SkyWater Technology, LLC (SKYT)
SkyWater Technology, Inc., alongside its subsidiaries, operates within the semiconductor sector, providing both development and fabrication services for microelectronic components. The company collaborates closely with clients, offering extensive engineering and process design support to co-create advanced technologies. Furthermore, it undertakes the manufacturing of various silicon-based devices, including analog and mixed-signal integrated circuits, discrete power components, microelectromechanical systems (MEMS), and radiation-hardened chips. Its clientele spans a diverse array of industries such as computing, aerospace and defense, automotive, bio-health, consumer electronics, and industrial Internet of Things (IoT) applications. Established in 2017, the firm's main offices are located in Bloomington, Minnesota.
Sector: Semiconductors & Related Devices
Industry: Semiconductors
SkyWater Technology, Inc.
NASDAQ:SKYTTechnology · Semiconductors
Mkt Cap$1.6B
Float11.01M
O/S49.42M
Inst Own67.7%
SI20.9%
Dilution
Delisting Issues Timeline
Financials Summary
Revenue$442.14M
Net Income$118.92M
Total Assets$733.78M
Free Cash Flow-$53.2M
Debt & Equity
Debt 57%
Equity 43%
Total Debt$250.34M
Total Equity$187.82M
Shares Outstanding
Short Interest
Split History
No splits on record
Nothing in SKYT's public trading history: no forward or reverse split has affected the share count.
Balance Sheet Details
Assets$733.78M
Liabilities$537.96M
Accounts Receivable$100.08M
Accounts Payable$34.87M
Inventory$24.6M
PP&E (Net)$511.72M
Goodwill$0
Intangible Assets$9.17M
Income Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-28 | 2024-12-29 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
| Revenue | $442.14M | $342.27M | $286.68M | $212.94M | $162.85M | $140.44M | $136.72M | $132.17M |
| YoY Growth | 29.2% | 19.4% | 34.6% | 30.8% | 16.0% | 2.7% | 3.4% | - |
| Cost of Revenue | $353.8M | $272.64M | $227.39M | $186.97M | $170.32M | $117.75M | $111.38M | $100.83M |
| Gross Profit | $88.33M | $69.63M | $59.29M | $25.97M | -$7.47M | $22.69M | $25.35M | $31.34M |
| Gross Margin | 20.0% | 20.3% | 20.7% | 12.2% | -4.6% | 16.2% | 18.5% | 23.7% |
| Research and Development | $14.62M | $15.04M | $10.17M | $9.43M | $8.75M | $4.21M | $6.33M | $2.21M |
| Selling, General, and Administrative | $74.88M | $48.03M | $63.91M | $46.3M | $43.59M | $25.03M | $18.72M | $15.17M |
| Other | $0 | $0 | $0 | $0 | -$2.71M | $2.09M | $9.27M | $0 |
| Total Operating Expenses | $89.5M | $63.07M | $74.08M | $55.73M | $49.63M | $31.33M | $34.32M | $17.38M |
| Operating Income (EBIT) | -$1.17M | $6.56M | -$14.79M | -$29.77M | -$57.1M | -$8.64M | -$8.97M | $13.96M |
| Operating Margin | -0.3% | 1.9% | -5.2% | -14.0% | -35.1% | -6.2% | -6.6% | 10.6% |
| Interest Expense | $13.71M | $8.84M | $10.83M | $5.19M | $3.54M | $5.5M | $6.55M | $0 |
| Interest Income | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $7.84M |
| Other Income (Expense) | $96.63M | -$8.84M | -$10.83M | -$6.29M | $2.91M | -$6.15M | -$11.01M | -$13.98M |
| Income Before Tax (EBT) | $95.46M | -$2.28M | -$25.61M | -$36.06M | -$54.19M | -$14.79M | -$19.98M | -$21K |
| Income Tax Expense | -$27.99M | $240K | -$521K | $809K | -$6.79M | $4.92M | -$3.56M | $44K |
| Net Income | $118.92M | -$6.79M | -$30.76M | -$39.59M | -$50.7M | -$20.62M | -$16.42M | -$65K |
| Net Income Margin | 26.9% | -2.0% | -10.7% | -18.6% | -31.1% | -14.7% | -12.0% | -0.0% |
| Supplementary Data | ||||||||
| EPS | 2.47 | -0.14 | -0.68 | -0.90 | -1.19 | -0.50 | -0.42 | -0.00 |
| Diluted EPS | 2.44 | -0.14 | -0.68 | -0.90 | -1.19 | -0.50 | -0.42 | -0.00 |
