Financial Data and Key Metrics Changes - Revenues reached a record $79 million, up 11% from Q3 and 22% year-over-year [4][19] - Non-GAAP operating income was $3.3 million, and adjusted EBITDA was $10.6 million, both exceeding expectations [21] - Non-GAAP gross margin for the quarter was 17.4%, impacted by tool sales [43] Business Line Data and Key Metrics Changes - ATS revenues totaled $67.1 million, up 17% from Q3 and 40% year-over-year, driven by strong demand in aerospace and defense [19][30] - Wafer Services revenues were $12 million, down 17% from Q3 due to softening demand in the industrial sector [5][15] - Tool revenues were nearly $10 million for the quarter, contributing to the overall revenue growth [4][19] Market Data and Key Metrics Changes - Aerospace and defense programs accounted for over 50% of total revenues in 2023, up from 40% in 2022 [30] - The industrial market is experiencing a prolonged inventory correction, impacting customer demand [40][97] Company Strategy and Development Direction - The company is focusing on transforming operations to improve efficiencies and increase outputs from its Bloomington fab [12][36] - Investments in advanced packaging technologies are aimed at establishing a comprehensive facility in the U.S. [33] - The strategy includes transitioning customers from ATS to Wafer Services, which is expected to be more profitable [17][37] Management's Comments on Operating Environment and Future Outlook - Management expects to achieve profitability in the second half of 2024, driven by strong customer-funded CapEx and ATS growth [14][47] - The company anticipates a decline in Wafer Services revenues by at least 50% in 2024 compared to 2023 levels [17][74] - There is confidence in achieving another year of revenue growth, with ATS development revenues expected to grow 10% to 20% [39][74] Other Important Information - The company completed a workforce reduction of approximately 10% to align resources with long-term growth strategy [36][44] - Customer-funded CapEx is expected to reach at least $60 million in 2024, minimizing internal capital requirements [16][75] Q&A Session Summary Question: Can you discuss the ramp into the second half of the year and the gross margin needed for profitability? - Management indicated that a gross margin in the mid- to low 20s could generate positive non-GAAP EPS in 2024, despite headwinds from tool revenues [53][54] Question: When do you expect Wafer Services revenue to bottom out? - Management expects Wafer Services revenue to bottom in the first half of the year, with recovery anticipated in the latter half [56] Question: What prompted the growth in the ATS business? - The growth is attributed to the company's transformation efforts and the acceleration of ATS programs through the development cycle [59] Question: What is the expected mix of revenues from aerospace and defense customers throughout the year? - Aerospace and defense are expected to continue growing, contributing significantly to revenues, while Wafer Services may decline due to market conditions [64][98] Question: What are the expected consulting fees in the upcoming quarters? - Consulting fees were $5.3 million for the quarter, with no expectation of recurring fees in 2024 [100] Question: How will tool sales impact gross margins? - Tool sales are expected to have a neutral or positive impact on gross profit, despite being a drag on gross margins [75][79]

Exhibit 99.1 SkyWater Technology Reports Fourth Quarter and Full Fiscal Year 2023 Results Sixth Straight Quarter of Record Revenue Culminates in 35% Growth Year for Fiscal 2023 BLOOMINGTON, Minn., – February 26, 2024 – SkyWater Technology, Inc. (NASDAQ: SKYT), the trusted technology realization partner, today announced financial results for the fourth quarter and full fiscal year 2023 ended December 31, 2023. Financial Highlights for Q4 2023: Financial Highlights for Fiscal Year 2023: "We are pleased to del ...

