SkyWater Technology, Inc.

NASDAQ•SKYT

CEO: Mr. Thomas J. Sonderman

Sector: Technology

Industry: Semiconductors

Listing Date: 2021-04-21

SkyWater Technology, Inc., together with its subsidiaries, operates as a pure-play technology foundry that engages in the provision of semiconductor development, manufacturing, and packaging services in the United States. The company offers engineering and process development support services to co-create technologies with customers; and semiconductor manufacturing services for various silicon-based analog and mixed-signal, micro-electromechanical systems, and rad-hard integrated circuits. It serves customers operating in the computation, aerospace and defense, automotive, bio-health, consumer, and industrial sectors. The company was incorporated in 2016 and is headquartered in Bloomington, Minnesota.

Contact Information

2401 East 86th Street, Bloomington, MN, 55425, United States

952-851-5200

www.skywatertechnology.com

Market Cap

$1.60B

P/E (TTM)

13.4

Dividend Yield

52W High

$36.27

52W Low

$6.34

52W Range

89%

Rank65Top 96.0%

1.6

F-Score

Modified Piotroski Analysis

Based on 7-year fundamentals

Weak • 1.6 / 9 points

Scoring Range (0-9)

8-9: Excellent Value

6-7: Strong Fundamentals

4-5: Average Quality

0-3: Weak Performance

Data Period: 2019-2025

Financial Dashboard

Q4 2025 Data

Revenue

$171.04M+0.00%

4-Quarter Trend

EPS

-$0.16+0.00%

4-Quarter Trend

FCF

-$42.07M+0.00%

4-Quarter Trend

2025 Annual Earnings Highlights

Key Highlights

Strong FY2025 Financial Turnaround Net income attributable to SKYT reached $118.910M in FY 2025, reversing prior year's $(6.793)M loss.

Revenue Jumps 29 Percent Total revenue grew to $442.139M in FY 2025, driven by strong performance across segments.

Fab 25 Acquisition Gain Recognized $111.746M bargain purchase gain from Fab 25 acquisition completed June 30, 2025.

SkyWater Texas Segment Launch New SkyWater Texas segment contributed $175.3M in Wafer Services revenue during fiscal year 2025.

Risk Factors

Key Customer Revenue Concentration Revenue heavily dependent on Infineon (43% in FY 2025); loss severely impacts financial results.

Pending IonQ Merger Uncertainty Merger completion subject to stockholder/regulatory approval; pendency causes business disruption risks.

Internal Control Material Weakness Material weakness in revenue accounting process persists as of December 28, 2025, impacting controls.

Foundry Capacity Constraints Risk Limited redundancy in tooling risks revenue loss if production capacity is harmed or constrained.

Outlook

Focus on Domestic Manufacturing Strategy reinforces relevance of U.S.-based foundational-node manufacturing amid supply chain resilience emphasis.

Integrating Fab 25 Operations Significant management attention focused on integrating Fab 25 to achieve anticipated operational benefits.

Liquidity Maintained via Revolver Anticipate sufficient liquidity supported by $350.0M Revolver capacity for ongoing operations and growth.

Future Capital Expenditure Needs Expect $27.2M cash outflow for capital expenditures in 2025, primarily for Minnesota foundry expansion.

Peer Comparison

Revenue (TTM)

SCSC

$3.02B

+0.1%

ICHR

$947.65M

+11.6%

IMOS

$774.75M

+41.0%

Gross Margin (Latest Quarter)

POET

361.6%

-299.1pp

YEXT

73.5%

-3.0pp

ITRN

50.5%

+2.2pp

Key Metrics

Symbol	Market Cap	P/E (TTM)	ROE (TTM)	Debt to Assets
AEHR	$2.64B	-225.5	-8.9%	6.4%
ICHR	$2.28B	-42.9	-7.7%	19.7%
COHU	$1.94B	-26.0	-9.1%	28.9%

Long-Term Trends

Last 4 Quarters

Revenue

Net Income

Operating Cash Flow

4Q Revenue CAGR

40.8%

Strong Growth

4Q Net Income CAGR

N/M

Profitability Shift

Cash Flow Stability

25%

Cash Flow Needs Attention

Deep Research

Next earnings:May 5, 2026

EPS:-

Revenue:-

Financials

Earnings Calls

Reports

News

Income Statement

Balance Sheet

Cash Flow Statement

Ratios

% Chg.

Income Statement	LTM

No Data