| Weighted Average OS | 48.18M | 47.40M | 45.51M | 40.84M | 39.84M | 39.06M | 39.06M | 39.06M |
| EBITDA | $144.84M | $25.25M | $14.14M | -$2.68M | -$23.28M | $9.57M | $3.23M | $28.97M |
| EBITDA Margin | 32.8% | 7.4% | 4.9% | -1.3% | -14.3% | 6.8% | 2.4% | 21.9% |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-28 | 2024-12-29 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
| Assets | ||||||||
| Current Assets | ||||||||
| Cash and Cash Equivalents | $23.22M | $18.84M | $18.38M | $30.02M | $12.92M | $7.44M | $4.61M | $498K |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Cash and Short-Term Investments | $23.22M | $18.84M | $18.38M | $30.02M | $12.92M | $7.44M | $4.61M | $498K |
| Accounts Receivable | $100.08M | $76.54M | $95.8M | $62.84M | $40.13M | $30M | $61.97M | $18.98M |
| Inventory | $24.6M | $14.54M | $15.34M | $13.4M | $17.5M | $27.17M | $15.99M | $18.03M |
| Other Current Assets | $45.16M | $18.18M | $14.19M | $7.77M | $1.58M | $9.21M | $25K | $0 |
| Total Current Assets | $193.07M | $132.08M | $146.38M | $116.55M | $74.4M | $76.57M | $84.52M | $38.26M |
| Long-Term Assets | ||||||||
| Property, Plant & Equipment Net | $511.72M | $165.43M | $159.46M | $180.06M | $180.47M | $178.08M | $101.87M | $106.55M |
| Goodwill | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Intangible Assets | $9.17M | $7.78M | $5.67M | $5.61M | $3.89M | $4.56M | $1.62M | $1.76M |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Deferred Tax Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Assets | $19.82M | $8.49M | $5.25M | $3.55M | $4.83M | $4M | $2.43M | $1.71M |
| Total Long-Term Assets | $540.71M | $181.7M | $170.38M | $189.21M | $189.2M | $186.64M | $105.92M | $110.01M |
| Other Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $733.78M | $313.77M | $316.76M | $305.76M | $263.6M | $263.21M | $190.44M | $148.27M |
| Liabilities | ||||||||
| Current Liabilities | ||||||||
| Accounts Payable | $34.87M | $29.59M | $19.61M | $21.1M | $7.64M | $16.79M | $11.26M | $10.21M |
| Short-Term Debt | $190.34M | $32.74M | $26.74M | $57.67M | $1.02M | $2.77M | $4.15M | $2.74M |
| Current Income Tax Payable | $0 | $0 | $0 | $0 | $0 | $1.71M | $0 | $719K |
| Current Unearned Revenue | $42.2M | $55.17M | $49.55M | $28.19M | $20.81M | $30.65M | $2.98M | $216K |
| Other Current Liabilities | $11.25M | $6.39M | $36.16M | $5.71M | $5.37M | $22.9M | $25.54M | $17.85M |
| Total Current Liabilities | $324.02M | $154.33M | $144.2M | $132.17M | $47.77M | $86.33M | $46.57M | $40.93M |
| Long-Term Liabilities | ||||||||
| Long-Term Debt | $32.94M | $34.7M | $36.1M | $35.18M | $58.43M | $69.83M | $43.84M | $33.11M |
| Long-Term Unearned Revenue | $149.47M | $51.9M | $65.75M | $67.97M | $88.09M | $95.4M | $48.49M | $0 |
| Long-Term Deferred Tax Liabilities | $6.37M | $632K | $679K | $1.24M | $995K | $8.06M | $5.67M | $9.93M |
| Other Long-Term Liabilities | $438K | $69K | $0 | $5.87M | $7.19M | $5.18M | $21.69M | $25.7M |
| Total Long-Term Liabilities | $213.75M | $95.96M | $111.86M | $119.61M | $155.91M | $178.47M | $119.7M | $68.74M |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $537.96M | $250.28M | $256.06M | $251.79M | $203.67M | $264.79M | $166.27M | $109.67M |
| Stockholders' Equity | ||||||||
| Preferred Stock | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Common Stock | $489K | $478K | $470K | $437K | $398K | $3.77M | $7.33M | $3.92M |
| Retained Earnings | -$15.05M | -$132M | -$125.2M | -$94.07M | -$54.48M | -$3.78M | $16.83M | $34.67M |
| Comprehensive Income & Other | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Stockholders' Equity | $202.39M | $189.13M | $178.47M | $147.3M | $115.21M | $0 | $0 | $0 |
