Wolfspeed emerges from bankruptcy, cuts debt 70%, but revenue falls 12% on weak demand

Filed August 20, 2026 · Period ending June 28, 2026 · Compared to 10-K Aug 26, 2025 · ~2 min read

Key Changes

• high

  Emerged from Chapter 11 on Sept 29, 2025, reducing total debt ~$4.6B (70%) and annual cash interest 60%; fresh start accounting resets balance sheet, making post-Sept 2025 financials non-comparable to prior periods.

  MD&A: Chapter 11 emergence verify on EDGAR →
• high

  Revenue fell 12% to $1.05B (vs 6% decline prior year) as Materials Product sales dropped on weaker end-market demand and pricing pressure; Power Products grew on industrial end-of-life buys from Durham fab closure and AI/data center applications, offset by automotive weakness. Fiscal 2026 had 52 weeks vs fiscal 2025's 53 weeks.

  MD&A: Revenue performance verify on EDGAR →
• high

  Gross margin worsened to (33.1)% from (16.1)% as fresh start accounting added $23M inventory step-up and $42M intangible amortization to COGS; underutilization costs rose as Siler City reached production readiness (costs shifted from start-up to COGS).

  MD&A: Gross margin verify on EDGAR →