---
schema_version: "secwatch.filing_event.v1"
accession: "0001819974-23-000016"
form_type: "8-K"
ticker: "SKYT"
cik: "0001819974"
company_name: "SkyWater Technology, Inc"
filed_at: "2023-05-08T23:59:59+00:00"
generated_at: "2026-06-15T14:04:29.356691+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001819974-23-000016
- form_type: 8-K
- ticker: SKYT
- cik: 0001819974
- company_name: SkyWater Technology, Inc
- filed_at: 2023-05-08T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1819974/000181997423000016/0001819974-23-000016-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1819974/000181997423000016/skyt-20230508.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001819974-23-000016
- JSON: https://secwatch.observer/filing/0001819974-23-000016.json
- Plain text: https://secwatch.observer/filing/0001819974-23-000016.txt

## Key facts
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1819974/000181997423000016/0001819974-23-000016-index.htm
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1819974/000181997423000016/0001819974-23-000016-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.