SkyWater posts record Q3 revenue of $93.8M, swings to GAAP net income of $1.5M

SkyWater Technology, Inc

2024-Q3 EPS reported -$0.13 revenue$266,782,000

Record revenue $93.8M (+31% YoY); GAAP EPS $0.03 vs loss $(0.16); non-GAAP EPS $0.08 vs loss $(0.05).
Gross margin expanded to 21.6% GAAP (22.3% non-GAAP) from 19.8% (20.4%); adjusted EBITDA $11.0M.
Benefit from $5.6M reversal of loss accrual on A&D program; ATS dev revenue +5%, Wafer Services -54%.
Q4 guidance: revenue $72-76M, GAAP EPS $(0.12)-(0.06), non-GAAP EPS $(0.10)-(0.04).
Nine straight record revenue quarters; $30M+ customer-funded CapEx; selected for CHIPS Act ME Commons.

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