secwatch.observer — SEC 8-K summary
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Issuer:     Shimmick Corp (SHIM)
CIK:        0001887944
Form:       8-K
Filed at:   2025-11-13T23:59:59+00:00
Accession:  0001193125-25-280160
Event type: earnings
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Shimmick Q3 2025 revenue $142M, Adj. EBITDA $4M (first positive in 4 qtrs), backlog up 15% QoQ
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- Revenue $142M; Shimmick Projects revenue $107M (+6% YoY); net loss $4M ($0.12 diluted loss per share).
- Adjusted EBITDA $4M (first positive quarter in four) vs $30M in Q3 2024 (which included $17M gain on sale and $11M settlement).
- Backlog $754M, up 15% QoQ; book-to-burn ratio 1.7x; $190M in new awards in Q3 2025.
- FY2025 guidance reaffirmed: Shimmick Projects revenue $405-415M, consolidated Adj. EBITDA $5-15M; expects revenue at higher end, EBITDA at lower end.
- Non-Core revenue $35M vs $65M in Q3 2024 due to prior-year one-time settlement; gross margin improved on Shimmick Projects to 9%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1887944/000119312525280160/0001193125-25-280160-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1887944/000119312525280160/shim-20251113.htm
  HTML page:      https://secwatch.observer/filing/0001193125-25-280160

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