SkyWater Technology reported total revenue of $61.3 million for Q1 2025, a 23% decrease year-over-year. The company achieved a GAAP gross profit of $14.3 million and a net loss of $7.3 million. Non-GAAP diluted EPS was $(0.08).
Total revenue for Q1 2025 was $61.3 million, a 23% decrease compared to Q1 2024.
Wafer Services revenue showed strong sequential growth, driven by demand for the new ThermaView platform.
Advanced Technology Services (ATS) revenue softened due to federal budget delays, despite record revenues in 2024.
GAAP net loss to shareholders was $7.3 million, or $(0.15) per diluted share.
For Q2 2025, SkyWater expects total revenue to be between $55 million and $60 million, with less than $1 million from tools revenue. GAAP diluted net loss per share is projected to be in the range of $(0.20) to $(0.26), and non-GAAP diluted net loss per share in the range of $(0.16) to $(0.22).
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