Wolfspeed's GAAP loss for 9 months of fiscal year 2022 was $233.3 million, down 37.8% from $374.9 million in the previous year. Revenues increased 36.3% to $517.7 million from $379.8 million a year earlier.

Wolfspeed has officially opened the Mohawk Valley Silicon Carbide plant in New York State. The new facility is part of the company's entire chain of semiconductor manufacturing. The first batch was received in early April 2022.

Wolfspeed's GAAP loss for 6 months of fiscal year 2022 was $166.8 million, down 37.5% from $266.8 million in the previous year. Revenue increased 36% to $329.7 million from $242.5 million a year earlier.

Cree rebranded and changed its name to Wolfspeed. The company's business is still focused on the production of silicon carbide semiconductor materials. The company's ticker has been changed to WOLF.