Press Releases

SkyWater Foundation Grants $100,000 in Scholarships to Support Students Pursuing Higher Education and Technical Skills for Success in US Workforce

By Rocket55 |

BLOOMINGTON, Minn. – July 23, 2024 – SkyWater Technology (NASDAQ: SKYT), the trusted technology realization partner, is pleased to announce the selection of 10 recipients by Scholarship America to receive $10,000 each through the second annual SkyWater Foundation Scholarship Program. While the application process welcomed students from all fields, an emphasis in STEM (science, technology, engineering, and mathematics) was encouraged. Currently, there exists a gap in the talent required for the semiconductor industry. Workforce development is critical in producing the highly skilled personnel needed to address the industry’s evolving needs and technological breakthroughs.

Eligible applicants included high school graduates or current college undergraduates planning to enroll full-time at an accredited two- or four-year college, university or vocational-technical school for the entire 2024-2025 academic year, with a minimum GPA of 3.0 on a 4.0 scale (or its equivalent). Selection criteria considered academic performance, leadership, extracurricular activities and a statement of educational and career goals. Due to an overwhelming response last year, Scholarship America capped applications at the first 1,000 received.

The SkyWater Foundation Scholarship Program is made possible through the generosity of the Oxbow Foundation and SkyWater Technology, Inc. According to SkyWater’s Senior Vice President of Human Resources Laura Lorenz, “SkyWater is very pleased to partner with the Oxbow Foundation to offer these scholarships. Investing in higher education and helping students develop technical skills is essential for strengthening the U.S. workforce.”

The 10 recipients are pursuing degrees at institutions ranging from Columbia to MIT and Purdue, among others and include majors such as engineering physics, aerospace engineering and computer science.

Oxbow Foundation Director Elise Unterseher said, “The Foundation takes pride in advancing STEM education and cultivating future leaders in the semiconductor industry through our scholarship program. By making education more accessible, we align with our commitment to fostering learning. These scholarships empower students to pursue higher education, unlocking their potential for greater earning and success in their future careers.”

According to one of the recipients, Emerald W., “This scholarship will allow me to begin my freshman year 100% focused on the rigorous academic schedule needed for my major, aerospace engineering, which I will be pursuing at Purdue’s Honors College this fall. It will enable me to adjust to college life without having to worry about working full-time to financially support my college education.”

Another recipient, William S. who is studying computer engineering at George Mason University, commented, “This scholarship is helping me face the biggest obstacle I have in my college career: the financial one. I’m a first-generation student who lives on campus at a university in which I pay out-of-state tuition, so organizations like SkyWater make it possible for individuals like me to work toward their dreams without getting stuck on the journey.”

Added Oxbow Foundation Director Julia Unterseher, “We are proud that there have been 20 recipients of this scholarship over two years, and we are pleased to see our program empower students in their academic and professional pursuits. We are also excited to support those who are pioneering higher education within their families, and we take pride in fostering their success.”

About SkyWater Foundation’s Annual Scholarship Program
The Oxbow Foundation and SkyWater Technology, Inc. in partnership have established the SkyWater Foundation Fund, Inc. to offer a college scholarship program. Annually, The Oxbow Foundation expects to contribute up to $100,000 to the program for up to 10 students. The maximum annual award provided to any recipient is $10,000. The SkyWater Foundation has selected Scholarship America, a non-profit organization, to manage and administer the scholarship program.

The SkyWater Foundation Scholarship Program may be cancelled or terminated at the discretion of the Oxbow Foundation and/or the Board of Directors of SkyWater Technology, Inc. at any time.

About SkyWater Technology
SkyWater (NASDAQ: SKYT) is a U.S.-based semiconductor manufacturer and a DMEA-accredited Category 1A Trusted Supplier. SkyWater’s Technology as a Service model streamlines the path to production for customers with development services, volume production and heterogeneous integration solutions in its U.S. facilities. This pioneering model enables innovators to co-create the next wave of technology within diverse categories including mixed-signal CMOS, ROICs, rad-hard ICs, MEMS, superconducting ICs, photonics and advanced packaging. SkyWater serves the growing markets of aerospace & defense, automotive, biomedical, industrial and quantum computing. For more information, visit www.skywatertechnology.com/.