Financial Data and Key Metrics Changes - SkyWater reported record quarterly revenues of nearly $72 million for Q3 2023, marking a 3% increase from Q2 and a 37% increase year-over-year [6][46] - Year-to-date total revenues reached $208 million, representing a 40% year-over-year growth [8] - Non-GAAP operating income was $1.2 million, with adjusted EBITDA at $8.3 million [47] - The company ended the quarter with $17.3 million in cash and cash equivalents, a net increase of about $1 million from Q2 [23] Business Line Data and Key Metrics Changes - ATS revenue reached a record $57.1 million, up 8% from Q2 and 62% year-over-year, including $3.2 million from tool sales [46] - Wafer services revenue declined by 14% sequentially due to softening demand in automotive and industrial markets [22][16] - The company expects Q4 tool revenue to increase significantly, potentially reaching $10 million, while wafer services revenue is projected to decline sequentially by 15% to 20% [48][24] Market Data and Key Metrics Changes - The aerospace and defense (A&D) sector has been a significant driver of ATS growth, with over 50% growth attributed to strategic programs [9] - The company anticipates a shift in revenue mix from a 66% ATS and 34% wafer services split in 2022 to an expected 80% ATS for fiscal 2023 [32] Company Strategy and Development Direction - SkyWater aims to develop advanced RadHard and imaging platforms, leveraging unique technology enablement and product realization models [10] - The company is focused on expanding its two existing fabs and establishing a new facility in partnership with Purdue, with customer-funded investments expected to cover over 80% of planned capacity expansion in 2024 [11][26] - The company is transitioning to a CapEx light model, where customers fund tool purchases, reducing financial risk for SkyWater [76][78] Management's Comments on Operating Environment and Future Outlook - Management noted a robust R&D environment despite macroeconomic challenges, with expectations for continued growth in ATS activities [31][34] - The company anticipates a decline in wafer services revenue due to inventory corrections in the automotive and industrial sectors, but expects strong growth in ATS and tool investments to drive overall revenue growth [16][49] - Management expressed confidence in achieving above-industry growth rates in 2024, despite anticipated declines in wafer services [41][88] Other Important Information - The company has changed its non-GAAP financial metrics to include tool revenues and margins, reflecting their increasing importance to the business model [43][45] - Management consulting fees related to long-term transformation activities were incurred, with expectations for these fees to taper off in 2024 [20][105] Q&A Session Summary Question: Outlook for ATS business growth in 2024 - Management remains optimistic about ATS growth, expecting continued program expansion and new programs to drive revenue [53] Question: Duration of inventory digestion in wafer services - Management indicated that the automotive and industrial sectors are experiencing inventory corrections, and the timeline for recovery will depend on the macro environment [66][67] Question: Drivers of increased tool revenue - The shift to a CapEx light model allows customers to invest in tools, securing their supply chains and enabling faster ramp-up of production [76][78] Question: Expected tool revenue in 2024 - Management anticipates potential for higher tool revenue in 2024 than in previous years, with significant contributions expected from government and A&D programs [87][93] Question: Impact of consulting fees on operational efficiency - Management noted that transformation investments are yielding benefits in operational efficiency, with expectations for consulting fees to decrease as internal processes are institutionalized [102][105]

November 8, 2023 Proprietary Q3 2023 Financial Results This presentation and the accompanying oral presentation, including answers to questions, contains "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements that are based on the Company's current expectations or forecasts of future events, rather than past, events and outcomes, and such statements are not guarantees of future performance. Forward-looking statements include all statemen ...

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 1, 2023 ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to ________ Registrant's telephone number, including area code: (952) 851-5200 __________________ ...

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 2, 2023 ¨ 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 ...

Financial Data and Key Metrics Changes - The company reported record Q2 revenues of $69.8 million, which was 6% higher than Q1 and up 47% year-over-year [35][77] - Trailing 12-month revenue reached $253 million, demonstrating a growth of 50% over the prior 12-month period [10] - Adjusted EBITDA for the quarter was $6.5 million, or 9.3% of revenues, with a cash flow generation of $3.2 million after interest expense and CapEx [55][56] Business Line Data and Key Metrics Changes - Wafer Services revenue was $16.8 million, down 6% sequentially and 4% year-over-year, with a non-GAAP gross margin of 24.7% [26] - ATS revenue reached a record $53 million, up 10% from Q1 and 78% compared to Q2 last year [52] - The company is focusing on transitioning several ATS programs to production in 2024, which is expected to enhance productivity and revenue [22] Market Data and Key Metrics Changes - The company is experiencing strong demand in the biohealth and advanced computing markets, with several customers potentially contributing millions in revenue in 2023 [15][42] - The U.S. government's commitment to strategic Rad-Hard investments is seen as a vital component of the company's revenue growth trajectory [39] Company Strategy and Development Direction - The company aims to be a $1 billion pure-play semiconductor technology foundry within a decade, leveraging CHIPS funding to accelerate growth [50] - A focus on operational efficiency and automation is being emphasized to enhance productivity and margins, with expectations of gross margins reaching the high-20s to low-30s by 2024 [49][46] - The company is not pursuing high-volume, low-mix foundry business but is instead focusing on high-value, low-volume technologies [18] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving long-term growth objectives despite macroeconomic challenges in the semiconductor industry [37][23] - The company anticipates continued revenue growth and margin expansion driven by strategic investments and operational improvements [48][19] Other Important Information - The company incurred $5.2 million in additional operating expenses due to management consulting fees, which are expected to impact future earnings positively [28][79] - The company ended the quarter with $16.2 million in cash and cash equivalents, reflecting a positive cash flow generation [30] Q&A Session Summary Question: Cross-selling opportunities with Florida Advanced Packaging operations - Management highlighted strong interest from customers in consolidating supply chains around SkyWater, with multiple cross-site interactions underway [62] Question: Impact of China's policy changes on gallium and germanium supply - Management indicated that they have a handle on supply and do not foresee significant near-term impacts from China's policy changes [63][64] Question: Update on advanced packaging technologies - Management provided updates on three advanced packaging platforms, including Interposer and hybrid wafer bonding technologies, aimed at high-performance computing [66] Question: Efficiency gains and transformation goals - Management discussed ongoing efforts to enhance efficiency and the expected benefits from consulting fees related to business transformation [75] Question: Wafer Services business outlook - Management noted that while Wafer Services has been flat, the demand for ATS services remains high, and they are investing to capture opportunities [109]

