SkyWater Technology, Inc. - SKYT STOCK NEWS

SkyWater Technology (NASDAQ: SKYT) plans to invest $1.8 billion in a semiconductor research and production facility in Indiana. This initiative, part of a public-private partnership with the state and Purdue University, aims to secure funding from the CHIPS Act, facilitating increased domestic semiconductor manufacturing. The facility is expected to provide advanced development services and support local job creation while addressing global microelectronics shortages. The collaboration promises significant benefits for the U.S. government and commercial sectors.

SkyWater Technology (NASDAQ: SKYT) has secured a $27 million funding agreement from the Department of Defense to enhance its 90 nm radiation-hardened FDSOI technology platform. This agreement supports the ongoing effort to produce reliable chips for defense and aerospace sectors. It follows a previous commitment of up to $170 million from the DOD to boost onshore production capabilities. SkyWater aims to address the critical needs of the U.S. government by ensuring a secure semiconductor supply chain.

SkyWater Technology (NASDAQ: SKYT) announced its participation in the 14th Annual CEO Summit on July 13, 2022, held at the St. Regis Hotel, San Francisco. The event offers investors and analysts an opportunity to engage in small group meetings with management teams, including SkyWater's. Presentation materials will be available on the company’s investor relations website. The summit will feature management from 12 companies, co-sponsored by Cowen & Co., Intro-act, Jefferies, and Stifel. Registration for the event is by invitation only, with a deadline of July 1, 2022.

SkyWater Technology (NASDAQ: SKYT) has introduced a new component to its RH90 IP ecosystem, focusing on 90 nm strategic rad-hard solutions designed for microelectronics in demanding environments. This initiative includes two SRAM compilers developed in collaboration with Mobile Semiconductor, enhancing SkyWater's offerings backed by a $170 million investment from the Department of Defense. The new technologies aim to improve reliability in space and defense applications, signifying a key advancement in SkyWater’s technology roadmap.

SkyWater Technology (NASDAQ: SKYT) has partnered with Xperi Holding Corporation (NASDAQ: XPER) to license Adeia's advanced hybrid bonding technology. This agreement will enhance SkyWater's heterogeneous integration solutions, crucial for the evolving semiconductor industry focused on 3D packaging technologies. The hybrid bonding technology supports growing market demands, estimated to reach $8B by 2027, catering to sectors like aerospace, automotive, and IoT. SkyWater aims to streamline production processes while ensuring robust IP protection.

SkyWater Technology (NASDAQ: SKYT) has announced participation in two key investor conferences in Q2 2022. The first event is the Oppenheimer 7th Annual Emerging Growth Conference on May 10, 2022, featuring virtual 1x1 meetings. The second is the Cowen 50th Annual Technology, Media & Telecom Conference in New York on June 1-2, 2022, with a focus on 1x1 meetings. Investors can access presentation materials on the company's investor relations website.

SkyWater, a U.S.-owned semiconductor manufacturer, provides a Technology as a Service model for diverse market applications.

SkyWater Technology (NASDAQ: SKYT) announced CEO Thomas Sonderman will keynote the first U.S. International Semiconductor Executive Summit on May 9-10, 2022, in Scottsdale, Arizona. The summit aims to strengthen the U.S. semiconductor ecosystem and will gather leaders from the semiconductor supply chain. Sonderman will discuss strategies for revitalizing U.S. semiconductor manufacturing, emphasizing the importance of a secure microelectronics supply chain and workforce development. The event focuses on collaboration amid current semiconductor challenges.

SkyWater Technology (NASDAQ: SKYT) reported its Q1 2022 results, showcasing a revenue of $48.1 million, which remained unchanged year-over-year but increased 25% sequentially.

Despite this growth, the company faced a net loss of $16.6 million, or (35)% of revenue. Adjusted EBITDA was $(4.8) million.

The company executed a favorable contract with its largest customer, enhancing revenue visibility. Challenges persist with labor and supply chains, but confidence in achieving 25% annual growth remains as strategic initiatives progress.

SkyWater Technology (NASDAQ: SKYT) announced plans to report its first quarter fiscal 2022 financial results on May 3, 2022, after market close. A webcast will follow at 3:30 PM CDT to discuss the outcomes. SkyWater is a U.S.-owned semiconductor manufacturer providing a Technology as a Service model that supports diverse markets including aerospace, defense, and automotive. The company aims to streamline production processes and facilitate innovation across various tech sectors.