Skywater Technology Inc ( (SKYT) ) has released its Q4 earnings. Here is a breakdown of the information Skywater Technology Inc presented to its investors.
SkyWater Technology, Inc. is a U.S.-based semiconductor manufacturer specializing in advanced technology services and heterogeneous integration solutions, serving diverse markets such as aerospace, defense, and quantum computing.
In its latest earnings report, SkyWater Technology announced a record fiscal year 2024 with significant revenue growth, despite a slight decline in fourth-quarter revenue compared to the previous year. The company highlighted its strategic advancements and financial achievements, including the launch of new platforms and securing funding to enhance production capabilities.
Key financial metrics for the fourth quarter of 2024 showed a 5% year-over-year decrease in revenue to $75.5 million, while gross margin improved significantly. The company reported a net loss of $0.7 million on a GAAP basis but achieved a net income of $1.9 million on a non-GAAP basis. For the full fiscal year, revenue increased by 19% to $342.3 million, with a notable rise in ATS development revenue and tools revenue.
Strategically, SkyWater made significant progress with its ThermaView platform launch and secured a preliminary CHIPS funding award. The company also reported strong customer CapEx co-investment and advancements in transitioning ATS development programs into production. These efforts position SkyWater for continued growth in advanced packaging and other strategic areas.
Looking ahead, SkyWater Technology’s management remains optimistic about maintaining revenue momentum and expanding gross margins in fiscal 2025, driven by new products and customer growth in its ATS and Wafer Services businesses.
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