Shimmick Corp (SHIM) Form 8-K — Aug 10, 2026
Shimmick Corp (NASDAQ: SHIM) reported Q2 2026 revenue of $107 million, down from $128 million a year earlier, but cut its net loss to $5 million, a $4 million sequential improvement, and posted $4 million of Adjusted EBITDA — its fourth consecutive positive quarter. Gross margin rose 53% quarter-over-quarter to $12 million, with diluted loss per share narrowing to $(0.12) from $(0.25) in the prior-year quarter. Backlog reached approximately $991 million, the highest since Q1 2024, on a 1.4x book-to-burn ratio and $138 million of new work booked in the quarter.
Key figures
- Revenue
- $107 million (Q2 2026; $106.6M exact per statements of operations)
- Guidance
- FY2026 revenue updated to $525-575 million (~12% YoY growth at midpoint); Adjusted EBITDA reaffirmed at $15-30 million (~350% YoY growth at midpoint)
- Net Income
- -$5 million attributable net loss (improved $4 million QoQ; -$4.8M exact)
- Total Debt
- $72.4 million ($2.4M current portion + $69.9M long-term)
- Revenue Yoy
- approximately -17% (derived: $107M vs $128M prior-year Q2)
- Total Assets
- 224936000
- Cash Position
- $16.9 million cash and equivalents; $33 million total liquidity as of July 3, 2026 (vs $34 million as of April 3, 2026)
- Shares Outstanding
- 41335823
- Backlog
- $991 million as of July 3, 2026 — highest since Q1 2024
- H1 Revenue
- $195 million (vs $251 million prior-year H1)
- Gross Margin Q2
- $12 million, up 53% quarter-over-quarter; 12% of revenue vs 6% prior year
- Book To Burn Ratio
- 1.4x — fourth consecutive quarter >1.0
- Adjusted EBITDAQ2
- $4 million ($4.386M exact) vs $(0.2)M prior year
- Pending New Awards
- $221 million in water and electrical target markets (California and Texas)
- Interest Expense Q2
- $2.0 million, up $1 million YoY on higher long-term debt balances
- New Awards Booked Q2
- $138 million
- Adjusted Diluted EPS
- -$0.01 (vs -$0.14 prior-year Q2)
- H1 Operating Cash Flow
- -$24.6 million net cash used in operations
- Stockholders Deficit
- -$50.3 million as of July 3, 2026
- H1 Net Loss Attributable
- -$9.4 million (vs -$18.3 million prior-year H1)
- Equity Offering Proceeds H1
- $14.0 million net proceeds from an underwritten equity offering
Price after filing
Close on the filing date to close N calendar days later (from $4.42). Historical, not a forecast.
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