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Leases | 12 Months Ended
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Dec. 29, 2024
Leases [Abstract] |
Leases | Leases The components of lease expense are as follows:
| Fiscal Year Ended
| December 29, 2024 |  | December 31, 2023
Operating lease cost | $ | 51 |  |  | $ | 51 |
Finance lease cost |  |  |
Amortization of assets | 913 |  |  | 1,204 |
Interest on lease liabilities | 802 |  |  | 848 |
Total net lease cost | $ | 1,766 |  |  | $ | 2,103 |
Short-term lease costs amounted to $0 and $23 for the fiscal years ended December 29, 2024 and December 31, 2023, respectively. Supplemental cash flow information related to leases are as follows:
| Fiscal Year Ended
| December 29, 2024 |  | December 31, 2023
Cash paid for amounts included in the measurement of lease liabilities |  |  |
Operating cash flows used for operating leases | $ | 51 |  |  | $ | 49 |
Operating cash flows used for finance leases | 802 |  |  | 848 |
Financing cash flows used for finance leases | 646 |  |  | 935 |
ROU assets obtained in exchange for lease liabilities |  |  |
Operating leases | — |  |  | — |
Finance leases | — |  |  | 811 |
The weighted average remaining lease term and weighted average discount rates related to leases are as follows:
| December 29, 2024 |  | December 31, 2023
Weighted average remaining lease term |  |  |
Operating leases | 1.0 years |  | 2.0 years
Finance leases | 11.8 years |  | 12.5 years
Weighted average discount rate |  |  |
Operating leases | 4.8% |  | 4.8%
Finance leases | 8.8% |  | 8.7%
Supplemental balance sheet information related to leases is as follows:
Leases |  | Classification |  | December 29, 2024 |  | December 31, 2023
Assets |  |  |  |  |  |
Operating lease ROU assets |  | Other assets |  | $ | 49 |  |  | $ | 96 |
Finance lease ROU assets |  | Property and equipment, net |  | 8,443 |  |  | 9,356 |
Total lease ROU assets |  |  |  | 8,492 |  |  | 9,452 |
Operating lease liabilities |  |  |  |  |  |
Current portion of operating lease liabilities |  | Accrued expenses |  | 52 |  |  | 48 |
Operating lease liabilities, excluding current portion |  | Other long-term liabilities |  | — |  |  | 52 |
Total operating lease liabilities |  |  |  | 52 |  |  | 100 |
Finance lease liabilities |  |  |  |  |  |
Current portion of finance lease liabilities |  | Accrued expenses |  | 608 |  |  | 645 |
Finance lease liabilities, excluding current portion |  | Other long-term liabilities |  | 8,652 |  |  | 9,275 |
Total finance lease liabilities |  |  |  | 9,260 |  |  | 9,920 |
Total lease liabilities |  |  |  | $ | 9,312 |  |  | $ | 10,020 |
Future maturities of lease liabilities as of December 29, 2024 are as follows:
Fiscal Year |  | Operating Leases |  | Finance Leases |  | Total
2025 |  | $ | 53 |  |  | $ | 1,353 |  |  | $ | 1,406 |
2026 |  | — |  |  | 1,354 |  |  | 1,354 |
2027 |  | — |  |  | 1,341 |  |  | 1,341 |
2028 |  | — |  |  | 1,135 |  |  | 1,135 |
2029 |  | — |  |  | 1,135 |  |  | 1,135 |
Thereafter |  | — |  |  | 8,551 |  |  | 8,551 |
Total lease payments |  | 53 |  |  | 14,869 |  |  | 14,922 |
Less: Imputed interest |  | (1) |  |  | (5,609) |  |  | (5,610) |
Total lease liabilities |  | $ | 52 |  |  | $ | 9,260 |  |  | $ | 9,312 |
SkyWater as the Lessor In March 2020, SkyWater executed a contract with a customer that includes an operating lease for the right to use a specified portion of the Company’s Minnesota facility to produce wafers using the customer’s equipment. The contractual amount that relates to revenue from an operating lease was $21,000, and is being recognized over the estimated lease term of 4.5 years. The total amount was prepaid by the customer and recorded as deferred revenue - see Note 4 – Revenue.
