Record Quarterly Revenues Up 10% Sequentially and Nearly 50% Year-over-Year
BLOOMINGTON, Minn., November 07, 2022--(BUSINESS WIRE)--SkyWater Technology (NASDAQ: SKYT), the trusted technology realization partner, today announced financial results for the third quarter of 2022, ended October 2, 2022.
Total revenue of $52.3 million, up 49% year over year.
Net loss to shareholders of $6.9 million, or (13)% of revenue.
Adjusted EBITDA of $3.8 million, or 7.3% of revenue.
"We are pleased to report record third-quarter revenues of over $52 million, demonstrating the momentum we are gaining as we grow our pipeline of ATS programs and partnerships," said Thomas Sonderman, SkyWater president and chief executive officer. "Our significant growth in Q3 also reflects strong operational execution, as the team demonstrated increased factory efficiencies and significant improvements in gross margin. With flow-through to gross profit well over 50% of incremental revenues, we also achieved adjusted EBITDA of nearly $4 million for the quarter.
Record Quarterly Revenues Up 10% Sequentially and Nearly 50%...
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