SkyWater(SKYT) - 2023 Q1 - Earnings Call Presentation

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]