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Variable Interest Entity (Tables) | 12 Months Ended
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Dec. 29, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Schedule of Condensed Balance Sheets | The following table shows the carrying amounts of assets and liabilities of Oxbow Realty as of December 29, 2024 and December 31, 2023. The assets and liabilities are presented prior to consolidation, and thus do not reflect the elimination of intercompany balances.
| December 29, 2024 |  | December 31, 2023
Cash and cash equivalents | $ | 383 |  |  | $ | 9 |
Accounts receivable | 1,242 |  |  | 8,807 |
Finance receivable | 41,153 |  |  | 40,707 |
Other assets | 107 |  |  | 744 |
Total assets | $ | 42,885 |  |  | $ | 50,267 |
Accounts payable | $ | 1,217 |  |  | $ | 6,053 |
Accrued expenses | 80 |  |  | 248 |
Contract liabilities | 1,078 |  |  | 1,283 |
Debt | 34,634 |  |  | 35,722 |
Total liabilities | $ | 37,009 |  |  | $ | 43,306 |
SKYWATER TECHNOLOGY, INC. (Parent Company Only) Condensed Balance Sheets
| December 29, 2024 |  | December 31, 2023
| (in thousands, except per share data)
Assets |  |  |
Current assets |  |  |
Income tax receivable | $ | — |  |  | $ | 172 |
Total current assets | — |  |  | 172 |
Due from subsidiaries | 27,669 |  |  | 15,352 |
Investment in subsidiaries | 57,614 |  |  | 53,740 |
Deferred income tax asset | — |  |  | 3,419 |
Total assets | $ | 85,283 |  |  | $ | 72,683 |
Liabilities and Shareholders’ Equity |  |  |
Current liabilities |  |  |
Short-term financing, net of unamortized debt issuance costs | $ | 27,669 |  |  | $ | 18,943 |
Total current liabilities | 27,669 |  |  | 18,943 |
Total liabilities | 27,669 |  |  | 18,943 |
Commitments and contingencies (Note 12) |  |  |
Shareholders’ equity |  |  |
Preferred stock, $0.01 par value per share (80,000 shares authorized; zero shares issued and outstanding as of December 29, 2024 and December 31, 2023) | — |  |  | — |
Common stock, $0.01 par value per share (200,000 shares authorized; 47,704 and 47,028 shares issued and outstanding as of December 29, 2024 and December 31, 2023, respectively) | 478 |  |  | 470 |
Additional paid-in capital | 189,132 |  |  | 178,473 |
Accumulated deficit | (131,996) |  |  | (125,203) |
Total shareholders’ equity | 57,614 |  |  | 53,740 |
Total liabilities and shareholders’ equity | $ | 85,283 |  |  | $ | 72,683 |
Schedule of Condensed Income Statements | The following table shows the revenue and expenses of Oxbow Realty for the fiscal years ended December 29, 2024, December 31, 2023, and January 1, 2023. These results of Oxbow Realty are presented prior to consolidation, and thus do not reflect the elimination of intercompany transactions.
| Fiscal Year Ended
| December 29, 2024 |  | December 31, 2023 |  | January 1, 2023
Revenue | $ | 5,700 |  |  | $ | 6,861 |  |  | $ | 5,052 |
General and administrative expenses | 45 |  |  | (90) |  |  | 1,016 |
Interest expense | 1,379 |  |  | 1,252 |  |  | 1,314 |
Income tax expense | — |  |  | 36 |  |  | — |
Total expenses | 1,424 |  |  | 1,198 |  |  | 2,330 |
Net income | $ | 4,276 |  |  | $ | 5,663 |  |  | $ | 2,722 |
SKYWATER TECHNOLOGY, INC. (Parent Company Only) Condensed Statements of Operations
| Fiscal Year Ended
| December 29, 2024 |  | December 31, 2023 |  | January 1, 2023
| (in thousands, except per share data)
Revenue | $ | — |  |  | $ | — |  |  | $ | — |
Operating expenses | — |  |  | — |  |  | — |
Operating income | — |  |  | — |  |  | — |
Other income (expense), net | — |  |  | — |  |  | — |
Loss before income taxes and equity in net loss of subsidiaries | — |  |  | — |  |  | — |
Income tax expense (benefit) | — |  |  | — |  |  | — |
Equity in net loss of subsidiaries | (6,793) |  |  | (30,756) |  |  | (39,593) |
Net loss | $ | (6,793) |  |  | $ | (30,756) |  |  | $ | (39,593) |
Net loss per share attributable to common shareholders, basic and diluted | $ | (0.14) |  |  | $ | (0.68) |  |  | $ | (0.97) |
Weighted average shares outstanding, basic and diluted | 47,396 |  |  | 45,507 |  |  | 40,835 |

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- Definition Tabular disclosure of condensed balance sheet, including, but not limited to, balance sheets of consolidated entities and consolidation eliminations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name Regulation S-X (SX) -Number 210 -Section 12 -Subsection 04 -Paragraph a -Publisher SEC Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3 + Details
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