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Skywater SkyWater Technology Reports Second Quarter 2021 Results Year - over - Year Net Sales Growth of 34 % BLOOMINGTON , Minn . , - August 3 , 2021 SkyWater Technology ( NASDAQ : SKYT ) today announced financial results for the second quarter of 2021 , ended July 4 , 2021 . • Net sales grew 34 % year - over - year to $ 41.2 million • Net loss to shareholders of $ 7.0 million , or ( 17 ) % of net sales Adjusted EBITDA of $ ( 0.8 ) million , or ( 2.0 ) % of net sales " Both our Wafer Services and Advanced Technology Services businesses grew significantly over the prior year , " said SkyWater president and CEO Thomas Sonderman . “ During the quarter , our Wafer Services business expanded aggressively in support of the loT and automotive sectors . We also continued to win new Advanced Technology Services business at a healthy rate bolstering future growth , with several new customer wins in the bio - medical space . Two of our existing customers selected SkyWater for additional technology services at our Florida facility , demonstrating the strategic value that US - based advanced packaging solutions can bring to our customers " SkyWater's Board approved a strategic capital investment of $ 56 million . The majority of this is targeted to expand capacity at the company's Minnesota fab which is expected to increase overall output capacity by at least 40 % and to enable accelerated revenue growth . The remainder is focused on expediting SkyWater's entry into the gallium nitride ( GaN ) market , a promising technology for electric vehicles , 5G , and consumer electronics , among others . Its properties enable higher charging efficiencies , smaller chip size and lighter weight for many applications . Sonderman continued " We believe SkyWater can fill the need for a U.S. - based 200 mm foundry that offers both technology development and scaled manufacturing for GaN - based solutions allowing us to rapidly expand the serviceable market with our unique Technology as a Service SM model driving higher revenue and gross margins for the company over the long term . " Sonderman concluded , “ We are pleased with our year - over - year top line performance and remain confident in our long - term revenue growth target of approximately 25 % for 2021 and beyond . " Q2 2021 Summary : GAAP In USD millions , except per share data Q2 21 Q2 20 Y / Y Q1 21 Q / Q Advanced Technology Services sales $ 26.9 $ 19.9 35 % $ 38.1 ( 29 ) % Wafer Services sales $ 14.3 $ 10.9 31 % $ 10.0 43 % Net sales $ 41.2 $ 30.8 34 % $ 48.1 ( 14 ) % Gross profit $ 1.8 $ 5.5 ( 67 ) % $ 9.2 ( 80 ) % Gross margin 4.4 % 17.8 % ( 1,340 ) bps 19.1 % ( 1,470 ) bps Net loss to shareholders ( $ 7.0 ) ( $ 5.3 ) ( 32 ) % ( $ 2.8 ) ( 148 ) % Basic loss per share $ ( 0.20 ) $ ( 0.29 ) 31 % $ ( 1.04 ) 81 %