Welcome to our dedicated page for SkyWater Technology news (Ticker: SKYT), a resource for investors and traders seeking the latest updates and insights on SkyWater Technology stock.
SkyWater Technology, Inc. (symbol: SKYT) is a U.S.-based, independent, pure-play technology foundry renowned for its semiconductor development and manufacturing services. Leveraging a rich history rooted in the pioneers of computing technology, SkyWater specializes in creating sophisticated semiconductor-based solutions for a myriad of vertical markets including computation, aerospace and defense, automotive, bio-health, and industrial sectors.
With its advanced development capabilities co-located with volume production, SkyWater stands out as a globally recognized facility, trusted by the Defense Microelectronics Activity (DMEA). The company’s unique Technology as a Service (TaaS) model allows it to co-develop process technology intellectual property (IP) with its clients, enabling innovative and disruptive concepts in microelectronics and nanotechnology applications.
SkyWater's fabrication facilities are designed to support a diverse range of special materials and technologies, providing them with the flexibility to innovate on any scale. Their comprehensive suite of services includes everything from initial design to final manufacturing, ensuring that clients receive tailored, end-to-end solutions built to meet the specific demands of high-growth industries.
Recent Achievements and Projects:
- Continuous advancements in semiconductor technology, enhancing performance and efficiency across various applications.
- Partnerships with leading companies and institutions to drive forward the development of next-generation microelectronics.
- Successful implementation of cutting-edge process technologies that serve critical sectors such as aerospace, defense, and bio-health.
SkyWater's commitment to innovation and quality has solidified its reputation as a leader in the semiconductor industry, making it a trusted partner for companies looking to bring groundbreaking technology to market.
SkyWater Technology (NASDAQ: SKYT) has signed a preliminary memorandum of terms for up to $16 million in CHIPS Act funding from the U.S. Department of Commerce, complemented by $19 million in incentives from Minnesota's Forward Fund. Combined with existing customer-funded CapEx co-investments of $320 million through 2026, total outside investments are expected to exceed $350 million this decade.
The funding will enhance production capabilities at SkyWater's Minnesota facility, targeting aerospace, defense, biomedical, industrial, thermal imaging, and quantum computing markets. Key objectives include increasing 200mm semiconductor production capacity by 30% and creating 70 new jobs in Bloomington. The company will also benefit from an Advanced Manufacturing Investment Tax Credit of up to 25% on qualified capital expenditures.
SkyWater Technology (NASDAQ: SKYT) has amended its Loan and Security Agreement with Siena Lending Group and GRC SPV Investments, The amendment extends the revolving loan commitment to December 31, 2028 and increases borrowing capacity from $100 million to $130 million, with an additional $30 million available under an accordion feature. The facility includes a new $25 million capital expenditure sublimit for eligible equipment investments. The amendment also introduces enhanced flexibility for CapEx-related borrowings and includes a revised EBITDA definition. The company plans to use the increased capacity for capital investments, working capital, and growth initiatives.
Quantum-Si (QSI) and SkyWater Technology are expanding their collaboration to develop the consumable for Proteus™, QSI's next-generation protein sequencing platform. This builds upon their existing partnership since 2021 on the first-generation Platinum® platform. SkyWater will continue supplying consumables for Platinum Pro while supporting Proteus commercialization. The new platform aims to enable simultaneous large factor protein sequencing with enhanced accuracy. SkyWater, certified to ISO 13485 Quality Standard for Medical Devices, will leverage its Technology as a Service (TaaS) model and manufacturing capabilities to support this development.
SkyWater Technology (NASDAQ: SKYT) announced its participation in the 13th Annual NYC Summit investor conference, scheduled for December 17, 2024, at Mastro's Steakhouse New York. The company will be among 18 companies collectively hosting the event. SkyWater will make its investor presentation materials available on its investor relations website.
