SkyWater Technology Inc (SKYT) Q3 2024 Earnings Call Highlights: Record Revenue and Strategic ...

GuruFocus.com11-08

Revenue: $93.8 million for Q3 2024. ATS Revenue: $56.4 million, lower than forecast due to government fiscal year budget constraints. Wafer Services Revenue: $6.7 million, higher than forecast. Tools ...

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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSkyWater Technology Inc (SKYT) Q3 2024 Earnings Call Highlights: Record Revenue and Strategic ...\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-08 15:32 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/skywater-technology-inc-skyt-q3-073224078.html><strong>GuruFocus.com</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Revenue: $93.8 million for Q3 2024.\nATS Revenue: $56.4 million, lower than forecast due to government fiscal year budget constraints.\nWafer Services Revenue: $6.7 million, higher than forecast.\nTools ...</p>\n\n<a href=\"https://finance.yahoo.com/news/skywater-technology-inc-skyt-q3-073224078.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"SKYT","symbol_name":"SkyWater Technology, Inc.","start_time":0,"source_url":"https://finance.yahoo.com/news/skywater-technology-inc-skyt-q3-073224078.html","article_id":"2481146338","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2481146338","pubTimestamp":1731051144,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"ATS Revenue: $56.4 million, lower than forecast due to government fiscal year budget constraints.Wafer Services Revenue: $6.7 million, higher than forecast.Gross Margin: 22.3% for Q3, with a 10.5% negative impact from tools revenue and a 9% positive impact from cost accrual reversal.Operating Income: $6.8 million, well ahead of forecast.Free Cash Flow: Positive with $14.3 million of cash flow from operations.Total Debt: $60.8 million outstanding at quarter end.Q4 Revenue Guidance: $72 million to $76 million.Q4 Operating Expenses: $14.5 million to $15 million.Q4 Non-GAAP EPS Guidance: Loss of 4 to a loss of 10 per share.GuruFocus has detected 2 Warning Sign with SKYT.For the complete transcript of the earnings call, please refer to the full earnings call transcript.SkyWater Technology Inc  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","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"SKYT":"SkyWater Technology, Inc."},"translate_title":"SkyWater Technology Inc(SKYT)2024年第三季度收益看涨期权亮点：创纪录的收入和战略……","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"SKYT":1},"content_text":"Revenue: $93.8 million for Q3 2024.\nATS Revenue: $56.4 million, lower than forecast due to government fiscal year budget constraints.\nWafer Services Revenue: $6.7 million, higher than forecast.\nTools Revenue: $30.7 million, an all-time record.\nGross Margin: 22.3% for Q3, with a 10.5% negative impact from tools revenue and a 9% positive impact from cost accrual reversal.\nOperating Expenses: $14.1 million for the quarter.\nOperating Income: $6.8 million, well ahead of forecast.\nAdjusted EBITDA: $11 million.\nNon-GAAP Net Income: 8 per share.\nCash Balance: $20.7 million at quarter end.\nFree Cash Flow: Positive with $14.3 million of cash flow from operations.\nTotal Debt: $60.8 million outstanding at quarter end.\nQ4 Revenue Guidance: $72 million to $76 million.\nQ4 Gross Margin Guidance: 19% to 23%.\nQ4 Operating Expenses: $14.5 million to $15 million.\nQ4 Non-GAAP EPS Guidance: Loss of 4 to a loss of 10 per share.\n\n\nWarning! GuruFocus has detected 2 Warning Sign with SKYT.\n\nRelease Date: November 07, 2024\nFor the complete transcript of the earnings call, please refer to the full earnings call transcript.\n Positive Points \n\nSkyWater Technology Inc (NASDAQ:SKYT) reported a record revenue of $94 million for the third quarter, driven by strong customer co-investment.\nThe company achieved a 22% gross margin, surpassing expectations due to operational efficiencies and improved execution on key programs.\nSkyWater Technology Inc (NASDAQ:SKYT) announced a multiyear supply agreement with Nanotx, enhancing its position in the biosensor and diagnostics market.\nThe company is expanding its leadership in semiconductor technologies through its involvement in the Microelectronics Commons initiative, which supports national security and innovation.\nSkyWater Technology Inc (NASDAQ:SKYT) is poised for double-digit revenue growth in its ATS segment, with a three-year CAGR exceeding 35%.\n\n Negative Points \n\nATS development revenue declined by 9% from the previous quarter due to funding constraints from aerospace and defense customers.\nThe company anticipates a sequential decline in total revenue for the fourth quarter, with expectations set between $72 million and $76 million.\nTools revenue guidance for 2025 has been adjusted downward, with a significant portion expected in the second half of the year.\nSkyWater Technology Inc (NASDAQ:SKYT) faces challenges in the timing of tool deliveries, which are dependent on supplier schedules.\nThe company expects a non-GAAP EPS loss of 4 to 10 per share for the fourth quarter, indicating potential profitability challenges.\n\n Q & A Highlights \nQ: Can you clarify the gross margin guidance of 19% to 23% for Q4? Is it mainly due to the impact of tool revenue? A: Yes, the gross margin guidance reflects a flat quarter-to-quarter performance for ATS and wafer services revenue. The 19% to 23% range accounts for the impact of tool revenue, which is expected to be similar to the previous quarter.\nQ: How should we think about the seasonality and growth for ATS and wafer services in 2025? A: We anticipate overall growth in 2025, driven by ATS to wafer services conversions. While we typically see seasonality in Q3 due to government fiscal year-end, we expect combined growth in ATS and wafer services next year.\nQ: The tool revenue guidance for Q4 and 2025 seems softer than expected. Can you explain the reasons behind this? A: The timing of tool deliveries is dependent on our suppliers, which affects our projections. For 2025, we expect most tool revenue to be recognized in the second half, particularly from our Florida facility, aligning with our $200 million co-investment plan over three years.\nQ: Have any additional customers transitioned to wafer services, and what is the visibility for 2025? A: We recently concluded a long-term supply agreement with Nano DX. The timing of production transitions depends on customer qualification schedules, but we remain confident in our conversions and expect wafer services growth next year.\nQ: Can you provide more details on the accrual reversal from Q1 and its impact on the related program? A: The $8 million accrual recorded in Q1 has been fully reversed, indicating resolution of technical issues. The program, particularly our rad-hard initiative, is progressing well, with a PDK release expected early next year and production several years away.\nFor the complete transcript of the earnings call, please refer to the full earnings call transcript.This article first appeared on \nGuruFocus.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2481146338"}