Core Viewpoint - SkyWater Technology (SKYT) is expected to report first-quarter 2025 results on May 7, with anticipated revenues between $59 million and $63 million, reflecting a 23.3% year-over-year decline [1][2]. Revenue Expectations - Total revenues for the first quarter are projected to be between $59 million and $63 million, including $1 million from tool revenues and $6 million from Wafer Services revenues [1]. - The Zacks Consensus Estimate for first-quarter 2025 revenues is $61.05 million [1]. Earnings Projections - Non-GAAP earnings are expected to be between 10-16 cents per share for the first quarter of 2025 [1]. - The consensus estimate for the bottom line indicates a loss of 13 cents per share, which is a wider loss compared to the year-ago quarter's loss of 8 cents [2]. Performance Drivers - SkyWater is anticipated to benefit from improved wafer services revenues due to product innovation and strategic conversions from Advanced Technology Services (ATS) to wafer services [3]. - The company is expected to gain from early traction with ThermaView solutions, supported by Raytheon Vision Systems, which positions SkyWater to meet growing demand in defense, industrial, and healthcare markets [4]. - The acquisition of Fab 25 is projected to add $300 million in annual wafer service revenues and significantly enhance domestic manufacturing capacity, contributing to stronger customer confidence and operational gains [5]. Challenges - Uncertainty regarding the U.S. federal government budget and ongoing negotiations may negatively impact SkyWater's performance, particularly affecting ATS revenues [6]. Earnings Model Insights - According to the Zacks model, SkyWater currently has an Earnings ESP of 0.00% and a Zacks Rank of 3 (Hold), indicating a lower likelihood of an earnings beat [7].

Company Overview - Skywater Technology (NASDAQ: SKYT) is a US-based foundry specializing in mature-node chip manufacturing for aerospace, defense, and industrial applications [1] Market Position - The company operates in a strategically important sub-segment of the chip market, highlighting its relevance in critical industries [1] Strategic Focus - The new administration's policies may influence the company's operations and market dynamics, although specific details are not provided [1]

Company Performance - SkyWater Technology, Inc. (SKYT) closed at $6.21, reflecting a +1.8% change from the previous day, outperforming the S&P 500's daily loss of 0.23% [1] - The stock has decreased by 25.97% over the past month, which is worse than the Computer and Technology sector's loss of 16.18% and the S&P 500's loss of 12.13% [1] Earnings Projections - The upcoming earnings disclosure projects an earnings per share (EPS) of -$0.13, indicating a 62.5% decrease from the same quarter last year [2] - Revenue is estimated to be $61.05 million, reflecting a 23.34% decrease compared to the same quarter of the previous year [2] Full Year Estimates - For the full year, the Zacks Consensus Estimates predict an EPS of -$0.07 and revenue of $309.2 million, showing changes of -216.67% and -9.66% from the previous year, respectively [3] - Recent changes to analyst estimates suggest a trend in business performance, with positive revisions indicating analyst optimism regarding the company's profitability [3] Zacks Rank and Industry Performance - SkyWater Technology, Inc. currently holds a Zacks Rank of 1 (Strong Buy), which has historically outperformed with an average annual gain of +25% since 1988 [5] - The Electronics - Semiconductors industry, part of the Computer and Technology sector, has a Zacks Industry Rank of 65, placing it in the top 27% of over 250 industries [6]

