SkyWater revenue surges 162% on Fab 25 acquisition, but control weaknesses worsen to plural

Filed May 8, 2026 · Period ending March 29, 2026 · Compared to 10-Q May 8, 2025 · ~1 min read

Key Changes

• high

  Internal control material weaknesses increased from one to multiple, with management removing prior disclosure of compensating procedures used to ensure financial statement reliability.

  Controls & Procedures verify on EDGAR →
• high

  Revenue jumped 162% to $160.7M driven by $86.3M from newly-acquired Fab 25 facility in Austin, though net loss widened 68% to $12.3M on higher interest expense and $3.7M in IonQ transaction costs.

  MD&A: Results of Operations verify on EDGAR →
• high

  IonQ acquisition agreement signed in January 2026, expected to close Q2-Q3 2026 pending regulatory approval; transaction prohibits new share issuances under ATM program without IonQ consent.

  MD&A: Pending Acquisition verify on EDGAR →