SkyWater Q2 revenue up 34% to $41.2M but GAAP net loss widens to $7.0M; board approves $56M capex

SkyWater Technology, Inc

2021-Q2 EPS reported -$0.54 revenue$89,290,000

Net sales $41.2M, up 34% YoY; GAAP net loss $7.0M ($0.20/share) versus $5.3M loss ($0.29) a year ago.
Adjusted EBITDA -$0.8M vs +$2.5M; GAAP gross margin fell to 4.4% from 17.8%; Non-GAAP gross margin 7.2% vs 18.1%.
Board approved $56M strategic investment to expand Minnesota fab output by at least 40% and enter gallium nitride market.
Won several new bio-medical designs; advanced packaging engagements with two existing customers including Rockley Photonics.
Revenue growth target of ~25% for 2021 and beyond; one ATS program postponed but expected to resume in 2022.

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