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Reportable Segment and Geographic Information
 12 Months Ended
Dec. 29, 2024
Segment Reporting [Abstract]  
Reportable Segment and Geographic Information Reportable Segment and Geographic Information
Reportable segments are identified as components of an enterprise about which separate financial information is available for evaluation by the chief operating decision maker (“CODM”) in making decisions regarding resource allocation and assessing performance. SkyWater operates and manages its business as one operating and reportable segment based on the organizational structure of the Company and information reviewed by the Company's Chief Executive Officer, who is also the Company's CODM. The CODM allocates resources and evaluates the performance primarily based on net loss and consolidated results as shown on the consolidated statement of operations.

Please see Note 3 - Summary of Significant Accounting Policies for a detailed description of accounting policies used by the Company. The measure of segment assets is reported on the consolidated balance sheet as total consolidated assets.

The following tables present details of the Company’s operating and reportable segment results:

Fiscal Year Ended
December 29, 2024December 31, 2023January 1, 2023
(in thousands, except per share data)
Revenue
$342,269 $286,682 $212,941 
Cost of revenue
Labor79,430 84,362 66,010 
Direct expenses102,597 102,277 94,668 
Cost of tool revenue 73,281 12,760 — 
Depreciation and amortization
17,335 27,991 26,296 
Total cost of revenue 272,643227,390186,974
Gross profit 69,62659,29225,967
Research and development expense
15,040 10,169 9,431 
Selling, general, and administrative expense
Labor24,582 25,726 20,030 
Direct expenses23,015 37,899 26,216 
Depreciation and amortization429 286 57 
Total selling, general, and administrative expense$48,026 $63,911 $46,303 
Operating income (loss)6,560 (14,788)(29,767)
Other expense:
Loss on debt extinguishment— — 1,101 
Interest expense8,837 10,826 5,194 
Total other expense
$8,837 $10,826 $6,295 
Loss before income taxes
(2,277)(25,614)(36,062)
Income tax expense (benefit)240 (521)809 
Net loss
$(2,517)$(25,093)$(36,871)
The following table discloses revenue for the fiscal years ended December 29, 2024, December 31, 2023, and January 1, 2023 by country as determined by customer address:
Fiscal Year Ended
December 29, 2024December 31, 2023January 1, 2023
United States$329,049 $261,274 $184,908 
Canada8,197 8,327 4,135 
Hong Kong878 6,406 6,181 
United Kingdom1,078 4,639 7,147 
All others3,067 6,036 10,570 
Total revenue
$342,269 $286,682 $212,941 



All of the Company's long-lived assets are located in the United States.
For the fiscal year ended December 29, 2024, two customers represented 10% or more of consolidated revenue, comprising 40% and 20% of consolidated revenue. For the fiscal year ended December 31, 2023, four customers represented 10% or more of consolidated revenue, comprising 24%, 17%, 15% and 10% of consolidated revenue. For the fiscal year ended January 1, 2023, three customers represented 10% or more of consolidated revenue, comprising 20%, 28% and 11% of consolidated revenue.