secwatch.observer — SEC 8-K summary
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Issuer:     SkyWater Technology, Inc (SKYT)
CIK:        0001819974
Form:       8-K
Filed at:   2021-08-03T23:59:59+00:00
Accession:  0001819974-21-000009
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1819974/000181997421000009/0001819974-21-000009-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1819974/000181997421000009/skyt-20210803.htm
  HTML page:      https://secwatch.observer/filing/0001819974-21-000009

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