SkyWater Technology Forward-Looking Statements
This press release contains “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements that are based on the Company’s current expectations or forecasts of future events, rather than past events and outcomes, and such statements are not guarantees of future performance. 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. Key factors that could cause the Company’s actual results to be different than expected or anticipated include, but are not limited to, factors discussed in the “Risk Factors” section of its annual report on Form 10-K and quarterly reports on Form 10-Q, and in other documents that the Company files with the SEC, which are available at http://www.sec.gov. The Company assumes no obligation to update any forward-looking statements, which speak only as of the date of this press release.

SkyWater Company Contact: Tara Luther | 952.851.5023 | tara.luther@skywatertechnology.com
SkyWater Media Contact: Lauri Julian | 949.280.5602 | lauri.julian@skywatertechnology.com

SkyWater Technology to Announce Second Quarter Financial Results on August 7, 2024

By Rocket55 |

BLOOMINGTON, Minn. – July 10, 2024 – SkyWater Technology (NASDAQ: SKYT), the trusted technology realization partner, today announced that it will report its fiscal second quarter 2024 financial results following the close of the market on Wednesday, August 7, 2024. The same afternoon, management will host a webcast to discuss its business and financial results.

SkyWater Technology Second Quarter 2024 Earnings Webcast
When: Wednesday, August 7, 2024
Time: 3:30 p.m. CDT (4:30 p.m. EDT)
Live Webcast: available at https://ir.skywatertechnology.com or directly at https://events.q4inc.com/attendee/198461545.

An archived webcast will be available on SkyWater Technology’s Investor Relations page: https://ir.skywatertechnology.com.

About SkyWater Technology

SkyWater (NASDAQ: SKYT) is a U.S.-based semiconductor manufacturer and a DMEA-accredited Category 1A Trusted Supplier. SkyWater’s Technology as a Service model streamlines the path to production for customers with development services, volume production and heterogeneous integration solutions in its U.S. facilities. This pioneering model enables innovators to co-create the next wave of technology within diverse categories including mixed-signal CMOS, ROICs, rad-hard ICs, MEMS, superconducting ICs, photonics and advanced packaging. SkyWater serves the growing markets of aerospace & defense, automotive, biomedical, industrial and quantum computing. For more information, visit: www.skywatertechnology.com.

SkyWater Investor Contact: Claire McAdams  | claire@headgatepartners.com
SkyWater Media Contact: Lauri Julian | media@skywatertechnology.com

SkyWater Announces Participation in 16th Annual CEO Investor Summit

By Rocket55 |

BLOOMINGTON, Minn. – June 17, 2024 – SkyWater Technology (NASDAQ: SKYT)), the trusted technology realization partner, today announced management’s participation in the 16th Annual CEO Investor Summit, being held Wednesday, July 10th at the St. Regis San Francisco.

The investor presentation material utilized during the CEO Summit will be made available on the company’s investor relations website: https://ir.skywatertechnology.com.

About the 16th Annual CEO Investor Summit 2024

The CEO Investor Summit is collectively hosted and funded by participating companies and features a “round-robin” format consisting of small group meetings with company management teams. During the event, investors and analysts will have the opportunity to meet with the majority of the 13 management teams during the small group meeting sessions, as well as opportunities to meet with management during the breakfast and lunch networking sessions.

The 13 management teams collectively hosting the 16th Annual CEO Investor Summit 2024 include: ACM Research (ACMR), Aehr Test Systems (AEHR), Alpha & Omega Semiconductor (AOSL), Axcelis (ACLS), Bitdeer Technologies (BTDR), Camtek (CAMT), Cohu, Inc. (COHU), FormFactor (FORM), Ichor Systems (ICHR), Kulicke & Soffa (KLIC), nLIGHT, Inc. (LASR), Peraso, Inc. (PRSO), and SkyWater Technology (SKYT). Jefferies, Stifel, and TD Cowen, a division of TD Securities, are sponsors of the conference.

