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Oct 03, 2021
SkyWater Q3 2021 Earnings Report
SkyWater reported a year-over-year revenue growth of 6%.
Key Takeaways
SkyWater Technology reported a 6% year-over-year increase in revenue to $35.0 million. However, the company experienced a net loss of $13.9 million, which is 40% of the revenue. Supply chain and hiring constraints, along with delays in government program funding, impacted revenue by approximately $15 million for the third and fourth quarters.
Revenue grew 6% year-over-year to $35.0 million.
Net loss to shareholders was $13.9 million, or (40)% of revenue.
Adjusted EBITDA was $(2.7) million, or (7.7)% of revenue.
Wafer Services output increased nearly 60% compared to Q3 2020.
Revenue by Segment
Forward Guidance
SkyWater anticipates long-term growth model of 25% annual top line growth.
Positive Outlook
- Aggressively ramped Advanced Technology Services and Wafer Services businesses.
- Sustainably grew our overall sales pipeline.
- All of these factors give us a strong conviction in our long-term growth model of 25% annual top line growth.
- Made important progress on our Radiation Hardened and Power Management platform qualifications.
- Added eight new Advanced Technology Services customers in the quarter, for a total of 25 in the past twelve months
Challenges Ahead
- Supply chain challenges.
- Hiring constraints.
- Continued delays in the funding of existing United States Government programs.
- Delayed revenue for certain Advanced Technology Services and Wafer Services programs in the amount of approximately $15 million for the third and fourth quarter of 2021.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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