SANTA CLARA, Calif., Nov. 05, 2025 (GLOBE NEWSWIRE) -- SiTime Corporation, (Nasdaq: SITM), the Preci...








    



            

                Q3 Net Revenue Increased 45% to $83.6 Million






    
        
            November 05, 2025 16:10 ET
        

        
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                SiTime
            
                

        
    

    

    

    





        
SANTA CLARA, Calif., Nov.  05, 2025  (GLOBE NEWSWIRE) -- SiTime Corporation, (Nasdaq: SITM), the Precision Timing company, today announced financial results for the third quarter ended September 30, 2025.  Net revenue in the third quarter of 2025 was $83.6 million, as compared to $57.7 million in the year ago quarter.  “AI growth powered milestone revenue of $83.6 million in the third quarter with increased adoption of our high-performance, resilient and reliable Precision Timing solutions,” said Rajesh Vashist, chairman and CEO of SiTime. “Given the strength of our Communications-Enterprise-Datacenter business, we expect our rapid growth to continue in upcoming quarters, and to exceed 50% year-over-year for 2025.”  In the third quarter of 2025, GAAP gross profit was $44.7 million, or 53.5% of revenue, GAAP operating expenses were $60.7 million, GAAP loss from operations was $16.0 million, and GAAP net loss was $8.0 million, or $0.31 per diluted share.  In the third quarter of 2025, non-GAAP gross profit was $49.1 million, or 58.8% of revenue, non-GAAP operating expenses were $33.7 million, non-GAAP income from operations was $15.4 million and non-GAAP net income was $23.4 million, or $0.87 per diluted share.  Total cash, cash equivalents and short-term investments were $809.6 million on September 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 November 3, 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 19 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 27,923 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 third quarter of 2025 via conference call today, November 5, 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 investor.sitime.com. 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 www.sitime.com.  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 September 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 CorporationUnaudited GAAP Condensed Consolidated Statements of Operations  Three months ended September 30,2025 June 30,2025 September 30,2024       (in thousands, except per share data)Revenue$83,567  $69,494  $57,698 Cost of revenue 38,850   33,442   28,231 Gross profit 44,717   36,052   29,467 Operating expenses:     Research and development 30,009   30,563   26,489 Selling, general and administrative 30,603   28,228   25,359 Acquisition related costs 126   1,872   2,482 Total operating expenses 60,738   60,663   54,330 Loss from operations (16,021)  (24,611)  (24,863)Interest income 8,275   4,263   5,499 Other income (expense), net (157)  204   168 Loss before income taxes (7,903)  (20,144)  (19,196)Income tax expense (111)  (35)  (119)Net loss$(8,014) $(20,179) $(19,315)Net loss attributable to common stockholders and comprehensive loss$(8,014) $(20,179) $(19,315)Net loss per share attributable to common stockholders, basic and diluted$(0.31) $(0.84) $(0.83)Weighted-average shares used to compute basic and diluted net loss per share 26,048   23,923   23,237     SiTime CorporationUnaudited GAAP Condensed Consolidated Statements of Operations   Nine Months Ended September 30,2025 September 30,2024     (in thousands, except per share data)Revenue$213,375  $134,586 Cost of revenue 102,270   65,936 Gross profit 111,105   68,650 Operating expenses:   Research and development 90,598   77,523 Selling, general and administrative 85,689   74,462 Acquisition related costs 3,560   8,886 Total operating expenses 179,847   160,871 Loss from operations (68,742)  (92,221)Interest income 16,832   17,795 Other expense, net 53   (248)Loss before income taxes (51,857)  (74,674)Income tax (expense) benefit (213)  (114)Net loss$(52,070) $(74,788)Net loss attributable to common stockholders and comprehensive loss$(52,070) $(74,788)Net loss per share attributable to common stockholders, basic and diluted$(2.12) $(3.25)Weighted-average shares used to compute basic and diluted net loss per share 24,551   23,001   SiTime CorporationUnaudited Reconciliation of Non-GAAP Adjustments  Three months ended September 30,2025 June 30,2025 September 30,2024 (in thousands, except per share data)Reconciliation of GAAP gross profit and margin to non-GAAP     Revenue$83,567  $69,494  $57,698 GAAP gross profit 44,717   36,052   29,467 GAAP gross margin 53.5%  51.9%  51.1%Amortization of acquired intangibles 3,573   3,573   3,573 Stock-based compensation 831   825   495 Non-GAAP gross profit$49,121  $40,450  $33,535 Non-GAAP gross margin 58.8%  58.2%  58.1%      Reconciliation of GAAP operating expenses to non-GAAP     GAAP research and development expenses$30,009  $30,563  $26,489 Stock-based compensation (11,485)  (11,044)  (9,392)Non-GAAP research and development expenses$18,524  $19,519  $17,097       GAAP sales, general and administrative expenses$30,603  $28,228  $25,359 Stock-based compensation (15,441)  (14,457)  (12,925)Non-GAAP sales, general and administrative expenses$15,162  $13,771  $12,434       GAAP acquisition related costs$126  $1,872  $2,482 Acquisition related costs (126)  (1,872)  (2,482)Non-GAAP acquisition related costs$—  $—  $— Total Non-GAAP operating expenses$33,686  $33,290  $29,531       Reconciliation of GAAP loss from operations to non-GAAP income (loss) from operations  GAAP loss from operations$(16,021) $(24,611) $(24,863)Acquisition related costs 126   1,872   2,482 Amortization of acquired intangibles 3,573   3,573   3,573 Stock-based compensation 27,757   26,326   22,812 Non-GAAP income from operations$15,435  $7,160  $4,004 Non-GAAP income from operations as a percentage of revenue 18.5%  10.3%  6.9%      Reconciliation of GAAP net loss to non-GAAP net income     GAAP net loss$(8,014) $(20,179) $(19,315)Acquisition related costs 126   1,872   2,482 Amortization of acquired intangibles 3,573   3,573   3,573 Stock-based compensation 27,757   26,326   22,812 Non-GAAP net income$23,442  $11,592  $9,552 Weighted-average shares used to compute diluted net income per share(1) 26,938   24,633   24,059       GAAP net loss per share diluted$(0.31) $(0.84) $(0.83)Non-GAAP adjustments detailed above 1.18   1.31   1.23 Non-GAAP net income per share diluted$0.87  $0.47  $0.40  (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.   SiTime CorporationUnaudited Reconciliation of Non-GAAP Adjustments  Nine Months Ended September 30,2025 September 30,2024 (in thousands, except per share data)Reconciliation of GAAP gross profit and margin to non-GAAP   Revenue$213,375  $134,586 GAAP gross profit 111,105   68,650 GAAP gross margin 52.1%  51.0%Amortization of acquired intangibles 10,718   8,320 Stock-based compensation 2,357   1,002 Non-GAAP gross profit$124,180  $77,972 Non-GAAP gross margin 58.2%  57.9%    Reconciliation of GAAP operating expenses to non-GAAP   GAAP research and development expenses$90,598  $77,523 Stock-based compensation (33,210)  (27,982)Non-GAAP research and development expenses$57,388  $49,541     GAAP sales, general and administrative expenses$85,689  $74,462 Stock-based compensation (43,561)  (38,447)Acquisition related integration costs —   (550)Non-GAAP sales, general and administrative expenses$42,128  $35,465     GAAP acquisition related costs$3,560  $8,886 Acquisition related costs (3,560)  (8,886)Non-GAAP acquisition related costs$—  $— Total Non-GAAP operating expenses$99,516  $85,006     Reconciliation of GAAP loss from operations to non-GAAP income (loss) from operations  GAAP loss from operations$(68,742) $(92,221)Amortization of acquired intangibles 10,718   8,320 Acquisition related costs 3,560   8,886 Acquisition related integration costs —   550 Stock-based compensation 79,128   67,431 Non-GAAP income (loss) from operations$24,664  $(7,034)Non-GAAP income (loss) from operations as a percentage of revenue 11.6%  (5.2%)    Reconciliation of GAAP net loss to non-GAAP net income   GAAP net loss$(52,070) $(74,788)Amortization of acquired intangibles 10,718   8,320 Acquisition related costs 3,560   8,886 Acquisition related integration costs —   550 Stock-based compensation 79,128   67,431 Non-GAAP net income$41,336  $10,399 Weighted-average shares used to compute diluted net income per share(1) 25,390   23,597     GAAP net loss per share diluted$(2.12) $(3.25)Non-GAAP adjustments detailed above 3.75   3.69 Non-GAAP net income (loss) per share diluted$1.63  $0.44  (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.   SiTime CorporationUnaudited GAAP Condensed Consolidated Balance Sheets  As of September 30,2025 December 31,2024     (in thousands)Assets:   Current assets:   Cash and cash equivalents$27,110  $6,106 Short-term investments in held-to-maturity securities 782,465   412,728 Accounts receivable, net 22,504   38,209 Inventories 86,743   76,741 Prepaid expenses and other current assets 13,178   10,276 Total current assets 932,000   544,060 Property and equipment, net 99,227   82,475 Intangible assets, net 152,137   163,558 Right-of-use assets, net 4,871   6,569 Goodwill 87,098   87,098 Other assets 1,667   1,199 Total assets$1,277,000  $884,959 Liabilities and Stockholders' Equity:   Current liabilities:   Accounts payable$18,872  $22,894 Accrued expenses and other current liabilities 91,807   85,555 Total current liabilities 110,679   108,449 Other non-current liabilities 62,918   76,791 Total liabilities 173,597   185,240 Commitments and contingencies   Stockholders’ equity:   Common stock 3   2 Additional paid-in capital 1,337,471   881,718 Accumulated deficit (234,071)  (182,001)Total stockholders’ equity 1,103,403   699,719 Total liabilities and stockholders’ equity$1,277,000  $884,959          Investor Relations Contacts:Shelton GroupLeanne Sievers | Brett Perrysitm-ir@sheltongroup.com  SiTime CorporationBeth HoweChief Financial Officerinvestor.relations@sitime.com  
            

SITM

SiTime Reports Third Quarter 2025 Financial Results

SiTime's Q3 revenue surged 45% to $83.6 million year-over-year.
Non-GAAP net income in Q3 was $23.4 million, $0.87 per share.
Cash reserves increased to $809.6 million as of September 30, 2025.
Management expects growth to exceed 50% year-over-year for 2025.
RSUs granted to 19 new hires as part of recruitment incentives.

SiTime Reports Third Quarter 2025 Financial Results

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