secwatch.observer — SEC 8-K summary
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Issuer:     Shimmick Corp (SHIM)
CIK:        0001887944
Form:       8-K
Filed at:   2025-03-13T23:59:59+00:00
Accession:  0000950170-25-038729
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Shimmick Q4 net loss widens to $38M; FY2025 Adj EBITDA guided $15-25M
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- Q4 revenue $104M (down 25% YoY); net loss $38M vs $17M loss a year ago; Adjusted EBITDA -$27M.
- FY2024 revenue $480M (down 24%); net loss $125M; backlog $822M with 87% Shimmick Projects.
- Legacy Projects gross margin -69% in Q4 (vs -17% prior year); Foundations -189%.
- FY2025 guidance: Shimmick Projects rev +10-15% with gross margin 9-12%; Adj EBITDA $15-25M.
- New $15M credit facility replaces MidCap revolver; liquidity $100M as of Jan 3, 2025.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1887944/000095017025038729/0000950170-25-038729-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1887944/000095017025038729/shim-20250313.htm
  HTML page:      https://secwatch.observer/filing/0000950170-25-038729

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer