From Nasdaq: 2024-11-07 11:37:00

Wolfspeed reported a first-quarter fiscal 2025 non-GAAP loss of 91 cents per share, missing estimates. Revenues of $194.7 million decreased 1.4% year over year. Power Products accounted for 49.9% of revenues, while Materials Products contributed 50.1%. Power device design-ins were $1.5 billion in the quarter.

In the fiscal first quarter, Wolfspeed reported a non-GAAP gross margin of 3.4%, down from the year-ago quarter. Operating loss widened to $113 million. Cash, cash equivalents, and short-term investments decreased to $1.68 billion. Long-term debt was $3.14 billion.

Wolfspeed initiated weak guidance for the second quarter of fiscal 2025. Revenues are expected to range from $160-$200 million, with an expected non-GAAP loss per share between $1.14 and $0.89. The company targets a non-GAAP gross margin of -6% to +6%. Shares have fallen 68.5% year to date.

Leaders from the US and 21 other countries committed to tripling the world’s nuclear energy capacities. Nuclear energy stocks may see significant profits. A report, “Atomic Opportunity: Nuclear Energy’s Comeback,” explores key players and technologies. Wolfspeed, Shopify, Bilibili, and NVIDIA are recommended stocks in the sector.



Read more at Nasdaq: Wolfspeed Misses Q1 Estimates: Will Weak Q2 Outlook Drag Shares Down?