Shimmick Corporation (SHIM) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good afternoon, and thank you for joining us on today's conference call to discuss SHMIC's second quarter 2025 results. Slides for today's presentation are available on the investor relations section of our website, www.shmic.com. During this conference call, management will make forward looking statements based on current expectations and assumptions, which are subject to risk and uncertainties. Actual results could differ materially from our forward looking statements if any of our key assumptions are incorrect. We identify the principal risks and uncertainties that may affect our performance in our reports and filings with the Securities and Exchange Commission, which can also be found on our investor relations website. We do not undertake a duty to update any forward-looking statements. Today's presentation also includes references to non-GAAP financial measures. You should refer to the information contained in the company's second quarter press release for definitional information and reconciliations of historical non-GAAP measures to the comparable GAAP financial measures. With that, it is my pleasure to turn the call over to Yoral Yal, SHMIC's CEO. Good afternoon, and thank you all for joining us on today's call. I'm joined by Todd Yoder, Chimix CFO. Let's get started. I'm going to start by discussing our results for the second quarter and the increasing momentum we are experiencing in our business. For the second quarter of 2025, we delivered revenues of $128 million, the gross margin of $8 million, and a nearly flat adjusted EBITDA of negative $234,000. Of the second quarter revenues, over 88% came from SHIMIC projects, which is a 12% improvement from the first quarter of 2025. We have also tripled our gross margin on SHIMIC projects from prior year's second...