XML 37 R25.htm IDEA: XBRL DOCUMENT v3.24.3
Balance Sheet Information (Tables)
 9 Months Ended
Sep. 29, 2024
Balance Sheet Information [Abstract]  
Schedule of Allowance for Credit Loss on Accounts Receivable
Allowance for credit losses - accounts receivable
Three-Month Period EndedNine-Month Period Ended
September 29,
2024		October 1,
2023		September 29,
2024		October 1,
2023
Balance at beginning of period$433 $4,209 $180 $1,638 
Add
Adoption of Credit Loss Standard (Topic 326)— — — 168 
Provision for credit losses66 490 319 4,113 
Deduct
Accounts written-off121 — 121 1,220 
Less recoveries of accounts charged-off— — — — 
Net account charge-offs (recoveries)121 — 121 1,220 
Balance at end of period$378 $4,699 $378 $4,699 
Schedule of Contract Assets, Allowance for Credit Loss
Allowance for credit losses - contract assets
Three-Month Period EndedNine-Month Period Ended
September 29, 2024October 1,
2023		September 29,
2024		October 1,
2023
Balance at beginning of period$49 $186 $99 $— 
Add
Adoption of Credit Loss Standard (Topic 326)— — — 207 
Provision for credit losses(7)41 (57)20 
Deduct
Accounts written-off— — — — 
Less recoveries of accounts charged-off— — — — 
Net account charge-offs (recoveries)— — — — 
Balance at end of period$42 $227 $42 $227 
Schedule of Inventory
Inventory
September 29, 2024December 31, 2023
Raw materials$3,365 $4,775 
Work-in-process1,612 19 
Supplies and spare parts9,452 10,547 
Total inventory, current
14,429 15,341 
Inventory, non-current (1)
4,353 3,293 
Total inventory$18,782 $18,634 
__________________
(1)Inventory, non-current consists of spare parts that will not be used within twelve months following the date of the interim condensed consolidated balance sheets.
Schedule of Prepaid Expenses and Other Current Assets
Prepaid expenses and other current assets
September 29, 2024December 31, 2023
Prepaid expenses$3,123 $2,663 
Tools purchased for customers (1)
10,546 12,737 
Deferred contract costs1,458 1,453 
Total prepaid assets and other current assets$15,127 $16,853 
__________________
(1)The Company acquires tools for its customers that, while owned by our customers, are installed and qualified in a SkyWater facility. Prior to the customer obtaining ownership and control of a tool, the Company records costs incurred prior to completing the qualification of the tool, including tool acquisition costs, tool installation costs, and tool qualification costs, within prepaid expenses and other current assets. These deferred costs are recognized as cost of tools revenue when control of the tool is transferred to the customer and associated tools revenue is recognized.
Schedule of Property and Equipment, Net
Property and equipment, net
September 29, 2024December 31, 2023
Land$5,396 $5,396 
Buildings and improvements89,207 88,782 
Machinery and equipment199,702 193,977 
Property and equipment placed in service, at cost (1)294,305 288,155 
Less: accumulated depreciation (1)
(145,688)(137,767)
Property and equipment placed in service, net (1)148,617 150,388 
Property and equipment not yet in service
14,355 8,979 
Total property and equipment, net$162,972 $159,367 
__________________
(1)Includes $10,805 and $13,332 of cost and $2,172 and $3,976 of accumulated depreciation associated with capital assets subject to financing leases at September 29, 2024 and December 31, 2023, respectively.
Schedule of Intangible Assets
Intangible assets, net
September 29, 2024December 31, 2023
Software and licensed technology$13,344 $12,148 
Less: accumulated amortization
(7,541)(6,476)
Intangible assets placed in service, net5,803 5,672 
Intangible assets not yet in service
1,417 — 
Total intangible assets, net$7,220 $5,672 
Schedule of Remaining Estimated Aggregate Annual Amortization Expense
Remaining estimated aggregate annual amortization expense for intangible assets placed in service is as follows for future fiscal years:
Amortization
Expense
Remainder of 2024$317 
20251,262 
2026981 
2027598 
2028598 
Thereafter2,047 
Total future intangible asset amortization expense
$5,803 
Schedule of Other Assets
Other assets
September 29, 2024December 31, 2023
Inventory, non-current (1)
$4,353 $3,293 
Operating lease right-of-use assets61 96 
Other assets492 1,953 
Total other assets$4,906 $5,342 
__________________
(1)Inventory, non-current consists of spare parts that will not be used within twelve months following the date of the interim condensed consolidated balance sheets.
Schedule of Accrued Expenses
Accrued expenses
September 29, 2024December 31, 2023
Accrued compensation$7,877 $10,947 
Accrued commissions530 488 
Accrued royalties3,641 3,122 
Current portion of operating lease liabilities51 48 
Current portion of finance lease liabilities610 645 
Accrued inventory— 1,261 
Accrued consulting fees— 9,345 
Accrued restructuring costs (1)
— 1,319 
Accrued warranty (2)
3,444 824 
Accrued vendor purchase commitments (3)
8,107 10,457 
Other accrued expenses7,170 9,835 
Total accrued expenses$31,430 $48,291 
__________________
(1)The Company incurred restructuring costs of $1,921 during the fiscal year ended December 31, 2023. The Company paid $602 during the fiscal year ended December 31, 2023, and the remainder was paid in the three-month period ended March 31, 2024.
(2)The Company accrued provisions for warranties of $1,496 and $411 during the three-month periods ended September 29, 2024 and October 1, 2023, respectively, and $2,621 and $402 for the nine-month periods ended September 29, 2024 and October 1, 2023, respectively.
(3)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.
Schedule of Other Noncurrent Liabilities
Other long-term liabilities
September 29, 2024December 31, 2023
Finance lease liabilities
$8,767 $9,275 
Operating lease liabilities
13 52 
Total other long-term liabilities$8,780 $9,327