SkyWater Technology : Reports First Quarter 2024 Results
May 08, 2024 at 02:02 pm EDT
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Seventh Straight Quarter of Record Revenue and 20% Growth Year-Over-Year
BLOOMINGTON, Minn. - May 8, 2024 - SkyWater Technology (NASDAQ: SKYT), the trusted technology realization partner, today announced financial results for the first quarter 2024 ended March 31, 2024.
Financial Highlights for Q1 2024:
Revenue increased 20% year-over-year to a record $79.6 million.
Gross margin decreased to 16.3% on a GAAP basis, compared to 24.9% in Q1 2023, and decreased to 16.9% on a non-GAAP basis, compared to 25.7% in Q1 2023.
Net loss to shareholders of $5.7 million, or $0.12 per share on a GAAP basis, and net loss to shareholders of $3.7 million, or $0.08 per share on a non-GAAP basis, compared to net loss to shareholders of $4.3 million, or $0.10 per share on a GAAP basis, and net loss to shareholders of $2.4 million, or $0.06 per share on a non-GAAP basis in Q1 2023.
Adjusted EBITDA of $4.9 million, or 6.2% of revenue, compared to $8.1 million, or 12.3% of revenue in Q1 2023.
View the results on SkyWater Technology's Investor Relations page: https://ir.skywatertechnology.com
SkyWater Investor Contact: Claire McAdams | claire@headgatepartners.com
SkyWater Media Contact: Lauri Julian | media@skywatertechnology.com
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SkyWater Technology, Inc. (SkyWater) is an independent, pure-play technology foundry that offers advanced semiconductor development and manufacturing services. Its technology-as-a-Service (TaaS) model leverages a foundation of technology and microelectronics manufacturing capacity to co-develop process technology intellectual property (IP) with its customers that enable disruptive concepts through its Advanced Technology Services (ATS) for diverse microelectronics (integrated circuits (ICs)) and related micro-and nanotechnology applications. In addition to differentiated technology development services, it supports customers with volume production of ICs for high-growth markets through its Wafer Services. SkyWaterâs technologies offer diverse categories, including mixed-signal metal-oxide-semiconductor (CMOS), read-out integrated circuits (ICs), rad-hard ICs, power management, microelectromechanical systems (MEMS), superconducting ICs, photonics, carbon nanotubes and interposers.
SKYWATER TECHNOLOGY, INC. 
