Skywater Technology Inc
NASDAQ:SKYT

  • LAST PRICE
    8.9900
  • TODAY'S CHANGE (%)
    0.0000 (0.0000%)
  • Bid / Lots
    8.7000/ 1
  • Ask / Lots
    8.9500/ 3
  • Open / Previous Close
    --- / 8.9900
  • Day Range
    ---
  • 52 Week Range
    5.2300
    12.9700
  • Volume
    1,730

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  • Today

  • Nov 7, 2024

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    • 4:20PM ET on Thursday Nov 07, 2024 by MT Newswires
      Companies Mentioned: SKYT
      04:20 PM EST, 11/07/2024 (MT Newswires) -- ...

    • 4:19PM ET on Thursday Nov 07, 2024 by MT Newswires
      Companies Mentioned: SKYT
      04:19 PM EST, 11/07/2024 (MT Newswires) -- ...

    • 4:05PM ET on Thursday Nov 07, 2024 by Dow Jones
      Companies Mentioned: SKYT
      ------- ----- ----- ------- ----- $ 2,018 $2,016 $ 1,853 $ 6,105 $ 5,673 ======= ===== ===== ======= ===== Management transition expense allocation in the consolidated statements of operations (2): Cost of revenue $ 97 $ -- $ -- $ 97 $ 705 Selling, general, and administrative expense -- 664 -- 664 130 ------- ----- ----- ------- ----- $ 97 $ 664 $ -- $ 761 $ 835 ======= ===== ===== ======= ===== Three-Month Period Nine-Month Period Ended September Ended September 29, 29, 2024 2024 ------------------ --------------------- GAAP Non-GAAP GAAP Non-GAAP -------- -------- --------- ---------- Computation of net income (loss) per common share, basic and diluted: (in thousands, except per share data) Numerator: -------------------------- Net income (loss) attributable to SkyWater Technology, Inc. $ 1,512 $ 3,627 $ (6,114) $ 752 Denominator: -------------------------- Weighted-average common shares outstanding, basic 47,523 47,523 47,339 47,339 ------ ------ ------- ------ Net income (loss) per common share, basic $ 0.03 $ 0.08 $ (0.13) $ 0.02 ====== ====== ======= ====== Weighted-average common shares outstanding, diluted 47,640 47,640 47,339 47,481 ------ ------ ------- ------ Net income (loss) per common share, diluted $ 0.03 $ 0.08 $ (0.13) $ 0.02 ====== ====== ======= ====== Three-Month Period Ended June 30, 2024 ------------------ GAAP Non-GAAP -------- -------- Computation of net income (in thousands, (loss) per common share, except per share basic and diluted: data) Numerator: -------------------------- Net income (loss) attributable to SkyWater Technology, Inc. $(1,897) $ 783 Denominator: -------------------------- Weighted-average common shares outstanding, basic 47,395 47,395 ------ ------ Net income (loss) per common share, basic $ (0.04) $ 0.02 ====== ====== Weighted-average common shares outstanding, diluted 47,395 47,521 ------ ------ Net income (loss) per common share, diluted $ (0.04) $ 0.02 ====== ====== Three-Month Period Nine-Month Period Ended October 1, Ended October 1, 2023 2023 ------------------ --------------------- GAAP Non-GAAP GAAP Non-GAAP -------- -------- --------- ---------- Computation of net loss per common share, basic and diluted: (in thousands, except per share data) Numerator: -------------------------- Net loss attributable to SkyWater Technology, Inc. $(7,568) $(2,193) $(20,431) $(6,581) Denominator: -------------------------- Weighted-average common shares outstanding, basic and diluted 46,445 46,445 45,002 45,002 ------ ------ ------- ------ Net loss per common share, basic and diluted $ (0.16) $ (0.05) $ (0.45) $ (0.15) ====== ====== ======= ====== Three-Month Period Ended Nine-Month Period Ended -------------------------------------- -------------------------- September June 30, October 1, September October 1, 29, 2024 2024 2023 29, 2024 2023 ------------ ----------- ----------- ------------ ------------ (in thousands) Net income (loss) to shareholders (GAAP) $ 1,512 $(1,897) $(7,568) $(6,114) $(20,431) Net income (loss) as a percentage of total revenue 1.6% (2.0)% (10.6)% (2.3)% (9.8)% Interest expense $ 1,988 $ 2,482 $ 2,507 $ 6,859 $ 7,928 Income tax (benefit) expense 93 (127) (96) 7 (71) Depreciation and amortization expense 4,166 4,064 7,092 13,295 21,651 ------ --- ------ ------ ------ --- ------- EBITDA 7,759 4,522 1,935 14,047 9,077 Equity-based compensation expense (1) 2,018 2,016 1,853 6,105 5,673 Management transition expense (2) 97 664 -- 761 835 Business transformation costs (3) -- -- 3,522 -- 6,022 CHIPS Act specialist fees (4) -- -- -- -- 1,320 Net income attributable to noncontrolling interests (5) 1,116 942 966 3,154 3,739 ------ --- ------ ------ ------ --- ------- Adjusted EBITDA $10,990 $ 8,144 $ 8,276 $24,067 $ 26,666 ====== === ====== ====== ====== === ======= Adjusted EBITDA as a percentage of total revenue 11.7% 8.7% 11.6% 9.0% 12.8% __________________ (1) Represents non-cash equity-based compensation expense. (2) Represents the cost of severance, separation, and other termination benefits related to the reorganization of the manufacturing, sales, marketing, and operations leadership team. (3) Represents expenses related to long-term transformation activities focused on improvement in automation and operational efficiency and includes project-based management consulting fees. (4) Represents the costs of project-based specialist fees related to our CHIPS Act application process. (5) Represents net income attributable to noncontrolling interests arising from our variable interest entity (VIE), which was formed for the purpose of purchasing the land and building of our primary operating facility in Bloomington, Minnesota. Since interest expense is added back to net income (loss) to shareholders in our adjusted EBITDA financial measure, we also add back the net income attributable to noncontrolling interests as its net income is derived from interest the VIE charges SkyWater.

