Skywater Technology Inc Stock Price, News & Analysis

SkyWater Technology (Nasdaq: SKYT) has completed its acquisition of Infineon Technologies' 200mm semiconductor fab (Fab 25) in Austin, Texas. The transaction adds 400,000 wafer starts per year in capacity, making SkyWater the largest exclusively U.S.-based, pure-play foundry service provider.

The $93 million acquisition ($73 million payment plus approximately $20 million for working capital) transforms Fab 25 from a captive integrated device manufacturer (IDM) into an open-access semiconductor foundry. The facility will focus on manufacturing semiconductors for embedded processors/MCUs, memory, mixed signal, RF, and power applications, primarily serving industrial, automotive, and defense customers.

The deal includes a long-term supply agreement with Infineon and brings approximately 1,000 Fab 25 employees to SkyWater. The acquisition is financed through a new $350 million five-year senior secured revolving credit facility, replacing the company's existing $130 million facility. At closing, the total draw on the new facility is $137 million.

[ "Adds significant manufacturing capacity with 400,000 wafer starts per year", "Becomes largest exclusively U.S.-based pure-play foundry with dual-sourced support", "Secures long-term supply agreement with Infineon", "Acquires advanced capabilities in copper processing, high-voltage technology, and 65 nm node infrastructure", "Expected to contribute significant revenue scale and strong adjusted EBITDA and free cash flow", "Secured larger credit facility of $350 million, up from previous $130 million" ]

SkyWater Technology (Nasdaq: SKYT) has announced the anticipated closing date of its previously announced Fab 25 acquisition, expected to complete on June 30, 2025. The company has received all required regulatory approvals for the transaction, marking a significant milestone in the acquisition process. The deal aims to enhance SkyWater's semiconductor manufacturing capabilities and strengthen its position in North America's semiconductor ecosystem.

SkyWater Technology (NASDAQ: SKYT) has announced its participation in three major investor conferences in May 2025:

• B. Riley Securities 25th Annual Investor Conference on May 22 in Marina Del Rey, CA
• Craig-Hallum 22nd Annual Institutional Investor Conference on May 28 in Minneapolis, MN
• TD Cowen 53rd Annual Technology, Media & Telecom Conference on May 29 in New York, NY

All conferences will feature one-on-one meetings only. Presentation materials will be available on SkyWater's investor relations website.

SkyWater Technology (NASDAQ: SKYT) reported Q1 2025 financial results with total revenue of $61.3 million, down 23% year-over-year. The company saw strong sequential growth in Wafer Services driven by demand for their new ThermaView platform from defense customers. However, Advanced Technology Services (ATS) revenue declined 14% YoY to $52.5 million due to federal budget delays affecting DOD program funding. GAAP net loss was $7.3 million ($0.15 per share), while gross margin improved to 23.3%. The company is progressing with the acquisition of Infineon's Fab 25 in Austin, backed by a $1B+ supply agreement, expected to close mid-2025. For Q2 2025, SkyWater projects revenue between $55-60 million with an expected GAAP net loss of $0.20-0.26 per share.

SkyWater Technology (NASDAQ: SKYT) has appointed Dr. Percy V. Gilbert as senior vice president of engineering, reporting to President and COO John Sakamoto. Gilbert will lead the company's engineering organization during a important growth phase, particularly as SkyWater approaches the closure of its Infineon Austin Fab acquisition.

Gilbert brings over 20 years of industry experience, including senior positions at NXP Semiconductors and IBM Systems Group, where he led process technology development and product engineering initiatives. He holds a Ph.D., M.S., and B.S. in electrical and computer engineering from Purdue University, with 10 U.S. patents and more than 20 technical publications to his credit.

SkyWater Technology (NASDAQ: SKYT) has scheduled its fiscal first quarter 2025 financial results announcement for Wednesday, May 7, 2025, after market close. The company will host a webcast at 3:30 p.m. CDT (4:30 p.m. EDT) on the same day to discuss its business performance and financial results.

Investors and interested parties can access the live webcast through the company's investor relations website at ir.skywatertechnology.com or directly via the provided event link.

SkyWater Technology (NASDAQ: SKYT) has announced significant changes to its Board of Directors with three new appointments effective March 31, 2025: Timothy E. Baxter, Tammy J. Miller, and Andrew D.C. LaFrence.

Current board chair Gary Obermiller, who has served since the company's founding in 2017, will retire after the Annual Meeting on May 21, 2025. Timothy Baxter is positioned to become the new board chair, pending election results.

The new appointees bring diverse expertise: Baxter, former Samsung Electronics North America CEO, managed $30B in revenue and has extensive technology industry experience. Miller, former North Dakota Lieutenant Governor and Border States Electric CEO, grew that company from $485M to $2.5B in annual sales. LaFrence, current CFO at Nortech Systems, brings expertise in finance, government contract manufacturing, and life sciences.

SkyWater Technology (NASDAQ: SKYT) and D-Wave Quantum have achieved a significant breakthrough in quantum computing. D-Wave's Advantage2™ annealing quantum computer prototype, fabricated by SkyWater, has demonstrated quantum supremacy in quantum simulation, as published in the AAAS journal Science.

The research confirms that D-Wave's quantum computer outperformed one of the world's most powerful classical supercomputers in solving complex magnetic materials simulation problems. This achievement is particularly significant for materials discovery, as magnetic materials are important in medical imaging, electronics, superconductors, and various other applications.

The partnership between SkyWater and D-Wave, spanning a decade at the Minnesota fab, combines SkyWater's specialized process integration and fabrication expertise with D-Wave's superconducting materials knowledge. This collaboration, supported by SkyWater's DOD Trusted Foundry status, strengthens U.S. leadership in advanced computing and domestic semiconductor manufacturing.

SkyWater Technology (NASDAQ: SKYT) and D-Wave Quantum have achieved a significant breakthrough in quantum computing. D-Wave's Advantage2™ annealing quantum computer prototype, fabricated by SkyWater, has demonstrated quantum supremacy in quantum simulation, as published in the AAAS journal Science.

The research confirms that D-Wave's quantum computer outperformed one of the world's most powerful classical supercomputers in solving complex magnetic materials simulation problems. This achievement is particularly significant for materials discovery, as magnetic materials are important in medical imaging, electronics, superconductors, and various other applications.

The partnership between SkyWater and D-Wave, spanning a decade at the Minnesota fab, combines SkyWater's specialized process integration and fabrication expertise with D-Wave's superconducting materials knowledge. This collaboration, supported by SkyWater's DOD Trusted Foundry status, strengthens U.S. leadership in advanced computing and domestic semiconductor manufacturing.