Q3 2024 Skywater Technology Inc Earnings Call Transcript
Key Points
- SkyWater Technology Inc (SKYT) reported a record revenue of $94 million for the third quarter, driven by strong customer co-investment.
- The company achieved a 22% gross margin, surpassing expectations due to operational efficiencies and improved execution on key programs.
- SkyWater Technology Inc (SKYT) announced a multiyear supply agreement with Nanotx, enhancing its position in the biosensor and diagnostics market.
- The company is expanding its leadership in semiconductor technologies through its involvement in the Microelectronics Commons initiative, which supports national security and innovation.
- SkyWater Technology Inc (SKYT) is poised for double-digit revenue growth in its ATS segment, with a three-year CAGR exceeding 35%.
- ATS development revenue declined by 9% from the previous quarter due to funding constraints from aerospace and defense customers.
- The company anticipates a sequential decline in total revenue for the fourth quarter, with expectations set between $72 million and $76 million.
- Tools revenue guidance for 2025 has been adjusted downward, with a significant portion expected in the second half of the year.
- SkyWater Technology Inc (SKYT) faces challenges in the timing of tool deliveries, which are dependent on supplier schedules.
- The company expects a non-GAAP EPS loss of 4¢ to 10¢ per share for the fourth quarter, indicating potential profitability challenges.
Ladies and Gentlemen, Thank you for standing by. My name is Christa and I will be your conference operator today. At this time, I would like to welcome everyone to Skywater Technology third-quarter, 2024 financial results conference call. (Operator Instructions). I would now like to turn the conference over to Claire mcadams Investor Relations for Skywater Claire. You may begin.
Thank you, Operator. Good afternoon and welcome to Skywater's third-quarter, 2024. Conference call with me on the call today from Skywater are Thomas Sonderman, Chief Executive Officer and Steve Manco, Chief Financial Officer. I'd like to remind you that our call is being webcast live on Skywater's investor relations website at Ir dot Skywater technology dotcom. The webcast will be available for replay shortly after the call concludes on our IR website. We have posted a slide presentation to a company today's call as well as a financial supplement, summarizing our quarterly and annual financial results for the last three years
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
