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Leases
 12 Months Ended
Dec. 29, 2024
Leases [Abstract]  
Leases Leases
The components of lease expense are as follows:
Fiscal Year Ended
December 29, 2024December 31, 2023
Operating lease cost$51 $51 
Finance lease cost
Amortization of assets913 1,204 
Interest on lease liabilities802 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, 2024December 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 leases802 848 
Financing cash flows used for finance leases646 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, 2024December 31, 2023
Weighted average remaining lease term
Operating leases
1.0 years2.0 years
Finance leases
11.8 years12.5 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:
LeasesClassificationDecember 29, 2024December 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 YearOperating LeasesFinance LeasesTotal
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 payments53 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, 2024December 31, 2023
Operating lease cost$51 $51 
Finance lease cost
Amortization of assets913 1,204 
Interest on lease liabilities802 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, 2024December 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 leases802 848 
Financing cash flows used for finance leases646 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, 2024December 31, 2023
Weighted average remaining lease term
Operating leases
1.0 years2.0 years
Finance leases
11.8 years12.5 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:
LeasesClassificationDecember 29, 2024December 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 YearOperating LeasesFinance LeasesTotal
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 payments53 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.