Summary by Moomoo AI
SkyWater Technology, a U.S.-based independent technology foundry, reported a significant increase in revenue for fiscal year 2023, with a 35% rise to $286.7 million compared to $212.9 million in fiscal year 2022. The company's gross profit saw a substantial increase of 128%, reaching $59.3 million, up from $26.0 million in the previous year. Despite these gains, SkyWater experienced a net loss of $25.1 million, which was a 32% improvement from the $36.9 million net loss in fiscal year 2022. The company attributes the revenue growth primarily to an increase in Advanced Technology Services (ATS) development revenue, driven by U.S. government programs and activity in cloud and computing end markets. SkyWater's business development has been marked by its Technology as a Service (TaaS) model and Wafer Services, which...Show More