Loading…
SkyWater Technology, Inc., together with its subsidiaries, provides semiconductor manufacturing services in the United States. The company operates through two segments, Legacy SkyWater and SkyWater Texas. The company offers foundry services; advanced technology services (ATS); wafer manufacturing services for analog, mixed-signal, MEMS, and specialty CMOS devices; and advanced semiconductor packaging. The company serves quantum computing, aerospace and defense, automotive, bio-health, and industrial sectors. SkyWater Technology, Inc. was incorporated in 2016 and is headquartered in Bloomington, Minnesota.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $442M | $145M | $119M | $-56M | 63.3% | 29.2% | -1850.5% |
| 2024 | $342M | $25M | $-7M | $7M | -12.2% | 19.4% | -77.9% |
| 2023 | $287M | $14M | $-31M | $-0M | -57.2% | 34.6% | -22.3% |
| 2022 | $213M | $-3M | $-40M | $-32M | -73.8% | - | - |
| 2021 | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 212.94 | 286.68 | 342.27 | 442.14 |
| Operating Revenue | - | 212.94 | 286.68 | 342.27 | 442.14 |
| Cost Of Revenue | - | 186.97 | 227.39 | 272.64 | 355.21 |
| Gross Profit | - | 25.97 | 59.29 | 69.63 | 86.93 |
| Operating Expense | - | 55.73 | 74.08 | 63.07 | 89.50 |
| Research And Development | - | 9.43 | 10.17 | 15.04 | 14.62 |
| Selling General And Administration | - | 46.30 | 63.91 | 48.03 | 74.88 |
| Total Expenses | - | 242.71 | 301.47 | 335.71 | 444.72 |
| Operating Income | - | -29.77 | -14.79 | 6.56 | -2.58 |
| Total Operating Income As Reported | - | -29.77 | -14.79 | 6.56 | -2.58 |
| EBITDA | - | -2.68 | 14.14 | 25.25 | 144.84 |
| Normalized EBITDA | - | -1.58 | 14.14 | 25.25 | 33.09 |
| EBIT | - | -30.87 | -14.79 | 6.56 | 109.17 |
| Interest Expense | - | 5.19 | 10.83 | 8.84 | 13.71 |
| Net Interest Income | - | -5.19 | -10.83 | -8.84 | -13.71 |
| Other Income Expense | 9.16 | -1.10 | - | - | 111.75 |
| Interest Expense Non Operating | - | 5.19 | 10.83 | 8.84 | 13.71 |
| Net Non Operating Interest Income Expense | - | -5.19 | -10.83 | -8.84 | -13.71 |
| Pretax Income | - | -36.06 | -25.61 | -2.28 | 95.46 |
| Tax Provision | - | 0.81 | -0.52 | 0.24 | -27.99 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -0.23 | 0 | 0 | 23.47 |
| Net Income Continuous Operations | - | -36.87 | -25.09 | -2.52 | 123.45 |
| Net Income From Continuing And Discontinued Operation | - | -39.59 | -30.76 | -6.79 | 118.91 |
| Net Income From Continuing Operation Net Minority Interest | - | -39.59 | -30.76 | -6.79 | 118.91 |
| Net Income | - | -39.59 | -30.76 | -6.79 | 118.91 |
| Net Income Common Stockholders | - | -39.59 | -30.76 | -6.79 | 118.91 |
| Net Income Including Noncontrolling Interests | - | -36.87 | -25.09 | -2.52 | 123.45 |
| Normalized Income | - | -38.72 | -30.76 | -6.79 | 30.63 |
| Diluted NI Availto Com Stockholders | - | -39.59 | -30.76 | -6.79 | 118.91 |
| Basic Average Shares | 29.04 | 40.84 | 45.51 | 47.40 | - |
| Diluted Average Shares | 29.04 | 40.84 | 45.51 | 47.40 | - |
| Reconciled Depreciation | - | 28.19 | 28.93 | 18.69 | 35.67 |
| Reconciled Cost Of Revenue | - | 186.97 | 227.39 | 272.64 | 355.21 |
| Total Unusual Items | - | -1.10 | 0 | 0 | 111.75 |
| Total Unusual Items Excluding Goodwill | - | -1.10 | 0 | 0 | 111.75 |
| Preferred Stock Dividends | 0.40 | - | - | - | - |
| Minority Interests | - | -2.72 | -5.66 | -4.28 | -4.54 |
| Special Income Charges | - | -1.10 | 0 | 0 | 111.75 |
| Other Special Charges | -6.45 | 1.10 | - | - | - |
| Restructuring And Mergern Acquisition | - | 0 | 0 | 0 | -111.75 |
Technology sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| SkyWater Technology, Inc.this co. | SKYT | $1.9B | 15.70↓ discount | 9.94 | 63.3% | 14.46 |
| Grindr Inc. | GRND | $1.9B | 20.07 | 40.46 | 201.6% | 15.27 |
| CTS Corporation | CTS | $1.9B | 29.01 | 3.43 | 11.8% | 15.46 |
| Intapp, Inc. | INTA | $1.9B | -103.17 | 3.62 | -3.5% | -340.62 |
| Five9, Inc. | FIVN | $1.9B | 47.51 |
| - |
| - |
| - |
| - |
| - |
| - |
| 2.38 |
| 5.0% |
| 20.25 |
| Asana, Inc. | ASAN | $1.9B | - | 12.07 | -122.6% | - |
| AMBQ | AMBQ | $1.8B | -49.83 | 11.18 | -22.4% | -51.89 |
| Semrush Holdings, Inc. | SEMR | $1.8B | -95.70 | 6.29 | -6.6% | -174.63 |
| PC Connection, Inc. | CNXN | $1.8B | 21.55 | 1.98 | 9.2% | 11.36 |
| Peer Median | - | 20.07 | 4.95 | 0.8% | 11.36 | |