Record Fiscal Year Revenue, Gross Profit and EPS
BLOOMINGTON, Minn., – February 26, 2025 – SkyWater Technology, Inc. (NASDAQ: SKYT), the trusted technology realization partner, today announced financial results for the fourth quarter and full fiscal year 2024 ended December 29, 2024.
Financial Highlights for Q4 2024:
- Revenue decreased (5)% year-over-year to $75.5 million.
- Gross margin increased to 25.6% on a GAAP basis, compared to 15.2% in Q4 2023, and increased to 26.6% on a non-GAAP basis, compared to 17.4% in Q4 2023.
- Net loss to shareholders of $0.7 million, or $(0.01) per diluted share on a GAAP basis, and net income to shareholders of $1.9 million, or $0.04 per diluted share on a non-GAAP basis, compared to net loss to shareholders of $10.3 million, or $(0.22) per diluted share on a GAAP basis, and net loss to shareholders of $1.1 million, or $(0.02) per diluted share on a non-GAAP basis in Q4 2023.
- Adjusted EBITDA of $10.2 million, or 13.5% of revenue, compared to $10.6 million, or 13.4% of revenue in Q4 2023.
Financial Highlights for Fiscal Year 2024:
- Revenue increased 19% year-over-year to a record $342.3 million.
- Gross margin decreased to 20.3% on a GAAP basis, compared to 20.7% in fiscal year 2023, and decreased to 21.0% on a non-GAAP basis, compared to 22.0% in fiscal year 2023.
- Net loss to shareholders of $6.8 million, or $(0.14) per diluted share on a GAAP basis, and net income to shareholders of $2.7 million, or $0.06 per diluted share on a non-GAAP basis, compared to net loss to shareholders of $30.8 million, or $(0.68) per diluted share on a GAAP basis, and net loss to shareholders $7.7 million, or $(0.17) per diluted share on a non-GAAP basis in fiscal year 2023 .
- Adjusted EBITDA of $34.3 million, or 10.0% of revenue, compared to $37.2 million, or 13.0% of revenue in fiscal year 2023.
View the full results on SkyWater Technology’s Investor Relations page: https://ir.skywatertechnology.com
SkyWater Investor Contact: Claire McAdams | claire@headgatepartners.com