SkyWater Technology, Inc. (SKYT) saw its stock price surge 5.07% during pre-market trading on Thursday. The significant upward movement follows the release of the company's fourth-quarter financial results and a major corporate development announcement.

The semiconductor foundry reported preliminary Q4 revenue of $171.04 million, representing a 127% year-over-year increase and beating analyst expectations. The company attributed this growth to contributions from its Fab 25 acquisition and increased quantum computing engagements, with quantum-related revenue rising over 30% in fiscal year 2025.

Separately, IonQ, Inc. announced it has signed a definitive agreement to acquire SkyWater Technology for $35.00 per share in a cash-and-stock transaction. The acquisition, which represents a substantial premium to recent trading prices, is expected to close in the second or third quarter of 2026, subject to shareholder and regulatory approvals.