Core Viewpoint - SkyWater Technology (SKYT) has experienced significant stock underperformance, losing 37.7% over the past 12 months, compared to the S&P 500's gain of 9.5% and the Zacks Electronics – Semiconductors industry's growth of 0.9% [1][2] Company Performance - The decline in SKYT's stock is linked to negative sentiment in the semiconductor sector, with concerns about the sustainability of the AI trend impacting investor confidence [2] - Wafer Services revenues fell by 56% to $26.9 million in 2024, primarily due to ongoing weakness in the automotive and industrial sectors [2] Strategic Initiatives - To improve its market position, the company is acquiring Infineon's Fab 25, a 200mm chip manufacturing facility in Austin, TX, which is expected to generate approximately $300 million in annual Wafer Services revenues [4] - SkyWater has launched ThermaView Solutions to penetrate the thermal imaging market, aiming for long-term revenue growth in its Wafer Services segment [5] - The product mix in Wafer Services is projected to shift from 90% legacy products and 10% new products in 2024 to 60% new products in 2025 [5] Competitive Landscape - SkyWater competes with major players like Tower Semiconductor, GlobalFoundries, and ON Semiconductor, which have seen stock declines of 3.2%, 32%, and 48.7% respectively over the past year [6] - The company differentiates itself by focusing on specialized, high-value chip production and benefits from being a Department of Defense-accredited foundry, allowing access to government contracts [7] Financial Guidance - For Q1 2025, SKYT anticipates a non-GAAP loss per share between 10-16 cents and revenues between $59-$63 million, reflecting a year-over-year revenue decline of 23.34% [8] Recent Performance - SKYT has outperformed Zacks Consensus Estimates for earnings in three of the last four quarters, with an average surprise of 179.29% [9] Long-term Outlook - Strategic moves like the acquisition of Fab 25 and the launch of ThermaView demonstrate the company's commitment to growth and innovation, positioning it favorably in the evolving semiconductor market [11] - Support from the CHIPS Act and partnerships with companies like Quantum-Si Incorporated and NanoDx further enhance its long-term potential [11] Investment Potential - SKYT holds a Zacks Rank 1 (Strong Buy) and a Growth Score of A, indicating a strong investment opportunity according to Zacks' methodology [12]

Company Performance - SkyWater Technology, Inc. (SKYT) closed at $7.85, reflecting a -0.25% change from the previous day, underperforming the S&P 500 which gained 0.08% [1] - The stock has decreased by 24.25% over the past month, compared to a 12.04% loss in the Computer and Technology sector and a 7.33% loss in the S&P 500 [1] Earnings Forecast - The upcoming earnings report is expected to show an EPS of -$0.13, indicating a 62.5% decline from the same quarter last year [2] - Revenue is projected at $61.05 million, down 23.34% from the prior-year quarter [2] - For the entire fiscal year, earnings are estimated at -$0.07 per share and revenue at $309.2 million, representing declines of -216.67% and -9.66% respectively from the previous year [3] Analyst Estimates - Recent changes in analyst estimates for SkyWater Technology indicate a shifting business landscape, with positive revisions suggesting increased confidence in the company's performance [4] - The Zacks Rank system, which reflects these estimate changes, currently rates SkyWater Technology as 1 (Strong Buy), indicating strong potential for stock performance [6] Industry Context - SkyWater Technology operates within the Electronics - Semiconductors industry, which is part of the Computer and Technology sector [7] - This industry holds a Zacks Industry Rank of 78, placing it in the top 32% of over 250 industries, suggesting a favorable position compared to lower-ranked industries [7]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 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 jurisdiction of incorporation or organization) FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 ...

国芯网[原:中国半导体论坛] 振兴国产半导体产业！ 不拘中国、 放眼世界 ！ 关注 世界半导体论坛 ↓↓↓ 2月28日消息，英飞凌与美国芯片代工企业 SkyWater宣布，双方已达成一项晶圆厂交易。SkyWater 将购 买英飞凌位于美国得克萨斯州奥斯汀的 8 英寸晶圆厂 Fab 25，两家企业还就此后的长期供应签署了协 议。 根据协议条款，SkyWater将接手运营Fab 25晶圆厂，专注于生产对工业、汽车和国防应用至关重要的 130纳米至65纳米基础芯片。此次收购不仅将大幅扩大SkyWater作为代工厂的规模，还将带来额外的功 能，包括65纳米基础设施、扩大的铜处理规模和高压双极-CMOS-DMOS（BCD）技术等。 长期供应协议确保了英飞凌在美国保持强大、高效且可扩展的制造足迹。这一合作将使SkyWater能够利 用Fab 25的成熟专业知识和生产能力，提升美国基础芯片的可用产能，支持关键行业的双重采购战略。 SkyWater首席执行官Thomas Sonderman表示："这一里程碑式的交易将显著增强我们在美国的晶圆代工 产能，预计还将增强基础芯片的供应链弹性，加强国家和经济安全。通过利用奥斯汀团队的 ...

