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Balance Sheet Information | 6 Months Ended
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Jun. 28, 2026
Balance Sheet Information [Abstract] |
Balance Sheet Information | Balance Sheet Information Certain significant amounts included in the Company’s interim condensed consolidated balance sheets are summarized in the following tables:
| Three-Month Period Ended |  | Six-Month Period Ended
Allowance for credit losses - Accounts Receivable | June 28, 2026 |  | June 29, 2025 |  | June 28, 2026 |  | June 29, 2025
Balance at beginning of period | $ | 80 |  |  | $ | 597 |  |  | $ | 80 |  |  | $ | 398 |
Provision for credit losses | — |  |  | (9) |  |  | — |  |  | 346 |
Accounts written off | (64) |  |  | (491) |  |  | (64) |  |  | (619) |
Less recoveries of accounts charged off | — |  |  | 28 |  |  | — |  |  | — |
Balance at end of period | $ | 16 |  |  | $ | 125 |  |  | $ | 16 |  |  | $ | 125 |
Inventory | June 28, 2026 |  | December 28, 2025
Raw materials | $ | 1,481 |  |  | $ | 2,064 |
Work-in-process | 83 |  |  | — |
Supplies and spare parts | 24,668 |  |  | 22,536 |
Total inventory, current | 26,232 |  |  | 24,600 |
Inventory, non-current (1) | 10,300 |  |  | 9,370 |
Total inventory | $ | 36,532 |  |  | $ | 33,970 |
(1)Inventory, non-current consists of spare parts that will not be used within twelve months. Inventory non-current is included in Other assets on the consolidated balance sheet.
Prepaid expenses and other current assets | June 28, 2026 |  | December 28, 2025
Prepaid expenses | $ | 6,186 |  |  | $ | 5,307 |
Tools purchased for customers (1) | 7,452 |  |  | 20,503 |
Deferred contract costs | 2,203 |  |  | 1,459 |
Investment tax credit receivable - current | 1,624 |  |  | — |
Total prepaid assets and other current assets | $ | 17,465 |  |  | $ | 27,269 |
(1)The Company acquires tools for its customers that consist of manufacturing equipment its customers will own but will be installed and qualified in a SkyWater facility. Prior to the customer obtaining ownership and control of the equipment, the Company records the costs associated with the acquisition, installation, and qualification of the equipment within prepaid expenses and other current assets. These deferred costs are recognized as cost of revenue when control of the equipment transfers to the customer and the related tools revenue is recognized.
Property and equipment, net | June 28, 2026 |  | December 28, 2025
Land | $ | 36,596 |  |  | $ | 36,596 |
Buildings and improvements | 163,789 |  |  | 164,752 |
Machinery and equipment (2) | 479,824 |  |  | 456,090 |
Property and equipment placed in service, at cost (1) | 680,209 |  |  | 657,438 |
Less: accumulated depreciation (1) | (204,833) |  |  | (181,737) |
Property and equipment placed in service, net (1) | 475,376 |  |  | 475,701 |
Property and equipment not yet in service | 22,708 |  |  | 36,019 |
Total property and equipment, net | $ | 498,084 |  |  | $ | 511,720 |
(1)Includes $28,683 and $29,651 of cost and $3,895 and $3,974 of accumulated depreciation associated with capital assets subject to financing leases at June 28, 2026 and December 28, 2025, respectively. (2)The cost basis of machinery and equipment reflects the amount of investment tax credits the Company has received, or expects to receive, on new investments in related equipment. For the three-month periods ended June 28, 2026 and June 29, 2025, depreciation expense was $14,182 and $3,973, respectively, and $26,466 and $8,002 for the six-month periods ended June 28, 2026 and June 29, 2025, respectively, substantially all of which was classified as cost of revenue.
Intangible Assets, net | June 28, 2026 |  | December 28, 2025
Software and licensed technology | $ | 20,163 |  |  | $ | 18,758 |
Less: accumulated amortization | (10,119) |  |  | (13,460) |
Intangible assets placed in service, net | 10,044 |  |  | 5,298 |
Intangible assets not yet in service | 3,627 |  |  | 3,870 |
Total intangible assets, net | $ | 13,671 |  |  | $ | 9,168 |
Intangible assets consist primarily of payments made under software and technology licensing arrangements with third parties, in addition to internally developed software costs. For the three-month periods ended June 28, 2026 and June 29, 2025, amortization of software and licenses was $402 and $328, respectively, and $749 and $657 for the six-month periods ended June 28, 2026 and June 29, 2025, respectively. Remaining estimated aggregate annual amortization expense for intangible assets placed in service is as follows for future fiscal years:
Fiscal year |  | Amortization Expense
Remainder of 2026 |  | $ | 1,112 |
2027 |  | 1,805 |
2028 |  | 1,813 |
2029 |  | 1,595 |
2030 |  | 1,562 |
Thereafter |  | 2,157 |
Total |  | $ | 10,044 |
Other Assets | June 28, 2026 |  | December 28, 2025
Inventory, non-current (1) | $ | 10,300 |  |  | $ | 9,370 |
Operating lease right-of-use assets | 262 |  |  | — |
Investment tax credit receivable - non-current | 19,349 |  |  | 10,230 |
Other assets | 1,085 |  |  | 223 |
Total other assets | $ | 30,996 |  |  | $ | 19,823 |
(1)Inventory, non-current consists of spare parts that will not be used within twelve months.
Accrued Expenses | June 28, 2026 |  | December 28, 2025
Accrued compensation | $ | 25,675 |  |  | $ | 11,248 |
Accrued commissions | 320 |  |  | 390 |
Accrued royalties | 477 |  |  | 1,815 |
Current portion of operating lease liabilities | 37 |  |  | — |
Current portion of finance lease liabilities | 2,280 |  |  | 2,203 |
Accrued inventory (2) | 7,422 |  |  | 2,233 |
Accrued warranty | 536 |  |  | 1,131 |
Accrued vendor purchase commitments (1) | 10,318 |  |  | 14,094 |
Accrued accounts payable | 11,953 |  |  | 15,041 |
Accrued utilities | 1,296 |  |  | 1,208 |
Other accrued expenses | 4,129 |  |  | 7,249 |
Total accrued expenses | $ | 64,443 |  |  | $ | 56,612 |
(1)The Company accrues outstanding obligations on vendor purchase orders for goods or services provided to the Company for which invoices have not yet been received. (2)The Company accrues outstanding obligations on uninvoiced receipts of inventory and inventory in transit.
| Three-Month Period Ended |  | Six-Month Period Ended
Accrued provisions for warranties | June 28, 2026 |  | June 29, 2025 |  | June 28, 2026 |  | June 29, 2025
Beginning accrued warranty balance | $ | 998 |  |  | $ | 2,687 |  |  | $ | 1,131 |  |  | $ | 3,752 |
Warranty expense | 462 |  | 582 |  | 594 |  | 821
Warranty credits | (924) |  |  | (1,130) |  |  | (1,189) |  |  | (2,434) |
Ending accrued warranty balance | $ | 536 |  |  | $ | 2,139 |  |  | $ | 536 |  |  | $ | 2,139 |
Other long-term liabilities | June 28, 2026 |  | December 28, 2025
Finance lease obligations | $ | 25,916 |  |  | $ | 24,859 |
Other | 968 |  |  | 369 |
Liability for uncertain tax positions | 69 |  |  | 69 |
Total other long-term liabilities | $ | 26,953 |  |  | $ | 25,297 |

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