SkyWater Technology, Inc. (SKYT) closed at $9.74 in the latest trading session, marking a -1.32% move from the prior day. This change lagged the S&P 500's daily loss of 0.76%. On the other hand, the Dow registered a loss of 0.75%, and the technology-centric Nasdaq decreased by 1.01%. Coming into today, shares of the company had gained 6.93% in the past month. In that same time, the Computer and Technology sector gained 5.51%, while the S&P 500 gained 4.31%. The investment community will be paying close atte ...

The recommendations of Wall Street analysts are often relied on by investors when deciding whether to buy, sell, or hold a stock. Media reports about these brokerage-firm-employed (or sell-side) analysts changing their ratings often affect a stock's price. Do they really matter, though? Let's take a look at what these Wall Street heavyweights have to say about SkyWater Technology, Inc. (SKYT) before we discuss the reliability of brokerage recommendations and how to use them to your advantage. SkyWater Techn ...

1 IF D H HT T 100 - 100 1 i T 1 Pgiam/iStock via Getty Images Shares of SkyWater Technology, Inc. (SKYT) have shot up considerably in response to the second quarter results. This followed a first quarter in which green shoots as well as continued disappointments were seen. The company was starting to focus on becoming a lower-capital intensive business model. It was on the verge of becoming profitable, seeing real green shoots, although I was quick to acknowledge that investors in SkyWater have seen disappo ...

Core Viewpoint - SkyWater Technologies, a small U.S.-based chip manufacturing start-up, experienced significant stock volatility following its Q1 2024 earnings update, with shares initially dropping over 30% but later rebounding slightly, still down nearly 30% pre-earnings and nearly 20% year-to-date in 2024 [1][2]. Group 1: Business Model and Revenue - SkyWater operates a unique business model where 77% of its Q1 2024 revenue came from its Advanced Technology Service (ATS), a joint development initiative with customers to address specific semiconductor manufacturing needs [2][3]. - ATS revenue increased by 28% year-over-year in Q1, contributing to a total revenue of $79.6 million, which represents a 20% increase [4]. - The ATS program is not designed to be profitable; it serves as a feeder for the Wafer Services segment, which involves manufacturing and selling researched wafer technology to customers [5]. Group 2: Financial Performance and Challenges - Wafer Services revenue was reported at $10 million in Q1, slightly exceeding expectations but down 44% year-over-year [5]. - An additional $8 million ATS charge related to a customer project impacted margins but is expected to aid in achieving profitability for the remainder of 2024 [7]. - The semiconductor manufacturing industry is currently experiencing a cyclical slump, and 2024 is viewed as a transition year for SkyWater as it ramps up ATS development before shifting to more Wafer Services in 2025 and beyond [6]. Group 3: Market Sentiment and Investment Outlook - The volatility in SkyWater's stock price reflects typical small-cap stock behavior, and caution is advised for potential investors [8]. - The company is still in a start-up phase, and it will take time to transition ATS customers to Wafer Services, which is necessary for a more substantial impact on profitability [9]. - While there is long-term potential for growth, current market conditions suggest that there are more stable investment opportunities in the semiconductor sector for new investments [10].

SkyWater Technology, Inc. (NASDAQ:SKYT) Q1 2024 Earnings Conference Call May 8, 2024 4:30 PM ET Company Participants Claire McAdams - IR Thomas Sonderman - President & CEO Steve Manko - CFO Conference Call Participants Nicolas Doyle - Needham & Company Krish Sankar - TD Cowen Robert Aguanno - Piper Sandler Operator Thank you for standing by. My name is Greg, and I will be your conference operator today. At this time, I would like to welcome everyone to the SkyWater Technology Q1 2024 Financial Results Confe ...

Financial Performance - SkyWater's Q1 2024 total revenue reached $79.6 million, a 20% increase year-over-year[118] - Adjusted EBITDA for Q1 2024 was $4.9 million, compared to $8.1 million in Q1 2023[14] - The company experienced a net loss of $(5.7) million in Q1 2024, an improvement from $(10.3) million in Q4 2023[14] - Q1 2024 GAAP gross margin was 163%, a decrease of (860) bps compared to 249% in Q1 2023[105] Revenue Breakdown - ATS (Advanced Technology Services) development revenue hit a record of $61.2 million in Q1 2024, up 28% year-over-year[75] - Wafer Services revenue was $100 million in Q1 2024, a decrease of (44)% compared to $178 million in Q1 2023[75, 118] - Tools revenue reached $8.5 million in Q1 2024[75] Business Outlook - The company anticipates ATS development growth in the range of 10% to 20% over 2023[45] - Tools revenue is expected to be at least $20 million in Q2 2024[24] - Wafer Services revenue is expected to decline to the $4 to $5 million range in Q2 and then stabilize[153]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ______________________ FORM 10-Q ______________________ x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: March 31, 2024 ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to ________ Commission file number: 001-40345 SkyWater Technology, Inc. (Exact name of registrant ...

Recent Business Highlights: 1 • Revenue increased 20% year-over-year to a record $79.6 million. • Gross margin decreased to 16.3% on a GAAP basis, compared to 24.9% in Q1 2023, and decreased to 16.9% on a non-GAAP basis, compared to 25.7% in Q1 2023. • Net loss to shareholders of $5.7 million, or $0.12 per share on a GAAP basis, and net loss to shareholders of $3.7 million, or $0.08 per share on a non-GAAP basis, compared to net loss to shareholders of $4.3 million, or $0.10 per share on a GAAP basis, and n ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to ________ Commission file number: 001-40345 Securities registered under Section 12(b) of the Exchange Act: | Title of Each Class | Trading Symbol | Name ...

• Tool sales have historically been infrequent and viewed by management as secondary to ATS development programs. Accordingly, prior to the third quarter of 2023, we previously excluded the margin on tool sales when calculating non-GAAP gross profit, non-GAAP gross margin, non-GAAP earnings to shareholders and non-GAAP earnings to shareholders per basic share. Recently, our ATS customers have increasingly contracted with us to purchase tools on their behalf and we expect this trend to continue going forward ...