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) 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.
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.
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