Wolfspeed after Debt Relief: Layoffs and Cost Reduction Can Mitigate Losses, Profitability Still Depends on Growth

Wolfspeed (WOLF.N) released its financial report for the first quarter of fiscal year 2026 (ending September 2025) after the U.S. stock market closed on October 30, 2025, Beijing time. The key points are as follows: 1. Core indicators: Wolfspeed achieved revenue of $197 million in the first quarter of fiscal year 2026 (i.e., Q3 2025), a year-on-year increase of 1.1%, mainly due to the slowdown in demand in the automotive market and high inventory levels among customers in the industrial & energy sectors. The company's gross margin for the quarter was -39.2%, which includes a specific inventory reserve of $29 million...