SKYWATER TECHNOLOGY Reports Positive FY2023 Q2 Earnings Results on June 30, 2023
August 23, 2023
☀️Earnings Overview
SKYWATER TECHNOLOGY ($NASDAQ:SKYT)’s total revenue for their Q2 FY2023, reported on June 30 2023, rose by 47.2% compared to the same quarter of the previous year, reaching USD 69.8 million. However, their net income decreased from -13.0 million to -8.6 million year over year.
Price History
On June 30th, 2023, SKYWATER TECHNOLOGY reported positive earnings results for the second quarter of FY2023. The reports showed a huge improvement in the company’s profitability and growth. The stock opened on Monday at $10.2 and closed at $9.4, representing a 7.4% decrease from the prior closing price of $10.2. The reports reflect that SKYWATER TECHNOLOGY have seen a substantial growth in earnings, with record high revenue and profits. This growth was driven by the company’s successes in its various product lines, including its renewable energy solutions, IoT, and its smart city technologies. This have allowed the company to increase its presence in the market and open up new opportunities for further growth.
The reports also show that the company has made significant investments in research and development and other key areas, which has helped it to stay ahead of the competition and remain competitive in the market. This has allowed SKYWATER TECHNOLOGY to stay at the forefront of technological innovation and expansion. Overall, SKYWATER TECHNOLOGY’s strong performance in this most recent quarter has been reflective of the company’s commitment to growth and innovation. With its continued investment in research and development, SKYWATER TECHNOLOGY is well placed to continue to grow and develop more successful products and services that will benefit its customers and stakeholders. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Skywater Technology. More…
| Total Revenues | Net Income | Net Margin |
| 253.32 | -22.84 | -8.8% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Skywater Technology. More…
| Operations | Investing | Financing |
| -18.44 | -14.81 | 38.46 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Skywater Technology. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 298.74 | 235.85 | 1.31 |
Key Ratios Snapshot
Some of the financial key ratios for Skywater Technology are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 15.9% | – | -3.8% |
| FCF Margin | ROE | ROA |
| -13.1% | -10.3% | -2.0% |
Analysis
GoodWhale conducted an analysis of SKYWATER TECHNOLOGY‘s financials, and our Star Chart showed that the company has an intermediate health score of 6/10, with its cashflows and debt taken into account. We classify SKYWATER TECHNOLOGY as a ‘cheetah’, meaning that while they have achieved high revenue or earnings growth, their stability is lower due to lower profitability. SKYWATER TECHNOLOGY is strong in growth, medium in asset, and weak in dividend and profitability. Investors who are looking for companies with rapid growth and high potential might be interested in SKYWATER TECHNOLOGY. However, due to the company’s weaker profitability, potential investors should be mindful of the risks associated with investing in a ‘cheetah’ company. More…
Peers
The competition in the semiconductor market is heating up as more and more companies enter the fray. Among them is SkyWater Technology Inc, which is looking to make a name for itself in the industry. It is up against some stiff competition from the likes of Suzhou Oriental Semiconductor Co Ltd, China Chippacking Technology Co Ltd, and Shinko Electric Industries Co Ltd.
– Suzhou Oriental Semiconductor Co Ltd ($SHSE:688261)
Suzhou Oriental Semiconductor Co Ltd is a Chinese company that manufactures semiconductors. The company has a market cap of 18.54B as of 2022 and a Return on Equity of 6.53%. The company’s products are used in a variety of electronic devices, including smartphones, televisions, and computers.
– China Chippacking Technology Co Ltd ($SHSE:688216)
China Chippacking Technology Co Ltd is a leading provider of advanced semiconductor packaging and testing services in China. The company has a market cap of 2.69B as of 2022 and a ROE of 4.17%. China Chippacking Technology Co Ltd offers a full range of packaging and testing services for a wide range of semiconductor devices, including logic, memory, and analog devices. The company’s advanced packaging and testing capabilities enable it to meet the stringent requirements of the most demanding applications.
– Shinko Electric Industries Co Ltd ($TSE:6967)
Shinko Electric Industries Co Ltd is a Japanese company that manufactures and sells electronic components and devices. The company has a market capitalization of 457.28 billion as of 2022 and a return on equity of 26.21%. Shinko Electric Industries Co Ltd manufactures products such as capacitors, resistors, and inductors. The company also sells products such as semiconductors, printed circuit boards, and LCDs.
Summary
SKYWATER TECHNOLOGY reported their FY2023 Q2 earnings results on June 30 2023, with total revenue increasing by 47.2% and net income decreasing to -8.6 million. This resulted in a drop in the stock price for the day. Despite this, investors may still be interested in SKYWATER TECHNOLOGY due to the growth in revenue and potential for future profitability. Analysts are advised to further evaluate the company’s financials and operations before investing.
Additionally, investors should keep an eye on the stock price and performance of SKYWATER TECHNOLOGY in the coming quarters to determine whether the investments may be worthwhile.
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