SkyWater Technology (NASDAQ: SKYT) and Rockley Photonics (NYSE: RKLY) have expanded their collaboration to include wafer back-end processing for Rockley's advanced health monitoring technology. This partnership enhances Rockley's manufacturing capabilities, bolstering supply chain reliability and scalability. SkyWater's Technology as a Service (TaaS) model supports the development and production of Rockley's silicon photonics solutions, expected to revolutionize wearable health monitoring with non-invasive detection of multiple biomarkers. This collaboration aims to accelerate time to market for innovative health wearables.
Rockley Photonics Holdings Limited (NYSE: RKLY) announced its second quarter financial results for 2021, reporting revenue of $2.2 million, up from $1.8 million in Q1. However, the gross profit remained negative at $(2.4) million, worsening from $(2.0) million the previous quarter. The net loss was $30.6 million, an improvement from a $64.8 million loss in Q1. The company strengthened its cash position to $145.5 million post its merger with SC Health, targeting advancements in health and wellness solutions. Key developments included launching a new end-to-end digital health monitoring solution.
Rockley Photonics, Ltd. (NYSE: RKLY) plans to report its Q2 fiscal year 2021 financial results on August 16, 2021, after market closure. A conference call will follow at 5:00 p.m. ET to discuss these results and the company’s business outlook. Investors can access the call via phone or a live webcast on Rockley’s investor relations page. Founded in 2013, Rockley is a leader in silicon photonics, focusing on integrated circuits and solutions for health monitoring and data communications, positioning itself for substantial market influence.
Rockley Photonics has completed its business combination with SC Health Corp, approved by SC Health shareholders and the High Court of Justice. Trading under the ticker symbol RKLY on the NYSE begins August 12. The deal provides approximately $167.8 million in gross proceeds, enabling Rockley to accelerate the commercial launch of its innovative sensing platform capable of continuous health monitoring. This technology aims to transform consumer health with a focus on prevention and early intervention, positioning Rockley for significant growth in health and wellness sectors.