Leases | Leases The components of lease expense are as follows:
| Fiscal Year Ended
| December 29, 2024 |  | December 31, 2023
Operating lease cost | $ | 51 |  |  | $ | 51 |
Finance lease cost |  |  |
Amortization of assets | 913 |  |  | 1,204 |
Interest on lease liabilities | 802 |  |  | 848 |
Total net lease cost | $ | 1,766 |  |  | $ | 2,103 |
Short-term lease costs amounted to $0 and $23 for the fiscal years ended December 29, 2024 and December 31, 2023, respectively. Supplemental cash flow information related to leases are as follows:
| Fiscal Year Ended
| December 29, 2024 |  | December 31, 2023
Cash paid for amounts included in the measurement of lease liabilities |  |  |
Operating cash flows used for operating leases | $ | 51 |  |  | $ | 49 |
Operating cash flows used for finance leases | 802 |  |  | 848 |
Financing cash flows used for finance leases | 646 |  |  | 935 |
ROU assets obtained in exchange for lease liabilities |  |  |
Operating leases | — |  |  | — |
Finance leases | — |  |  | 811 |
The weighted average remaining lease term and weighted average discount rates related to leases are as follows:
| December 29, 2024 |  | December 31, 2023
Weighted average remaining lease term |  |  |
Operating leases | 1.0 years |  | 2.0 years
Finance leases | 11.8 years |  | 12.5 years
Weighted average discount rate |  |  |
Operating leases | 4.8% |  | 4.8%
Finance leases | 8.8% |  | 8.7%
Supplemental balance sheet information related to leases is as follows:
Leases |  | Classification |  | December 29, 2024 |  | December 31, 2023
Assets |  |  |  |  |  |
Operating lease ROU assets |  | Other assets |  | $ | 49 |  |  | $ | 96 |
Finance lease ROU assets |  | Property and equipment, net |  | 8,443 |  |  | 9,356 |
Total lease ROU assets |  |  |  | 8,492 |  |  | 9,452 |
Operating lease liabilities |  |  |  |  |  |
Current portion of operating lease liabilities |  | Accrued expenses |  | 52 |  |  | 48 |
Operating lease liabilities, excluding current portion |  | Other long-term liabilities |  | — |  |  | 52 |
Total operating lease liabilities |  |  |  | 52 |  |  | 100 |
Finance lease liabilities |  |  |  |  |  |
Current portion of finance lease liabilities |  | Accrued expenses |  | 608 |  |  | 645 |
Finance lease liabilities, excluding current portion |  | Other long-term liabilities |  | 8,652 |  |  | 9,275 |
Total finance lease liabilities |  |  |  | 9,260 |  |  | 9,920 |
Total lease liabilities |  |  |  | $ | 9,312 |  |  | $ | 10,020 |
Future maturities of lease liabilities as of December 29, 2024 are as follows:
Fiscal Year |  | Operating Leases |  | Finance Leases |  | Total
2025 |  | $ | 53 |  |  | $ | 1,353 |  |  | $ | 1,406 |
2026 |  | — |  |  | 1,354 |  |  | 1,354 |
2027 |  | — |  |  | 1,341 |  |  | 1,341 |
2028 |  | — |  |  | 1,135 |  |  | 1,135 |
2029 |  | — |  |  | 1,135 |  |  | 1,135 |
Thereafter |  | — |  |  | 8,551 |  |  | 8,551 |
Total lease payments |  | 53 |  |  | 14,869 |  |  | 14,922 |
Less: Imputed interest |  | (1) |  |  | (5,609) |  |  | (5,610) |
Total lease liabilities |  | $ | 52 |  |  | $ | 9,260 |  |  | $ | 9,312 |
SkyWater as the Lessor In March 2020, SkyWater executed a contract with a customer that includes an operating lease for the right to use a specified portion of the Company’s Minnesota facility to produce wafers using the customer’s equipment. The contractual amount that relates to revenue from an operating lease was $21,000, and is being recognized over the estimated lease term of 4.5 years. The total amount was prepaid by the customer and recorded as deferred revenue - see Note 4 – Revenue.

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- Definition The entire disclosure for finance leases of lessee. Includes, but is not limited to, description of lessee's finance lease and maturity analysis of finance lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
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