Record Revenues for Q1 2023
BLOOMINGTON, Minn. – May 8, 2023 – SkyWater Technology (NASDAQ: SKYT), the trusted technology realization partner, today announced financial results for the first quarter 2023, ended April 1, 2023.
Highlights for Q1 2023:
- Revenue increased 37% year-over-year to a record $66.1 million.
- Gross margin increased to 24.9% on a GAAP basis, compared to (2.0)% in Q1 2022, and increased to 25.8% on a non-GAAP basis, compared to 1.1% in Q1 2022.
- Net loss to shareholders of $4.3 million, or $(0.10) per share on a GAAP basis, and net loss to shareholders of $2.5 million, or $(0.06) per share on a non-GAAP basis, compared to net loss to shareholders of $16.6 million, or $(0.42) per share on a GAAP basis, and net loss to shareholders $13.0 million, or $(0.33) per share on a non-GAAP basis in Q1 2022.
- Adjusted EBITDA of $8.1 million, or 12.3% of revenue, compared to $(4.8) million, or (10.0)% of revenue in Q1 2022.
View the full First Quarter 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