v3.25.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 30, 2025
Dec. 29, 2024
Current assets    
Cash and cash equivalents $ 51,234 $ 18,844
Accounts receivable (net of allowance for credit losses of $597 and $279, respectively) 39,108 54,332
Contract assets (net of allowance for credit losses of $16 and $42, respectively) 20,466 20,890
Inventory 14,221 14,535
Prepaid expenses and other current assets 25,322 23,476
Total current assets 150,351 132,077
Property and equipment, net 162,842 165,431
Intangible assets, net 7,786 7,779
Other assets 5,784 8,488
Total assets 326,763 313,775
Current liabilities    
Current portion of long-term debt 4,941 5,073
Accounts payable 11,691 29,590
Accrued expenses 27,942 36,829
Short-term financing, net of unamortized debt issuance costs 21,535 27,669
Contract liabilities 61,215 55,166
Total current liabilities 127,324 154,327
Long-term liabilities    
Long-term debt, less current portion and net of unamortized debt issuance costs 33,693 34,704
Long-term contract liabilities 97,264 51,901
Deferred income tax liability, net 603 632
Other long-term liabilities 8,443 8,721
Total long-term liabilities 140,003 95,958
Total liabilities 267,327 250,285
Commitments and contingencies (Note 10)
Shareholders’ equity    
Preferred stock, $0.01 par value per share (80,000 shares authorized; zero shares issued and outstanding as of March 30, 2025 and December 29, 2024) 0 0
Common stock, $0.01 par value per share (200,000 shares authorized; 48,037 and 47,704 shares issued and outstanding as of March 30, 2025 and December 29, 2024, respectively) 484 478
Additional paid-in capital 192,264 189,132
Accumulated deficit (139,341) (131,996)
Total shareholders’ equity, SkyWater Technology, Inc. 53,407 57,614
Noncontrolling interests 6,029 5,876
Total shareholders’ equity 59,436 63,490
Total liabilities and shareholders’ equity $ 326,763 $ 313,775