SkyWater Technology reports Q1 EPS (8c), consensus (5c)

Reports Q1 revenue $79.6M, consensus $80M. “We entered 2024 with strong momentum and revenue growth exceeding our earlier expectations for our differentiated Advanced Technology Services business, with ATS development revenue increasing 7% sequentially from our prior record set in Q4 2023. While Q1 tool revenue came in lower than forecast due to delays in equipment deliveries, we remain at the forefront of an expected unprecedented year in customer-funded capital investments to enhance SkyWater’s technical capabilities in support of future growth in ATS and Wafer Services. We continue to anticipate another year of revenue growth for SkyWater in 2024, demonstrating that our unique business model offers a compelling value proposition for the development of new technology platforms and products,” said CEO Thomas Sonderman.