SkyWater Technology (NASDAQ: SKYT) reported its Q3 2024 financial results. The company achieved record revenues of $93.8 million, a 31% YoY increase. GAAP gross margin rose to 21.6% from 19.8% in Q3 2023, while non-GAAP gross margin increased to 22.3% from 20.4%. Net income to shareholders was $1.5 million ($0.03 per diluted share) on a GAAP basis and $3.6 million ($0.08 per diluted share) on a non-GAAP basis, compared to net losses in Q3 2023. Adjusted EBITDA reached $11.0 million, up from $8.3 million in Q3 2023. CEO Thomas Sonderman highlighted strong operational efficiencies and a significant A&D program. The company also expects sequential growth in Q4 for its ATS business, a robust revenue growth year in 2024, and continued improvements in 2025. Business highlights include a multi-year supply agreement with NanoDx and significant customer-funded CapEx investments. The Q4 2024 outlook forecasts revenues between $72 million and $76 million, with GAAP EPS ranging from $(0.12) to $(0.06).
SkyWater Technology (NASDAQ: SKYT), a trusted technology realization partner, has announced that it will release its fiscal third quarter 2024 financial results on Thursday, November 7, 2024, after the market closes. The company will also host a webcast on the same day at 3:30 p.m. CST (4:30 p.m. EST) to discuss its business and financial results.
Investors and interested parties can access the live webcast through SkyWater's Investor Relations page at https://ir.skywatertechnology.com or directly at https://events.q4inc.com/attendee/163718612. An archived version of the webcast will be available on the company's Investor Relations page for those unable to attend the live event.
SkyWater Technology (NASDAQ: SKYT) has appointed Bassel Haddad as senior vice president and general manager of advanced packaging. Reporting to President and COO John Sakamoto, Haddad will build and scale SkyWater's advanced packaging business for both defense and commercial markets. He will oversee technology development, engineering, marketing, and Florida fab operations.
Haddad brings over 25 years of experience, including a strong background from Intel where he managed multi-billion dollar P&Ls. His expertise in silicon, platforms, and systems across enterprise, edge compute, and mobile markets is expected to drive SkyWater's growth in advanced packaging, particularly in the era of AI and heterogeneous integration.
SkyWater Technology (NASDAQ: SKYT), a trusted technology realization partner, has announced its participation in three upcoming investor conferences during the third quarter of 2024:
- 5th Annual Needham Virtual Semiconductor 1x1 Conference on August 22 (1x1s only)
- Jefferies Semiconductor, IT Hardware & Communications Technology Conference on August 28 in Chicago (1x1s only)
- Piper Sandler Growth Frontiers Conference on September 10 in Nashville, featuring a live webcast presentation at 2:30pm EDT
Investor presentation materials and a live/archived webcast link for the Piper Sandler presentation will be available on SkyWater's investor relations website at ir.skywatertechnology.com.
SkyWater Technology (NASDAQ: SKYT) announced its financial results for Q2 2024, showcasing its eighth straight quarter of record revenue.
Revenue saw a 34% year-over-year increase to $93.3 million. However, gross margins decreased to 18.3% on a GAAP basis and 18.9% on a non-GAAP basis.
The company reported a GAAP net loss of $1.9 million (or $0.04 per share), compared to a $8.6 million loss in Q2 2023. On a non-GAAP basis, there was a net income of $0.8 million (or $0.02 per share).
Adjusted EBITDA was $8.1 million, down from $10.3 million in Q2 2023. Notably, ATS development revenue rose to $61.7 million, while Tools revenue surged to $25.9 million.
CEO Thomas Sonderman emphasized the company's operational efficiency and customer-funded CapEx as key drivers for future growth.
SkyWater Technology (NASDAQ: SKYT) has received a groundbreaking Multicolumn E-Beam Lithography (MEBL) system from Multibeam Corp. for volume production. This first-of-its-kind system offers high-throughput direct write patterning, significantly faster than conventional e-beam tools. The MEBL system enables new capabilities including secure chip ID, full wafer patterning for focal plane read-out ICs, and sub 50 nm geometries on 200 mm wafers.
The collaboration between SkyWater and Multibeam over the past two years has been important in defining system performance specifications. SkyWater CEO Thomas Sonderman highlighted the technology's value for customers in secure defense, biomedical, thermal imaging, high reliability, and advanced compute markets. The company plans to make the tool available for initial customer designs in Q4 2024.
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