Skywater Technology Inc Stock Price, News & Analysis

SkyWater Technology (NASDAQ: SKYT) has announced that its management will participate in the 16th Annual CEO Investor Summit. The event is scheduled to take place on Wednesday, July 10th, at the St. Regis San Francisco. SkyWater will make the investor presentation materials available on its investor relations website.

SkyWater Technology (NASDAQ: SKYT) announced its participation in two upcoming investor conferences. The company management will attend the Craig-Hallum 21st Annual Institutional Investor Conference on May 29, 2024, in Minneapolis, MN, and the TD Cowen 52nd Annual Technology, Media & Telecom Conference on May 30, 2024, in New York, NY. Both events will feature one-on-one meetings. The investor presentation materials used at these events will be available on the company's investor relations website.

SkyWater Technology (NASDAQ: SKYT) announced that its Florida facility has received the prestigious DMEA Category 1A Trusted Supplier accreditation from the U.S. Department of Defense. This accreditation, which SkyWater's Minnesota facility also holds, underscores the company's commitment to secure microelectronics manufacturing for defense applications. The trust level is achieved through rigorous evaluations of personnel and procedures. This accreditation covers 100% of SkyWater's operations, enhancing its position in the aerospace and defense industry. Additionally, the Florida facility is part of a $190 million, five-year DOD contract aimed at expanding domestic wafer-level packaging capabilities.

SkyWater Technology, Inc. (NASDAQ: SKYT) reported its first quarter 2024 financial results with a record revenue of $79.6 million, marking a 20% year-over-year growth. Despite a decrease in gross margin to 16.3%, the company remains confident in its revenue growth projections for the year. Recent collaborations and customer-funded capex funding exceeding $100 million set a positive trajectory for SkyWater. However, net loss to shareholders increased to $5.7 million on a GAAP basis.

SkyWater Technology (SKYT) and Lumotive have collaborated to produce the world's first commercially available optical beamforming chip. Lumotive's product, utilizing SkyWater's Technology as a Service model, is a programmable optical metasurface that revolutionizes 3D sensing technology. The chip enables precise light manipulation at a subwavelength level, offering advantages in compactness, durability, speed, power consumption, and scalability for industrial sensors, autonomous vehicles, and more. The collaboration has resulted in the LM10 chip, which is already shipping globally and is set to redefine solid-state LIDAR technology for real-time interactions with the physical world.