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SiTime Corporation (NASDAQ: SITM) is a trailblazer in the domain of silicon-based timing solutions. As the leader in MEMS-based timing, SiTime is fundamentally shifting the timing industry by offering configurable solutions that replace traditional quartz devices. The company's offerings enable customers to enhance their products with the highest performance, smallest size, lowest power consumption, and best reliability in the market.
SiTime's extensive product lineup includes Stratum 3E DCOCXOs, Programmable OCXOs, MHz Oscillators, 32.768 kHz Oscillators, Embedded Resonators, Precision MHz Super-TCXOs, and Ruggedized Oscillators. These products are designed to serve a variety of industries such as automotive, infrastructure, aerospace-defense, consumer electronics, Internet of Things (IoT), and industrials.
With a commanding 90% market share and over 1 billion devices shipped, SiTime's solutions allow customers to streamline their supply chains, thereby lowering costs and accelerating time-to-market. Utilizing standard semiconductor processes and high-volume packaging, SiTime ensures the highest availability and shortest lead times in the industry.
SiTime's influence extends globally, with significant market presence in Taiwan, Hong Kong, the United States, and other regions. The majority of its revenue is generated from Taiwan, highlighting the company’s strong foothold in the international market.
Founded as a wholly-owned subsidiary of MegaChips Corporation (Tokyo Stock Exchange: 6875), SiTime continues to innovate and set new standards in silicon-based timing. Recent achievements and ongoing projects underscore SiTime's commitment to driving the electronics industry towards a future dominated by silicon-based timing solutions.
Investors and stakeholders can stay updated on the company’s progress through regular conference calls and press releases. To participate in the upcoming events or to get in touch with SiTime's Investor Relations team, please refer to the latest updates provided.
SiTime (SITM) reported strong Q3 2024 financial results with net revenue of $57.7 million, marking a 32% increase from the previous quarter and 62% year-over-year growth. All market segments showed double-digit sequential growth. The company reported GAAP gross profit of $29.5 million (51.1% margin) and non-GAAP gross profit of $33.5 million (58.1% margin). While GAAP operations showed a loss of $24.9 million, non-GAAP income from operations was $4.0 million. The company maintained a strong cash position of $434.8 million and granted RSUs to 19 new employees under its 2022 Inducement Award Plan.
SiTime (Nasdaq: SITM), the Precision Timing company, has announced it will release its third quarter 2024 financial results on Wednesday, November 6, 2024, after market close. Following the release, CEO Rajesh Vashist and CFO Beth Howe will host a conference call at 2:00 p.m. Pacific Time to discuss the company's results.
Analysts and investors are invited to join the conference call. Participants can access the call through a live audio webcast or by registering for a dial-in number. The webcast will be available and archived for approximately 90 days in the Events section of SiTime's Investor Relations website.
SiTime (Nasdaq: SITM) announced its Q2 2024 financial results. Net revenue reached $43.9 million, marking a 33% increase from the previous quarter and a 58% increase year-over-year. GAAP gross profit was $21.5 million (49.1% of revenue), while GAAP net loss stood at $26.8 million or $1.16 per diluted share. On a non-GAAP basis, gross profit was $25.3 million (57.7% of revenue) with a net income of $2.8 million or $0.12 per diluted share. The company ended the quarter with $452.5 million in cash, cash equivalents, and short-term investments. CEO Rajesh Vashist highlighted robust demand driven by the communications, enterprise, and datacenters (CED) segments. SiTime also completed a $68.6 million payment related to the Aura transaction.
SiTime (Nasdaq: SITM) will announce its second quarter 2024 financial results on August 7, 2024, after market close. CEO Rajesh Vashist and CFO Beth Howe will discuss the results during a live conference call at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time). Analysts and investors can join the call via a live webcast or by registering for a dial-in number. The webcast will be available and archived for 90 days on SiTime's Investor Relations website.
SiTime reported financial results for the first quarter of 2024, with a net revenue of $33.0 million, representing a 22% decrease from the prior quarter. The company's CEO highlighted their position as a leading provider of precision timing chips in key markets like datacenter, AI, and industrial sectors. Despite a decrease in revenue, SiTime's investments in product expansion, including the latest Chorus clock generators, are expected to drive growth in the upcoming quarters.
In terms of financial figures, GAAP gross margins were $17.7 million, operating expenses were $52.7 million, resulting in a net loss of $28.7 million in the first quarter of 2024. Non-GAAP gross margins were $19.1 million, operating expenses were $27.4 million, leading to a net loss of $1.9 million. SiTime reported total cash, cash equivalents, and short-term investments of $517.3 million as of March 31, 2024.
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