SkyWater(SKYT) - 2025 Q1 - Earnings Call Presentation

Financial Performance - SkyWater's Q1 2025 total revenue was $61.3 million[55], a 23% decrease year-over-year[55] - Combined ATS and Wafer Services revenue was $60.1 million[55], a 16% decrease year-over-year[55] - Q1 2025 GAAP gross margin was 23.3%[57], a 700 basis points increase year-over-year[57] - Q1 2025 non-GAAP gross margin was 24.2%[57], a 733 basis points increase year-over-year[57] - Adjusted EBITDA was $4.0 million[59], an 18% decrease year-over-year[59] Revenue Breakdown - ATS development revenue was $52.5 million[55], a 14% decrease year-over-year[55] - Wafer Services revenue was $7.5 million[55], a 25% decrease year-over-year[55] - Tools revenue was $1.2 million[55], an 85% decrease year-over-year[55] Business Outlook - The company maintains its full-year revenue guidance range of 5% growth for combined ATS and Wafer Services[51] - Q2 2025 total revenues are expected to be in the range of $55 to $60 million[51] - The company expects Tools revenue for the full year to be approximately $30 million[66]