Wolfspeed to See 2024 Revenues Decline, Strong Recovery in 2025

Wolfspeed (NYSE: WOLF), a leading U.S. silicon carbide (SiC) technology company, is projected to see 2024 revenue decline by -10% year over year, a sharp contrast to the +24% growth in 2023. Analysts attribute the lower projections to lower demand growth as well as the company’s divestiture of its radio-frequency (RF) business. Although Wolfspeed’s smallest revenue segment, as of 2023 RF accounted for 17% of the company’s total revenue, while Power accounted for 44% and Materials the remaining 38%.

As the company moves its focus to its Power and Materials business segments going forward, analysts expect a bounce back in Wolfspeed’s revenues. According to Visible Alpha consensus estimates, the company’s revenue in 2025 is projected to grow by +42% year over year, primarily driven by an estimated +74% revenue growth in its Power segment. Between 2024 and 2027, Wolfspeed’s total revenue is expected to grow at a CAGR of 41%.

Sector: Technology
Industry: ICs Semiconductors
Ticker: WOLF_US