SkyWater Technology sets record revenue in Q4, anticipates growth ahead.

TLDR:

• SkyWater Technology reported record Q4 revenues of $79 million, an 11% increase from the previous quarter.
• The Advanced Technology Services (ATS) development business drove growth while Wafer Services revenues declined.

SkyWater aims for profitability in H2 2024 with a focus on growth in ATS development and strategic investments.

Earnings call: SkyWater Technology sees record Q4 revenue, eyes future growth. The semiconductor manufacturing company, SkyWater Technology, reported a record revenue of $79 million in the fourth quarter, marking an 11% increase from the previous quarter and a 22% increase from the same period last year. The growth was primarily driven by the Advanced Technology Services (ATS) development business, while the Wafer Services revenues declined due to softer demand in the industrial sector. Looking ahead, SkyWater aims for profitability in the second half of 2024, focusing on growth in ATS development and customer-funded capital expenditures (CapEx). The company anticipates significant growth and a strong position for profitability and future growth.