Brian Lee

Colin Rusch

George Gianarikas

Harsh Kumar

Jonathan Dorsheimer

Joseph Cardoso

Joshua Buchalter

Samik Chatterjee

Christopher Rolland

Craig Irwin

Jack Egan

Jed Dorsheimer

Joseph Moore

Lanny

- Wolfspeed completed its **financial restructuring** in Q1 2026, emerging with an improved balance sheet and a simplified operating model, with a clear priority to accelerate its path to profitability.  **[0000895419_2213020_1]** **[0000895419_2213020_4]** 
- For Q1 2026, **revenue was €197 million** and the **non-GAAP net loss was $0.55 per share**.  **[0000895419_2213020_5]**  The company ended the quarter with **€926 million in cash and short-term investments**.  **[0000895419_2213020_4]** 
- Wolfspeed expects **Q2 2026 revenue to be in the range of $150 million to $190 million**, attributing the sequential decline to accelerated customer purchases in Q1 and customer second-sourcing during the bankruptcy process.  **[0000895419_2213020_5]**  The company anticipates **market weakness may continue through the remainder of fiscal 2026**.  **[0000895419_2213020_4]** 
- The company will adopt **fresh start accounting** in Q2 2026, which will result in a new basis of accounting and a reset of financial statements, making prior period comparisons non-comparable.  **[0000895419_2213020_4]** **[0000895419_2213020_6]**

Wolfspeed reports Q1 2026 results and completes financial restructuring

- Wolfspeed reported **consolidated revenue of approximately $197 million** for the first quarter of fiscal 2026, a slight increase from $195 million in the first quarter of fiscal 2025, while GAAP gross margin was **(39)%** compared to (19)% in the prior year quarter.  **[895419_0000895419-25-000124_ex991q1-26.htm:0]** 
- The company's GAAP loss per share was **$(4.12)**, which included **$504 million** of Reorganization Items related to its Chapter 11 cases.  **[895419_0000895419-25-000124_ex991q1-26.htm:0]** 
- Wolfspeed emerged from Chapter 11 on **September 29, 2025**, and ended the quarter with **$926 million** in cash, cash equivalents, and short-term investments.  **[895419_0000895419-25-000124_ex991q1-26.htm:1]** **[895419_0000895419-25-000124_ex991q1-26.htm:0]** 
- For the fiscal second quarter, Wolfspeed expects a sequential decline in revenue, projecting between **$150 million and $190 million**, primarily due to accelerated customer purchases in Q1 and anticipated ongoing market softness through fiscal 2026.  **[895419_0000895419-25-000124_ex991q1-26.htm:0]**

Wolfspeed Reports Q1 Fiscal 2026 Results and Provides Business Outlook

- Wolfspeed, Inc. successfully completed its financial restructuring process and emerged from Chapter 11 protection on **September 29, 2025**.  **[895419_0001193125-25-224251_d22768dex991.htm:0]** **[895419_0001193125-25-224251_d22768d8k.htm:0]** 
- As a result of the restructuring, the company reduced its total debt by approximately **70%**, extended maturities to **2030**, and lowered its annual cash interest expense by roughly **60%**.  **[895419_0001193125-25-224251_d22768dex991.htm:0]** 
- Wolfspeed now maintains ample liquidity and plans for self-funded growth by leveraging its vertically-integrated 200mm manufacturing footprint.  **[895419_0001193125-25-224251_d22768dex991.htm:0]** 
- In connection with its emergence, Wolfspeed announced **five new director appointments**.  **[895419_0001193125-25-224251_d22768dex991.htm:0]** 
- The company also established the **2025 Management Incentive Compensation Plan** to attract and retain employees, provide incentives, and align interests with shareholders.  **[895419_0001193125-25-224251_d22768dex105.htm:0]**

Wolfspeed Completes Financial Restructuring and Emerges from Chapter 11

- Wolfspeed, Inc. filed for Chapter 11 bankruptcy on **June 30, 2025**, and its prepackaged reorganization plan was confirmed by the Court on **September 8, 2025**.  **[895419_0001193125-25-223057_d69265d8k.htm:0]** 
- On **September 29, 2025**, all previously issued and outstanding shares of Wolfspeed's common stock were **cancelled** in accordance with the plan.  **[895419_0001193125-25-223057_d69265d8k.htm:1]** 
- Existing common stockholders received a pro rata share of **1,306,903 new shares** of Wolfspeed common stock, at an exchange ratio of **0.008352**.  **[895419_0001193125-25-223057_d69265d8k.htm:1]** 
- An additional **871,287 shares** may be distributed to existing common stockholders if certain regulatory milestones are achieved, potentially increasing the total to **2,178,190 shares** at a consolidated exchange ratio of **0.013920**.  **[895419_0001193125-25-223057_d69265d8k.htm:1]**

