Latest news with #SiTime
CNBC
2 days ago
- Business
- CNBC
Move over Nvidia, UBS says this chip stock will be the fastest-growing over the next few years
Little-known chipmaker SiTime could be the next big name in the semiconductor universe, according to UBS. Analyst Timothy Arcuri initiated coverage of the company with a buy rating and $260 price target, which indicates about 20% upside ahead. Arcuri thinks SiTime is a leading precision timing company, which in the semiconductor industry refers to devices that generate and control signals needed for electronic circuits. These are vital for the operation, data transmission and other actions in semis. "With new silicon based solutions, SiTime is disrupting the timing market – the "heartbeat" of the electronics world – and we believe will be one of the fastest growing companies in all of semis over the next few years, led in part by AI," Arcuri said in a note to clients. "SiTime's leadership position within the MEMS timing market has led to design wins at Apple and NVDA that we believe are catalysts for 36%/30% Y/Y total revenue growth in CY26/CY27e, above Street consensus by 11%/3%." According to Arcuri, one of SiTime's biggest growth opportunities should come from its partnership with Apple. Apple this year made SiTime its exclusive supplier of micro-electro-mechanical systems, oscillators for its in-house modem as the iPhone maker replaced traditional quartz crystal oscillators. Unlike quartz crystal oscillators, MEMS are smaller, more energy-efficient and precise oscillators that can be integrated onto a chip. It's "an opportunity so big that we believe it alone could account for nearly all of the Street's incremental revenue through 2026," he said, referring to the Apple partnership. "SiTime has become the only one-stop shop MEMS timing supplier across the industry capable of addressing system-level clocking applications and is unique in its ability to bring together MEMS/analog/subsystems expertise to build timing systems that do not exist today." SiTime's stock rallied earlier this year on the inclusion of its oscillators in Apple's iPhone 16e. The company's oscillators are also in other Apple products, such as the Apple Pencil Pro. Moreover, Arcuri sees SiTime as a standout artificial intelligence play with room to grow. "In addition to a strong and growing AAPL position, it is also unique among peers in its market cap range given its very high leverage to AI, which we estimate could be pushing 35% of revenue by 2027. We see this year's 40% revenue growth continuing at least through 2026 and likely beyond as it grows into a large served market relative to its current size," the analyst said. SITime isn't widely covered, but most who do are bullish. LSEG data shows that five of the seven analysts covering the stock rate it a buy or strong buy.
Business Wire
06-08-2025
- Business
- Business Wire
SiTime Reports Second Quarter 2025 Financial Results
SANTA CLARA, Calif.--(BUSINESS WIRE)--SiTime Corporation, (Nasdaq: SITM), the Precision Timing company, today announced financial results for the second quarter ended June 30, 2025. Net revenue in the second quarter of 2025 was $69.5 million, as compared to $43.9 million in the year ago quarter. 'SiTime's continued momentum across our end markets demonstrates that our focus on high performance applications is working," said Rajesh Vashist, CEO and chairman of SiTime. "Revenue from our Communications, Enterprise, and Data Center market (CED) grew 137% year over year, fueled by AI that created strong demand for our Precision Timing solutions." In the second quarter of 2025, GAAP gross profit was $36.1 million, or 51.9% of revenue, GAAP operating expenses were $60.7 million, GAAP loss from operations was $24.6 million, and GAAP net loss was $20.2 million, or $0.84 per diluted share. In the second quarter of 2025, non-GAAP gross profit was $40.5 million, or 58.2% of revenue, non-GAAP operating expenses were $33.3 million, non-GAAP income from operations was $7.2 million and non-GAAP net income was $11.6 million, or $0.47 per diluted share. Total cash, cash equivalents and short-term investments were $796.7 million on June 30, 2025. The company plans to discuss its business outlook as part of today's scheduled conference call. Use of Non-GAAP Financial Information This press release and its attachments include certain non-GAAP supplemental performance measures. The presentation of this financial information is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with GAAP. SiTime believes that the presentation of non-GAAP financial measures provides important supplemental information to management and investors regarding financial and business trends relating to SiTime's financial condition and results of operations. SiTime believes that