07:28 AM EDT, 05/09/2025 (MT Newswires) -- Wolfspeed ( WOLF ) shares dropped nearly 20% in recent Friday premarket activity after the chipmaker reported its fiscal Q3 financial results.

The company reported fiscal Q3 non-GAAP loss Thursday of $0.72 per share, widening from a loss of $0.62 a year earlier.

Analysts polled by FactSet expected $0.82 loss per share.

Net revenue for the quarter ended March 30 was $185.4 million, down from $200.7 million a year earlier.

Analysts surveyed by FactSet expected $185.8 million.

Wolfspeed ( WOLF ) expects fiscal 2026 revenue of $850 million, Reuters reported Friday. Analysts polled by FactSet expect $922.8 million.