Revenue in the second quarter is estimated to be in the range of $41 million to $41.5 million, while analysts were expecting the semiconductor company to generate $50 million in sales. That should result in a net loss of $7 million to $8 million, with an adjusted EBITDA loss of $500,000 to $1.5 million. SkyWater completed its IPO during the quarter, raising $112 million in capital.
SkyWater is planning to invest $56 million in order to expand manufacturing capacity of its gallium nitride (GaN) technology.
"These strategic investments evidence our commitment to our customers to co-create emerging technologies and help ensure we are in position to deliver long-term value to our shareholders," CEO Thomas Sonderman added. "We believe our investment in GaN technologies -- which expand possibilities for next generation microelectronics -- enhances SkyWater's position for leadership in the aerospace and defense, industrial and automotive markets."
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