The Tool Desk
Outbyte Driver Updater FREEScan for outdated or missing drivers - takes under a minuteDriver Scan →Outbyte PC Repair FREEClear out junk files and repair common Windows errorsFree Scan →Wolfspeed emerged from Chapter 11 in September 2025 with substantially less debt, but its old common shares were canceled and replaced under the restructuring plan. Its latest reported results, for the quarter ended June 28, 2026, show the central tension in the WOLF stock story: the company has significant cash and is pursuing data-center growth, yet it continues to report losses, negative gross margin and pressure in important markets. The figures below are company-reported; they do not provide a live WOLF share price or a basis for a personal investment decision.
Wolfspeed’s bankruptcy changed what WOLF shares represent
Wolfspeed and a subsidiary filed voluntary Chapter 11 petitions on June 30, 2025, to carry out a prepackaged restructuring. The company announced that it emerged on September 29, 2025. It reported that the plan cut total debt by approximately 70% and annual cash interest expense by roughly 60% compared with pre-emergence levels. Those reductions improved the company’s balance sheet, but do not establish that its operations are profitable or that the stock will rise.
Old common shares were canceled
The restructuring plan canceled all previously issued common shares. Immediately before emergence, 156,479,390 old common shares were outstanding. Existing holders initially received approximately 1,306,896 shares of the reorganized company in aggregate; the plan issued 25,840,656 new common shares in total, including shares for pre-petition convertible noteholders. After CFIUS clearance in January 2026, another 871,287 shares were distributed to former holders under the plan. Wolfspeed described these as the release of 2.0% equity recovery shares to pre-petition shareholders.
As a result, the continuing WOLF ticker does not mean the old shares simply survived bankruptcy. Historical charts and share counts can span two different equity structures, and the reorganized company’s ownership base is not the same as the old one.
Free tools Windows power users keep installed
One-click scans. No signup required.
#1 Best Overall
Renesas became part of the reorganized ownership picture
Renesas, a creditor before the restructuring, received convertible debt and equity-related consideration and obtained a board seat after regulatory approvals. CFIUS clearance in January 2026 completed a key component of that transaction.
What Wolfspeed’s latest reported quarter shows
Wolfspeed’s fiscal fourth quarter of 2026 ended June 28, 2026. The company reported the following results:
Rank #2
- Ideal for Gifting
- Ideal for a bookworm
- Compact for travelling
| Measure | Fiscal Q4 2026 result | What it measures |
|---|---|---|
| Revenue | Approximately $150 million | Sales during the quarter |
| GAAP gross margin | Negative 25% | Gross profit or loss relative to revenue, before operating expenses |
| GAAP net loss | $145 million | Bottom-line loss for the quarter under GAAP |
| Adjusted EBITDA | Negative $62 million | A non-GAAP operating-performance measure |
| Operating cash flow | Negative $54 million | Cash used by operating activities during the quarter |
| Cash, cash equivalents and short-term investments | $1.1 billion at June 28, 2026 | Liquidity on the balance-sheet date |
These measures answer different questions: cash on hand is a balance-sheet snapshot, while operating cash flow tracks cash generated or used over the quarter. A substantial cash balance can support operations, but it does not erase the reported loss or turn negative operating cash flow into positive cash generation.
Annual comparisons need an accounting caveat
Wolfspeed’s annual report says consolidated net sales across the successor period ending June 28, 2026 and predecessor period ended September 29, 2025 were down 12% compared with fiscal 2025. The company also adopted fresh-start accounting after emergence. Successor and predecessor results therefore use different accounting bases, so that reported comparison is not a clean like-for-like annual measure.
What’s actually slowing this PC down?
Pick the symptom - the matching free tool is one click away.
The company also reported approximately $733 million received across the successor and predecessor reporting periods from refundable Advanced Manufacturing Investment Credit tax credits, New York State grants related to the Mohawk Valley Fab, and other government tax credits, compared with fiscal 2025. That support contributed to liquidity; it does not show that recurring operations were cash-flow positive.
AI data centers offer growth potential, but remain one part of the business
Wolfspeed makes silicon-carbide materials and power devices for automotive, industrial and energy markets, and is pursuing data-center and grid applications. The company said its AI data-center revenue more than doubled year over year in fiscal 2026 and rose approximately 20% sequentially in fiscal Q4. It characterized the opportunity as moderate but growing, rather than a replacement for its broader revenue base.
Rank #4
Wolfspeed also announced a fifth-generation SiC MOSFET, a dedicated data-center solutions team and a strategic collaboration with LITEON. These moves show product and commercial activity; they do not, by themselves, establish sustained profitable sales or prove that the opportunity will offset weakness elsewhere.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Automotive, materials and factory utilization remain important pressures
In its annual report, Wolfspeed described declining automotive demand, materials customers adjusting order timing and size amid weaker end-market demand, and pressure on substrate prices as supply increased, particularly from suppliers in China. The company also expected significant underutilization costs to continue until market demand met or exceeded production capacity. Underused manufacturing capacity can weigh on economics even when a company is investing in new products or sees growth in a particular end market.
Best Value
- It can be a gift option
- Comes with secure packaging
- Helpful in various ways
The report also describes the transition of internal chip manufacturing to 200mm and reduced demand for 150mm substrates in the context of operational changes. Wolfspeed completed an approximately 8% headcount reduction in fiscal 2026’s second quarter and approved a further planned reduction of approximately 6% during the fourth quarter, expected to be completed by the first half of fiscal 2027.
How to read the WOLF stock story
The company’s position is best understood by keeping two comparisons separate:
- Balance-sheet repair versus operating performance: The restructuring reduced debt and cash interest expense, and the company reported $1.1 billion of cash, cash equivalents and short-term investments at June 28, 2026. In the same fiscal Q4, it reported a GAAP net loss, negative gross margin and negative operating cash flow.
- New demand versus capacity economics: AI data-center revenue grew according to Wolfspeed, but the company called that opportunity moderate and growing. Automotive and materials demand, substrate pricing and utilization of manufacturing capacity remain material to the business.
For investors trying to understand a current price move, the figures here are not a live quote: the latest quarter covered ended June 28, 2026, and the company’s restructuring changed the share base. The exact share price and current price movement are not established by these reported results. Any assessment of the stock also depends on future demand, pricing, production yields, capacity utilization, customer conversion and the company’s ability to manage costs and financing needs.
Quick Recap
Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.
