SkyWater Technology, Inc. - SKYT STOCK NEWS

SkyWater Technology announced that President and CEO Thomas Sonderman will present a keynote at the ASMC 2023 about the impact of the CHIPS Act of 2022 on domestic semiconductor manufacturing. The event is scheduled from May 1-4 in Saratoga Springs, New York. The keynote will address key provisions of the CHIPS Act, which aims to revitalize U.S. semiconductor production, enhance supply chain security, and promote workforce development. Sonderman emphasized the importance of a national strategy to reclaim manufacturing leadership and accelerate innovation in critical technology sectors, including aerospace, defense, and automotive. The CHIPS Act is seen as a catalyst for building a secure and advanced semiconductor ecosystem in the U.S.

SkyWater Technology (NASDAQ: SKYT) has announced plans to release its first quarter fiscal 2023 financial results for the period ending April 2, 2023, on May 8, 2023, after market closure. Following the earnings report, management will host a webcast at 3:30 p.m. CDT (4:30 p.m. EDT) to discuss the company’s financial performance and business updates. SkyWater, a U.S.-based semiconductor manufacturer accredited as a Trusted Foundry, focuses on providing technology as a service, enabling customers to streamline production and innovation across various sectors including aerospace, defense, and IoT. Investors can access the live webcast and an archived version on the company’s Investor Relations page.

SkyWater Technology (NASDAQ: SKYT) has launched a new cryogenic lab in Bloomington, Minnesota, aimed at characterizing random telegraph signal (RTS) noise for read-out integrated circuits (ROICs). This development is essential for enhancing image quality in applications like night vision and military surveillance. Collaborating with the University of Tennessee and Arizona State University, SkyWater uses FormFactor's advanced cryogenic probe system to perform precise measurements. The ROIC market is projected to grow due to increased demand for infrared imaging systems across various industries.

SkyWater Technology (NASDAQ: SKYT) and Weebit Nano have launched Weebit's resistive RAM (ReRAM) IP in SkyWater's 130nm CMOS process. This collaboration enables the integration of innovative non-volatile memory (NVM) in systems-on-chip (SoCs) for applications across IoT, automotive, industrial, and medical sectors. Weebit ReRAM is designed to offer advantages like reduced power consumption, high write cycle endurance (up to 100K cycles), and robust performance under extreme conditions. The technology will be showcased at Embedded World 2023 and is expected to complete qualification in the first half of 2023.

SkyWater Technology (NASDAQ: SKYT) announced that CEO Thomas Sonderman will deliver a keynote at the U.S. International Semiconductor Executive Summit on March 7-8, 2023. His speech will focus on revitalizing domestic semiconductor manufacturing, highlighting the opportunities arising from the CHIPS and Science Act of 2022. Sonderman will discuss the importance of reshoring chip manufacturing, workforce development, and supply chain security. He emphasized that CHIPS funding will drive innovation in specialized semiconductor technologies, particularly in critical markets such as aerospace and biomedical. The summit aims to foster collaboration within the semiconductor industry.

SkyWater Technology (NASDAQ: SKYT) reported record revenues for Q4 2022 and the fiscal year. In Q4, revenue soared 69% year-over-year to $65.1 million, and gross margins improved significantly, reaching 25.4% GAAP. Despite a net loss of $3.0 million, losses per share showed substantial improvement from the prior year. For the fiscal year 2022, revenue rose 31% to $212.9 million with a gross margin of 12.2%. The company highlighted strong growth momentum and a new revenue baseline of approximately $60 million quarterly. Key partnerships and government grants bolster prospects, particularly in the semiconductor sector.