secwatch.observer — SEC 8-K summary
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Issuer:     SkyWater Technology, Inc (SKYT)
CIK:        0001819974
Form:       8-K
Filed at:   2024-05-08T23:59:59+00:00
Accession:  0001819974-24-000012
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1819974/000181997424000012/0001819974-24-000012-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1819974/000181997424000012/skyt-20240508.htm
  HTML page:      https://secwatch.observer/filing/0001819974-24-000012

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