Financial Data and Key Metrics Changes - Total revenue for Q4 2024 reached $75 million, exceeding guidance, with tools revenue of $12 million and combined ATS and Wafer Services revenue of $64 million [11][38] - Full year revenues totaled a record $342 million, up 19% from fiscal 2023 [12] - Reported gross margin for Q4 was nearly 27%, contributing to a positive EPS of $0.04 for the quarter and $0.06 for the full year [12][45] - Full year gross margin was 21%, down from 22% in 2023, primarily due to tools revenue impacting margins [42] Business Line Data and Key Metrics Changes - ATS business experienced a strong 13% revenue growth compared to 2023, while Wafer Services revenue declined significantly due to weakness in automotive and industrial segments [13] - Advanced compute was the second largest end market in 2024, with over 90% of revenues related to quantum computing technologies [14] - Tools revenue reached a record $77 million in 2024, reflecting unprecedented customer-funded CapEx investments [15] Market Data and Key Metrics Changes - The aerospace and defense sector showed significant strength in 2024, driving the majority of ATS revenue growth [13] - The automotive market saw a decline in revenue, while the BioHealth sector experienced growth [14] Company Strategy and Development Direction - The company announced the acquisition of Infineon's Fab 25 in Austin, aiming to expand domestic manufacturing capabilities and become a leading pure-play domestic foundry service provider by the end of the decade [8][9] - The acquisition is expected to contribute approximately $300 million in annual Wafer Services revenue and strengthen the company's financial foundation [29][32] - The transition of Fab 25 to a customer-driven foundry model is anticipated to enhance service offerings and align with long-term industry trends [34] Management's Comments on Operating Environment and Future Outlook - Management expressed a conservative outlook for 2025 due to ongoing budget negotiations and expected timing of program allocations, forecasting combined ATS and Wafer Services revenue growth of approximately 5% [25][101] - The company expects a significant rebound in ATS revenues in Q2 2025, with continued sequential growth anticipated in Q3 and Q4 [27][49] - Management highlighted the importance of the CHIPS Act funding as an accelerant for growth plans [16] Other Important Information - The company plans to hold a Capital Markets Day post-acquisition to provide more details on the financial benefits and long-term strategic vision for Fab 25 [37] - The acquisition is expected to double the workforce in the U.S. across three strategic manufacturing centers: Minnesota, Florida, and Texas [32] Q&A Session Summary Question: Clarification on Fab 25's gross profit contribution - Management confirmed that the initial supply agreement with Infineon will provide the output they currently receive, with plans to diversify over time [62][63] Question: Customer revenue profile post-acquisition - Infineon is expected to become the largest customer, with a secured supply agreement allowing for diversification and growth [64][65] Question: Back-end processing for Fab 25 - Currently, Infineon uses traditional OSATs for back-end assembly, but there are opportunities for the Florida fab to contribute in the future [66][68] Question: Quantum computing revenue percentage - Quantum computing accounted for about 10% of revenues in Q4 2024 [70] Question: Product applications for Fab 25 - The fab will support various applications, including ASICs, PMICs, and NOR flash, with a focus on 65-nanometer technology [75][76] Question: Wafer services revenue outlook - Management anticipates wafer services revenue will return to growth, with a mix shifting towards new products [20][80] Question: Supply agreement details - The supply agreement includes parameters like take-or-pay, with plans to run the fab at full utilization for Infineon [89][90] Question: Gross margin sustainability - The strong gross margin in Q4 was driven by a combination of ATS business mix and cost deferrals, but similar levels are not expected to repeat [92][93]

