Inferra AI / Company / SKYT
SkyWater Technology, Inc
SKYT · Information Technology
Last earnings Feb 25, 2026
Key results
Record revenuefull-year
29%
htm EX-99.1 Document Exhibit 99.1 SkyWater Technology Reports Fourth Quarter and Full Fiscal Year 2025 Results Record revenues and 29% year-over-year growth for fiscal year 2025 reflect acquisition of Fab 25 and strong momentum in quantum computing BLOOMINGTON, Minn.
SEC original ↗SkyWater Technology, Inc — Earnings release (8-K exhibit)EX-99Feb 25, 2026
Revenuequarter
$442.1
SkyWater s record revenues of $442.1 m illion for fiscal 2025 demonstrated strong growth compared to fiscal 2024, driven primarily by the acquisition of Fab 25.
SEC original ↗SkyWater Technology, Inc — Earnings release (8-K exhibit)EX-99Feb 25, 2026
Revenuefull-year
29%
The 29% growth in revenues for the year likewise drove record gross profit, net income to shareholders, and Adjusted EBITDA.
SEC original ↗SkyWater Technology, Inc — Earnings release (8-K exhibit)EX-99Feb 25, 2026
Quantum-related ATS revenuequarter
30%
Quantum-related ATS revenues increased by over 30% in fiscal 2025.
SEC original ↗SkyWater Technology, Inc — Earnings release (8-K exhibit)EX-99Feb 25, 2026
Legacy SkyWater revenuequarter
$82.1 million
Legacy SkyWater revenue of $82.1 million increased 9% compared to the fourth quarter of 2024, and is inclusive of $53.2 million of ATS development revenue, $6.0 million of Wafer Services revenue and $22.9 million of Tools revenue.
SEC original ↗SkyWater Technology, Inc — Earnings release (8-K exhibit)EX-99Feb 25, 2026
Legacy SkyWater ATS development revenue decreased 10% compared to the fourth quarter of 2024.
SEC original ↗SkyWater Technology, Inc — Earnings release (8-K exhibit)EX-99Feb 25, 2026
SkyWater Wafer Services revenuequarter
37%
Legacy SkyWater Wafer Services revenue increased 37% compared to the fourth quarter of 2024.
SEC original ↗SkyWater Technology, Inc — Earnings release (8-K exhibit)EX-99Feb 25, 2026
Legacy SkyWater Tools revenuequarter
95%
Legacy SkyWater Tools revenue increased 95% compared to the fourth quarter of 2024.
SEC original ↗SkyWater Technology, Inc — Earnings release (8-K exhibit)EX-99Feb 25, 2026
Gross marginfull-year
$25,556 thousand
Gross profit 25,556 36,221 19,297 86,932 69,626
SEC original ↗SkyWater Technology, Inc — Earnings release (8-K exhibit)EX-99Feb 25, 2026
Research and developmentfull-year
$3,634 thousand
Research and development expense 3,634 4,370 4,214 14,621 15,040
SEC original ↗SkyWater Technology, Inc — Earnings release (8-K exhibit)EX-99Feb 25, 2026
Selling, general, and administrativefull-year
$21,847 thousand
Selling, general, and administrative expense 21,847 23,997 12,430 74,882 48,026
SEC original ↗SkyWater Technology, Inc — Earnings release (8-K exhibit)EX-99Feb 25, 2026
Net incomefull-year
$(6,626) thousand
Net income (loss) (6,626) 145,152 441 123,451 (2,517)
SEC original ↗SkyWater Technology, Inc — Earnings release (8-K exhibit)EX-99Feb 25, 2026
AI analysis
Q4 FY2025 · reported Feb 25, 2026
Based on: Earnings release + parent 8-K + 10-Q — transcript not held
The quarter in charts
Guidance ladder — revenue
Delivered vs the company's guided range
EX-99 · Feb 25, 2026 Guide as stated by the company; range and midpoint computed from the stated figure.
Headline figures
| Metric | Q4 FY2025 | Prior qtr | Year ago |
|---|---|---|---|
| Revenue | $442.1M | — | — |
| Quantum-related ATS revenue | 30% | — | — |
| Legacy SkyWater revenue | $82.1 million | — | — |
| SkyWater Wafer Services revenue | 37% | — | — |
| Legacy SkyWater Tools revenue | 95% | — | — |
Guidance · company-stated
“(1) $53.2”
“$25.6”
“* 14.9%”
“(loss) to shareholders $(7.8) $(0.7) NM $144.0”
“related to tooling installations in our Florida operations exceeded original program estimates by approximately $9.3 million”
Guidance stated in the release for Q3 2025; figures as stated.
Margin
Capital allocation
Notes to Condensed Consolidated Financial Statements (unaudited in thousands, except share and per share data) SkyWater s ability to execute its operating strategy is dependent on its ability to maintain liquidity and continue to access capital through the Revolver (as defined in Note 7 Debt ), and other sources of financing.
Based upon SkyWater s operational forecasts, cash and cash equivalents on hand, and available borrowings on the Revolver, management believes SkyWater will have sufficient liquidity to fund its operations for the next twelve months from the date these condensed consolidated financial statements are issued.
