secwatch.observer — SEC 8-K summary
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Issuer:     Shimmick Corp (SHIM)
CIK:        0001887944
Form:       8-K
Filed at:   2025-05-14T23:59:59+00:00
Accession:  0000950170-25-071379
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Shimmick Q1 net loss improves to $10M from $33M; revenue $122M; reaffirms FY 2025 guidance
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- Revenue of $122M (+2% YoY); Shimmick Projects revenue $93M, Legacy/Foundations $29M.
- Gross margin improved to $5M (-$16M Q1 2024) driven by $6M Shimmick Projects improvement and no repeat of $14M legacy cost overruns.
- Net loss $10M vs $33M YoY; Adjusted EBITDA -$3M vs -$24M; adjusted EPS -$0.22 vs -$1.15.
- Backlog ~$740M with over 87% Shimmick Projects; new awards and extensions pending.
- FY 2025 guidance: Shimmick Projects revenue +10-15%, overall gross margin 9-12%, Adj. EBITDA $15-25M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1887944/000095017025071379/0000950170-25-071379-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1887944/000095017025071379/shim-20250514.htm
  HTML page:      https://secwatch.observer/filing/0000950170-25-071379

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