| Total Equity | $187.82M | $57.61M | $53.74M | $53.67M | $61.13M | -$16K | $24.17M | $38.6M |
| Minority Interest | $7.99M | $5.88M | $6.96M | $308K | -$1.2M | -$1.57M | $0 | $0 |
| Total Liabilities and Equity | $725.79M | $307.9M | $309.8M | $305.46M | $264.8M | $264.78M | $190.44M | $148.27M |
| Supplementary Data | ||||||||
| Total Debt | $250.34M | $76.76M | $72.86M | $103.04M | $61.84M | $72.6M | $47.99M | $35.85M |
| Net Debt | $227.12M | $57.91M | $54.48M | $73.02M | $48.92M | $65.16M | $43.38M | $35.35M |
Cash Flow Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-28 | 2024-12-29 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
| Operating Activities | ||||||||
| Net Income | $123.45M | -$2.52M | -$25.09M | -$36.87M | -$47.4M | -$19.71M | -$16.42M | -$65K |
| Depreciation & Amortization | $35.67M | $18.69M | $28.93M | $28.19M | $27.37M | $18.87M | $16.66M | $15.09M |
| Deferred Income Tax | -$31.5M | -$496K | -$560K | $244K | -$7.06M | $2.39M | -$3.83M | -$1.2M |
| Stock-Based Compensation | $9.42M | $8.17M | $6.86M | $8.61M | $12.53M | $2.64M | $4.17M | $3.11M |
| Changes in Working Capital: | ||||||||
| Accounts Receivable | -$22.44M | $20.2M | -$33.37M | -$11.6M | -$9.39M | $31.45M | -$42.47M | -$4.49M |
| Inventory | -$4.26M | $805K | -$1.94M | -$9.22M | -$3.77M | -$11.18M | $2.04M | -$3.45M |
| Accounts Payable | $13.66M | -$10.39M | $0 | $20.98M | -$5.91M | $12.08M | -$595K | $3.02M |
| Other Working Capital | -$19.47M | -$17.83M | $32.2M | -$17.46M | -$15.08M | $67.4M | $44.39M | $2.56M |
| Total Working Capital Change | -$32.52M | -$7.21M | -$3.11M | -$17.3M | -$34.15M | $99.76M | $3.37M | -$2.35M |
| Other Non-Cash Items | -$128.68M | $1.82M | $3.06M | $2.83M | -$6.97M | -$7.74M | $6.97M | $36.22M |
| Net Cash from Operating | -$24.15M | $18.46M | $10.08M | -$14.3M | -$55.68M | $96.19M | $10.92M | $12.59M |
| Investing Activities | ||||||||
| Capital Expenditures | -$29.05M | -$7.94M | -$8.62M | -$17.05M | -$30.76M | -$85.77M | -$8.46M | -$5.55M |
| Acquisitions | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $1.28M |
| Purchases of Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Sales of Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Investing Activities | -$88.95M | -$3.26M | -$1.87M | -$400K | $939K | -$2.41M | $1.09M | $1.21M |
| Net Cash from Investing | -$118M | -$11.21M | -$10.49M | -$17.45M | -$29.82M | -$88.18M | -$7.37M | -$4.28M |
| Financing Activities | ||||||||
| Debt Repaid | -$140.55M | $931K | $32.58M | -$33.96M | $8.19M | $32.22M | -$2.45M | -$3.21M |
| Common Stock Issuance | $3.85M | $2.5M | $20.4M | $20.09M | $104.21M | $0 | $0 | $0 |
| Common Stock Repurchases | $0 | $0 | $0 | $0 | $0 | -$4.08M | $0 | $0 |
| Dividends Paid | $0 | $0 | $0 | $0 | -$2.92M | -$2.47M | $0 | $0 |
| Other Financing Activities | $2.13M | -$8.36M | $945K | -$5.19M | -$2.12M | $13.67M | -$9.94M | -$11.03M |
| Net Cash from Financing | $146.52M | -$6.79M | -$11.23M | $48.86M | $90.98M | -$5.19M | $552K | -$7.82M |
| Forex Effect | $0 | $1K | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Change in Cash | $4.38M | $462K | -$11.64M | $17.11M | $5.48M | $2.83M | $4.11M | $498K |
| Supplementary Data | ||||||||
| Operating Cash Flow | -$24.15M | $18.46M | $10.08M | -$14.3M | -$55.68M | $96.19M | $10.92M | $12.59M |
| Capital Expenditure | -$29.05M | -$11.26M | -$10.49M | -$17.45M | -$31.98M | -$89.85M | -$8.97M | -$5.55M |
| Free Cash Flow | -$53.2M | $7.2M | -$408K | -$31.75M | -$87.66M | $6.34M | $1.96M | $7.04M |
| Cash at Beginning | $18.84M | $18.38M | $30.02M | $12.92M | $7.44M | $4.61M | $498K | $0 |
| Cash at End | $23.22M | $18.84M | $18.38M | $30.02M | $12.92M | $7.44M | $4.61M | $498K |