Financial Data and Key Metrics Changes - Total revenue for Q4 2024 reached $75 million, exceeding guidance, with tools revenue of $12 million and combined ATS and Wafer Services revenue of $64 million [11][38] - Full year revenues totaled a record $342 million, up 19% from fiscal 2023 [12] - Reported gross margin for Q4 was nearly 27%, contributing to a positive EPS of $0.04 for the quarter and $0.06 for the full year [12][45] - Full year gross margin was 21%, compared to 22% in 2023, with combined ATS and Wafer Services gross margin increasing from 22.5% in 2023 to 25.8% in 2024 [42][43] Business Line Data and Key Metrics Changes - ATS business experienced a strong 13% revenue growth compared to 2023, while Wafer Services revenue declined significantly due to weakness in automotive and industrial segments [13] - Advanced compute was the second largest end market, with over 90% of revenues related to quantum computing technologies [14] - Tools revenue reached a record $77 million in 2024, reflecting unprecedented customer-funded CapEx investments [15] Market Data and Key Metrics Changes - The aerospace and defense sector showed significant strength in 2024, driving the majority of ATS revenue growth [13] - The automotive market saw a decline in revenue, while the BioHealth sector experienced growth [14] Company Strategy and Development Direction - The acquisition of Infineon's Fab 25 in Austin is a strategic move to expand domestic manufacturing capabilities and become a leading pure-play domestic foundry service provider for foundational semiconductors [8][9] - The acquisition is expected to contribute approximately $300 million in annual Wafer Services revenue and balance the revenue mix between ATS and Wafer Services [29][32] - The company aims to transition Fab 25 to a customer-driven foundry model, enhancing service offerings and expanding the total addressable market by over $3 billion [32][34] Management's Comments on Operating Environment and Future Outlook - Management expressed a conservative outlook for 2025 due to ongoing budget negotiations and expected timing of program allocations, forecasting combined ATS and Wafer Services revenue growth of approximately 5% [25][101] - The company anticipates a significant rebound in ATS revenues in Q2 2025, with continued growth expected in the second half of the year [26][49] - Management highlighted the importance of the CHIPS Act funding as an accelerant for growth plans [16] Other Important Information - The company plans to hold a Capital Markets Day post-acquisition to provide more details on the financial benefits and long-term strategic vision for Fab 25 [37] - The acquisition structure is capital efficient, with an $80 million purchase price and a strong adjusted EBITDA expected from the transaction [30][31] Q&A Session Summary Question: Clarification on Fab 25's gross profit contribution - Management confirmed that the initial supply agreement with Infineon is to provide products at current output levels, with plans to diversify over time [62][63] Question: Customer revenue profile post-acquisition - Infineon is expected to become the largest customer, enhancing the strategic partnership [64][65] Question: Back-end processing for Fab 25 - Currently done with traditional OSATs, but opportunities exist for future capabilities in Florida [66][68] Question: Quantum computing revenue percentage - Quantum computing accounted for about 10% of revenues in Q4 2024 [70] Question: Mix between ATS and Wafer Services in the future - Management expects a more balanced mix, with wafer services likely to increase due to the Fab 25 acquisition [78][82] Question: Supply agreement details and capacity fungibility - The supply agreement includes take-or-pay contracts, and there is potential to backfill capacity if needed [88][90] Question: Gross margin sustainability - The strong gross margin in Q4 was driven by a combination of ATS business mix and cost deferrals, but not expected to repeat at the same levels [92][93] Question: Yearly outlook adjustments based on defense budgets - Management is taking a conservative approach due to uncertainties in budget allocations, but remains confident in the critical programs [101] Question: Efficiencies and excess capacity from Fab 25 - Transitioning from IDM to foundry is expected to drive efficiencies and allow for new customer engagements [105]

SkyWater Technology, Inc. (SKYT) came out with quarterly earnings of $0.04 per share, beating the Zacks Consensus Estimate of a loss of $0.07 per share. This compares to loss of $0.02 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 157.14%. A quarter ago, it was expected that this company would post a loss of $0.02 per share when it actually produced earnings of $0.08, delivering a surprise of 500%.Over the last four quarters, ...