WOLF · Q1 rev $155M, guide $155-175M

Wolfspeed reported Q1 fiscal 2027 revenue of $155.0M, above the $150.0M consensus, but GAAP net loss widened to $143.8M ($2.61 per share) from $119.9M in the prior quarter. Non-GAAP gross margin improved to (13)% from (21)% sequentially. The company guided Q2 revenue of $155M-$175M with non-GAAP gross margin approaching breakeven, and highlighted a conditional $1.5B loan commitment from the U.S. Department of War.

• Revenue $155.0M vs consensus $150.0M, above midpoint of guidance range
• GAAP net loss $143.8M ($2.61 per share) vs prior quarter loss $119.9M ($3.05)
• Non-GAAP gross margin improved to (13)% from (21)% sequentially
• Adjusted EBITDA loss of $54.7M vs $54.7M in prior quarter