SkyWater Technology reported fiscal year 2025 revenues of 442.1 million, a 29 percent increase compared to the previous year, along with a 57 percent increase in Adjusted EBITDA to 53.2 million. These results indicate substantial growth for the U.S.-based semiconductor foundry. The company attributes this success to increased demand for domestic semiconductor manufacturing, especially in sectors requiring reliable, mature technologies for critical infrastructure and defense applications. SkyWater leadership stated that these results represent momentum, emphasizing a commitment to expanding capacity and strategic relevance within the American semiconductor ecosystem. With advanced packaging and quantum computing initiatives gaining traction, including over 30 percent revenue growth in quantum-related programs, SkyWater is positioning itself as a key supplier of foundational technologies and a partner for future innovation.
Record 2025 Revenues and Strategic Growth Momentum
SkyWater Technology concluded fiscal year 2025 with record revenues of 442.1 million, a 29% increase compared to the prior year, signaling a period of accelerated growth and strategic positioning within the increasingly vital domestic semiconductor industry. This financial performance, coupled with record gross profit, net income to shareholders, and an Adjusted EBITDA of 53.2 million, a 57% jump, demonstrates a clear trajectory of momentum for the company. The significance of these results extends beyond the balance sheet; they underscore a strengthening of American semiconductor manufacturing capabilities at a time of heightened geopolitical and economic sensitivity. The company’s success is particularly notable given broader supply chain vulnerabilities and the critical need for secure, domestic sources of foundational technologies.
Semiconductors, as CEO Thomas Sonderman articulated, “are the new steel,” forming the bedrock of defense systems, energy infrastructure, transportation networks, and medical devices. SkyWater’s focus on mature, proven technologies, essential for reliable operation in demanding applications like vehicle braking systems and aircraft guidance, positions it as a key player in ensuring the resilience of these critical sectors. This commitment to foundational technologies is a deliberate strategy; the company simultaneously invests in developing transformative technologies like advanced packaging and quantum computing, recognizing the need for both present-day reliability and future innovation. Expansion of quantum computing programs to eight active customer engagements in 2025 drove a 30% increase in quantum-related revenue, highlighting the company’s ability to capitalize on emerging technologies.
Advanced packaging, described as “the essential layer that enables systems to become smarter, smaller, and more robust,” is another area of significant investment, with facilitization in Florida progressing ahead of schedule and exceeding expectations for both ATS and tools revenue. A pivotal moment in scaling capacity came with the June 30, 2025, acquisition of Infineon’s Fab 25 in Austin, Texas, a move that not only increased 200mm capacity but also established SkyWater as the largest U.S. semiconductor foundry without foreign controlling ownership. Fab 25 contributed 175.6 million to revenue in its first two quarters under SkyWater’s ownership, surpassing initial projections across multiple financial metrics. According to company statements, this expanded capacity allows the company to accelerate commercialization pathways for critical technologies, provide greater supply assurance for defense and industrial programs, and support higher-volume foundational-node production domestically.
This strategic growth is further reinforced by recent policy shifts, including Section 232 executive action, which recognizes the essential role of semiconductors in U.S. economic and national security. The company is well-positioned to benefit from a growing emphasis on onshore manufacturing for mission-critical systems, offering a balanced strategy of bolstering foundational-node production while simultaneously commercializing next-generation technologies. Sonderman concludes that “2026 is a defining year for how America secures the silicon foundation of its critical systems,” and SkyWater intends to be at the center of that effort.
Infineon Fab 25 Acquisition Expands 200mm Capacity
While larger wafer sizes receive considerable attention, 200mm facilities remain vital for a broad range of applications demanding established, reliable technologies, including automotive safety systems, industrial automation, and critical defense components. This move positions SkyWater as a key player in securing the supply chain for these foundational technologies, a sector increasingly recognized for its national security implications. The acquisition was not merely about increasing volume; it fundamentally altered SkyWater’s scale and capabilities, allowing for a more comprehensive approach to customer needs, from initial development through to high-volume production. The impact of integrating Fab 25 was immediately apparent in SkyWater’s financial performance, validating the strategic rationale behind the purchase and SkyWater’s ability to rapidly integrate and optimize the acquired facility.
Beyond the immediate financial gains, the acquisition propelled SkyWater to become the largest U.S. semiconductor foundry “free of foreign controlling ownership,” a distinction gaining prominence amidst geopolitical considerations and a growing emphasis on resilient supply chains. This expanded capacity directly addresses a critical need for greater domestic production, particularly for applications where security and reliability are paramount. SkyWater’s approach extends beyond simply increasing manufacturing volume. The company is actively leveraging the Fab 25 infrastructure to bolster its Technology-as-a-Service (TaaS) model, a unique offering that partners with customers to translate innovative designs into manufacturable products while safeguarding intellectual property. The company states that it partners with customers to translate innovation into manufacturable reality, while its infrastructure and firewalls ensure that intellectual property is protected, compartmentalized, and secure. SkyWater has established licensing partnerships with Infineon, enabling secure onshore commercialization of proven mixed-signal IP and capabilities. This balanced strategy, combining foundational-node production with next-generation technologies in advanced packaging and quantum manufacturing, positions SkyWater to capitalize on both current market demands and emerging opportunities.
As policymakers continue to prioritize secure supply chains and domestic production, foundational-node manufacturing is increasingly recognized as essential to national resiliency.
Technology-as-a-Service Drives Quantum and Packaging Advances
SkyWater Technology is actively reshaping domestic semiconductor manufacturing through a focused Technology-as-a-Service (TaaS) model, particularly in the rapidly evolving fields of advanced packaging and quantum computing. Beyond reporting record revenues of 442.1 million for fiscal year 2025, a 29% year-over-year increase, the company is strategically positioning itself to capitalize on the growing demand for secure, U.S.-based semiconductor production. This commitment extends beyond mature technologies, encompassing the development and scaling of next-generation capabilities. In 2025, the company expanded to eight active customer programs in quantum computing, building on existing collaborations and achieving over 30% growth in quantum-related TaaS revenue. These partnerships are not limited to a single approach; they are advancing “diverse quantum approaches across various distinct technological modalities, from prototype to scalable, secure, U.S.-based production.” The emphasis on advanced packaging is equally significant, addressing a critical bottleneck in the creation of smarter, smaller, and more robust systems.
SkyWater recognizes that domestic capacity in this area is currently limited and vulnerable, and is proactively building onshore solutions integrated with its TaaS model. Facilitization in Florida progressed ahead of schedule and exceeded expectations for both ATS and tools revenue.
Semiconductors: A Foundation for National Strength
Semiconductors are the new steel. America’s strength, in defense, infrastructure, industry, and daily life, depends on silicon, which forms the backbone of our most critical systems.
Semiconductors are the new steel. America’s strength – in defense, infrastructure, industry, and daily life-depends on silicon, which forms the backbone of our most critical systems.
