By Elias Schisgall

Shares of Wolfspeed fell after reporting lower revenue in the fiscal second quarter and projecting further declines into the third quarter.

Shares fell 20% to $13.74 in pre-market trading Thursday. The stock closed Wednesday at $17.20, up nearly threefold over the past year.

The silicon carbide technology company on Wednesday posted a narrowed loss of $150.6 million, or $5.78 a share, compared with a loss of $372.2 million, or $2.88 a share a year earlier.

Stripping out certain one-time items, Wolfspeed reported a loss of $6.11 a share.

Revenue fell to $168.5 million, down from $180.5 million a year earlier.

The company had emerged from the Chapter 11 bankruptcy process in late September. It said it was able to maintain payments to vendors and operate business as usual during the process.

Wolfspeed recorded a $1.1 billion gain in reorganization items during the quarter reflecting the company's fresh start accounting post bankruptcy, it said.

For the current third quarter, the company is projecting revenue between $140 million and $160 million. It said the expected decline in revenue was driven by accelerated customer purchases in the first half of the year in advance of the company closing its manufacturing facility in Durham, N.C.

Write to Elias Schisgall at elias.schisgall@wsj.com

(END) Dow Jones Newswires

February 05, 2026 09:13 ET (14:13 GMT)

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