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Dec 31, 2023
SkyWater Q4 2023 Earnings Report
Reported record revenue for the sixth straight quarter, culminating in 35% growth for fiscal year 2023.
Key Takeaways
SkyWater Technology reported a record $79.2 million in revenue for Q4 2023, a 22% increase year-over-year. The company experienced a GAAP net loss of $10.3 million, or $(0.22) per share, and a non-GAAP net loss of $1.1 million, or $(0.02) per share. The revenue growth was driven by strong customer demand for the Advanced Technology Services (ATS) business.
Revenue increased 22% year-over-year to a record $79.2 million.
GAAP gross margin decreased to 15.2%, compared to 25.4% in Q4 2022.
GAAP net loss to shareholders was $10.3 million, or $(0.22) per share.
Adjusted EBITDA was $10.6 million, or 13.4% of revenue.
Revenue by Segment
Forward Guidance
SkyWater anticipates another year of revenue growth in 2024, driven by increased customer investments in production capacity and capabilities and continued robust demand for its ATS business.
Positive Outlook
- Strong customer demand for differentiated Advanced Technology Services (ATS) business.
- Entering a multi-year stage of increased levels of customer investments in production capacity and capabilities.
- Anticipate these investments will enable SkyWater to achieve another year of revenue growth in 2024.
- Continued robust demand for our ATS business demonstrates that our customers’ innovation investments remain strong.
- Secured customer commitments for capital investment over the next several years, supporting continued year-over-year revenue growth ahead.
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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