Wolfspeed, Inc. announced its results for the fourth quarter of fiscal 2025 and the full fiscal year.
Fourth Quarter Fiscal 2025 Highlights (Continuing Operations)
- Revenue of $197 million, compared to $201 million in Q4 FY2024. Mohawk Valley Fab contributed $94.1 million, more than doubling from $41 million a year ago.
- GAAP gross margin of (13)%, compared to 1% in the prior year.
- Non-GAAP gross margin of (1)%, compared to 5% in Q4 FY2024.
- GAAP loss per share of ($4.30), compared to ($1.39) in the prior year.
- Non-GAAP loss per share of ($0.77), an improvement from ($0.89) in Q4 FY2024.
Full Fiscal Year 2025 Highlights (Continuing Operations)
- Revenue of $758 million, compared to $807 million in FY2024.
- GAAP gross margin of (16)%, down from 10% in FY2024.
- Non-GAAP gross margin of 2%, compared to 13% in the prior year.
- GAAP loss per share of ($11.39), compared to ($4.56) in FY2024.
- Non-GAAP loss per share of ($3.32), compared to ($2.59) in the prior year.
Business Segment Results
- Power Products revenue: $118.6 million in Q4 and $414.0 million for FY2025.
- Materials Products revenue: $78.4 million in Q4 and $343.6 million for FY2025.
“Reflecting on my first three months with Wolfspeed, I am more confident than ever in our decision to pursue silicon carbide leadership,” said Robert Feurle, Wolfspeed’s Chief Executive Officer. “With our world-class, vertically integrated facilities, an expanded leadership team, and strong IP portfolio, Wolfspeed is well-positioned to be the global leader in SiC technology. Our next milestone is court approval of our Plan of Reorganization next month, which will allow us to emerge from Chapter 11 with a stronger financial structure.”
Original – Wolfspeed