Record Revenues and Continued Year-over-Year Increase in Gross Margin
BLOOMINGTON, Minn. – November 8, 2023 – SkyWater Technology (NASDAQ: SKYT), the trusted technology realization partner, today announced financial results for the third quarter of 2023, ended October 1, 2023.
Financial Highlights for Q3 2023:
- Revenue increased 37% year-over-year to a record $71.6 million.
- Gross margin increased to 19.8% on a GAAP basis, compared to 15.8% in Q3 2022, and increased to 20.4% on a non-GAAP basis, compared to 16.9% in Q3 2022.
- Net loss to shareholders of $7.6 million, or $(0.16) per share on a GAAP basis, and net loss to shareholders of $2.2 million, or $(0.05) per share on a non-GAAP basis, compared to net loss to shareholders of $6.9 million, or $(0.17) per share on a GAAP basis, and net loss to shareholders $5.1 million, or $(0.13) per share on a non-GAAP basis in Q3 2022.
- Adjusted EBITDA of $8.3 million, or 11.6% of revenue, compared to $3.8 million, or 7.3% of revenue in Q3 2022.
View the full Third Quarter Results on SkyWater Technology’s Investor Relations page:
https://ir.skywatertechnology.com/news/news-details/2023/SkyWater-Technology-Reports-Third-Quarter-2023-Results/default.aspx
SkyWater Investor Contact: Claire McAdams | claire@headgatepartners.com
SkyWater Media Contact: Lauri Julian | media@skywatertechnology.com