SkyWater Q1 revenue rises 20% to record $79.6M; net loss widens to $0.12/share

SkyWater Technology, Inc

2024-Q1 EPS reported -$0.12 revenue$79,636,000

GAAP net loss $5.7M ($0.12) vs $4.3M ($0.10) in Q1 2023; non-GAAP loss $3.7M ($0.08).
Gross margin fell to 16.3% GAAP from 24.9%; includes $8M accrual for cost overrun on A&D program.
ATS development revenue record $61.2M (+28% YoY); Wafer Services revenue down 44% to $10.0M.
Adjusted EBITDA $4.9M (6.2% margin) vs $8.1M (12.3%) a year ago; tools revenue $8.5M.
Customer-funded capex awards since 2020 exceed $100M; pipeline ~$200M over next three years.

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 0.98

SkyWater Technology, Inc reported first quarter 2024 ended March 31, 2024 results: revenue $79.6 million, net income Net loss to shareholders of $5.7 million, or $0.12 per share on a GAAP basis, EPS $0.12 per share on a GAAP basis.

Period: first quarter 2024 ended March 31, 2024
Revenue: $79.6 million
Net income: Net loss to shareholders of $5.7 million, or $0.12 per share on a GAAP basis
EPS: $0.12 per share on a GAAP basis
Result: reported results

Exact text from the filing

partner, today announced financial results for the first quarter 2024 ended March 31, 2024. Financial Highlights for Q1 2024: • Revenue increased 20% year-over-year to a record $79.6 million. • Gross margin decreased to 16.3% on a GAAP basis, compared to 24.9% in Q1 2023, and decreased to 16.9% on a non-GAAP basis, compared to 25.7% in Q1 2023. • Net loss to

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Source: SEC EDGAR

accession 0001819974-24-000012

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