Skywater Technology Inc Stock Price, News & Analysis

SkyWater Technology (NASDAQ: SKYT) has announced a change in the timing of its fourth quarter and full year 2024 financial results release. The company has moved the earnings report and webcast earlier to precede market open on Wednesday, February 26th, 2025, at 7:30 a.m. CST (8:30 a.m. EST). This rescheduling was done to avoid overlap with other semiconductor companies reporting that afternoon.

The earnings webcast will be accessible through SkyWater's Investor Relations website, with an archived version available for later viewing.

SkyWater Technology (NASDAQ: SKYT) has announced it will release its fiscal fourth quarter and full year 2024 financial results after market close on Wednesday, February 26, 2025. The company will host a webcast at 3:30 p.m. CST (4:30 p.m. EST) on the same day to discuss the business and financial results. Investors can access the live webcast through the company's investor relations website, and an archived version will be available afterward.

SkyWater Technology (NASDAQ: SKYT) has launched ThermaView℠ Solutions, a comprehensive suite of services and technologies for thermal imaging system designers. The initial offering includes their 90nm CMOS process (S90LN), specifically designed for read-out ICs (ROICs) in thermal imaging applications.

The S90LN platform features industry-leading low noise performance and high-density routing technology, enabling up to 15% improvement in chip density compared to conventional 90nm technology. These ROICs are designed to perform reliably in extreme conditions, including high altitude and space applications.

The thermal cameras market is projected to reach $9 billion by 2029, according to Yole Intelligence. As a DMEA-accredited Category 1A Trusted Supplier with IATF16949 automotive certification, SkyWater aims to serve aerospace, defense, automotive, and industrial markets with domestically sourced solutions.

SkyWater Technology (NASDAQ: SKYT) has announced its participation in the 27th Annual Needham Growth Conference at the Lotte New York Palace. The company's management will engage in a fireside chat, scheduled for Wednesday, January 15th at 11:45am EST.

The presentation will be accessible through a live webcast at wsw.com/webcast/needham143/skywa/2473174. Investors and interested parties can access both the presentation materials and the webcast (live and archived versions) through SkyWater's Investor Relations page at ir.skywatertechnology.com.

SkyWater Technology (NASDAQ: SKYT) has signed a preliminary memorandum of terms for up to $16 million in CHIPS Act funding from the U.S. Department of Commerce, complemented by $19 million in incentives from Minnesota's Forward Fund. Combined with existing customer-funded CapEx co-investments of $320 million through 2026, total outside investments are expected to exceed $350 million this decade.

The funding will enhance production capabilities at SkyWater's Minnesota facility, targeting aerospace, defense, biomedical, industrial, thermal imaging, and quantum computing markets. Key objectives include increasing 200mm semiconductor production capacity by 30% and creating 70 new jobs in Bloomington. The company will also benefit from an Advanced Manufacturing Investment Tax Credit of up to 25% on qualified capital expenditures.

SkyWater Technology (NASDAQ: SKYT) has amended its Loan and Security Agreement with Siena Lending Group and GRC SPV Investments, The amendment extends the revolving loan commitment to December 31, 2028 and increases borrowing capacity from $100 million to $130 million, with an additional $30 million available under an accordion feature. The facility includes a new $25 million capital expenditure sublimit for eligible equipment investments. The amendment also introduces enhanced flexibility for CapEx-related borrowings and includes a revised EBITDA definition. The company plans to use the increased capacity for capital investments, working capital, and growth initiatives.

Quantum-Si (QSI) and SkyWater Technology are expanding their collaboration to develop the consumable for Proteus™, QSI's next-generation protein sequencing platform. This builds upon their existing partnership since 2021 on the first-generation Platinum® platform. SkyWater will continue supplying consumables for Platinum Pro while supporting Proteus commercialization. The new platform aims to enable simultaneous large factor protein sequencing with enhanced accuracy. SkyWater, certified to ISO 13485 Quality Standard for Medical Devices, will leverage its Technology as a Service (TaaS) model and manufacturing capabilities to support this development.

SkyWater Technology (NASDAQ: SKYT) announced its participation in the 13th Annual NYC Summit investor conference, scheduled for December 17, 2024, at Mastro's Steakhouse New York. The company will be among 18 companies collectively hosting the event. SkyWater will make its investor presentation materials available on its investor relations website.

SkyWater Technology (NASDAQ: SKYT) reported its Q3 2024 financial results. The company achieved record revenues of $93.8 million, a 31% YoY increase. GAAP gross margin rose to 21.6% from 19.8% in Q3 2023, while non-GAAP gross margin increased to 22.3% from 20.4%. Net income to shareholders was $1.5 million ($0.03 per diluted share) on a GAAP basis and $3.6 million ($0.08 per diluted share) on a non-GAAP basis, compared to net losses in Q3 2023. Adjusted EBITDA reached $11.0 million, up from $8.3 million in Q3 2023. CEO Thomas Sonderman highlighted strong operational efficiencies and a significant A&D program. The company also expects sequential growth in Q4 for its ATS business, a robust revenue growth year in 2024, and continued improvements in 2025. Business highlights include a multi-year supply agreement with NanoDx and significant customer-funded CapEx investments. The Q4 2024 outlook forecasts revenues between $72 million and $76 million, with GAAP EPS ranging from $(0.12) to $(0.06).