SkyWater Technology reports Q1 EPS (8c), consensus (13c)

Reports Q1 revenue $61.3M, consensus $61.04M. The company said, “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 business, the continued federal budget delays affecting overall Department of Defense 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.”