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: April 2, 2023 ¨ 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. Regi ...

Financial Data and Key Metrics Changes - The company reported record quarterly revenues of $66.1 million, which is a 2% increase from the previous quarter and a 37% increase year-over-year [36][81]. - Non-GAAP gross margin for Q1 was 25.8%, exceeding expectations, while the previous quarter's gross margin was 26.2% [54][17]. - Adjusted EBITDA for the quarter was $8.1 million, representing 12.3% of revenues [83]. Business Line Data and Key Metrics Changes - Wafer services revenue was $17.8 million, up 3% from Q4 but down 17% from Q1 of the previous year [81]. - ATS revenue reached a record $48.3 million, up 82% compared to Q1 of last year, driven by increased demand in aerospace and defense programs [68]. Market Data and Key Metrics Changes - The automotive and industrial markets continue to show robust performance, offsetting weaknesses in the consumer sector, which constitutes about 20% of overall revenue [89][121]. - The company anticipates continued growth in wafer services driven by improved productivity and additional ATS customers transitioning to production [44]. Company Strategy and Development Direction - The company aims to achieve gross margins in the high 20s to low 30s by the end of 2024, with expectations for 2025 to be a pivotal year for achieving long-term financial goals [50][67]. - The company is focused on expanding its capabilities through strategic government programs and partnerships, particularly in the defense sector [38][64]. Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ability to achieve targeted financial objectives despite macroeconomic challenges in the semiconductor industry [58][51]. - The company is optimistic about the CHIPS Act funding, viewing it as an accelerant for growth, although it does not rely on it to meet long-term goals [80][104]. Other Important Information - The company ended the quarter with $13.8 million in cash and cash equivalents, a decrease from year-end as planned [18]. - Operating expenses on a GAAP basis were $17.6 million, up 15% from Q4, while non-GAAP operating expenses were $16.2 million [25]. Q&A Session Summary Question: What is the updated gross margin range for the rest of the year? - Management indicated a revised gross margin range of high-teens to low 20% for the year, influenced by cost optimization and revenue levels [1][55]. Question: What is the anticipated revenue level to achieve the gross margin target? - Management refrained from providing specific revenue numbers but noted that fixed costs for certain programs would not be fully absorbed until 2025 [5][111]. Question: How is the capacity split between Minnesota and Florida facilities? - The majority of capacity remains in Minnesota, with Florida focused on early-stage development programs [22][8]. Question: What is the outlook for the automotive and industrial markets? - Management reported robust performance in automotive and industrial sectors, compensating for consumer market weaknesses [89][121]. Question: How does the company view the CHIPS Act funding? - Management sees the CHIPS Act as a potential growth accelerant but emphasizes that it is not essential for achieving long-term financial goals [104][105].

Financial Performance - SkyWater achieved record revenues of $66.1 million[4] - ATS (Advanced Technology Services) revenue reached $48.3 million, an 82% increase compared to $26.6 million in Q1 2022[16,44] - Excluding tool sales, ATS revenue increased 87% year-over-year[47] - Wafer Services revenue was $17.8 million, a 17% decrease compared to $21.5 million in Q1 2022, which included an $8 million pull-in due to revised contract terms[16,44] - Non-GAAP gross margin improved significantly to 25.8%, compared to 1.1% in Q1 2022[16,44] - Adjusted EBITDA was $8.1 million, representing 12% of quarterly revenues, a substantial improvement from $(4.8) million in Q1 2022[13,44] Business Highlights and Future Outlook - SkyWater expanded its development agreement with PsiQuantum for silicon photonic chips[9] - The company expresses confidence in securing CHIPS Act funding for expansion in Minnesota and Florida[14] - SkyWater anticipates annual revenue growth approaching its long-term goal of 25% in 2023[51] - Continued progress is being made on the productization and qualification of SkyWater's 90nm RadHard platform, with planned production ramp in 2025[38,50]