On August 7, 2024, SkyWater Technology, Inc. reported its financial results for the second quarter of 2024, which ended on June 30, 2024. The company announced a 34% increase in revenue year-over-year, reaching a record $93.3 million. However, gross margins declined to 18.3% on a GAAP basis and 18.9% on a non-GAAP basis, compared to 23.9% and 25.3% respectively in the second quarter of 2023. The net loss to shareholders was $1.9 million, or $0.04 per share on a GAAP basis, but on a non-GAAP basis, there was a net income to shareholders of $0.8 million, or $0.02 per share. Adjusted EBITDA was reported at $8.1 million, or 8.7% of revenue, a decrease from $10.3 million, or 14.7% of revenue in the same quarter of the previous year. CEO Thomas Sonderman highlighted the company's strong results in its Advanced Technology Services business and customer-funded CapEx, which contributed to the record revenue and positive non-GAAP EPS. The company also noted significant customer co-investment, positioning SkyWater as a CapEx-light semiconductor manufacturing partner with potential for gross margin expansion and earnings growth in the future.

On August 7, 2024, SkyWater Technology, Inc. reported its financial results for the second quarter of 2024, which ended on June 30, 2024. The company announced a 34% increase in revenue year-over-year, reaching a record $93.3 million. However, gross margins declined to 18.3% on a GAAP basis and 18.9% on a non-GAAP basis, compared to 23.9% and 25.3% respectively in the second quarter of 2023. The net loss to shareholders was $1.9 million, or $0.04 per share on a GAAP basis, but on a non-GAAP basis, there was a net income to shareholders of $0.8 million, or $0.02 per share. Adjusted EBITDA was reported at $8.1 million, or 8.7% of revenue, a decrease from $10.3 million, or 14.7% of revenue in the same quarter of the previous year. CEO Thomas Sonderman highlighted the company's strong results in its Advanced Technology Services business and customer-funded CapEx, which contributed to the record revenue and positive non-GAAP EPS. The company also noted significant customer co-investment, positioning SkyWater as a CapEx-light semiconductor manufacturing partner with potential for gross margin expansion and earnings growth in the future.