Q2 2025 Financial Performance - Total revenue for Q2 2025 was $591 million, a decrease of 37% year-over-year[59] - ATS development revenue in Q2 2025 was $526 million, a 15% decrease year-over-year[59] - Wafer Services revenue in Q2 2025 was $54 million, a 6% decrease year-over-year[59] - Tools revenue in Q2 2025 was $11 million, a 96% decrease year-over-year[59] - GAAP gross margin for Q2 2025 was 185%, a 20 basis points increase year-over-year[62] - Non-GAAP gross margin for Q2 2025 was 195%, a 60 basis points increase year-over-year[62] - Adjusted EBITDA for Q2 2025 was $23 million, a 72% decrease year-over-year[63] Fab 25 Acquisition and Outlook - The acquisition of Infineon's Fab 25 in Austin, TX was completed on June 30, funded by a $350 million credit facility[11] - The final purchase price of Fab 25 was approximately $93 million, including cash payment and working capital adjustment[11] - Fab 25 is expected to approximately double the company's annual revenue and adjusted EBITDA[11] - Q3 2025 Wafer Services revenue from Texas (Fab 25) is forecasted to be $75 million to $80 million[56]
SkyWater(SKYT) - 2025 Q2 - Earnings Call Presentation