 1:54 am
Summary
Wolfspeed reported its financial results for the third quarter of fiscal 2026, with revenue of approximately $150 million. The company's GAAP net loss was $120 million, and adjusted EBITDA was ($62) million. Wolfspeed refinanced approximately $476 million of first-lien debt, reducing total debt and annual interest expense. The company expects revenue between $140 million and $160 million for its fiscal fourth quarter, with operating expenses approximately flat and gross margins remaining negative.
Key Highlights
- 1
Wolfspeed's consolidated revenue was approximately $150 million, aligning with the midpoint of the guidance range for Q3 FY26.
- 2
The company reported a GAAP gross margin of (27)% and a Non-GAAP gross margin of (21)% for the third quarter of fiscal 2026.
- 3
GAAP net loss for Q3 FY26 was $120 million, with an adjusted EBITDA of ($62) million.
- 4
Wolfspeed refinanced approximately $476 million of first-lien debt, reducing the total debt balance by $97 million and annual interest expense by an estimated $62 million.
- 5
The company improved its equity position by more than $400 million, primarily from the strategic refinancing and reclassification of Renesas ownership upon CFIUS clearance.
- 6
Wolfspeed had $1.2 billion of cash, cash equivalents, and short-term investments as of March 29, 2026.
- 7
AI data center applications continued sequential quarterly growth of approximately 30%.
Management Comments
Robert Feurle
“In the third quarter, we continued to make meaningful progress against our priorities, improving Wolfspeed’s long-term growth trajectory and our financial flexibility to execute our strategic priorities." “We accelerated innovation across the business, launching our next-generation TOLT portfolio, introducing the first commercially available 10 kV silicon carbide power MOSFET, and continuing to advance our 300mm substrate platform. At the same time, we continue to deepen our engagement with a diversified customer base."
Gregor van Issum
“Our third-quarter actions represent another major step in strengthening our balance sheet,” “We successfully reduced our highest-cost first-lien debt by 43%, decreased the total debt by $97 million and thereby reduced the annual interest expense by an estimated $62 million. Backed by $1.2 billion in liquidity and rigorous operational discipline, we are well-positioned to continue to fund our highest-priority initiatives."
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