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GlobeNewswire·

Shimmick Corporation Announces Fourth Quarter and Fiscal Year 2025 Results

  • Shimmick Corp reported Q4 2025 revenue of $100 million & FY2025 revenue of $493 million, with Shimmick Projects comprising $84 million of Q4 revenue & $397 million of FY revenue.
  • Shimmick Projects revenue increased 4% year-over-year in Q4 2025 & 12% year-over-year in FY2025.
  • Shimmick Projects gross margin rose 462% year-over-year in Q4 2025 to $10 million & 232% year-over-year in FY2025 to $40 million.
  • Non-Core Projects drove the $3 million net loss in Q4 2025, while Adjusted EBITDA turned positive to $4 million for the second consecutive quarter.
  • The company reported $44 million in liquidity as of January 2, 2026, with a backlog of approximately $793 million.
  • Q4 2025 featured a book-to-burn ratio of 1.4x, representing a 5% backlog increase, with $139 million in new work booked.
  • Additional new awards totaling $128 million were added by end of February 2026, with $234 million more pending in California, Texas & Washington.
  • Management expects 2026 consolidated revenue to grow 17% at the midpoint, ranging between $550 million & $600 million.
  • Adjusted EBITDA for 2026 is projected to range from $15 million to $30 million, reflecting a 350% increase at the midpoint.
  • Shimmick Projects gross margin percentage improved to 12% in Q4 2025 from 3% in the prior year period.
  • Selling, general & administrative expenses decreased by $5 million in Q4 2025 compared to the prior year due to transformation plan implementation.
  • Interest expense increased by $2 million in Q4 2025 primarily due to higher average borrowings on credit agreements.
  • Net loss attributable to Shimmick Corp narrowed to $3 million in Q4 2025 from $38 million in the prior year period.
  • Diluted loss per common share was $(0.08) for Q4 2025 compared to $(1.13) in the prior year period.
  • The company is winding down Non-Core Projects, which contributed $16 million in revenue & negligible gross margin in Q4 2025.
  • A conference call to discuss results is scheduled for March 12, 2026, at 4:30 p.m. Eastern Time.