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) announced that its Florida facility has received the prestigious DMEA Category 1A Trusted Supplier accreditation from the U.S. Department of Defense. This accreditation, which SkyWater's Minnesota facility also holds, underscores the company's commitment to secure microelectronics manufacturing for defense applications. The trust level is achieved through rigorous evaluations of personnel and procedures. This accreditation covers 100% of SkyWater's operations, enhancing its position in the aerospace and defense industry. Additionally, the Florida facility is part of a $190 million, five-year DOD contract aimed at expanding domestic wafer-level packaging capabilities.
SkyWater Technology, Inc. (NASDAQ: SKYT) reported its first quarter 2024 financial results with a record revenue of $79.6 million, marking a 20% year-over-year growth. Despite a decrease in gross margin to 16.3%, the company remains confident in its revenue growth projections for the year. Recent collaborations and customer-funded capex funding exceeding $100 million set a positive trajectory for SkyWater. However, net loss to shareholders increased to $5.7 million on a GAAP basis.
SkyWater Technology (SKYT) and Lumotive have collaborated to produce the world's first commercially available optical beamforming chip. Lumotive's product, utilizing SkyWater's Technology as a Service model, is a programmable optical metasurface that revolutionizes 3D sensing technology. The chip enables precise light manipulation at a subwavelength level, offering advantages in compactness, durability, speed, power consumption, and scalability for industrial sensors, autonomous vehicles, and more. The collaboration has resulted in the LM10 chip, which is already shipping globally and is set to redefine solid-state LIDAR technology for real-time interactions with the physical world.
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