Skywater Technology Inc Financials
This page shows Skywater Technology Inc (SKYT) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 4 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores
Skywater Technology Inc has an operating margin of 1.9%, meaning the company retains $2 of operating profit per $100 of revenue. This below-average margin results in a low score of 10/100, suggesting thin profitability after operating expenses. This is up from -5.2% the prior year.
Skywater Technology Inc's revenue surged 19.4% year-over-year to $342.3M, reflecting rapid business expansion. This strong growth earns a score of 84/100.
Skywater Technology Inc carries a low D/E ratio of 0.62, meaning only $0.62 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 88/100, indicating a strong balance sheet with room for future borrowing.
Skywater Technology Inc's current ratio of 0.84 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 14/100, which could limit financial flexibility.
Skywater Technology Inc's free cash flow margin of 3.1% results in a low score of 15/100. Capital expenditures of $7.9M absorb a large share of operating cash flow.
Skywater Technology Inc scores 3.88, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($1.4B) relative to total liabilities ($250.3M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Skywater Technology Inc passes 5 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Skywater Technology Inc generates $-2.72 in operating cash flow ($18.5M OCF vs -$6.8M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.
Skywater Technology Inc earns $0.7 in operating income for every $1 of interest expense ($6.6M vs $8.8M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Skywater Technology Inc generated $342.3M in revenue in fiscal year 2024. This represents an increase of 19.4% from the prior year.
Skywater Technology Inc's EBITDA was $25.3M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 78.6% from the prior year.
Skywater Technology Inc generated $10.5M in free cash flow in fiscal year 2024, representing cash available after capex. This represents an increase of 619.0% from the prior year.
Skywater Technology Inc reported -$6.8M in net income in fiscal year 2024. This represents an increase of 77.9% from the prior year.
Skywater Technology Inc earned $-0.14 per diluted share (EPS) in fiscal year 2024. This represents an increase of 79.4% from the prior year.
Skywater Technology Inc held $18.8M in cash against $34.7M in long-term debt as of fiscal year 2024.
Skywater Technology Inc had 48M shares outstanding in fiscal year 2024. This represents an increase of 1.4% from the prior year.
Skywater Technology Inc's gross margin was 20.3% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is down 0.3 percentage points from the prior year.
Skywater Technology Inc's operating margin was 1.9% in fiscal year 2024, reflecting core business profitability. This is up 7.1 percentage points from the prior year.
Skywater Technology Inc's net profit margin was -2.0% in fiscal year 2024, showing the share of revenue converted to profit. This is up 8.8 percentage points from the prior year.
Skywater Technology Inc invested $15.0M in research and development in fiscal year 2024. This represents an increase of 47.9% from the prior year.
Skywater Technology Inc invested $7.9M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents a decrease of 7.9% from the prior year.
SKYT Income Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $150.7M+155.2% | $59.1M-3.6% | $61.3M-18.8% | $75.5M-19.1% | $93.3M+17.2% | $79.6M+0.6% | $79.2M+10.5% | $71.6M |
| Cost of Revenue | $114.5M+137.8% | $48.2M+2.4% | $47.0M-16.3% | $56.2M-26.3% | $76.2M+14.3% | $66.7M-0.7% | $67.1M+16.8% | $57.5M |
| Gross Profit | $36.2M+232.3% | $10.9M-23.6% | $14.3M-26.1% | $19.3M+12.8% | $17.1M+31.8% | $13.0M+8.1% | $12.0M-15.1% | $14.1M |
| R&D Expenses | $4.4M+29.8% | $3.4M+3.7% | $3.2M-22.9% | $4.2M+24.6% | $3.4M-15.7% | $4.0M+39.7% | $2.9M+28.6% | $2.2M |
| SG&A Expenses | $24.0M+71.3% | $14.0M-6.8% | $15.0M+20.9% | $12.4M+0.8% | $12.3M+10.4% | $11.2M-26.0% | $15.1M-6.3% | $16.1M |
