Wolfspeed Reports Financial Results for the Second Quarter of Fiscal 2026

AI Datacenter Revenue up 50% QoQ $200 Million Annualized Operating Expense Reduction Compared to Q2 FY 2025 Capital Expenditures Down by 90% Year over Year Strong Balance Sheet Ending with $1.3 Billion in Cash, Cash Equivalents and Short-term Investments Wolfspeed, Inc. (NYSE: WOLF) today announced its results for the second quarter of fiscal 2026. Business Highlights Received approximately $700 million in Section 48D cash tax refunds and applied $175 million of the proceeds, net of make-whole premiums, toward the retirement of long-term debt. $1.3 billion of cash, cash equivalents and short term investments as of December 28, 2025. Working capital improvements (excluding liability management costs) contributing approximately $90 million. Further reduction of operating costs and capital expenditures ahead of plan resulted in a cumulative reduction of operating expenses of approximately $200 million on an annualized basis, with capital expenditures down 90%, compared to second quarter