Description
Wolfspeed’s 10-Kilovolt MOSFET Launch Signals A Higher-Voltage Growth Push!
Wolfspeed, Inc. reported third quarter fiscal year 2026 revenue of $150 million, aligning with guidance, with power device revenue contributing approximately $100 million and materials revenue around $50 million. The majority of power device revenue originated from the 200-millimeter fab at Mohawk Valley, with residual sales from discontinued 150-millimeter inventory. Gross margin remained negative at 20.6%, showing a double-digit percentage point improvement quarter-over-quarter, partly due to a better product mix and inventory accounting adjustments. Underutilization costs on the manufacturing footprint continued to weigh on gross margins, amounting to approximately $46 million, highlighting the importance of improving factory utilization in future profitability. Operating expenses were maintained at $61 million, reflecting completion of headcount reductions, while adjusted EBITDA was negative $62 million. Operating cash flow was negative $84 million, influenced by operational improvements but still reflecting ongoing working capital needs.