| Operating Income | $7.9M+221.2% | -$6.5M-61.1% | -$4.0M-251.7% | $2.7M+89.4% | $1.4M+163.6% | -$2.2M+63.0% | -$6.0M-42.0% | -$4.2M |
| Interest Expense | $5.3M+225.1% | $1.6M-9.7% | $1.8M-8.3% | $2.0M-20.3% | $2.5M+3.8% | $2.4M-17.5% | $2.9M+15.6% | $2.5M |
| Income Tax | -$31.8M-4389.8% | $742K+93.2% | $384K+64.8% | $233K+283.5% | -$127K-409.8% | $41K+109.1% | -$450K-368.8% | -$96K |
| Net Income | $144.0M+1543.3% | -$10.0M-35.8% | -$7.3M-981.7% | -$679K+64.2% | -$1.9M+66.9% | -$5.7M+44.5% | -$10.3M-36.4% | -$7.6M |
| EPS (Diluted) | $2.95+1504.8% | $-0.21-40.0% | $-0.15-1400.0% | $-0.01+75.0% | $-0.04+66.7% | $-0.12+47.8% | $-0.23-43.8% | $-0.16 |
SKYT Balance Sheet
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $787.0M+135.1% | $334.7M+2.4% | $326.8M+4.8% | $311.8M+7.4% | $290.4M-7.0% | $312.3M-1.4% | $316.8M+5.7% | $299.7M |
| Current Assets | $238.6M+53.0% | $155.9M+3.7% | $150.4M+15.6% | $130.1M+7.8% | $120.7M-15.6% | $143.0M-2.3% | $146.4M+18.0% | $124.0M |
| Cash & Equivalents | $30.9M-37.4% | $49.4M-3.6% | $51.2M+171.9% | $18.8M+2.6% | $18.4M-8.2% | $20.0M+8.8% | $18.4M+6.0% | $17.3M |
| Inventory | $20.3M+51.7% | $13.4M-5.9% | $14.2M-2.2% | $14.5M-0.5% | $14.6M-6.1% | $15.6M+1.4% | $15.3M-7.9% | $16.6M |
| Accounts Receivable | $85.1M+165.7% | $32.0M-18.1% | $39.1M-25.3% | $52.4M+0.2% | $52.2M-9.8% | $57.9M-12.2% | $66.0M+51.7% | $43.5M |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $587.3M+107.7% | $282.7M+5.8% | $267.3M+6.8% | $250.3M+7.1% | $233.6M-7.6% | $252.9M-1.2% | $256.1M+10.4% | $231.9M |
| Current Liabilities | $355.9M+141.1% | $147.6M+15.9% | $127.3M-17.5% | $154.3M+15.2% | $133.9M-10.0% | $148.8M+3.2% | $144.2M+12.7% | $127.9M |
| Long-Term Debt | $34.3M-3.0% | $35.3M+4.8% | $33.7M-2.9% | $34.7M-7.2% | $37.4M+4.9% | $35.7M-1.2% | $36.1M-4.3% | $37.7M |
| Total Equity | $192.8M+326.2% | $45.2M-15.3% | $53.4M-4.0% | $55.6M+8.1% | $51.5M+0.2% | $51.3M-4.5% | $53.7M-14.5% | $62.9M |
| Retained Earnings | -$7.3M+95.1% | -$149.3M-7.2% | -$139.3M-4.0% | -$134.0M-0.9% | -$132.8M-1.4% | -$130.9M-4.6% | -$125.2M-9.0% | -$114.9M |
SKYT Cash Flow Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$47.2M-2731.0% | -$1.7M-103.0% | $56.0M+4475.8% | -$1.3M-113.7% | $9.3M+338.2% | -$3.9M-112.4% | $31.7M+968.7% | -$3.7M |
| Capital Expenditures | $830K-68.5% | $2.6M-82.1% | $14.8M+2072.1% | $680K-17.8% | $827K-34.3% | $1.3M-73.5% | $4.8M+278.5% | $1.3M |
| Free Cash Flow | -$48.0M-1015.8% | -$4.3M-110.4% | $41.2M+2203.0% | -$2.0M-123.0% | $8.5M+264.4% | -$5.2M-119.2% | $27.0M+649.7% | -$4.9M |
| Investing Cash Flow | -$88.2M-2356.4% | -$3.6M+76.4% | -$15.2M-642.1% | -$2.0M-78.2% | -$1.1M+44.5% | -$2.1M+65.6% | -$6.0M-378.7% | -$1.3M |
| Financing Cash Flow | $116.9M+3342.3% | $3.4M+140.5% | -$8.4M-665.6% | $1.5M+115.1% | -$9.8M-229.2% | $7.6M+130.8% | -$24.7M-506.3% | $6.1M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
SKYT Financial Ratios
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 24.0%+5.6pp | 18.4%-4.8pp | 23.3%-2.3pp | 25.6%+7.2pp | 18.3%+2.0pp | 16.3%+1.1pp | 15.2%-4.6pp | 19.8% |
| Operating Margin | 5.2%+16.2pp | -11.0%-4.4pp | -6.6%-10.1pp | 3.5%+2.0pp | 1.5%+4.3pp | -2.8%+4.8pp | -7.5%-1.7pp | -5.9% |
| Net Margin | 95.5%+112.4pp | -16.9%-4.9pp | -12.0%-11.1pp | -0.9%+1.1pp | -2.0%+5.2pp | -7.2%+5.8pp | -13.0%-2.5pp | -10.6% |
| Return on Equity | 74.7% | N/A | N/A | 2.7% | N/A | N/A | N/A | N/A |
| Return on Assets | 18.3%+21.3pp | -3.0%-0.7pp | -2.3%-2.0pp | -0.2%+0.4pp | -0.7%+1.2pp | -1.8%+1.4pp | -3.3%-0.7pp | -2.5% |
| Current Ratio | 0.67-0.4 | 1.06-0.1 | 1.18+0.3 | 0.84-0.1 | 0.90-0.1 | 0.96-0.1 | 1.02+0.0 | 0.97 |
| Debt-to-Equity | 0.18-0.6 | 0.78+0.1 | 0.630.0 | 0.62-0.1 | 0.73+0.0 | 0.69+0.0 | 0.67+0.1 | 0.60 |
| FCF Margin | -31.9%-24.6pp | -7.3%-74.5pp | 67.2%+69.8pp | -2.6%-11.7pp | 9.1%+15.6pp | -6.5%-40.6pp | 34.1%+41.0pp | -6.9% |
Note: The current ratio is below 1.0 (0.84), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
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Frequently Asked Questions
What is Skywater Technology Inc's annual revenue?
