earnings
confidence high
sentiment negative
materiality 0.75
SkyWater Q1 revenue flat YoY at $48.1M; net loss widens to $14.5M
SkyWater Technology, Inc
2022-Q1 EPS reported
-$0.42
revenue$48,121,000
- Revenue $48.1M (flat YoY, +25% QoQ); Wafer Services revenue jumped 115% YoY to $21.5M.
- GAAP gross loss of $0.9M (negative 2.0% margin) vs. $9.2M gross profit in Q1 2021.
- Net loss to shareholders $14.5M ($0.36/share) vs. $2.8M loss a year ago.
- Adjusted EBITDA negative $4.8M (negative 10% margin) vs. positive $5.6M in Q1 2021.
- Revised contract with largest customer improves pricing and revenue visibility; revenue recognized over time.