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

$1.33B

P/E (TTM)

11.2

45.8

Dividend Yield

52W High

$36.27

52W Low

$5.67

52W Range

71%

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 Q3 Earnings Highlights

Key Highlights

Q3 Revenue Jumps 61% Q3 Revenue totaled $150.7M, a 61% increase, while nine-month revenue grew 2% to $271.1M.

Net Income Attributable Soars Net Income attributable to SKYT was $144.0M for Q3 2025, compared to $1.5M in the prior period.

Bargain Purchase Gain Recognized Recognized $110.8M bargain purchase gain from Fab 25 acquisition closing on June 30, 2025.

Asset Base Expands Post-Acquisition Total assets grew to $787.0M by September 28, 2025, reflecting significant post-acquisition balance sheet expansion.

Risk Factors

Increased Leverage Post-Financing Total consolidated debt increased materially to $183.8M following financing for the recent Fab 25 acquisition.

Customer Revenue Concentration Two customers accounted for 75% of Q3 revenue, creating significant concentration risk if lost.

Revenue Accounting Material Weakness Material weakness in revenue accounting controls persists; remediation requires system improvements and validation.

Integration Synergy Uncertainty Realization of anticipated revenue synergies from Fab 25 integration remains uncertain and may be delayed.

Outlook

Sufficient Liquidity Projected Management projects sufficient liquidity for next twelve months using current cash and $65.0M Revolver availability.

Capital Expenditures Planned Anticipate $24.5M in contractual capital expenditures remaining for 2025, funded by cash on hand and operations.

Future Financing Needs Likely Future growth depends on securing additional debt or equity financing, potentially causing stockholder dilution.

Leveraging New Fab Capacity Strategy focuses on expanding advanced compute market share and leveraging new Texas fab capacity for growth.

Peer Comparison

Revenue (TTM)

SCSC

$3.02B

+0.1%

ICHR

$947.65M

+11.6%

IMOS

$774.75M

+41.0%

Gross Margin (Latest Quarter)

YEXT

74.8%

-3.0pp

ITRN

50.5%

+2.2pp

SSYS

46.0%

+0.2pp

Key Metrics

Symbol	Market Cap	P/E (TTM)	ROE (TTM)	Debt to Assets
ICHR	$1.44B	-27.0	-7.7%	19.7%
SKYT	$1.33B	11.2	99.2%	30.4%
IMOS	$1.33B	86.4	2.1%	36.0%

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