    • 4:05PM ET on Thursday Nov 07, 2024 by Dow Jones
      Companies Mentioned: SKYT
      ------- ----- ----- ------- ----- $ 2,018 $2,016 $ 1,853 $ 6,105 $ 5,673 ======= ===== ===== ======= ===== Management transition expense allocation in the consolidated statements of operations (2): Cost of revenue $ 97 $ -- $ -- $ 97 $ 705 Selling, general, and administrative expense -- 664 -- 664 130 ------- ----- ----- ------- ----- $ 97 $ 664 $ -- $ 761 $ 835 ======= ===== ===== ======= ===== Three-Month Period Nine-Month Period Ended September Ended September 29, 29, 2024 2024 ------------------ --------------------- GAAP Non-GAAP GAAP Non-GAAP -------- -------- --------- ---------- Computation of net income (loss) per common share, basic and diluted: (in thousands, except per share data) Numerator: -------------------------- Net income (loss) attributable to SkyWater Technology, Inc. $ 1,512 $ 3,627 $ (6,114) $ 752 Denominator: -------------------------- Weighted-average common shares outstanding, basic 47,523 47,523 47,339 47,339 ------ ------ ------- ------ Net income (loss) per common share, basic $ 0.03 $ 0.08 $ (0.13) $ 0.02 ====== ====== ======= ====== Weighted-average common shares outstanding, diluted 47,640 47,640 47,339 47,481 ------ ------ ------- ------ Net income (loss) per common share, diluted $ 0.03 $ 0.08 $ (0.13) $ 0.02 ====== ====== ======= ====== Three-Month Period Ended June 30, 2024 ------------------ GAAP Non-GAAP -------- -------- Computation of net income (in thousands, (loss) per common share, except per share basic and diluted: data) Numerator: -------------------------- Net income (loss) attributable to SkyWater Technology, Inc. $(1,897) $ 783 Denominator: -------------------------- Weighted-average common shares outstanding, basic 47,395 47,395 ------ ------ Net income (loss) per common share, basic $ (0.04) $ 0.02 ====== ====== Weighted-average common shares outstanding, diluted 47,395 47,521 ------ ------ Net income (loss) per common share, diluted $ (0.04) $ 0.02 ====== ====== Three-Month Period Nine-Month Period Ended October 1, Ended October 1, 2023 2023 ------------------ --------------------- GAAP Non-GAAP GAAP Non-GAAP -------- -------- --------- ---------- Computation of net loss per common share, basic and diluted: (in thousands, except per share data) Numerator: -------------------------- Net loss attributable to SkyWater Technology, Inc. $(7,568) $(2,193) $(20,431) $(6,581) Denominator: -------------------------- Weighted-average common shares outstanding, basic and diluted 46,445 46,445 45,002 45,002 ------ ------ ------- ------ Net loss per common share, basic and diluted $ (0.16) $ (0.05) $ (0.45) $ (0.15) ====== ====== ======= ====== Three-Month Period Ended Nine-Month Period Ended -------------------------------------- -------------------------- September June 30, October 1, September October 1, 29, 2024 2024 2023 29, 2024 2023 ------------ ----------- ----------- ------------ ------------ (in thousands) Net income (loss) to shareholders (GAAP) $ 1,512 $(1,897) $(7,568) $(6,114) $(20,431) Net income (loss) as a percentage of total revenue 1.6% (2.0)% (10.6)% (2.3)% (9.8)% Interest expense $ 1,988 $ 2,482 $ 2,507 $ 6,859 $ 7,928 Income tax (benefit) expense 93 (127) (96) 7 (71) Depreciation and amortization expense 4,166 4,064 7,092 13,295 21,651 ------ --- ------ ------ ------ --- ------- EBITDA 7,759 4,522 1,935 14,047 9,077 Equity-based compensation expense (1) 2,018 2,016 1,853 6,105 5,673 Management transition expense (2) 97 664 -- 761 835 Business transformation costs (3) -- -- 3,522 -- 6,022 CHIPS Act specialist fees (4) -- -- -- -- 1,320 Net income attributable to noncontrolling interests (5) 1,116 942 966 3,154 3,739 ------ --- ------ ------ ------ --- ------- Adjusted EBITDA $10,990 $ 8,144 $ 8,276 $24,067 $ 26,666 ====== === ====== ====== ====== === ======= Adjusted EBITDA as a percentage of total revenue 11.7% 8.7% 11.6% 9.0% 12.8% __________________ (1) Represents non-cash equity-based compensation expense. (2) Represents the cost of severance, separation, and other termination benefits related to the reorganization of the manufacturing, sales, marketing, and operations leadership team. (3) Represents expenses related to long-term transformation activities focused on improvement in automation and operational efficiency and includes project-based management consulting fees. (4) Represents the costs of project-based specialist fees related to our CHIPS Act application process. (5) Represents net income attributable to noncontrolling interests arising from our variable interest entity (VIE), which was formed for the purpose of purchasing the land and building of our primary operating facility in Bloomington, Minnesota. Since interest expense is added back to net income (loss) to shareholders in our adjusted EBITDA financial measure, we also add back the net income attributable to noncontrolling interests as its net income is derived from interest the VIE charges SkyWater.

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