SkyWater Technology, Inc. - SKYT STOCK NEWS

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.

SkyWater Technology (NASDAQ: SKYT) has launched its 90 nm readout integrated circuit (S90ROIC) multi-project wafer (MPW) program, designed for rapid, low-cost prototyping aimed at aerospace and defense applications, as well as advanced imaging technologies. The program supports designs for various applications including LIDAR and medical imaging. Initial design submissions are due by November 2021. The S90ROIC platform features low noise performance transistors and enhanced capabilities for high-performance utilizations. This initiative responds to rising demand in the aerospace and defense sector, emphasizing security and reliability.

SkyWater Technology (NASDAQ: SKYT) has partnered with Carillon Technologies to produce solid-state Holographic Optical Beam Steering (HOBS) chips for satellite and free-space optical communications. This initiative, in cooperation with DARPA, aims to enhance U.S. defense operations by transitioning commercial technologies to government applications. The HOBS technology, developed by Lumotive, aims to replace expensive moving mirrors with cost-effective, lightweight chips, addressing the critical needs of future space architectures.

SkyWater Technology (NASDAQ: SKYT) and Rockley Photonics (NYSE: RKLY) have expanded their collaboration to include wafer back-end processing for Rockley's advanced health monitoring technology. This partnership enhances Rockley's manufacturing capabilities, bolstering supply chain reliability and scalability. SkyWater's Technology as a Service (TaaS) model supports the development and production of Rockley's silicon photonics solutions, expected to revolutionize wearable health monitoring with non-invasive detection of multiple biomarkers. This collaboration aims to accelerate time to market for innovative health wearables.

SkyWater Technology (NASDAQ: SKYT) reported Q2 2021 financial results showing a 34% year-over-year increase in net sales to $41.2 million. Despite growth, the company experienced a net loss of $7.0 million, marking a 32% increase in losses compared to Q2 2020. Gross profit decreased significantly to 4.4% of sales. Positive developments include strategic investments of $56 million aimed at expanding capacity and entering the gallium nitride market. SkyWater anticipates future growth from its technology services in various sectors, including biomedical and automotive.

SkyWater Technology (NASDAQ: SKYT) announced a $56 million investment to enhance its Minnesota facility and accelerate its entry into the 200 mm GaN market. This move aims to solidify its leadership in aerospace, defense, industrial, and automotive sectors. For Q2 2021, SkyWater anticipates net sales of $41.0 to $41.5 million, with a net loss of $7.0 to $8.0 million. Notable achievements include transitioning customers to Wafer Services and launching a 90 nm rad-hard program.

SkyWater Technology (NASDAQ: SKYT) will report its second quarter fiscal 2021 financial results on August 3, 2021, after market close. A webcast to discuss the results will be held on August 4, 2021, at 9:00 a.m. CT. The company specializes in custom technology development and volume semiconductor manufacturing, serving sectors such as aerospace, automotive, and IoT. As a DOD-accredited supplier, SkyWater provides advanced packaging capabilities and technology services essential for various applications, including superconducting and MEMS devices.

SkyWater Technology (NASDAQ: SKYT) has launched its first Early Access Program multi-project wafer shuttle using its 90 nm Strategic Rad-Hard by Process platform. This innovation is expected to enhance performance in harsh radiation environments. The initial shuttle utilizes aluminum interconnect technology, with future shuttles planned to incorporate copper interconnects. The development is supported by a significant investment from the U.S. Department of Defense aimed at boosting microelectronics capabilities. The RH90 process is projected to double performance for certain applications, catering to aerospace and defense needs.

SkyWater Technology (NASDAQ: SKYT) will join the Russell 3000 Index effective June 28, 2021, following the annual reconstitution. This inclusion enhances visibility for SkyWater within the investment community, following their IPO in April 2021. The Russell 3000 Index includes the largest 4,000 U.S. stocks, which are ranked by market capitalization. Approximately $10.6 trillion in assets are managed against Russell's indexes, providing significant benchmark advantages for the company.