The acquisition closed on July 31, 2026 (SEC 8-K 2.01). Its last closing price was on July 30, 2026. It has left the AI-ranked universe. The score and rank below are its final ones, from July 1, 2026. Source: SEC 8-K 2.01
SkyWater Technology, LLC SKYT
NasdaqSmall CapTechnology
Final 13F Pro quality score
Final rank #1,003 of 2,856 · as of July 1, 2026TOP 50%
AI-extracted from the 10-Q filed 2026-08-07 — Q2 FY2026 (quarter ended June 28, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.
SkyWater's Q2 2026 revenue rose 165% to $156.4M, driven by the Fab 25 (SkyWater Texas) acquisition, while the company remains loss-making and the IonQ merger closed July 31, 2026.
Biggest Revenue Drivers
ATS development$63.2M+20% YoY
Primarily driven by a $30.0M increase in the advanced compute industry, partially offset by a $20.5M decline in aerospace and defense revenue.
Tools$1.8M+72% YoY
Driven by the ramp up of the Florida facility.
Biggest Revenue Drivers
Total revenue: $156.4M+165% YoY
ATS development$63.2M+20% YoY
Primarily driven by a $30.0M increase in the advanced compute industry, partially offset by a $20.5M decline in aerospace and defense revenue.
Tools$1.8M+72% YoY
Driven by the ramp up of the Florida facility.
Largest Expense Items
Cost of revenue$121.2M+152% YoY
Primarily driven by $69.9M higher costs from inclusion of Fab 25 operations following the acquisition.
Selling, general, and administrative expense$27.6M+97% YoY
Includes $5.5M of Fab 25 operations, $2.7M higher retention-related bonus, $2.5M higher legal expense tied to the IonQ acquisition, and $1.1M contract breakage fees.
Interest expense$7.0M+331% YoY
Result of higher average borrowings under the revolving credit facility following the capacity increase tied to the Fab 25 acquisition, plus $1.0M from the new Tool Financing Loan.
Margins: Gross profit rose to $35.2M from $10.9M, with gross margin improving to roughly 23% from 18%, though the filing attributes margin gains partly to lower supplier pricing and higher R&D allocations. Operating income turned positive at $1.9M versus a $6.5M loss a year earlier.
Watch Items from the Filing
Two customers accounted for 72% of Q2 2026 revenue in aggregate; one customer represents 65% of accounts receivable at June 28, 2026.
Net loss attributable to SkyWater was $6.4M for the quarter; the company reports material weaknesses in revenue accounting and Fab 25 account reconciliation.
Q2 included $7.5M of non-cash revenue from the off-market Supply Agreement component recorded in purchase accounting.
Revolver borrowings of $192.3M at an 8.0% rate; the IonQ merger repaid and terminated the Amended Loan Agreement effective July 31, 2026.
AI-extracted and verified against SEC EDGAR filing text. Not investment advice.
Goetz Dennis JDirectorDisposition to issuer · Jul 31, 2026
Daly EdwardDirectorDisposition to issuer · Jul 31, 2026
Humke Joseph JDirectorDisposition to issuer · Jul 31, 2026
LaFrence Andrew D.C.DirectorDisposition to issuer · Jul 31, 2026
Miller Tammy JDirectorDisposition to issuer · Jul 31, 2026
Baxter Timothy EDirectorDisposition to issuer · Jul 31, 2026
About SkyWater Technology, LLC (SKYT): stock profile, AI score and financials
Acquired by IonQ, Inc.: SkyWater Technology, LLC (SKYT) no longer trades and has left 13F Pro's AI-ranked universe. The acquisition closed on July 31, 2026 (SEC 8-K 2.01). Its last closing price was on July 30, 2026. It has left the AI-ranked universe. The score and rank below are its final ones, from July 1, 2026. SkyWater Technology, LLC (SKYT) stock profile, AI quality score, and SEC EDGAR financial data, a Technology sector company. 13F Pro tracks SKYT using direct SEC EDGAR data and AI-powered research tools. Based on the latest XBRL financial filings (Q2 2026), SkyWater Technology, LLC reports quarterly revenue of $156.4M, net income of $-6.4M, an operating margin of 1.2%. Top institutional holders of SKYT by reported 13-F value include BALYASNY ASSET MANAGEMENT L.P., BlackRock, STATE STREET, based on the most recent SEC filings. SKYT trades on the Nasdaq exchange and files with the SEC under CIK 1819974. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate SKYT daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for SkyWater Technology, LLC directly from SEC EDGAR.