{"schema_version":"secwatch.filing_event.v1","accession":"0000950170-24-058688","form_type":"8-K","ticker":"SHIM","cik":"0001887944","company_name":"Shimmick Corp","filed_at":"2024-05-13T23:59:59+00:00","discovered_at":"2026-05-14T18:03:21.096225+00:00","generated_at":"2026-06-02T02:49:00.905038+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"negative","materiality_score":0.85,"calibrated_materiality_score":0.85,"confidence":"high","headline":"Shimmick Q1 net loss $33M on $120M revenue; credit default, going concern risk","bullets":["Revenue $120M (down 27% YoY); net loss $33M vs $9M loss in Q1 2023.","Adjusted EBITDA loss $24M (vs loss $1M); diluted EPS loss $1.30.","Legacy Projects revenue fell to $23M (from $56M) with negative gross margin of $11M.","Non-compliance with MidCap leverage covenant; $32M outstanding; negotiating waiver.","Non-core asset sales for ~$39M expected to close Q2; backlog $1.0B."],"urls":{"canonical":"https://secwatch.observer/filing/0000950170-24-058688","json":"https://secwatch.observer/filing/0000950170-24-058688.json","markdown":"https://secwatch.observer/filing/0000950170-24-058688.md","text":"https://secwatch.observer/filing/0000950170-24-058688.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1887944/000095017024058688/0000950170-24-058688-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1887944/000095017024058688/shim-20240513.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-02T02:49:00.905038+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"545b036e0444071cb5e9e3e3bbe18a9cbed8d3b6","claim":"Shimmick Corp reported first quarter ended March 29, 2024 results: revenue $120 million, net income net loss of $33 million, EPS $(1.30) per diluted share.","evidence_excerpt":"water infrastructure company, today announced financial results for the first quarter ended March 29, 2024. First Quarter 2024 and Recent Highlights • Reported revenue of $120 million, which includes $90 million of Shimmick Projects revenue • Reported a net loss of $33 million with an Adjusted EBITDA loss of $24 million • Continue to work down legacy backlog","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1887944/000095017024058688/0000950170-24-058688-index.htm","confidence":0.95,"family_label":"Earnings Releases","details":[{"label":"Period","value":"first quarter ended March 29, 2024"},{"label":"Revenue","value":"$120 million"},{"label":"Net income","value":"net loss of $33 million"},{"label":"EPS","value":"$(1.30) per diluted share"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}