NASDAQ$WOLF
Wolfspeed Inc · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
Wolfspeed's Q3 2023 financial performance, showing revenue growth but increased net losses.
Wolfspeed reported a 22% year-over-year increase in revenue to $228.7 million for Q3 2023. However, the company experienced a GAAP net loss of $99.5 million, or $0.80 per diluted share, compared to a net loss of $66.5 million, or $0.54 per diluted share, in the prior year. The company shipped its first product from its Mohawk Valley fab during the quarter.
- Revenue reached $228.7 million, a 22% increase compared to the previous year.
- GAAP net loss was $99.5 million, or $0.80 per diluted share, up from $66.5 million, or $0.54 per diluted share, year-over-year.
- Non-GAAP net loss was $16.0 million, or $0.13 per diluted share, compared to $14.3 million, or $0.12 per diluted share, in the prior year.
- Design-ins totaled $1.7 billion for the quarter.
Headline financials
Revenue & EPS history
Wolfspeed · Revenue · Quarterly
$229M
Revenue by segment
Wolfspeed · $197M total across 2 segments · Q1 2024
- Power Products$101M—51.3%
- Materials Products$96.2M—48.7%
Forward guidance
For the fourth quarter of fiscal 2023, Wolfspeed targets revenue in a range of $212 million to $232 million. GAAP net loss is targeted at $98 million to $108 million, or $0.79 to $0.87 per diluted share. Non-GAAP net loss is targeted to be in a range of $21 million to $29 million, or $0.17 to $0.23 per diluted share.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 2 quarterly earnings reports
-2.8%
Avg return
Earnings day
+2.7%
Avg return
5 days after
+21.6%
Avg return
30 days after
41%
28 / 68 earnings
Positive
+29.7%
Q1 2022
Best reaction
-35.3%
Q1 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q3 2026 | +3.2% | +38.6% | — | |
| Q2 2026 | -9.7% | -8.1% | -3.7% | |
| Q1 2026 | -7.9% | -14.1% | +9.0% | |
| Q4 2025 | +0.0% | -5.8% | +59.4% | |
| Q3 2025 | -26.2% | — | — | |
| Q2 2025 | +1.5% | — | — | |
| Q1 2025 | -35.3% | — | — | |
| Q4 2024 | -2.6% | — | — | |
| Q3 2024 | -12.8% | — | — | |
| Q2 2024 | -17.2% | — | — | |
| Q1 2024 | +17.9% | — | — | |
| Q4 2023 | -19.0% | — | — | |
| Q3 2023 | -18.3% | — | — | |
| Q2 2023 | -5.5% | — | — | |
| Q1 2023 | -17.2% | — | — | |
| Q4 2022 | +27.5% | — | — | |
| Q3 2022 | -9.6% | — | — | |
| Q2 2022 | +0.6% | — | — | |
| Q1 2022 | +29.7% | — | — | |
| Q4 2021 | -10.4% | — | — | |
| Q3 2021 | -15.5% | — | — | |
| Q2 2021 | -1.8% | — | — | |
| Q1 2021 | -7.0% | — | — | |
| Q4 2020 | -12.5% | — | — | |
| Q3 2020 | +4.1% | — | — | |
| Q2 2020 | -10.5% | — | — | |
| Q1 2020 | -1.2% | — | — | |
| Q4 2019 | -15.9% | — | — | |
| Q3 2019 | +0.2% | — | — | |
| Q2 2019 | +5.0% | — | — | |
| Q1 2019 | +12.7% | — | — | |
| Q4 2018 | -8.0% | — | — | |
| Q3 2018 | -2.8% | — | — | |
| Q2 2018 | -1.9% | — | — | |
| Q1 2018 | +16.7% | — | — | |
| Q4 2017 | -1.6% | — | — | |
| Q3 2017 | -10.8% | — | — | |
| Q2 2017 | +4.9% | — | — | |
| Q1 2017 | -9.6% | — | — | |
| Q4 2016 | -16.6% | — | — | |
| Q3 2016 | +7.5% | — | — | |
| Q2 2016 | +9.0% | — | — | |
| Q1 2016 | -6.0% | — | — | |
| Q4 2015 | +2.9% | — | — | |
| Q3 2015 | -7.8% | — | — | |
| Q2 2015 | +9.6% | — | — | |
| Q1 2015 | -17.1% | — | — | |
| Q4 2014 | -9.8% | — | — | |
| Q3 2014 | -11.3% | — | — | |
| Q2 2014 | +7.7% | — | — | |
| Q1 2014 | -15.8% | — | — | |
| Q4 2013 | -21.3% | — | — | |
| Q3 2013 | +1.7% | — | — | |
| Q2 2013 | +21.0% | — | — | |
| Q1 2013 | +13.6% | — | — | |
| Q4 2012 | +5.3% | — | — | |
| Q3 2012 | +3.1% | — | — | |
| Q2 2012 | +2.3% | — | — | |
| Q1 2012 | -0.4% | — | — | |
| Q4 2009 | -4.7% | — | — | |
| Q4 2011 | -4.7% | — | — | |
| Q3 2011 | +0.5% | — | — | |
| Q3 2010 | +0.5% | — | — | |
| Q2 2011 | -3.1% | — | — | |
| Q2 2010 | -3.1% | — | — | |
| Q4 2010 | +4.8% | — | — | |
| Q1 2010 | +4.8% | — | — | |
| Q1 2011 | +4.8% | — | — |
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