Attendance at the CEO Investor Summit is by invitation only and is available solely to accredited investors and publishing research analysts. As space is limited, please RSVP early. Hosts reserve the right to limit attendance as necessary. Last day for registration is June 28, 2024.

RSVP Contacts for 16th Annual CEO Investor Summit 2024

To RSVP for the CEO Investor Summit, please contact either of the event co-chairs.

Laura J. Guerrant-Oiye
Phone: (808) 960-2642
Email: lauraoiye@gmail.com

Claire E. McAdams
Phone: (530) 265-9899
Email: claire@headgatepartners.com

About SkyWater Technology
SkyWater (NASDAQ: SKYT) is a U.S.-based semiconductor manufacturer and a DMEA-accredited Category 1A Trusted Supplier. SkyWater’s Technology as a Service model streamlines the path to production for customers with development services, volume production and heterogeneous integration solutions in its U.S. facilities. This pioneering model enables innovators to co-create the next wave of technology within diverse categories including mixed-signal CMOS, ROICs, rad-hard ICs, MEMS, superconducting ICs, photonics and advanced packaging. SkyWater serves the growing markets of aerospace & defense, automotive, biomedical, industrial and quantum computing. For more information, visit: www.skywatertechnology.com

SkyWater Investor Contact: Claire McAdams | claire@headgatepartners.com
SkyWater Media Contact: Lauri Julian | media@skywatertechnology.com

SkyWater Florida Achieves DMEA Category 1A Trusted Supplier Accreditation

By Rocket55 |

KISSIMMEE, Fla. – May 14, 2024 – SkyWater Technology (NASDAQ: SKYT), the trusted technology realization partner, today announced that its advanced packaging operation in Florida has been accredited as a Category 1A Trusted Supplier by the Defense Microelectronics Activity (DMEA) of the U.S. Department of Defense (DOD). This prestigious designation furthers SkyWater’s dedication to delivering trusted and secure microelectronics manufacturing for critical defense applications. The facility SkyWater owns and operates in Minnesota originally achieved DMEA Category 1A Trusted status in 2010 and was re-accredited when SkyWater was founded in 2017.

DMEA Category 1A Trusted Supplier accreditation represents the highest level of trust and reliability in semiconductor manufacturing and demonstrates SkyWater’s unwavering commitment to meeting stringent security standards for the nation’s defense-related applications. Trust is established through rigorous evaluations of the integrity of both the personnel and procedures they employ in the design, fabrication and distribution of critical national security components. With this accreditation, 100% of SkyWater’s operations are Trusted, which underscores the company’s prominent position in the aerospace and defense industry and is part of its strategy to continue building a domestic semiconductor ecosystem.

“SkyWater’s standing as a Trusted Supplier is not only essential for those customers who require it; our security posture benefits other government and commercial customers as well,” said SkyWater CEO Thomas Sonderman. “With very little advanced packaging taking place in the U.S., this poses national security and economic risks. By reshoring this critical step, we can assure the integrity, quality and confidentiality of the design and manufacturing of microelectronics systems that are vital to our national defense.”

In January, SkyWater Florida announced the kick-off of a significant new DOD effort to expand domestic fan-out wafer level packaging capabilities. This initiative, facilitated by a five-year DOD contract valued up to $190 million, was awarded to Osceola County and SkyWater to fund the facilitization, tooling and build-out of the Florida facility. Achieving Trust accreditation currently goes beyond the program’s development requirements and further demonstrates SkyWater’s commitment to best serving the needs of the DOD.

Dr. Nicholas Martin, DMEA Director, said: “The accreditation of SkyWater’s Florida site extends our partnership, reinforcing and bolstering our domestic microelectronics manufacturing capacity. The Trusted Supplier accreditation remains a cornerstone in semiconductor assurance, guaranteeing the DOD assured access to a variety of securely manufactured chips essential in fortifying our defense systems. This new facility accreditation expands the Trusted domestic supplier base for DOD programs requiring access to secure packaging.”