Wolfspeed Confirms Reorganization Plan and Cancels Common Stock

- Wolfspeed, Inc. and its wholly owned subsidiary filed voluntary petitions for **Chapter 11 bankruptcy** on **June 30, 2025**.  **[895419_0001193125-25-215405_d928290d8k.htm:0]** 
- The Court confirmed the joint prepackaged Chapter 11 plan of reorganization on **September 8, 2025**.  **[895419_0001193125-25-215405_d928290d8k.htm:0]** 
- Wolfspeed plans to effect a **corporate conversion** from a North Carolina to a Delaware corporation, expected to be effective on or about **September 29, 2025**.  **[895419_0001193125-25-215405_d928290d8k.htm:1]** 
- The company cautions that trading in its securities during the Chapter 11 Cases is **highly speculative** and poses substantial risks, with equity holders potentially experiencing a **significant loss** on their investment.  **[895419_0001193125-25-215405_d928290d8k.htm:1]**

Wolfspeed Provides Update on Chapter 11 Proceedings and Corporate Conversion

- **Wolfspeed, Inc.** has commercially launched its **200mm silicon carbide (SiC) materials portfolio**, marking a significant advancement in power electronics manufacturing.  **[895419_0a69b6a2ba524f5f97895e1605b0f5a4]** 
- This launch represents a substantial scale increase from 150mm wafers, delivering **approximately 1.78 times more surface area** and enabling **up to 54% cost reductions** for key components by 2030.  **[895419_0a69b6a2ba524f5f97895e1605b0f5a4]** 
- The 200mm wafers feature improved parametric specifications, allowing device manufacturers to achieve **higher MOSFET yields** and reduce time-to-market.  **[895419_0a69b6a2ba524f5f97895e1605b0f5a4]** 
- This innovation underscores Wolfspeed's commitment to driving the industry's transition to silicon carbide technology, despite emerging from **Chapter 11 bankruptcy restructuring** just days prior.  **[895419_0a69b6a2ba524f5f97895e1605b0f5a4]** 
- The launch resulted in volatile market reactions, with shares initially rising **5%** post-announcement before plunging **19%** during regular market hours.  **[895419_0a69b6a2ba524f5f97895e1605b0f5a4]**

Wolfspeed Launches Commercial 200mm Silicon Carbide Wafers

- Wolfspeed reported Q4 2025 consolidated revenue of approximately **$197 million** and a GAAP loss per share of **($4.30)**, compared to $201 million and ($1.39) respectively in Q4 2024.  **[895419_0000895419-25-000107_ex991q4-25.htm:0]**  For the full fiscal year 2025, consolidated revenue was approximately **$758 million** and GAAP loss per share was **($11.39)**.  **[895419_0000895419-25-000107_ex991q4-25.htm:0]** 
- The company's gross margin was significantly impacted by underutilization costs, primarily from the Mohawk Valley Fab, which amounted to **$23.6 million** in Q4 2025 and **$105.2 million** for the full fiscal year 2025.  **[895419_0000895419-25-000107_ex991q4-25.htm:0]** 
- Wolfspeed incurred a **$359.2 million** goodwill impairment charge in Q4 and full fiscal year 2025.  **[895419_0000895419-25-000107_ex991q4-25.htm:5]** **[895419_0000895419-25-000107_ex991q4-25.htm:9]** 
- The company is preparing for court approval of its Plan of Reorganization next month, aiming to emerge from Chapter 11 shortly thereafter with a stronger financial structure.  **[895419_0000895419-25-000107_ex991q4-25.htm:0]**  As of June 29, 2025, total current liabilities significantly increased to **$7,090.0 million**, primarily due to **$6,538.0 million** in current maturity on long-term borrowings.  **[895419_0000895419-25-000107_ex991q4-25.htm:6]**  Trading in the common stock during this period is considered **highly speculative** and poses substantial risks.  **[895419_0000895419-25-000107_ex991q4-25.htm:5]**

WOLFSPEED (WOLF)