secwatch.observer — SEC 8-K summary
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Issuer:     SkyWater Technology, Inc (SKYT)
CIK:        0001819974
Form:       8-K
Filed at:   2022-05-03T23:59:59+00:00
Accession:  0001819974-22-000019
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

SkyWater Q1 revenue flat YoY at $48.1M; net loss widens to $14.5M
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1819974/000181997422000019/0001819974-22-000019-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1819974/000181997422000019/skyt-20220503.htm
  HTML page:      https://secwatch.observer/filing/0001819974-22-000019

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