About SkyWater Technology
SkyWater (NASDAQ: SKYT) is a U.S.-based semiconductor manufacturer and a DMEA-accredited Category 1A Trusted Foundry. SkyWater’s Technology as a Service model streamlines the path to production for customers with development services, volume production and heterogeneous integration solutions in its world-class U.S. facilities. This pioneering model enables innovators to co-create the next wave of technology with diverse categories including mixed-signal CMOS, ROICs, rad-hard ICs, power management, MEMS, superconducting ICs, photonics, carbon nanotubes and interposers. SkyWater serves growing markets including aerospace & defense, automotive, biomedical, cloud & computing, consumer, industrial and IoT. For more information, visit www.skywatertechnology.com/.

SkyWater Technology Forward-Looking Statements
This press release contains “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements that are based on the Company’s current expectations or forecasts of future events, rather than past events and outcomes, and such statements are not guarantees of future performance. 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. Key factors that could cause the Company’s actual results to be different than expected or anticipated include, but are not limited to, factors discussed in the “Risk Factors” section of its annual report on Form 10-K and quarterly reports on Form 10-Q, and in other documents that the Company files with the SEC, which are available at http://www.sec.gov. The Company assumes no obligation to update any forward-looking statements, which speak only as of the date of this press release.

SkyWater Company Contact: Tara Luther | 952.851.5023 | tara.luther@skywatertechnology.com
SkyWater Media Contact: Lauri Julian | 949.280.5602 | lauri.julian@skywatertechnology.com

SkyWater Technology Reports First Quarter 2024 Results

By Rocket55 |

Seventh Straight Quarter of Record Revenue and 20% Growth Year-Over-Year

BLOOMINGTON, Minn. – May 8, 2024 – SkyWater Technology (NASDAQ: SKYT), the trusted technology realization partner, today announced financial results for the first quarter 2024 ended March 31, 2024.

Financial Highlights for Q1 2024:

  • Revenue increased 20% year-over-year to a record $79.6 million.
  • Gross margin decreased to 16.3% on a GAAP basis, compared to 24.9% in Q1 2023, and decreased to 16.9% on a non-GAAP basis, compared to 25.7% in Q1 2023.
  • Net loss to shareholders of $5.7 million, or $0.12 per share on a GAAP basis, and net loss to shareholders of $3.7 million, or $0.08 per share on a non-GAAP basis, compared to net loss to shareholders of $4.3 million, or $0.10 per share on a GAAP basis, and net loss to shareholders of $2.4 million, or $0.06 per share on a non-GAAP basis in Q1 2023.
  • Adjusted EBITDA of $4.9 million, or 6.2% of revenue, compared to $8.1 million, or 12.3% of revenue in Q1 2023.
  • View the results on SkyWater Technology’s Investor Relations page: https://ir.skywatertechnology.com

SkyWater Investor Contact: Claire McAdams | claire@headgatepartners.com
SkyWater Media Contact: Lauri Julian | media@skywatertechnology.com

SkyWater and Lumotive Announce Qualification and Production Start for World’s First Commercially Available Optical Beamforming Chip

By Rocket55 |

BLOOMINGTON, Minn. and REDMOND, Wash. – May 1, 2024 – SkyWater Technology (NASDAQ: SKYT), the trusted technology realization partner, and Lumotive, ​a pioneer in optical semiconductor technology for 3D sensing, ​announced today that the companies have collaborated on the production implementation of Lumotive’s groundbreaking solid-state optical beamforming technology in SkyWater’s manufacturing environment. Fully qualified and released for volume production​ utilizing SkyWater’s unique Technology as a Service (TaaS) model​, Lumotive’s product represents the first ever programmable optical metasurface that has been commercialized into a mass-producible chip.

