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MARKETS / NASDAQ / SKYT
NASDAQ · SEMICONDUCTORS & RELATED DEVICES · MID CAP

SkyWater Technology, LLC SKYT

6 fiscal years on record · USD · FY2025 reported · SEC filings only
$442.1M
▲ 29.2% YoY
$118.9M
$-53.3M
▼ 606.7% YoY
In brief

What this company does

SkyWater Technology, Inc. operates as a U.S.-based, independent, pure-play semiconductor foundry, providing foundational-node manufacturing, advanced technology development, and advanced packaging services through an integrated, multi-site operating model. The company operates exclusively within the United States, with fabrication and packaging facilities in Minnesota, Texas, and Florida. As of December 28, 2025, the company had 1,551 employees, all of whom reside in the United States. Infineon accounted for 43% and 7% of the company's revenue for the fiscal years ended December 28, 2025 and December 29, 2024, respectively. The company's operations are organized into two reportable segments, Legacy SkyWater and SkyWater Texas. Legacy SkyWater offers advanced semiconductor development and manufacturing services from its fabrication facility in Bloomington, Minnesota, and advanced packaging services from its Kissimmee, Florida facility. SkyWater Texas offers manufacturing services from its fabrication facility in Austin, Texas, focused on 200 mm semiconductor fabrication, copper processing, high-voltage technology services and 65 nm node infrastructure support. Before it began independent operations, the company's Minnesota fab was owned and operated by Cypress Semiconductor Corporation as a captive manufacturing facility for 26 years, and the company became independent in 2017 when it was acquired by an affiliate of Oxbow Industries, LLC as part of a divestiture from Cypress.

Written from the business description in SkyWater Technology, Inc.'s annual report to the U.S. Securities and Exchange Commission, filed 11 March 2026. Every sentence was checked against that document before publication.

Growth
USD 442.1M
Revenue, FY2025 · full 6-year series below
Revenue $M Net income $M
FY2025 · Revenue 442.1 · Net income 118.9
200M400M-20M-40M202020212022202320242025
Compound annual growth
+27.6%
+25.8%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +25.8% a year over five years.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
28 cents
of every revenue dollar became profit
Operating margin Net margin
FY2025 · Operating -0.6% · Net 27.9%
10%20%-10%-20%-30%202020212022202320242025
ROE
FY2025 · ROE 97.7%
50%-50%-100%-150%202020212022202320242025

Each USD of equity produced 98 cents of profit this year.

Cash & shareholders
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF -53.3
4M8M-40M-80M202020212022202320242025
Net buybacks $M Dividends $M
FY2022 · Dividends — · Net buybacks -16.2
2M4M-8M-16M202020212022

Total assetsUSD 733.9M
EquityUSD 187.8M
CashUSD 23.2M
Gross debtUSD 38.9M
Net debtUSD 15.7M
Current ratio0.60×

Net debt stands at 8% of equity.

The 6-year record
6 fiscal years
Every figure from documents filed with the SEC · USD

The share count changed between 2020 and 2023, but the exact year can't be marked here — the underlying count wasn't on file for every year in that stretch.

row low → row highnegative
Metric 202520242023202220212020
Revenue $B0.40.30.30.20.20.1
Operating income $B−0.00.0−0.0−0.0−0.1−0.0
EBITDA $B0.00.00.0−0.0−0.00.0
Income tax $B−0.00.0−0.00.0−0.00.0
Net income $B0.1−0.0−0.0−0.0−0.1−0.0
Free cash flow $B−0.10.00.0−0.0−0.10.0
EPS, diluted $2.44−0.14−0.68−0.97−1.76·
Dividend / sh $······
Payout %······
ROE %97.7−12.4−57.3−69.0−165.9·
Shares out B0.050.050.050.040.040.00

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance
Company facts, as filed
How we verify · 0 failures in 29 reconciliationsAUDITED

Reconciled in 6 of 19 fiscal years. 66 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures
ActivitySemiconductors & Related Devices
Listed onNASDAQ
Incorporated innot stated in the filings
Fiscal year endsDecember 29
SEC categoryemerging growth company
Data on record since2020

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