SkyWater Q1 revenue record $66.1M, up 37% YoY; net loss narrows to $4.3M

SkyWater Technology, Inc

2023-Q1 EPS reported -$0.10 revenue$66,094,000

Revenue $66.1M (+37% YoY), driven by 82% growth in Advanced Technology Services to $48.3M.
GAAP gross margin 24.9% vs (2.0)% YoY; non-GAAP gross margin 25.8% vs 1.1%.
GAAP net loss $4.3M ($0.10/share) vs $16.6M ($0.42) YoY; adjusted EBITDA $8.1M (12.3% of revenue).
Aerospace & Defense demand accelerated; commercial weakness partially offset growth.
Cash $13.8M vs $30.0M at Jan 1, 2023; management confident in ~25% annual revenue growth target for 2023.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.97

SkyWater Technology, Inc reported first quarter ended April 2, 2023 results: revenue Revenue $66.1 million, net income Net loss to shareholders $(4.3) million, EPS Basic loss per share $(0.10).

Period: first quarter ended April 2, 2023
Revenue: Revenue $66.1 million
Net income: Net loss to shareholders $(4.3) million
EPS: Basic loss per share $(0.10)
Result: reported results

Exact text from the filing

SKYT), the trusted technology realization partner, today announced financial results for the first quarter 2023, ended April 2, 2023. Highlights for Q1 2023: • Revenue increased 37% year-over-year to a record $66.1 million. • Gross margin increased to 24.9% on a GAAP basis, compared to (2.0)% in Q1 2022, and increased to 25.8% on a non-GAAP basis, compared

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Earnings Releases SEC 8-K Item 2.02 confidence 0.97

SkyWater Technology, Inc reported first quarter ended April 2, 2023 results: revenue Revenue $66.1 million, net income Net loss to shareholders $(4.3) million, EPS Basic loss per share $(0.10).

Period: first quarter ended April 2, 2023
Revenue: Revenue $66.1 million
Net income: Net loss to shareholders $(4.3) million
EPS: Basic loss per share $(0.10)
Result: reported results

Exact text from the filing

partner, today announced financial results for the first quarter 2023, ended April 2, 2023. Highlights for Q1 2023: • Revenue increased 37% year-over-year to a record $66.1 million. • Gross margin increased to 24.9% on a GAAP basis, compared to (2.0)% in Q1 2022, and increased to 25.8% on a non-GAAP basis, compared to 1.1% in Q1 2022. • Net loss to

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Source: SEC EDGAR

accession 0001819974-23-000016

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