On August 20, Wolfspeed Inc. declined more than 10% in pre-market trading. The drop follows the company's fiscal Q4 earnings release after the prior session, in which revenue significantly missed Wall Street expectations.

Wolfspeed reported Q4 revenue of $149.6 million, far below the consensus estimate of $224.5 million and down 24% year-over-year. Adjusted EPS came in at a loss of $2.26, widening sharply from a $0.77 loss in the year-ago quarter, though beating the $2.45 loss estimate. GAAP gross margin was -25%, with adjusted gross margin at -20%. For fiscal Q1, the company guided revenue of $140 million to $160 million, with the $150 million midpoint slightly below the $150.4 million consensus.

The earnings miss compounds recent pressure after Wolfspeed's stock had already fallen approximately 16% over the prior two sessions following reports that Nvidia's native 800V DC architecture mass adoption would be delayed beyond 2028, undermining near-term revenue expectations from Wolfspeed's recently announced collaboration with Liteon Technology on 800V DC power solutions for hyperscale AI data centers.

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