Q3 2025 Financial Performance - SkyWater achieved record Q3 2025 revenues of $150.7 million, exceeding the high end of the guidance range by over $9 million[7] - GAAP gross profit reached $36.2 million with a gross margin of 240%[125] - Adjusted EBITDA was $25.8 million, significantly surpassing forecasts[128] - Net income was $144 million, representing 95.5% of total revenue[128] Q4 2025 Guidance - The company expects Q4 2025 total revenues to be in the range of $155 million to $165 million[55] - SkyWater Texas revenue is projected to be between $84 million and $88 million[55] - Tools revenue is expected to be $17 million to $18 million, with a revised full-year expectation of $23 million to $24 million[55] - Adjusted EBITDA is guided to be in the range of $16 million to $22 million, with an adjusted EBITDA margin between 12.2% and 16.8%[146] Business Highlights and Growth Drivers - SkyWater anticipates strong growth in quantum computing customer revenues, expecting to exceed 30% in 2025[12] - The acquisition of Fab 25 in Texas has led to higher-than-expected revenue and profitability, with SkyWater now operating as two distinct reportable segments[12] - Advanced Packaging revenues are starting to ramp in Florida, with tool installations scheduled for completion in early 2026[12] - The company's acquisition added approximately 400,000 wafer/year capacity to the 200mm U S foundry supply base[29]