Demo
WOLF NYSE· Wolfspeed Inc
FundamentalsNews digest Peer analysis
Login
WOLF NYSE· Wolfspeed Inc
Earnings report Q4 2023

Wolfspeed Inc. Sees Revenue Growth Amidst Operating Losses

Segments of revenue

Wolfspeed Inc. reported a net revenue of $208.4 million for the latest quarter, showing an increase from the $173.8 million reported in the same period the previous year.

Strengths

The company's strength lies in its ability to increase its revenue despite the challenging business environment. The revenue growth, which represents a 20% increase year over year, indicates a strong demand for the company's products and services.

Challenges

Despite the increase in revenue, Wolfspeed Inc. is facing significant challenges. The company reported a gross profit of $27.8 million, a significant decrease from the $56.7 million reported in the same period the previous year. The company also reported an operating loss of $98.1 million, which is higher than the $73 million loss reported in the same period the previous year.

Noteworthy

It's worth noting that the company's cost of revenue has significantly increased, from $117.1 million to $180.6 million. This increase in costs has contributed to the decrease in gross profit and the increase in operating loss.

Summary

In summary, Wolfspeed Inc. has shown strength in its ability to increase revenue, indicating strong demand for its products and services. However, the company is facing significant challenges, as evidenced by the decrease in gross profit and the increase in operating loss. The company's increased cost of revenue is a significant concern and will need to be addressed to improve profitability.

Source documents

Form 10-Q  filed on Feb 01, 2024
153 pages scanned

Reference data

Company financials Q4 revenue 208M
Analyst estimates Q4 EPS missed by -13.24%
Sign up to Fey

Get in-depth analysis on thousands of stocks for just $30/month. Cancel anytime.