SkyWater looks to fanout packaging
US speciality chip maker SkyWater Technology is looking to boost its fanout packaging technology as a new service.
The company saw Q2 revenues grow 34% year-over-year to a record $93.3, although the gross margin decreased to 18.3% compared to 23.9% in Q2 2023 leading to income $8.1m, down from $10.3m and an overall loss of $1.9m.
The company is seeing more customers buying capacity in its 200mm fab, particularly for its 130nm process. It is also taken delivery of its first fan-out wafer-level packaging tool to SkyWater Florida for an expected 2025 ramp of an advanced packaging service offering. The company has applied for funding under the US CHIPS Act.
“Continued strong results for our unique and differentiated Advanced Technology Services business, coupled with record levels of customer-funded CapEx, drove another record revenue quarter and positive non-GAAP EPS,” said Thomas Sonderman, SkyWater Chief Executive Officer.
“With continued progress in efficiency gains, our second quarter results are indicative of the new revenue baseline required to support future profitability and positive cash flow from operations as we move into next year and beyond. With our revenue outlook for the underlying business remaining relatively consistent as we have progressed through 2024, our customers’ commitments to fund the technical capabilities and capacity that will support future growth have continued to expand further.
The core of the company is the Advanced Technology Service (ATS), where development revenue exceeded expectations to reach a new record in Q2 of $61.7m for multiple aerospace and defense programs.
The company also has an ATS collaboration with Quantum-Si on In next-generation medical applications and is moving their baseline technology to the Wafer Services in the fab.
The recent installation of Multibeam’s high-productivity, direct-write e-beam patterning system is a key development supporting its Technology as a Service business model. This enables advanced lithography capability from early-concept prototyping through the production ramp.
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