FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 For the fiscal year ended January 2, 2022 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 SkyWater Technology, Inc. (Exact name of registrant as specified in its charter) Delaware (State or other juri ...

SkyWater Technology, Inc. (NASDAQ:SKYT) Q4 2021 Earnings Conference Call February 23, 2022 10:00 AM ET Company Participants Heather Davis - IR Thomas Sonderman - President and CEO Steve Manko - CFO Conference Call Participants Krish Sankar - Cowen & Company Raji Gill - Needham & Company Natalia Winkler - Jefferies Harsh Kumar - Piper Sandler Operator Good morning. My name is David and I'll be your conference operator today. At this time, I'd like to welcome everyone to the SkyWater Technology Fourth Quarter ...

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: October 3, 2021 ¨ 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. (E ...

Financial Data and Key Metrics Changes - Total revenue for Q3 2021 was $35 million, a 6% increase compared to Q3 2020. Advanced Technology Services (ATS) revenue declined by 8% to $22.4 million, while Wafer Services revenue increased by 44% to $12.7 million [48][49]. - Cost of revenue increased by 43% year-over-year to $36.9 million, resulting in a gross loss of $1.8 million and a gross margin of negative 5.2%, down from 22.1% in the prior year [52][53]. - Adjusted EBITDA was a loss of $2.7 million, down from a positive $5.3 million in the previous year [58]. Business Line Data and Key Metrics Changes - Wafer output increased nearly 60% compared to the prior year, contributing to the 44% increase in Wafer Services revenue [51][45]. - ATS revenue was impacted by a significant multiyear program that is now expected to be completed in early 2022, which previously contributed $4.3 million in Q3 2020 [49][50]. Market Data and Key Metrics Changes - The company is experiencing supply chain challenges that have affected both its operations and those of its customers, leading to delays in revenue recognition [13][42]. - The company has entered into multiple long-term agreements to secure supply for the future, addressing ongoing supply chain constraints [42]. Company Strategy and Development Direction - The company emphasizes its role in enabling disruptive technologies and aims to support the U.S. semiconductor sovereignty initiative [10][11]. - SkyWater's business model combines traditional volume manufacturing with advanced technology services, allowing for a unique engagement model with customers [18][20]. - The company is focused on long-term growth areas, including biomedical applications, advanced packaging, and power management technologies [29][33][35]. Management's Comments on Operating Environment and Future Outlook - Management acknowledges ongoing challenges with supply chain and labor constraints but remains optimistic about long-term revenue growth opportunities [39][40]. - The company expects to continue facing near-term headwinds but believes in the potential for significant long-term shareholder value [39][62]. Other Important Information - The company ended the quarter with $8.4 million in cash and cash equivalents and paid down $30.3 million on its revolver, leaving total debt at $35.6 million [59][110]. - Significant investments in capital expenditures were made, totaling $17 million in Q3 2021, aimed at increasing capacity and efficiency [58][110]. Q&A Session Summary Question: Can you break down the additions to your fixed cost structure in COGS? - The increase in cost structure is attributed to volume, labor, and long-term investments, including $2 million in depreciation and $4.9 million related to rad-hard technology and advanced packaging [67][69][73]. Question: What is the visibility on the $15 million of revenue pushed into 2022? - The $15 million includes $3.5 million from government delays and the rest from supply chain constraints affecting wafer services and ATS programs [76][78][116]. Question: Is the long-term gross margin target of 40% still realistic? - Management maintains that the long-term target of 40% gross margin is achievable, despite current headwinds from investments in rad-hard and advanced packaging [83][84]. Question: How much of the 25% long-term revenue growth target is dependent on ATS and wafer services? - Currently, the business is two-thirds ATS and one-third wafer services, with ATS expected to drive future wafer services growth [90][92]. Question: What are the implications of the CHIPS Act for the company? - The CHIPS Act is expected to provide funding for new manufacturing capacity, which will complement state investments and industry contributions, enhancing the company's growth potential [98][99].

SkyWater Technology, Inc. (NASDAQ:SKYT) Q2 2021 Earnings Conference Call August 4, 2021 10:00 AM ET Company Participants Heather Davis - Investor Relations Thomas Sonderman - President and Chief Executive Officer Steve Manko - Chief Financial Officer Conference Call Participants Raji Gill - Needham & Company Mark Lipacis - Jefferies Harsh Kumar - Piper Sandler Krish Sankar - Cowen & Company Operator Good day. Thank you for standing by and welcome to SkyWater Technology's Second Quarter Fiscal Year 2021 Earn ...

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: July 4, 2021 ¨ 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. (Exac ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: April 4, 2021 ☐ 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 as specified in its charter) Delaware 37-183985 ...

SkyWater Technology, Inc. (NASDAQ:SKYT) Q1 2021 Earnings Conference Call May 19, 2021 10:00 AM ET Company Participants Heather Davis – Investor Relations Thomas Sonderman – President and Chief Executive Officer Steve Manko – Chief Financial Officer Conference Call Participants Mark Lipacis – Jefferies Krish Sankar – Cowen and Company Harsh Kumar – Piper Sandler Raji Gill – Needham & Company Operator Ladies and gentlemen, thank you for standing by and welcome to the SkyWater Technology First Quarter Fiscal Y ...