2023 Q4 Form 10-Q Financial Statement

#000181997423000117 Filed on November 09, 2023

View on sec.gov

Income Statement

Concept 2023 Q4
Revenue $71.62M
YoY Change 36.88%
Cost Of Revenue $57.48M
YoY Change 30.48%
Gross Profit $14.15M
YoY Change 70.92%
Gross Profit Margin 19.75%
Selling, General & Admin $16.11M
YoY Change 49.42%
% of Gross Profit 113.84%
Research & Development $2.233M
YoY Change -13.45%
% of Gross Profit 15.78%
Depreciation & Amortization $6.719M
YoY Change 1.27%
% of Gross Profit 47.49%
Operating Expenses $18.34M
YoY Change 37.28%
Operating Profit -$4.191M
YoY Change -17.52%
Interest Expense $2.507M
YoY Change 88.35%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$6.698M
YoY Change 4.46%
Income Tax -$96.00K
% Of Pretax Income
Net Earnings -$7.568M
YoY Change 9.06%
Net Earnings / Revenue -10.57%
Basic Earnings Per Share -$0.16
Diluted Earnings Per Share -$0.16
COMMON SHARES
Basic Shares Outstanding 46.45M shares
Diluted Shares Outstanding 46.45M shares

Balance Sheet

Concept 2023 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $17.30M
YoY Change 85.58%
Cash & Equivalents $17.35M
Short-Term Investments
Other Short-Term Assets $225.0K
YoY Change -96.32%
Inventory $16.65M
Prepaid Expenses $2.371M
Receivables $43.49M
Other Receivables $100.0K
Total Short-Term Assets $124.0M
YoY Change 60.15%
LONG-TERM ASSETS
Property, Plant & Equipment $165.9M
YoY Change -9.74%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $5.053M
YoY Change 33.68%
Total Long-Term Assets $175.7M
YoY Change -9.2%
TOTAL ASSETS
Total Short-Term Assets $124.0M
Total Long-Term Assets $175.7M
Total Assets $299.7M
YoY Change 10.61%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $14.38M
YoY Change -24.8%
Accrued Expenses $39.38M
YoY Change 37.41%
Deferred Revenue $20.01M
YoY Change 2.36%
Short-Term Debt $45.25M
YoY Change
Long-Term Debt Due $4.241M
YoY Change 303.52%
Total Short-Term Liabilities $127.9M
YoY Change 75.14%
LONG-TERM LIABILITIES
Long-Term Debt $37.73M
YoY Change -48.09%
Other Long-Term Liabilities $9.466M
YoY Change -13.43%
Total Long-Term Liabilities $104.0M
YoY Change -35.76%
TOTAL LIABILITIES
Total Short-Term Liabilities $127.9M
Total Long-Term Liabilities $104.0M
Total Liabilities $231.9M
YoY Change -1.27%
SHAREHOLDERS EQUITY
Retained Earnings -$114.9M
YoY Change 26.2%
Common Stock $470.0K
YoY Change 13.25%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $62.88M
YoY Change
Total Liabilities & Shareholders Equity $299.7M
YoY Change 10.61%

Cashflow Statement

Concept 2023 Q4
OPERATING ACTIVITIES
Net Income -$7.568M
YoY Change 9.06%
Depreciation, Depletion And Amortization $6.719M
YoY Change 1.27%
Cash From Operating Activities -$3.700M
YoY Change -147.11%
INVESTING ACTIVITIES
Capital Expenditures $1.300M
YoY Change -122.18%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change
Cash From Investing Activities -$1.300M
YoY Change -77.82%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 6.100M
YoY Change -267.4%
NET CHANGE
Cash From Operating Activities -3.700M
Cash From Investing Activities -1.300M
Cash From Financing Activities 6.100M
Net Change In Cash 1.100M
YoY Change -166.59%
FREE CASH FLOW
Cash From Operating Activities -$3.700M
Capital Expenditures $1.300M
Free Cash Flow -$5.000M
YoY Change -136.45%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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Nature of Business<div style="margin-top:7pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">SkyWater Technology, Inc., together with its consolidated subsidiaries (collectively, "SkyWater", the "Company", "it", or "its"), is a U.S.-based, independent, pure-play technology foundry that offers advanced semiconductor development and manufacturing services from its fabrication facility, or fab, in Minnesota and advanced packaging services from its Florida facility. SkyWater's technology-as-a-service model leverages a strong foundation of proprietary technology to co-develop process technology intellectual property with its customers that enables disruptive concepts through its Advanced Technology Services ("ATS") for diverse microelectronics (integrated circuits, or ICs) and related micro- and nanotechnology applications. In addition to these differentiated technology development services, SkyWater supports customers with volume production of ICs for high-growth markets through its Wafer Services.</span></div><div style="margin-top:6pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">SkyWater is an emerging growth company, as defined in the Jumpstart Our Business Startups Act of 2012.</span></div>
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<div style="margin-top:12pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Use of Estimates</span></div><div style="margin-top:6pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of the interim condensed consolidated financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the interim condensed consolidated financial statements and the reported amounts of revenue and expenses during the reporting periods then ended. Management evaluates these estimates and judgments on an ongoing basis and bases its estimates on experience, current and expected future conditions, third-party evaluations, and various other assumptions that management believes are reasonable under the circumstances. Actual results could differ from those estimates.</span></div>
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P4Y6M

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