Optical beamforming is a critical technology used in a range of applications, from laser communications and LiDAR (Light Detection and Ranging) to imaging and remote sensing. Lumotive’s Light Control Metasurface (LCM™) technology defies the laws of physics by manipulating light at the subwavelength level using nanostructures fabricated onto the surface of a silicon chip. Beams of light can be shaped, split and steered electronically with digital precision and repeatability. This marks a dramatic transformation over traditional mechanical methods, and enables significant system-level advantages in compactness, durability, speed, precision, power consumption, reliability, design flexibility and scalability for the next generation of industrial sensors, robotics, autonomous vehicles and other applications that rely on accurate 3D sensing.

In less than two years, Lumotive and SkyWater collaborated on the development and release of a custom photonics process to create LM10, Lumotive’s first LCM product offering. This new process has been qualified in SkyWater’s production environment and establishes the first commercially available chip-scale beam steering solution for solid-state LIDAR. LM10 is already shipping worldwide as the beam steering solution inside lead customers’ qualified 3D sensors.

The arrival of programmable LCM-powered beam steering with dynamic scanning and software-definable capabilities enables solid-state LIDAR to become the new standard for precise and adaptable interaction with the physical world in real time. According to Lumotive Founder and CTO Dr. Gleb Akselrod, “The capability to shape and steer light with a single chip is already ​​revolutionizing applications such as 3D sensing, with many more on the horizon.”

Dr. Akselrod continued: “Achieving our full LM10 LCM chip qualification in SkyWater’s production process marks a watershed moment in the field of optical metamaterials. The ability to produce compact, adaptive programmable optics using well-established and scalable silicon fabrication techniques will forever change a wide range of industries, from 3D sensing to optical communications to AR/VR displays. We are proud to have made this a reality together with SkyWater.”

“We are pleased to have reached this milestone with Lumotive in support of their design and production goals,” said Ross Miller, SkyWater’s SVP of Commercial and Aerospace & Defense Business. “This is another example of how we are helping enable our customers’ differentiated and disruptive technologies with unique process development and integration capabilities. Lumotive is bringing a new and exciting innovation to the field of solid-state LIDAR, enabling significantly smaller devices with lower power consumption and reduced system cost.”

For more details on Lumotive’s LM10 LCM chip, please visit: https://lumotive.com/lm10.

About Lumotive
Lumotive’s award-winning optical semiconductor solutions enable advanced sensing and perception capabilities in next-generation consumer, mobility, and industrial automation products such as mobile devices, autonomous vehicles, and robots. The company’s patented Light Control Metasurface (LCM™) beam steering chips deliver an unparalleled combination of high performance, exceptional reliability, and low cost — all in a tiny, easily integrated solution. Lumotive has received measurable industry acclaim including Fierce Electronics’ 2021 Startup of the Year award, CES Innovation Awards in 2022 and 2024, Fast Company’s Next Big Thing in Tech 2023, a 2022 SPIE PRISM Award, and a prestigious Edison Award. Investors include Gates Frontier, MetaVC Partners, Quan Funds, Samsung Ventures, and Uniquest.

About SkyWater Technology
SkyWater (NASDAQ: SKYT) is a U.S.-based semiconductor manufacturer and a DMEA-accredited Category 1A Trusted Foundry. SkyWater’s Technology as a Service model streamlines the path to production for customers with development services, volume production and heterogeneous integration solutions in its world-class U.S. facilities. This pioneering model enables innovators to co-create the next wave of technology with diverse categories including mixed-signal CMOS, ROICs, rad-hard ICs, power management, MEMS, superconducting ICs, photonics, carbon nanotubes and interposers. SkyWater serves growing markets including aerospace & defense, automotive, biomedical, cloud & computing, consumer, industrial and IoT. For more information, visit www.skywatertechnology.com/.

SkyWater Technology Forward-Looking Statements
This press release contains “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements that are based on the Company’s current expectations or forecasts of future events, rather than past events and outcomes, and such statements are not guarantees of future performance. 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. Key factors that could cause the Company’s actual results to be different than expected or anticipated include, but are not limited to, factors discussed in the “Risk Factors” section of its annual report on Form 10-K and quarterly reports on Form 10-Q, and in other documents that the Company files with the SEC, which are available at http://www.sec.gov. The Company assumes no obligation to update any forward-looking statements, which speak only as of the date of this press release.

