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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 Corporation (NASDAQ: SITM) has introduced a new family of automotive differential oscillators, the SiT9396/7, which enhance the reliability and resilience of Advanced Driver Assistance Systems (ADAS) by 10x. These solutions address safety and performance challenges in harsh conditions, expanding SiTime's served available market by $50 million. The ADAS market is projected to grow from $15.4 billion in 2022 to $28.6 billion by 2027. The SiT9396/7 oscillators are designed for high performance and stability, making them a crucial component for automotive OEMs and Tier 1 suppliers.
SiTime Corporation (SITM) reported strong Q2 2022 financial results, achieving net revenue of $79.4 million, a 78.5% increase year-over-year and a 13.0% rise from Q1 2022. Gross margins stood at 66.3%, with operating expenses at 50.9%. GAAP net income was $12.9 million, or $0.57 per diluted share. Non-GAAP figures showed net income of $25.3 million, or $1.11 per diluted share. SiTime maintains $580.3 million in cash and equivalents. The company also announced RSUs for 34 new hires as part of its Inducement Award Plan.
SiTime Corporation (NASDAQ: SITM) has launched SiTimeDirect, an online store for customized precision timing solutions, delivering products in as little as 48 hours. Amid global semiconductor shortages, SiTimeDirect offers access to over 150 billion configurations, allowing engineers to configure parts with specific timing specifications.
This initiative aims to accelerate product launches for electronics companies, enabling rapid shipment for quantities ranging from one to 5,000 units. The service enhances customer support and streamlines the ordering process.
SiTime Corporation (Nasdaq: SITM) will release its second quarter 2022 financial results on August 3, 2022, after market close. The CEO, Rajesh Vashist, and CFO, Art Chadwick, will hold a conference call at 2:00 PM PT to discuss these results. Investors are encouraged to register for the call using provided links. SiTime is a leader in precision timing solutions, having shipped over 2 billion devices, aiming to enhance performance and reliability across various applications.
SiTime Corporation (Nasdaq: SITM) reported strong financial results for the first quarter ended March 31, 2022, with a net revenue of $70.3 million, representing a significant 97.7% increase year-over-year, although down 7.2% from the previous quarter. GAAP net income was $6.1 million or $0.27 per diluted share. Non-GAAP results showed even stronger metrics with net income at $21.3 million and $0.94 per diluted share. The company's cash reserves stood at $571.5 million. Additionally, SiTime granted 92,846 RSUs to new employees as part of its Inducement Plan.
SiTime Corporation (NASDAQ: SITM) announced that Cadence Design Systems will utilize its MEMS timing solutions for the Palladium Z2 Enterprise Emulation and Protium X2 Prototyping platforms. This partnership is expected to enhance Cadence's production capabilities as their components require high precision and rapid scaling. Cadence praised SiTime's timing solutions for meeting stringent technical demands, which reflects SiTime's strong supply chain advantage and product reliability.
SiTime Corporation (SITM) will release its first quarter 2022 financial results on May 4, 2022, after market close. The announcement will be followed by a conference call at 2:00 p.m. PT, hosted by CEO Rajesh Vashist and CFO Art Chadwick. Analysts and investors can join the call by dial-in or through a live audio webcast, which will be available for 90 days on the company's investor relations website. SiTime is recognized for its MEMS precision timing solutions and has shipped over 2 billion devices, contributing to significant advancements in the timing industry.
SiTime Corporation (NASDAQ: SITM) has launched the Elite X™ Super-TCXO, enhancing timing stability and reliability for edge networks, including data centers and 5G technology. Compared to quartz, the Elite X provides 2x better stability and 30x higher reliability. This new product addresses the growing demand for precise timing in autonomous vehicles and latency-sensitive applications. With features like ±10 ppb frequency stability and a wide operational temperature range, the Elite X aims to improve performance in harsh environments. Volume production is set for Q3 2022.
SiTime Corporation (SITM) reported an impressive financial performance for Q4 and fiscal year 2021. Q4 net revenue reached $75.7 million, up 88.1% from Q4 2020. For the full year, net revenue was $218.8 million, an 88.4% increase year-over-year. Gross margins in Q4 were 68.8% of revenue, while full-year gross margins stood at 63.7%. GAAP net income for Q4 was $19.9 million or $0.90 per diluted share, and for the year, it was $32.3 million or $1.53 per diluted share. Total cash and equivalents at year-end were $559.5 million.
SiTime Corporation (NASDAQ: SITM) has launched its innovative XCalibur™ active resonator, designed to replace traditional quartz crystal resonators and address supply chain issues. This new product leverages programmable semiconductors, enhancing performance and reliability while reducing development time by up to two months across industries like automotive and industrial. The introduction opens a $200 million serviceable addressable market within the $4 billion resonator sector. XCalibur offers 10x better reliability than quartz, simplifying design processes by eliminating frequent testing and re-qualification.