these non-GAAP financial measures provide additional insight into SiTime's ongoing performance and core operational activities and has chosen to provide these measures for more consistent and meaningful comparison between periods. These measures should only be used to evaluate SiTime's results of operations in conjunction with the corresponding GAAP measures. The non-GAAP financial measures exclude stock-based compensation expense, amortization of acquired intangibles, and acquisition-related expenses which include transaction and certain other cash costs associated with business acquisition as well as changes in the estimated fair value of earn out liabilities and accretion of acquisition consideration payable. The reconciliation between GAAP and non-GAAP financial results is provided in the financial statements portion of this release. Inducement Plan Grants SiTime granted restricted stock unit awards ('RSUs') on August 4, 2025 that were approved by the Compensation and Talent Committee of its Board of Directors under SiTime's Amended and Restated 2022 Inducement Award Plan, as a material inducement to employment of 24 newly hired individuals globally. The RSUs were approved in accordance with Nasdaq Listing Rule 5635(c)(4). The inducement grants consisted of an aggregate of 50,654 RSUs. One-fourth of the RSUs will vest on the first February 20, May 20, August 20, or November 20 falling in the one-year anniversary quarter of the applicable vesting start date, and then 1/16th of the RSUs vest in equal quarterly installments on each February 20, May 20, August 20, and November 20, thereafter, subject to each such employee's continued service on each vesting date. The inducement grants are subject to the terms and conditions of award agreements covering the grants and SiTime's 2022 Amended and Restated Inducement Award Plan. Conference Call SiTime will broadcast the financial results for its second quarter of 2025 via conference call today, August 6, 2025, at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time). To join the conference call via phone, participants are required to complete the following registration form to receive a dial-in number and dedicated PIN for accessing the conference call. The conference call will also be available via a live audio webcast on the investor relations section of the SiTime website at Please access the website at least a few minutes prior to the start of the call to download and install any necessary audio software. An archived webcast replay of the call will be available on the website. About SiTime SiTime Corporation is the Precision Timing company. Our semiconductor MEMS programmable solutions offer a rich feature set that enables customers to differentiate their products with higher performance, smaller size, lower power, and better reliability. With more than 3.5 billion devices shipped, SiTime is changing the timing industry. For more information, visit Forward-Looking Statements This press release and the earnings call referencing this press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Security Exchange Act of 1934, as amended. These forward-looking statements involve risks, uncertainties, assumptions, and other factors that may cause actual results or outcomes to differ materially from those anticipated in such forward-looking statements. The risks, uncertainties, assumptions, and other factors include, but are not limited to our expectations and trends relating to the growth of our new products, our product differentiation and market acceptance of our products, and our ability to accurately forecast our future performance, business and growth. More information about these and other risks, uncertainties, and other factors that may cause actual outcomes and results to differ materially from those included in the forward-looking statements contained in this release are included under the caption 'Risk Factors' and elsewhere in our most recent Form 10-Q filed with the Securities and Exchange Commission and other filings SiTime makes with the Securities and Exchange Commission from time to time, including SiTime's Annual Report on Form 10-K that has been filed for the year ended December 31, 2024. The financial information set forth in this release reflects estimates based on information available at this time. While SiTime believes these estimates to be reasonable, these amounts could differ materially from reported amounts in SiTime's Quarterly Report on Form 10-Q for the quarter ended June 30, 2025 and SiTime's other filings with the Securities and Exchange Commission. Forward-looking statements speak only as of the date the statements are made and are based on information available to SiTime at the time those statements are made and/or management's good faith belief as