Lumotive Company Contact: Kevin Camera | kevin.camera@lumotive.com 
Lumotive Media Contact: Ran Xu | ran@rosebudpr.io
SkyWater Company Contact: Tara Luther | 952.851.5023 | tara.luther@skywatertechnology.com
SkyWater Media Contact: Lauri Julian | 949.280.5602 | lauri.julian@skywatertechnology.com

SkyWater Technology to Announce First Quarter Financial Results on May 8th, 2024

By Rocket55 |

BLOOMINGTON, Minn. – April 17, 2024 – SkyWater Technology (NASDAQ: SKYT), the trusted technology realization partner, today announced that it intends to report fiscal first quarter 2024 financial results following the close of the market on Wednesday, May 8, 2024. The same afternoon, management will host a webcast to discuss its business and financial results.

SkyWater Technology Fiscal First Quarter 2024 Earnings Webcast
When: Wednesday, May 8, 2024
Time: 3:30 p.m. CDT (4:30 p.m. EDT)
Live Webcast: available at https://ir.skywatertechnology.com or directly at https://events.q4inc.com/attendee/724642168.

An archived webcast will be available on SkyWater Technology’s Investor Relations page: https://ir.skywatertechnology.com.

About SkyWater Technology

SkyWater (NASDAQ: SKYT) is a U.S.-based semiconductor manufacturer and a DMEA-accredited Category 1A Trusted Foundry. SkyWater’s Technology as a Service model streamlines the path to production for customers with development services, volume production and heterogeneous integration solutions in its world-class U.S. facilities. This pioneering model enables innovators to co-create the next wave of technology with diverse categories including mixed-signal CMOS, ROICs, rad-hard ICs, power management, MEMS, superconducting ICs, photonics, carbon nanotubes and interposers. SkyWater serves growing markets including aerospace & defense, automotive, biomedical, cloud & computing, consumer, industrial and IoT. For more information, visit www.skywatertechnology.com/.

SkyWater Investor Contact: Claire McAdams  | claire@headgatepartners.com
SkyWater Media Contact: Lauri Julian | media@skywatertechnology.com

SkyWater Expands Board of Directors with Appointment of Dennis Goetz and Joseph Humke

By Rocket55 |

New board members bring decades of finance and legal expertise to bolster SkyWater’s strategic growth initiatives

BLOOMINGTON, Minn. – March 8, 2024 – SkyWater Technology (NASDAQ: SKYT), the trusted technology realization partner, today announced the appointment of two accomplished professionals to its board of directors: Dennis Goetz and Joseph Humke, effective April 1, 2024. Both individuals bring valuable expertise and experience that will significantly contribute to the strategic direction and growth trajectory of the company. Mr. Goetz will serve on the Board’s Audit Committee and Mr. Humke will serve on the Nominating and Corporate Governance Committee.

Dennis Goetz

Mr. Goetz joins the Board with extensive finance experience as a versatile leader and trusted business advisor with a history of driving profitable growth and sustainable value creation. He has served in several roles as CFO, including his current position with Pohlad Companies, a private holding company with diverse investments, since April 2020. He previously served as the founder and principal of Boyd Consulting Group, LLC, providing services in the areas of M&A, financial leadership, accountancy and strategic planning. Prior to this, he served as CFO for United Sports Brands and as CFO and chief accounting officer of Buca, Inc. Mr. Goetz received a BBA in finance and accounting from the University of Wisconsin Eau Claire, an MBA in finance and strategic management from the University of Minnesota’s Carlson School of Business and he is a Certified Management Accountant.

Joseph Humke

Mr. Humke brings broad legal and M&A experience to SkyWater’s Board, further strengthening its governance and strategic decision-making processes. He has a proven track record of driving successful M&A transactions and navigating complex legal landscapes. He currently serves as Executive Vice President, General Counsel and Corporate Secretary of Graco, Inc. where he is responsible for overseeing its global legal function. He also advises its board of directors and its committees on governance and compliance-related matters. Prior to joining Graco, he was an Equity Partner at Ballard Spahr LLP, an Am Law 100 law firm and at Lindquist & Vennum LLP where he also served as Chair of its Corporate/M&A Practice Group. Mr. Humke received his BBA in banking, finance and investments from University of Wisconsin-Madison and a Juris Doctor from Marquette University Law School.

