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SiTime Corporation (SITM) delivers cutting-edge MEMS timing solutions for aerospace, automotive, and IoT markets. This page provides investors and industry professionals with consolidated access to the company's official announcements and strategic developments.
Track critical updates including quarterly earnings disclosures, product innovation launches, manufacturing expansions, and leadership changes. Our curated feed ensures you never miss regulatory filings, partnership announcements, or technology breakthroughs related to silicon-based timing systems.
Key coverage areas include precision timing solutions for 5G infrastructure, automotive sensor ecosystems, and low-power IoT devices. Bookmark this page for real-time updates on how SITM's configurable MEMS oscillators continue transforming electronic design across mission-critical industries.
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.