of that time with respect to future events. Except as required by law, SiTime undertakes no obligation, and does not intend, to update these forward-looking statements. SiTime Corporation Unaudited GAAP Condensed Consolidated Statements of Operations Six Months Ended June 30, 2025 June 30, 2024 (in thousands, except per share data) Revenue $ 129,808 $ 76,888 Cost of revenue 63,421 37,705 Gross profit 66,387 39,183 Operating expenses: Research and development 60,589 51,034 Selling, general and administrative 55,086 49,102 Acquisition related costs 3,433 6,405 Total operating expenses 119,108 106,541 Loss from operations (52,721 ) (67,358 ) Interest income 8,557 12,296 Other expense, net 210 (416 ) Loss before income taxes (43,954 ) (55,478 ) Income tax (expense) benefit (102 ) 5 Net loss $ (44,056 ) $ (55,473 ) Net loss attributable to common stockholders and comprehensive loss $ (44,056 ) $ (55,473 ) Net loss per share attributable to common stockholders, basic $ (1.85 ) $ (2.42 ) Net loss per share attributable to common stockholders, diluted $ (1.85 ) $ (2.42 ) Weighted-average shares used to compute basic net loss per share 23,790 22,881 Weighted-average shares used to compute diluted net loss per share 23,790 22,881 Expand SiTime Corporation Unaudited Reconciliation of Non-GAAP Adjustments Three months ended June 30, 2025 March 31, 2025 June 30, 2024 (in thousands, except per share data) Reconciliation of GAAP gross profit and margin to non-GAAP Revenue $ 69,494 $ 60,314 $ 43,866 GAAP gross profit 36,052 30,336 21,523 GAAP gross margin 51.9 % 50.3 % 49.1 % Amortization of acquired intangibles 3,573 3,573 3,463 Stock-based compensation 825 701 327 Non-GAAP gross profit $ 40,450 $ 34,610 $ 25,313 Non-GAAP gross margin 58.2 % 57.4 % 57.7 % Reconciliation of GAAP operating expenses to non-GAAP GAAP research and development expenses $ 30,563 $ 30,026 $ 25,490 Stock-based compensation (11,044 ) (10,682 ) (9,414 ) Non-GAAP research and development expenses $ 19,519 $ 19,344 $ 16,076 GAAP sales, general and administrative expenses $ 28,228 $ 26,856 $ 25,190 Stock-based compensation (14,457 ) (13,663 ) (13,176 ) Non-GAAP sales, general and administrative expenses $ 13,771 $ 13,193 $ 12,014 GAAP acquisition related costs $ 1,872 $ 1,562 $ 3,163 Acquisition related costs (1,872 ) (1,562 ) (3,163 ) Non-GAAP acquisition related costs $ — $ — $ — Total Non-GAAP operating expenses $ 33,290 $ 32,537 $ 28,090 Reconciliation of GAAP loss from operations to non-GAAP income (loss) from operations GAAP loss from operations $ (24,611 ) $ (28,108 ) $ (32,320 ) Acquisition related costs 1,872 1,562 3,163 Amortization of acquired intangibles 3,573 3,573 3,463 Stock-based compensation 26,326 25,046 22,917 Non-GAAP income (loss) from operations $ 7,160 $ 2,073 $ (2,777 ) Non-GAAP income (loss) from operations as a percentage of revenue 10.3 % 3.4 % (6.3 %) Reconciliation of GAAP net loss to non-GAAP net income GAAP net loss $ (20,179 ) $ (23,877 ) $ (26,769 ) Acquisition related costs 1,872 1,562 3,163 Amortization of acquired intangibles 3,573 3,573 3,463 Stock-based compensation 26,326 25,046 22,917 Non-GAAP net income $ 11,592 $ 6,304 $ 2,774 Weighted-average shares used to compute diluted net income per share (1) 24,633 24,412 22,997 GAAP net loss per share diluted $ (0.84 ) $ (1.01 ) $ (1.16 ) Non-GAAP adjustments detailed above 1.31 1.27 1.28 Non-GAAP net income per share diluted $ 0.47 $ 0.26 $ 0.12 (1) Non-GAAP diluted weighted average shares are calculated using the treasury stock method and differ from GAAP diluted weighted average shares due to non-GAAP net income reported. Expand SiTime Corporation Unaudited Reconciliation of Non-GAAP Adjustments Six Months Ended June 30, 2025 June 30, 2024 (in thousands, except per share data) Reconciliation of GAAP gross profit and margin to non-GAAP Revenue $ 129,808 $ 76,888 GAAP gross profit 66,387 39,183 GAAP gross margin 51.1 % 51.0 % Amortization of acquired intangibles 7,145 4,747 Stock-based compensation 1,526 507 Non-GAAP gross profit $ 75,058 $ 44,437 Non-GAAP gross margin 57.8 % 57.8 % Reconciliation of GAAP operating expenses to non-GAAP GAAP research and development expenses $ 60,589 $ 51,034 Stock-based compensation (21,726 ) (18,590 ) Non-GAAP research and development expenses $ 38,863 $ 32,444 GAAP sales, general and administrative expenses $ 55,086 $ 49,102 Stock-based compensation (28,119 ) (25,523 ) Acquisition related integration costs — (550 ) Non-GAAP sales, general and administrative expenses $ 26,967 $ 23,029 GAAP acquisition related costs $ 3,433 $ 6,405 Acquisition related costs (3,433 ) (6,405 ) Non-GAAP acquisition related costs $ — $ — Total Non-GAAP operating expenses $ 65,830 $ 55,473 GAAP loss from operations $ (52,721 ) $ (67,358 ) Amortization of acquired intangibles 7,145 