Wolfspeed (WOLF) Q4 2026 earnings summary

Executive summary

• Q4 FY26 revenue reached $150 million, aligning with guidance midpoint and driven by strong AI data center growth, which more than doubled year-over-year and rose about 20% sequentially.

• Leadership was strengthened with the appointment of Andy Mattes to the Board and a focus on operational excellence and customer-centric strategies.

• Significant progress in technology innovation included the launch of Gen 5 SiC MOSFET, 10kV MOSFET readiness, and shipment of 300mm substrate engineering samples.

• Deepened automotive partnerships, including new design wins with a German OEM, a leading European tier 1 supplier, and Toyota.

• Launched a dedicated data center solutions team and expanded collaborations with GE Aerospace and LITEON Technology.

Financial highlights

• Q4 consolidated revenue was $150 million; Power revenue was $106.3 million, Materials revenue was $43.3 million.

• Adjusted non-GAAP gross margin was -19.9% to -20%, a sequential improvement; GAAP gross margin was (25)%.

• Adjusted non-GAAP EBITDA was negative $62.4 million, similar to the prior quarter.

• Operating cash flow for Q4 was negative $54 million; cash, cash equivalents, and short-term investments totaled $1.1 billion at quarter-end.

• Net debt was approximately $600 million, with significant liability reduction and no maturities until 2030.

Outlook and guidance

• Q1 FY27 revenue guidance is $140–$160 million.

• Non-GAAP gross margin expected to remain negative; non-GAAP operating expenses projected at $62–$66 million.

• Growth anticipated in device business, with continued focus on operational efficiency and margin improvement.