SkyWater Technology, Inc. - SKYT STOCK NEWS

SkyWater Technology has signed a lease with Purdue Research Foundation to establish a presence in the WestGate@Crane Technology Park in Odon, Indiana. This location aims to foster collaboration in advanced semiconductor technology, particularly in areas like rad-hard electronics and advanced packaging. The initiative aligns with Indiana’s commitment to enhancing its domestic semiconductor manufacturing capabilities, as highlighted by a recent meeting between SkyWater's CEO Thomas Sonderman and Governor Eric Holcomb.

SkyWater Technology (NASDAQ: SKYT) has appointed Kevin Jackson as senior vice president of corporate development. With over 20 years of experience in the aerospace and defense sectors, Jackson's expertise is expected to enhance SkyWater's growth in the semiconductor industry, particularly in Radiation Hardened products and advanced packaging. He will oversee corporate strategy, financial risk analysis, and potential mergers or acquisitions to bolster market expansion. Jackson's prior role at Cobham Advanced Electronic Solutions showcases his extensive background in managing military programs.

SkyWater Technology (NASDAQ: SKYT) has achieved AS9100 certification for its Minnesota facility, which enhances its quality management system for aerospace and defense products. This certification streamlines customer engagement and opens new market opportunities, particularly in advanced packaging, a growing segment in the semiconductor industry. SkyWater, a trusted supplier, emphasizes its commitment to meeting customer requirements and plans to pursue similar certification for its Florida facility.

SkyWater Technology (NASDAQ: SKYT) reported a 6% year-over-year revenue growth for Q3 2021, totaling $35.0 million. However, the company faced a significant net loss of $13.9 million, or (40)% of revenue, and an Adjusted EBITDA of $(2.7) million. Despite challenges including supply chain issues and hiring constraints, SkyWater gained eight new customers, totaling 25 in the last year. Revenue delays impacted approximately $15 million in expected income. The wafer services revenue rose 44%, while advanced technology services saw an 8% decline.

SkyWater Technology (NASDAQ: SKYT) will report its third quarter fiscal 2021 financial results on November 2, 2021, after market close. Management will hold a webcast on November 3, 2021, at 9:00 a.m. CT to discuss the results. SkyWater, a U.S.-owned semiconductor manufacturer, offers a Technology as a Service model, providing development services and advanced production capabilities across various sectors, including aerospace, automotive, and biomedical.

SkyWater Technology (NASDAQ: SKYT) has partnered with Deca Technologies to develop advanced fan-out wafer-level packaging (FOWLP) technology using Adaptive Patterning® at its Florida facility. This initiative aims to establish the first high-volume FOWLP capability in the U.S. for diverse applications, including mobile devices and AI. Deca’s second-generation technology features improved specifications, targeting sectors like HPC and defense. With multiple customers already interested, this collaboration represents a significant step towards onshoring critical semiconductor technologies.

SkyWater Technology (NASDAQ: SKYT) is collaborating with NanoDx to scale the production of nanoscale sensors for rapid diagnostics. This partnership aims to pursue FDA Emergency Use Authorization for a two-minute COVID-19 test. NanoDx’s technology, which includes sensitive nanosensors detecting various biomarkers, enhances diagnostic capabilities. With ISO 13485 certification, SkyWater is positioned to support this critical initiative, addressing urgent healthcare needs during the pandemic and beyond.

SkyWater Technology hosted Minnesota Governor Tim Walz and Commissioner Steve Grove on September 16, 2021, at its Bloomington headquarters. The event emphasized manufacturing's role in Minnesota's economic growth and featured a tour of SkyWater's facilities. The discussion highlighted the importance of federal support through the U.S. Innovation and Competition Act, which proposes $52 billion for semiconductor initiatives. SkyWater aims to enhance domestic semiconductor manufacturing and create jobs, supporting the revitalization of American manufacturing in the microelectronics sector.

SkyWater Technology (NASDAQ: SKYT) has entered into a licensing agreement with Weebit Nano (ASX: WBT) to produce Weebit’s Resistive RAM (ReRAM) technology. This collaboration aims to facilitate volume production of ReRAM for various applications in automotive, IoT, and AI. SkyWater will integrate the technology into its 130nm CMOS process, which is beneficial for cost-effectiveness, reliability, and performance, especially in high-temperature environments. This partnership marks a significant step towards enhancing memory solutions in next-gen electronics.