“Dennis and Joe’s expertise in developing and implementing organic and M&A growth plans, alongside judicious capital allocation, will be instrumental in shaping our company’s financial strategies for the future,” said SkyWater’s Chairman of the Board Gary Obermiller.“ Both will be important team members in guiding our continuous improvement and optimizing operational resources to maximize profits and cash flow.”

“We are thrilled to extend a warm welcome to our newest board members,” stated SkyWater CEO Thomas Sonderman. “They bring decades of leadership and expertise in areas crucial for SkyWater’s growth. Their appointments enrich the breadth of knowledge and proficiency within our board.”

About SkyWater Technology
SkyWater (NASDAQ: SKYT) is a U.S.-based semiconductor manufacturer and a DMEA-accredited Category 1A Trusted Foundry. SkyWater’s Technology as a Service model streamlines the path to production for customers with development services, volume production and heterogeneous integration solutions in its world-class U.S. facilities. This pioneering model enables innovators to co-create the next wave of technology with diverse categories including mixed-signal CMOS, ROICs, rad-hard ICs, power management, MEMS, superconducting ICs, photonics, carbon nanotubes and interposers. SkyWater serves growing markets including aerospace & defense, automotive, biomedical, cloud & computing, consumer, industrial and IoT. For more information, visit www.skywatertechnology.com/.

SkyWater Technology Forward-Looking Statements
This press release contains “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements that are based on the Company’s current expectations or forecasts of future events, rather than past events and outcomes, and such statements are not guarantees of future performance. 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. Key factors that could cause the Company’s actual results to be different than expected or anticipated include, but are not limited to, factors discussed in the “Risk Factors” section of its annual report on Form 10-K and quarterly reports on Form 10-Q, and in other documents that the Company files with the SEC, which are available at http://www.sec.gov. The Company assumes no obligation to update any forward-looking statements, which speak only as of the date of this press release.

SkyWater Company Contact: Tara Luther | 952.851.5023 | tara.luther@skywatertechnology.com
SkyWater Media Contact: Lauri Julian | 949.280.5602 | lauri.julian@skywatertechnology.com

SkyWater Technology Reports Fourth Quarter and Full Fiscal Year 2023 Results

By Rocket55 |

Sixth Straight Quarter of Record Revenue Culminates in 35% Growth Year for Fiscal 2023

BLOOMINGTON, Minn. – February 26, 2024 – SkyWater Technology (NASDAQ: SKYT), the trusted technology realization partner, today announced financial results for the fourth quarter and full fiscal year 2023 ended December 31, 2023.

Financial Highlights for Q4 2023:

  • Revenue increased 22% year-over-year to a record $79.2 million.
  • Gross margin decreased to 15.2% on a GAAP basis, compared to 25.4% in Q4 2022, and decreased to 17.4% on a non-GAAP basis, compared to 26.1% in Q4 2022.
  • Net loss to shareholders of $10.3 million, or $(0.22) per share on a GAAP basis, and net loss to shareholders of $1.1 million, or $(0.02) per share on a non-GAAP basis, compared to net loss to shareholders of $3.0 million, or $(0.07) per share on a GAAP basis, and net loss to shareholders $1.5 million, or $(0.03) per share on a non-GAAP basis in Q4 2022.
  • Adjusted EBITDA of $10.6 million, or 13.4% of revenue, compared to $10.3 million, or 15.9% of revenue in Q4 2022.
  • View the results on SkyWater Technology’s Investor Relations page: https://ir.skywatertechnology.com

SkyWater Investor Contact: Claire McAdams | claire@headgatepartners.com
SkyWater Media Contact: Lauri Julian | media@skywatertechnology.com

SkyWater Signs Production Agreement with Nautilus Biotechnology to Fabricate Novel Biomedical Devices

