NASDAQ$WOLF
Wolfspeed Inc · Q4 2022 earnings
Q4 2022 earnings · · Investor relations
Briefing
Wolfspeed reported a strong Q4 2022 with significant revenue growth and design-in achievements.
Wolfspeed reported a strong fourth quarter with revenue of $228.5 million, a GAAP gross margin of 34.5%, and record design-ins of $2.6 billion. The company is optimistic about future growth, expecting revenue to be 30-40% higher than previously forecasted.
- Revenue reached $228.5 million, compared to $145.8 million in the prior year.
- GAAP gross margin was 34.5%, up from 30.0% in the prior year.
- Design-ins for the quarter totaled a record $2.6 billion.
- The company opened the world's first fully automated 200mm Silicon Carbide fab at Mohawk Valley.
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 first quarter of fiscal 2023, Wolfspeed targets revenue in a range of $232.5 million to $247.5 million. GAAP net loss is targeted at $14 million to $21 million, or $0.11 to $0.17 per diluted share. Non-GAAP net loss is targeted to be in a range of $3 million to $10 million, or $0.02 to $0.08 per diluted share.
Tailwinds
- Revenue target between $232.5 million and $247.5 million.
- Stock-based compensation expense of $19 million.
- Amortization or impairment of acquisition-related intangibles of $3 million.
- Amortization of debt issuance costs, net of capitalized interest of $1 million.
- Project, transformation and transaction costs of $1 million.
Headwinds
- GAAP net loss targeted at $14 million to $21 million.
- Non-GAAP net loss targeted between $3 million and $10 million.
- Factory start-up costs of $35 million.
- Gain on arbitration proceedings of $49 million.
- Income tax adjustment of $1 million.
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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