secwatch.observer — SEC 8-K summary
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Issuer:     SkyWater Technology, Inc (SKYT)
CIK:        0001819974
Form:       8-K
Filed at:   2023-05-08T23:59:59+00:00
Accession:  0001819974-23-000016
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1819974/000181997423000016/0001819974-23-000016-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1819974/000181997423000016/skyt-20230508.htm
  HTML page:      https://secwatch.observer/filing/0001819974-23-000016

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