What changed vs last quarter
- Guide midpoint vs latest-quarter revenue -97.9% computed from stated figures
Event summary
SkyWater Technology Reports Fourth Quarter and Full Fiscal Year 2025 Results Record revenues and 29% year-over-year growth for fiscal year 2025 reflect acquisition of Fab 25 and strong momentum in quantum computing
Based on: Earnings release + parent 8-K + 10-Q — transcript not held
Guidance & outlook
revenue: “revenue (1) $53.2”
Gross profit: “Gross profit $25.6”
Gross margin: “Gross margin * 14.9%”
Net income: “Net income (loss) to shareholders $(7.8) $(0.7) NM $144.0”
revenue: “revenue related to tooling installations in our Florida operations exceeded original program estimates by approximately $9.3 million”
revenue (“Q3 2025”)
“1 Q4 2025 Summary GAAP $ in millions, except per share data Q4 2025 Q4 2024 Y Y * Q3 2025 Q Q * Legacy SkyWater ATS development revenue (1) $53.2 $59.4 (10)% $54.2 (2)% Wafer services revenue $6.0 $4.4 37% $6.2 (4)% Combined ATS development and wafer services revenue * $59.2 $63.8 (7)% $60.4 (2)% Tools r”
Gross profit (“Q3 2025”)
“r Texas Wafer services revenue $89.0 $ NM $86.6 3% Total SkyWater Texas revenue * $89.0 $ NM $86.6 3% Total consolidated revenue * $171.0 $75.5 127% $150.7 13% Gross profit $25.6 $19.3 32% $36.2 (29)% Gross margin * 14.9% 25.6% (42)% 24.0% (38)% Net income (loss) to shareholders $(7.8) $(0.7) NM $144.0 (105)% Basic income (loss) per sha”
Gross margin (“Q3 2025”)
“$86.6 3% Total SkyWater Texas revenue * $89.0 $ NM $86.6 3% Total consolidated revenue * $171.0 $75.5 127% $150.7 13% Gross profit $25.6 $19.3 32% $36.2 (29)% Gross margin * 14.9% 25.6% (42)% 24.0% (38)% Net income (loss) to shareholders $(7.8) $(0.7) NM $144.0 (105)% Basic income (loss) per share $(0.16) $(0.01) NM $2.98 (105)% Diluted”
Net income (“Q3 2025”)
“0 $ NM $86.6 3% Total consolidated revenue * $171.0 $75.5 127% $150.7 13% Gross profit $25.6 $19.3 32% $36.2 (29)% Gross margin * 14.9% 25.6% (42)% 24.0% (38)% Net income (loss) to shareholders $(7.8) $(0.7) NM $144.0 (105)% Basic income (loss) per share $(0.16) $(0.01) NM $2.98 (105)% Diluted income (loss) per share $(0.16) $(0.01) NM $2.95 (105)% Net income (loss) margin t”
revenue (“the fourth quarter of 2025”)
“Cost of revenue related to tooling installations in our Florida operations exceeded original program estimates by approximately $9.3 million as a result of inflation-related cost changes, leading to lower-than-expected gross profit for the fourth quarter of 2025.”
Guidance stated in the release for Q3 2025; figures as stated.
Capital allocation
Notes to Condensed Consolidated Financial Statements (unaudited in thousands, except share and per share data) SkyWater s ability to execute its operating strategy is dependent on its ability to maintain liquidity and continue to access capital through the Revolver (as defined in Note 7 Debt ), and other sources of financing.
SEC original ↗SkyWater Technology, Inc — 10-Q Quarterly report10-QAug 7, 2026
Based upon SkyWater s operational forecasts, cash and cash equivalents on hand, and available borrowings on the Revolver, management believes SkyWater will have sufficient liquidity to fund its operations for the next twelve months from the date these condensed consolidated financial statements are issued.
SEC original ↗SkyWater Technology, Inc — 10-Q Quarterly report10-QAug 7, 2026
The Amended Loan Agreement provides for a revolving line of credit with a borrowing limit of up to $ 350,000 with a scheduled maturity date of June 30, 2030 (the Revolver ).
SEC original ↗SkyWater Technology, Inc — 10-Q Quarterly report10-QAug 7, 2026
Due to a lockbox clause in the Amended Loan Agreement, the outstanding loan balance is required to be serviced with working capital, and the debt is classified as current on the condensed consolidated balance sheets.
SEC original ↗SkyWater Technology, Inc — 10-Q Quarterly report10-QAug 7, 2026
Borrowing under the Revolver is limited by a borrowing base of specified advance rates applicable to billed accounts receivable, unbilled accounts receivable, inventory and equipment, subject to various conditions and limits as provided in the Amended Loan Agreement.
SEC original ↗SkyWater Technology, Inc — 10-Q Quarterly report10-QAug 7, 2026
The VIE financing is not subject to financial debt default covenants.
