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SkyWater (SKYT) investor relations material
SkyWater Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Revenue grew 165% year-over-year in Q2 2026 to $156.4M, driven by the Fab 25 acquisition and expansion in advanced compute markets.
Net loss narrowed to $6.4M in Q2 2026 from $10.0M in Q2 2025, reflecting improved gross profit and operational leverage.
The company was acquired by IonQ on July 31, 2026, resulting in delisting from Nasdaq and repayment of all outstanding revolving credit facility debt.
Financial highlights
Q2 2026 revenue: $156.4M (Q2 2025: $59.1M); H1 2026 revenue: $317.1M (H1 2025: $120.4M).
Q2 2026 gross profit: $35.2M (Q2 2025: $10.9M); H1 2026 gross profit: $67.4M (H1 2025: $25.2M).
Q2 2026 net loss: $6.4M (Q2 2025: $10.0M); H1 2026 net loss: $18.7M (H1 2025: $17.3M).
Adjusted EBITDA for Q2 2026: $28.7M (Q2 2025: $2.3M); H1 2026: $41.6M (H1 2025: $6.4M).
Cash and cash equivalents at June 28, 2026: $12.6M; Revolver balance: $192.3M, with $50.0M available.
Outlook and guidance
Management expects customer-funded capital investment to remain a key growth driver.
The company anticipates sufficient liquidity for at least the next twelve months, supported by cash on hand and available credit.
Ongoing expansion in advanced compute and modernization efforts at the Minnesota facility, with potential CHIPS Act funding pending.
- Record Q2 revenue and positive non-GAAP EPS highlight strong ATS and Tools growth.SKYT
Q2 20249 Jul 2026 - Record revenue, customer-funded CapEx, and innovation drive higher-margin growth.SKYT
27th Annual ICR Conference 20258 Jul 2026 - Q3 2025 outperformed guidance, with quantum and Texas growth fueling a robust 2026 outlook.SKYT
28th Annual Needham Growth Conference Virtual8 Jul 2026 - Directors were elected and KPMG LLP was ratified as auditor, with no other business raised.SKYT
AGM 202610 Jun 2026 - Q1 2026 revenue jumped 162% to $160.7M, but net loss widened to $12.3M amid Fab 25 integration.SKYT
Q1 20268 May 2026 - Merger agreement with IonQ, Inc. approved by majority vote; no stockholder questions received.SKYT
AGM 20268 May 2026 - Annual meeting to vote on directors, auditor, and address merger with IonQ.SKYT
Proxy filing27 Apr 2026 - Vote on nine directors and auditor ratification at the June 2026 virtual annual meeting.SKYT
Proxy filing27 Apr 2026 - Stockholders to vote on IonQ's acquisition of SkyWater for cash and IonQ shares, with board support.SKYT
Proxy filing31 Mar 2026
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