4,747 Acquisition related costs 3,433 6,405 Acquisition related integration costs — 550 Stock-based compensation 51,371 44,620 Non-GAAP income (loss) from operations $ 9,228 $ (11,036 ) Non-GAAP income (loss) from operations as a percentage of revenue 7.1 % (14.4 %) Reconciliation of GAAP net loss to non-GAAP net income GAAP net loss $ (44,056 ) $ (55,473 ) Amortization of acquired intangibles 7,145 4,747 Acquisition related costs 3,433 6,405 Acquisition related integration costs — 550 Stock-based compensation 51,371 44,621 Non-GAAP net income $ 17,893 $ 850 Weighted-average shares used to compute diluted net income per share (1) 24,566 23,313 GAAP net loss per share diluted $ (1.85 ) $ (2.42 ) Non-GAAP adjustments detailed above 2.58 2.46 Non-GAAP net income per share diluted $ 0.73 $ 0.04 (1) Non-GAAP diluted weighted average shares are calculated using the treasury stock method and differ from GAAP diluted weighted average shares due to non-GAAP net income reported. Expand SiTime Corporation Unaudited GAAP Condensed Consolidated Balance Sheets As of December 31, 2024 (in thousands) Assets: Current assets: Cash and cash equivalents $ 172,522 $ 6,106 Short-term investments in held-to-maturity securities 624,144 412,728 Accounts receivable, net 26,866 38,209 Inventories 84,126 76,741 Prepaid expenses and other current assets 11,243 10,276 Total current assets 918,901 544,060 Property and equipment, net 99,861 82,475 Intangible assets, net 155,944 163,558 Right-of-use assets, net 5,648 6,569 Goodwill 87,098 87,098 Other assets 1,684 1,199 Total assets $ 1,269,136 $ 884,959 Liabilities and Stockholders' Equity: Current liabilities: Accounts payable $ 13,063 $ 22,894 Accrued expenses and other current liabilities 94,479 85,555 Total current liabilities 107,542 108,449 Other non-current liabilities 60,913 76,791 Total liabilities 168,455 185,240 Commitments and contingencies Stockholders' equity: Common stock 3 2 Additional paid-in capital 1,326,735 881,718 Accumulated deficit (226,057 ) (182,001 ) Total stockholders' equity 1,100,681 699,719 Total liabilities and stockholders' equity $ 1,269,136 $ 884,959 Expand
Yahoo
09-07-2025
- Business
- Yahoo
SiTime Corporation to Announce Second Quarter 2025 Financial Results on August 6, 2025
SANTA CLARA, Calif., July 09, 2025--(BUSINESS WIRE)--SiTime Corporation (Nasdaq: SITM), the Precision Timing company, will announce its second quarter 2025 financial results on Wednesday, August 6, 2025, after market close. Rajesh Vashist, chief executive officer, and Beth Howe, chief financial officer, will broadcast 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 using the following information: Date: Wednesday, August 6, 2025Time: 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time)Live webcast: Click Here Register for dial-in number: Register Here Advanced registration is required for dial-in participants. Please complete the linked registration form above to receive a dial-in number and dedicated PIN for accessing the conference call. A live audio webcast of the conference call will also be available and archived for approximately 90 days in the Events section of SiTime's Investor Relations website. About SiTime SiTime Corporation is the Precision Timing company. Our semiconductor MEMS programmable solutions offer a rich feature set that enables customers to differentiate their products with higher performance, smaller size, lower power and better reliability. With more than 3.5 billion devices shipped, SiTime is changing the timing industry. For more information, visit View source version on Contacts Investor Relations Contacts: Shelton GroupLeanne Sievers | Brett Perrysitm-ir@ SiTime CorporationBeth HoweChief Financial
Business Wire
09-07-2025
- Business
- Business Wire
SiTime Corporation to Announce Second Quarter 2025 Financial Results on August 6, 2025
SANTA CLARA, Calif.--(BUSINESS WIRE)-- SiTime Corporation (Nasdaq: SITM), the Precision Timing company, will announce its second quarter 2025 financial results on Wednesday, August 6, 2025, after market close. Rajesh Vashist, chief executive officer, and Beth Howe, chief financial officer, will broadcast 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 using the following information: Date: Wednesday, August 6, 2025 Time: 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time) Live webcast: Click Here Register for dial-in number: Register Here Advanced registration is required for dial-in participants. Please complete the linked registration form above to receive a dial-in number and dedicated PIN for accessing the conference call. A live audio webcast of the conference call will also be available and archived for approximately 90 days in the Events section of SiTime's Investor Relations website. About SiTime SiTime Corporation is the Precision Timing company. Our semiconductor MEMS programmable solutions offer a rich feature set that enables customers to differentiate their products with higher performance, smaller size, lower power and better reliability. With more than 3.5 billion devices shipped, SiTime is changing the timing industry. For more information, visit
