WOLFSPEED, INC. has recently released its 10-Q report, providing a detailed insight into the company's operations and financial performance. WOLFSPEED, INC., formerly known as Cree, Inc., is a semiconductor company that focuses on silicon carbide and gallium nitride (GaN) technologies. The company offers a range of products including silicon carbide and GaN materials, power devices, and modules for various applications such as electric vehicles, server power supplies, and solar inverters. WOLFSPEED, INC. is headquartered in Durham, North Carolina and operates globally, including in Europe, Hong Kong, China, and the rest of Asia Pacific.
In the recent 10-Q report, WOLFSPEED, INC. discussed its management's discussion and analysis of financial condition and results of operations. The report highlighted the company's voluntary filing for relief under Chapter 11 of the United States Bankruptcy Code to implement a prepackaged Chapter 11 plan of reorganization. This move was intended to facilitate a comprehensive balance sheet restructuring pursuant to a Restructuring Support Agreement executed with key stakeholders.
The report also delved into the industry dynamics and trends affecting the company's business. It mentioned factors such as overall demand for products and applications using WOLFSPEED materials and devices, intense and constantly evolving competitive environment, governmental trade and regulatory conditions, and intellectual property issues as significant influences on the company's operations.
Furthermore, the report provided a business outlook, outlining the company's priorities aimed at achieving long-term growth and profitability. These priorities include accelerating the path to profitability, advancing technology leadership, and driving operational excellence.
In terms of financial performance, the report discussed the company's results of operations, highlighting the adoption of fresh start accounting, which resulted in a new basis of accounting. The report compared the consolidated statements of operations for the period from September 30, 2025 to December 28, 2025 (Successor) and the three months ended December 29, 2024 (Predecessor). It detailed the changes in revenue, cost of revenue, gross profit, operating expenses, reorganization items, interest expense, and net income, providing a comprehensive overview of the company's financial performance during the specified periods. The market has reacted to these announcements by moving the company's shares 2.16% to a price of $20.35. For more information, read the company's full 10-Q submission here.
