Business
SkyWater Technology Reports First Quarter 2025 Results
BLOOMINGTON, Minn.--(BUSINESS WIRE)-- SkyWater Technology, Inc. (NASDAQ: SKYT), the trusted technology realization partner, today announced financial results
About this update from Skywater Technology, Inc.
[{"type":"text","content":" BLOOMINGTON, Minn.--(BUSINESS WIRE)--\nSkyWater Technology, Inc. (NASDAQ: SKYT), the trusted technology realization partner, today announced financial results for the first quarter 2025 ended March 30, 2025.\n\n“We’re pleased to report that our financial results for the first quarter reflect modest upside to our expectations entering the year,” commented Thomas Sonderman, CEO. “A significant rebound in sequential growth for our Wafer Services business reflected strong traction with lead customers for our ThermaView℠ platform launched in January. In our Advanced Technology Services (ATS) business, the continued federal budget delays affecting overall Department of Defense (DOD) program funding are resulting in a near-term softening of our anticipated ATS growth trajectory, following record revenues achieved in 2024. We are confident in our ability to execute towards another record ATS revenue year in 2025, provided that the funding delays in Washington, DC are resolved soon. With our current visibility, and provided that the requisite program funding proceeds as planned, we believe we will achieve year-over-year revenue growth in both ATS and Wafer Services, expansion of our gross margin profile, strong adjusted EBITDA, and non-GAAP positive EPS for fiscal 2025. Finally, we look forward to sharing additional details of our long-term strategic vision for the acquisition of Infineon’s Fab 25, following an anticipated closing in mid-2025.”\n\nRecent Business Highlights\n\n\nStrong sequential growth in Wafer Services revenue in Q1 was driven primarily by robust demand for our new ThermaView platform from two leading defense prime customers, demonstrating significant traction achieved since the January launch of SkyWater’s first proprietary product platform.\n\n\nIn a landmark achievement announced during Q1, SkyWater partner D-Wave demonstrated quantum supremacy in simulation, an industry-defining milestone showcasing that quantum systems can outperform classical computers on targeted problems. This breakthrough leveraged SkyWater’s commercially-fabricated superconducting qubits, highlighting our essential role in enabling quantum innovation through secure, U.S.-based manufacturing.\n\n\nWe continue to make strong progress towards the closing of the acquisition of Infineon’s flagship Fab 25 in Austin, TX, in support of SkyWater’s st...