Skywater Technology Inc (SKYT) reported $342.3M in total revenue for fiscal year 2024. This represents a 19.4% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Skywater Technology Inc's revenue growing?
Skywater Technology Inc (SKYT) revenue grew by 19.4% year-over-year, from $286.7M to $342.3M in fiscal year 2024.
Is Skywater Technology Inc profitable?
No, Skywater Technology Inc (SKYT) reported a net income of -$6.8M in fiscal year 2024, with a net profit margin of -2.0%.
What is Skywater Technology Inc's earnings per share (EPS)?
Skywater Technology Inc (SKYT) reported diluted earnings per share of $-0.14 for fiscal year 2024. This represents a 79.4% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is Skywater Technology Inc's EBITDA?
Skywater Technology Inc (SKYT) had EBITDA of $25.3M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Skywater Technology Inc have?
As of fiscal year 2024, Skywater Technology Inc (SKYT) had $18.8M in cash and equivalents against $34.7M in long-term debt.
What is Skywater Technology Inc's gross margin?
Skywater Technology Inc (SKYT) had a gross margin of 20.3% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.
What is Skywater Technology Inc's operating margin?
Skywater Technology Inc (SKYT) had an operating margin of 1.9% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.
What is Skywater Technology Inc's net profit margin?
Skywater Technology Inc (SKYT) had a net profit margin of -2.0% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
What is Skywater Technology Inc's free cash flow?
Skywater Technology Inc (SKYT) generated $10.5M in free cash flow during fiscal year 2024. This represents a 619.0% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Skywater Technology Inc's operating cash flow?
Skywater Technology Inc (SKYT) generated $18.5M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Skywater Technology Inc's total assets?
Skywater Technology Inc (SKYT) had $311.8M in total assets as of fiscal year 2024, including both current and long-term assets.
What are Skywater Technology Inc's capital expenditures?
Skywater Technology Inc (SKYT) invested $7.9M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
How much does Skywater Technology Inc spend on research and development?
Skywater Technology Inc (SKYT) invested $15.0M in research and development during fiscal year 2024.
How many shares does Skywater Technology Inc have outstanding?
Skywater Technology Inc (SKYT) had 48M shares outstanding as of fiscal year 2024.
What is Skywater Technology Inc's current ratio?
Skywater Technology Inc (SKYT) had a current ratio of 0.84 as of fiscal year 2024, which is below 1.0, which may suggest potential liquidity concerns.
What is Skywater Technology Inc's debt-to-equity ratio?
Skywater Technology Inc (SKYT) had a debt-to-equity ratio of 0.62 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Skywater Technology Inc's return on assets (ROA)?
Skywater Technology Inc (SKYT) had a return on assets of -2.2% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is Skywater Technology Inc's Altman Z-Score?
Skywater Technology Inc (SKYT) has an Altman Z-Score of 3.88, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Skywater Technology Inc's Piotroski F-Score?
Skywater Technology Inc (SKYT) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Skywater Technology Inc's earnings high quality?
Skywater Technology Inc (SKYT) has an earnings quality ratio of -2.72x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Skywater Technology Inc cover its interest payments?
Skywater Technology Inc (SKYT) has an interest coverage ratio of 0.7x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Skywater Technology Inc?
Skywater Technology Inc (SKYT) scores 42 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.