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Oct 01, 2023
SkyWater Q3 2023 Earnings Report
Reported record revenues and a continued year-over-year increase in gross margin.
Key Takeaways
SkyWater Technology reported a strong third quarter with record revenues of $71.6 million, a 37% increase year-over-year. The company's gross margin also improved, reaching 19.8% on a GAAP basis and 20.4% on a non-GAAP basis. Increased demand and strong operational execution in the ATS business drove the outperformance.
Revenue increased 37% year-over-year to a record $71.6 million.
Gross margin increased to 19.8% on a GAAP basis, compared to 15.8% in Q3 2022.
Net loss to shareholders was $7.6 million, or $(0.16) per share on a GAAP basis.
Adjusted EBITDA was $8.3 million, or 11.6% of revenue, compared to $3.8 million in Q3 2022.
Forward Guidance
The company anticipates another year of revenue growth and continued strong financial results ahead for 2024.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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