SkyWater Q2 revenue $59.1M, net loss $0.21/sh; closes Infineon Fab 25 buy; Q3 rev guidance $130-141M

SkyWater Technology, Inc

2025-Q2 EPS reported -$0.36 revenue$120,359,000

Q2 total revenue $59.1M, down 37% YoY; GAAP net loss $0.21/sh vs loss $0.04/sh; adjusted EBITDA $2.3M (72% decline).
Completed Infineon Fab 25 acquisition for ~$93M, funded by $350M revolver; expects ≥$300M annual revenue from Fab 25.
Q3 guidance: total revenue $130-141M (incl. ~$75-80M Texas Wafer Services); non-GAAP loss per share $(0.14)-(0.20).
ATS development revenue $52.6M (-15% YoY); CEO notes DOD funding timing may impact ATS growth this year.
Momentum in quantum computing and advanced packaging; Fab 25 expected to generate positive FCF starting Q3.

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