Wolfspeed, Inc. Files Q2 2025 10-Q
Ticker: WOLF · Form: 10-Q · Filed: Jan 30, 2025 · CIK: 895419
| Field | Detail |
|---|---|
| Company | Wolfspeed, INC. (WOLF) |
| Form Type | 10-Q |
| Filed Date | Jan 30, 2025 |
| Risk Level | medium |
| Pages | 16 |
| Reading Time | 19 min |
| Key Dollar Amounts | $0.00125 |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, semiconductors, financials
TL;DR
Wolfspeed's Q2 2025 10-Q is in. Check financials.
AI Summary
Wolfspeed, Inc. filed its 10-Q for the period ending December 29, 2024. The company, formerly known as Cree, Inc., is a semiconductor manufacturer. This filing covers their second fiscal quarter of 2025, with financial data reported as of January 30, 2025.
Why It Matters
This filing provides investors with an update on Wolfspeed's financial performance and operational status for the second quarter of fiscal year 2025.
Risk Assessment
Risk Level: medium — As a semiconductor company, Wolfspeed operates in a cyclical and competitive industry, subject to market fluctuations and technological advancements.
Key Numbers
- 20241229 — Fiscal Period End (The report covers financial data up to this date.)
- 20250130 — Filing Date (The date the 10-Q was officially submitted to the SEC.)
Key Players & Entities
- WOLFSPEED, INC. (company) — Filer
- CREE, INC. (company) — Former company name
- 20241229 (date) — Fiscal period end date
- 20250130 (date) — Filing date
FAQ
What is the reporting period for this 10-Q filing?
The Conformed Period of Report is 20241229, indicating the period ending December 29, 2024.
What was Wolfspeed, Inc.'s former name?
Wolfspeed, Inc. was formerly known as CREE, INC.
What is Wolfspeed's primary industry classification?
Wolfspeed, Inc. is classified under SEMICONDUCTORS & RELATED DEVICES [3674].
Where is Wolfspeed, Inc. headquartered?
Wolfspeed, Inc. is located in Durham, NC, with a business address at 4600 Silicon Dr, Durham, NC 27703.
When was this 10-Q filing submitted to the SEC?
This filing was submitted on 20250130.
Filing Stats: 4,754 words · 19 min read · ~16 pages · Grade level 7.7 · Accepted 2025-01-30 16:06:18
Key Financial Figures
- $0.00125 — ange on which registered Common Stock, $0.00125 par value WOLF New York Stock Exchange
Filing Documents
- wolf-20241229.htm (10-Q) — 1709KB
- exhibit104-separationandre.htm (EX-10.4) — 86KB
- wolfspeed12292024ex311.htm (EX-31.1) — 10KB
- wolfspeed12292024ex312.htm (EX-31.2) — 10KB
- wolfspeed12292024ex321.htm (EX-32.1) — 6KB
- wolfspeed12292024ex322.htm (EX-32.2) — 6KB
- wolf-20241229_g1.jpg (GRAPHIC) — 155KB
- 0000895419-25-000018.txt ( ) — 9926KB
- wolf-20241229.xsd (EX-101.SCH) — 66KB
- wolf-20241229_cal.xml (EX-101.CAL) — 138KB
- wolf-20241229_def.xml (EX-101.DEF) — 252KB
- wolf-20241229_lab.xml (EX-101.LAB) — 775KB
- wolf-20241229_pre.xml (EX-101.PRE) — 527KB
- wolf-20241229_htm.xml (XML) — 1584KB
Financial Information
Part I. Financial Information
Financial Statements (Unaudited)
Item 1. Financial Statements (Unaudited) 3
Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 29
Quantitative and Qualitative Disclosures About Market Risk
Item 3. Quantitative and Qualitative Disclosures About Market Risk 39
Controls and Procedures
Item 4. Controls and Procedures 39
Other Information
Part II. Other Information
Legal Proceedings
Item 1. Legal Proceedings 40
Risk Factors
Item 1A. Risk Factors 41
Unregistered Sales of Equity Securities and Use of Proceeds
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 57
Defaults Upon Senior Securities
Item 3. Defaults Upon Senior Securities 58
Mine Safety Disclosures
Item 4. Mine Safety Disclosures 58
Other Information
Item 5. Other Information 58
Exhibits
Item 6. Exhibits 59 2 Table of Contents
- FINANCIAL INFORMATION
PART I - FINANCIAL INFORMATION
Financial Statements (Unaudited)
Item 1. Financial Statements (Unaudited) Consolidated Balance Sheets as of Dec ember 29, 2024 and June 30, 2024 4 Consolidated Statements of Operations for the three and six months ended Dec ember 29, 2024 and Dec ember 31 , 2023 5 Consolidated Statements of Comprehensive Loss for the three and si x months ended D e c ember 29, 2024 and Dec ember 31 , 2023 6 Consolidated Statements of Shareholders' Equity for the six months ended Dec ember 29, 2024 and Dec ember 31 , 2023 7 Consolidated Statements of Cash Flows for the six months ended Dec ember 29, 2024 and Dec ember 31 , 2023 9 Notes to Unaudited Consolidated Financial Statements 10 3 Table of Contents WOLFSPEED, INC. UNAUDITED CONSOLIDATED BALANCE SHEETS (in millions of U.S. Dollars, except share data in thousands) December 29, 2024 June 30, 2024 Assets Current assets: Cash and cash equivalents $ 614.0 $ 1,045.9 Short-term investments 790.8 1,128.7 Total cash, cash equivalents and short-term investments 1,404.8 2,174.6 Accounts receivable, net 153.9 147.4 Inventories 477.1 440.7 Income taxes receivable 0.3 0.5 Prepaid expenses 67.9 56.6 Other current assets 123.1 179.8 Total current assets 2,227.1 2,999.6 Property and equipment, net 3,903.4 3,652.3 Goodwill 359.2 359.2 Intangible assets, net 23.6 23.9 Long-term receivables 2.1 2.3 Other long-term investments 95.0 79.3 Deferred tax assets 1.1 1.1 Investment tax credit receivable 865.0 641.8 Other assets 264.9 225.1 Total assets $ 7,741.4 $ 7,984.6 Liabilities and Shareholders' Equity Current liabilities: Accounts payable and accrued expenses $ 456.1 $ 523.6 Contract liabilities and distributor-related reserves 42.1 62.3 Income taxes payable 1.0 1.0 Finance lease liabilities 0.5 0.5 Other current liabilities 207.6 77.9 Total current liabilities 707.3 665.3 Long-term liabilities: Long-term debt 3,384.2 3,126.2 Convertible notes, net 3,039.6 3,034.9 Deferred tax liabilities 10.8 10.8 Finance lease liabil