By Rocket55 |

Nautilus program moves from Advanced Technology Services to Wafer Services, demonstrating success of SkyWater’s Technology as a Service model

BLOOMINGTON, Minn. – February 15, 2024 – SkyWater Technology (NASDAQ: SKYT), the trusted technology realization partner, today announced it has signed a production agreement with Nautilus Biotechnology, Inc. to supply silicon-based microfluidic bio chips for Nautilus’ proteome analysis system. This marks a significant milestone for SkyWater as Nautilus transitions from its Advanced Technology Services (ATS) custom development program to SkyWater’s Wafer Services program. Through SkyWater’s Technology as a Service (TaaS) business model, the company provides customers with a unique combination of strong technical capability, rigorous product development processes and secure manufacturing, all within the same U.S. operation.

A more comprehensive understanding of proteins and their function may become an important contributor to precision medicine and in the understanding of biological functions, discovery of disease markers, and verifying drug targets. Advances in protein analysis are increasingly being co-developed across industries through advanced semiconductor manufacturing capabilities. Custom-designed nanostructures, with features orders of magnitude smaller than advanced plastics, can be produced on a large scale and precisely tailored in size, shape, and arrangement to support specific tasks. This approach not only enhances system performance but also leads to savings in materials and costs, directly benefiting companies pursuing next-generation protein analysis by improving efficiency and reducing resource usage.

Advances in MEMS, microfluidics, low-power electronics and materials science are driving innovation for the biomedical industry. SkyWater leverages its extensive CMOS and MEMS process capabilities to meet the customized technology needs of its customers. The company’s TaaS model enables chip designers to engage with the foundry early in the technology lifecycle by performing development work in a production environment. This approach accelerates time to market, ensures that quality is designed in from the start and scales easily to volume. SkyWater is certified to the ISO 13485 Quality Standard for Medical Devices to support the design, development and fabrication of DNA sequencing, lab on chip and other biomedical applications.

“As we continue to experience growth in our innovation-focused ATS development business, we are pleased to see one of our development-stage life science customers begin their transition to Wafer Services production. Our TaaS model allows customers to continue to innovate for future designs on the same tools and processes as their current product, enabling a ‘lab-to-fab’ environment,” said Ross Miller, SVP, commercial and A&D business at SkyWater. “We look forward to continuing to support Nautilus as they move toward the commercial availability of their groundbreaking proteome analysis platform. It’s exciting to be working with their team on efforts to revolutionize biomedicine and positively impact the health and lives of people around the world.”

About SkyWater Technology
SkyWater (NASDAQ: SKYT) is a U.S.-based semiconductor manufacturer and a DMEA-accredited Category 1A Trusted Foundry. SkyWater’s Technology as a Service model streamlines the path to production for customers with development services, volume production and heterogeneous integration solutions in its world-class U.S. facilities. This pioneering model enables innovators to co-create the next wave of technology with diverse categories including mixed-signal CMOS, ROICs, rad-hard ICs, power management, MEMS, superconducting ICs, photonics, carbon nanotubes and interposers. SkyWater serves growing markets including aerospace & defense, automotive, biomedical, cloud & computing, consumer, industrial and IoT. For more information, visit www.skywatertechnology.com/.

SkyWater Technology Forward-Looking Statements
This press release contains “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements that are based on the Company’s current expectations or forecasts of future events, rather than past events and outcomes, and such statements are not guarantees of future performance. 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. Key factors that could cause the Company’s actual results to be different than expected or anticipated include, but are not limited to, factors discussed in the “Risk Factors” section of its annual report on Form 10-K and quarterly reports on Form 10-Q, and in other documents that the Company files with the SEC, which are available at http://www.sec.gov. The Company assumes no obligation to update any forward-looking statements, which speak only as of the date of this press release.

SkyWater Company Contact: Tara Luther | 952.851.5023 | tara.luther@skywatertechnology.com
SkyWater Media Contact: Lauri Julian | 949.280.5602 | lauri.julian@skywatertechnology.com