SkyWater Technology, Inc. (SkyWater), a semiconductor manufacturer, reported its financial results for the fourth quarter and full fiscal year ended December 31, 2023, on February 26, 2024. The company announced a 22% year-over-year increase in Q4 revenue to a record $79.2 million, although gross margin declined to 15.2% from 25.4% in the same quarter the previous year. The net loss to shareholders widened to $10.3 million, or $(0.22) per share on a GAAP basis. For the full fiscal year, revenue surged 35% to a record $286.7 million, with gross margin improving to 20.7% from 12.2% in the previous year. The annual net loss to shareholders was $30.8 million, or $(0.68) per share on a GAAP basis, an improvement from the prior year's net loss of $39.6 million, or $(0.97) per share. Adjusted EBITDA for the year...Show More

SkyWater Technology, Inc. (SkyWater), a semiconductor manufacturer, reported its financial results for the fourth quarter and full fiscal year ended December 31, 2023, on February 26, 2024. The company announced a 22% year-over-year increase in Q4 revenue to a record $79.2 million, although gross margin declined to 15.2% from 25.4% in the same quarter the previous year. The net loss to shareholders widened to $10.3 million, or $(0.22) per share on a GAAP basis. For the full fiscal year, revenue surged 35% to a record $286.7 million, with gross margin improving to 20.7% from 12.2% in the previous year. The annual net loss to shareholders was $30.8 million, or $(0.68) per share on a GAAP basis, an improvement from the prior year's net loss of $39.6 million, or $(0.97) per share. Adjusted EBITDA for the year stood at $37.2 million, or 13.0% of revenue. The company's president and CEO, Thomas Sonderman, expressed satisfaction with the fiscal year's performance, attributing the growth to strong customer demand for SkyWater's Advanced Technology Services (ATS) business. The company also highlighted significant customer commitments for capital investment and a Department of Defense award of up to $190 million for its Florida operation, aimed at expanding advanced packaging capabilities domestically.