SEC original ↗SkyWater Technology, Inc — 10-Q Quarterly report10-QAug 7, 2026
Strategy & priorities
Our management uses these non-GAAP financial measures to make informed operating decisions, complete strategic planning, prepare annual budgets, and evaluate Company and management performance.
SEC original ↗SkyWater Technology, Inc — Earnings release (8-K exhibit)EX-99Feb 25, 2026
Our management uses EBITDA, adjusted EBITDA and adjusted EBITDA margin to make informed operating decisions, complete strategic planning, prepare annual budgets, and evaluate Company and management performance.
SEC original ↗SkyWater Technology, Inc — Earnings release (8-K exhibit)EX-99Feb 25, 2026
Notes to Condensed Consolidated Financial Statements (unaudited in thousands, except share and per share data) SkyWater s ability to execute its operating strategy is dependent on its ability to maintain liquidity and continue to access capital through the Revolver (as defined in Note 7 Debt ), and other sources of financing.
SEC original ↗SkyWater Technology, Inc — 10-Q Quarterly report10-QAug 7, 2026
The amendments in this update introduce a more principles-based framework to the capitalization of software intended for internal use focused on management s authorization and commitment to fund a development project and the probability of whether the project will be completed and used for its intended function.
SEC original ↗SkyWater Technology, Inc — 10-Q Quarterly report10-QAug 7, 2026
Risks & headwinds
Forward-looking statements are subject to risks, uncertainties and assumptions, which may cause the Company s actual results, performance or achievements to be materially different from those expressed or implied by such forward-looking statements.
SEC original ↗SkyWater Technology, Inc — Earnings release (8-K exhibit)EX-99Feb 25, 2026
Legal Proceedings 48 Item 1A.
SEC original ↗SkyWater Technology, Inc — 10-Q Quarterly report10-QAug 7, 2026
When used in this Quarterly Report on Form 10-Q, words such as may, expect, anticipate, estimate, intend, plan, target, seek, potential, believe, will, could, should, would, and project or the negative thereof or variations thereon or similar words or expressions that convey the uncertainty of future events or outcomes are generally intended to identify forward-looking statements.
SEC original ↗SkyWater Technology, Inc — 10-Q Quarterly report10-QAug 7, 2026
Our forward-looking statements are subject to a number of risks, uncertainties, and assumptions.
SEC original ↗SkyWater Technology, Inc — 10-Q Quarterly report10-QAug 7, 2026
In light of these risks, uncertainties and assumptions, the forward-looking events and outcomes discussed in this Quarterly Report on Form 10-Q may not occur and our actual results could differ materially and adversely from those expressed or implied in the forward-looking statements.
SEC original ↗SkyWater Technology, Inc — 10-Q Quarterly report10-QAug 7, 2026
Liquidity and Cash Requirements The accompanying interim condensed consolidated financial statements have been prepared on the basis of the realization of assets and the satisfaction of liabilities and commitments in the normal course of business and do not include any adjustments to the recoverability and classifications of recorded assets and liabilities as a result of uncertainties.
SEC original ↗SkyWater Technology, Inc — 10-Q Quarterly report10-QAug 7, 2026
Competitors
Competitors & peers
Same GICS sector — classification peers, not declared competitors
Filings
30 documents- Q2 2026
- 10-QSKYT
- 8-KSKYT
Jul 31, 2026
- 8-KSKYT
Jul 28, 2026
- Q1 2026
- 8-KSKYT
Jun 16, 2026
- 8-KSKYT
- 10-QSKYT
- 8-KSKYT
Apr 24, 2026
- Q4 2025
- 8-KSKYT
Mar 26, 2026
- 10-KSKYT
Mar 11, 2026
- 8-KSKYT
Feb 25, 2026
- 8-KSKYT
Jan 26, 2026
- 8-KSKYT
Jan 26, 2026
- Q3 2025
- 10-QSKYT
Nov 12, 2025
- 8-KSKYT
- Q2 2025
- 8-K/ASKYT
Sep 15, 2025
- 10-QSKYT
- 8-KSKYT
- 8-KSKYT
- Q1 2025
- 8-KSKYT
May 22, 2025
- 10-QSKYT
- 8-KSKYT
- 8-KSKYT
- Q4 2024
- 10-KSKYT
Mar 14, 2025
- 8-KSKYT
Feb 26, 2025
- 8-KSKYT
Feb 26, 2025
- Q3 2024
- 8-KSKYT
Nov 25, 2024
- 8-KSKYT
- 10-QSKYT
- Q2 2024
- 8-KSKYT
Sep 16, 2024
- 10-QSKYT
Earnings releases
7 documentsPresentations
0 documentsNo presentations for SkyWater Technology, Inc are held in this edition of the library.
Transcripts
0 documentsNo transcripts for SkyWater Technology, Inc are held in this edition of the library.
Mentioned by
1 companyOther tracked companies whose held documents mention SkyWater Technology, Inc by name or ticker. A mention is counted once per document, from the document text the library holds.
“cutive cash-based severance, change in… …continued, “We announced an agreement to acquire SkyWater Technology, the world’s leading quantum chip foundry, to create the best capitalized and largest quantum merchant supplier in the world. SkyWater helps”
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