Business Wire
30-06-2025
- Business
- Business Wire
SiTime Enhances AI Data Center Performance and Utilization with TimeFabric Software Suite
SANTA CLARA, Calif.--(BUSINESS WIRE)-- SiTime Corporation (NASDAQ: SITM), the Precision Timing company, today announced its TimeFabric™ software suite. TimeFabric, combined with SiTime's oscillators and clocks, delivers up to 9X more accurate time synchronization than quartz-based solutions, enabling higher system performance and utilization in AI data centers. The TimeFabric software suite consists of two modules: IEEE 1588 standards-compliant synchronization software, as well as proprietary technology to extend critical holdover performance to 24 hours. 'At SiTime, we help our customers resolve their complex timing problems for the world's most advanced technologies,' said Rajesh Vashist, chairman and CEO of SiTime. 'As the only semiconductor company exclusively focused on Precision Timing, we deliver a comprehensive portfolio of solutions—including our innovative oscillators, clocks, and now, TimeFabric software. By partnering with SiTime, customers can accelerate their time to market, enhance product reliability, and extend product lifecycles. With the introduction of TimeFabric, SiTime further strengthens its role as an indispensable partner, delivering enduring value to our customers and driving our leadership in the timing industry.' In addition to AI data center applications such as smart network interface cards (SmartNIC), switches, routers and accelerators, TimeFabric can also be used in 5G infrastructure, including remote radio units and base stations, fixed wireless access (FWA) equipment and core network equipment. The TimeFabric software suite has two software modules: IEEE 1588 Precision Time Protocol (PTP) Standards-compliant Servo and Stack SiTime's proprietary servo and software stack for IEEE 1588 precision time protocol (PTP) with sub-nanosecond synchronization accuracy delivers tighter control and greater timing stability over generic IEEE 1588 solutions, even in the most demanding network systems. Network architects gain flexibility in network traffic scheduling and load balancing, which will result in higher utilization. Holdover Extension Software TimeFabric's proprietary holdover extension software can be used to enhance the functionality of SiTime's precision devices with in-field software upgrades. The holdover extension software delivers up to 24 hours of holdover, essential to mobile and network infrastructure reliability – a stringent requirement for critical infrastructure. This ensures full operation in the event of GNSS outages or network clock failures. Additional features include: Availability TimeFabric is now available for SiTime OCXOs, TCXOs and network synchronizers. Resources Blog Product page Demo About SiTime SiTime Corporation is the Precision Timing company. Our semiconductor MEMS programmable solutions offer a rich feature set that enables customers to differentiate their products with higher performance, smaller size, lower power and better reliability. With more than 3.5 billion devices shipped, SiTime is changing the timing industry. For more information, visit Forward-Looking Statements This press release may contain forward-looking statements regarding future events within the meaning of the federal securities laws. These forward-looking statements are intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. Readers are cautioned that these forward-looking statements involve risks and uncertainties that could cause our actual results and the timing of events to differ materially from those anticipated in such forward-looking statements, including, but not limited to, any statement that may predict, forecast, indicate, or imply future events results, or achievements; and other risks and uncertainties described more fully in our documents filed with or furnished to the Securities and Exchange Commission. More information about these and other risks that may impact our business is set forth in our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and other documents filed by us from time to time with the Securities and Exchange Commission. All forward-looking statements in this press release are based on information available to us as of the date hereof and qualified in their entirety by this cautionary statement, and we assume no obligation to revise or update these forward-looking statements.
