SANTA CLARA, Calif., Aug. 05, 2026 (GLOBE NEWSWIRE) — SiTime Corporation, (Nasdaq: SITM), the Precision Timing company, today announced financial results for the second quarter ended June 30, 2026.

Net revenue in the second quarter of 2026 was $157.4 million, as compared to $69.5 million in the year ago quarter.

“SiTime delivered exceptional results in the second quarter, with revenue increasing 127% year over year to $157.4 million and gross margin of 67.1%,” said Rajesh Vashist, chairman and CEO of SiTime. “While every segment grew by at least 50%, CED grew by 181%. On July 1, we completed the acquisition of Renesas’ Timing Business, adding over 550 clocking products to our portfolio. Only SiTime offers the full breadth of Precision Timing solutions — and that unmatched capability is accelerating our industry leadership across every end market we serve.”

In the second quarter of 2026, GAAP gross profit was $99.1 million, or 63.0% of revenue, GAAP operating expenses were $90.9 million, GAAP income from operations was $8.2 million, and GAAP net income was $18.2 million, or $0.66 per diluted share.

In the second quarter of 2026, non-GAAP gross profit was $105.6 million, or 67.1% of revenue, non-GAAP operating expenses were $52.1 million, non-GAAP income from operations was $53.5 million and non-GAAP net income was $65.6 million, or $2.34 per diluted share.

Total cash, cash equivalents and short-term investments were $1,921 million on June 30, 2026. The balance includes net proceeds from the convertible senior notes offering that were used to fund the acquisition of certain assets from Renesas Electronics Corporation which was completed on July 1, 2026.

SiTime 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, amortization of financing related transaction costs, 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 3, 2026 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 the employment of 168 newly hired individuals globally, including 126 employees, hired in connection with SiTime’s acquisition of certain assets from Renesas Electronics Corporation. The RSUs were approved in accordance with Nasdaq Listing Rule 5635(c)(4). The inducement grants consisted of an aggregate of 109,689 RSUs. For employees hired in connection with the acquisition of certain assets of Renesas Electronics Corporation, 1/16th of the RSUs will vest on August 20, 2026, and then 1/16th of the RSUs will vest in equal quarterly installments on each November 20, February 20, May 20, and August 20 thereafter, subject to each such employee’s continued service on each vesting date. For the other newly hired individuals, 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 will 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 RSU grants and SiTime’s Amended and Restated 2022 Inducement Award Plan.

Conference Call

SiTime will broadcast the financial results for its second quarter of 2026 via conference call today, August 5, 2026, 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 4 billion devices shipped, SiTime is changing the timing industry. For more information, visit www.sitime.com.

About Precision Timing – Timing is the heartbeat of all electronics, ensuring performance, resilience and scalability. For decades, quartz devices, non-silicon technology, have kept systems in sync, but they struggle in harsher, more demanding environments. MEMS-based Precision Timing delivers greater accuracy, smaller size and resilience. Today, MEMS timing powers over 400 applications, including high-growth ones in AI data centers, automated driving, industrial and humanoid robots, wearables and IoT.

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, 2025. 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, 2026 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
  Three months ended
  June 30, 2026   March 31, 2026   June 30, 2025
           
  (in thousands, except per share data)
Revenue $ 157,432     $ 113,567     $ 69,494  
Cost of revenue   58,290       46,612       33,442  
Gross profit   99,142       66,955       36,052  
Operating expenses:          
Research and development   36,117       32,738       30,563  
Selling, general and administrative   46,301       38,937       28,228  
Acquisition related costs   8,509       7,619       1,872  
Total operating expenses   90,927       79,294       60,663  
Income (loss) from operations   8,215       (12,339 )     (24,611 )
Interest income   12,545       7,310       4,263  
Interest expense   (2,247 )     —       —  
Other (expense) income, net   (317 )     (174 )     204  
Income (loss) before income taxes   18,196       (5,203 )     (20,144 )
Income tax expense   (40 )     (14 )     (35 )
Net income (loss) $ 18,156     $ (5,217 )   $ (20,179 )
Net income (loss) attributable to common stockholders and comprehensive income (loss) $ 18,156     $ (5,217 )   $ (20,179 )
Net income (loss) per share attributable to common stockholders, basic $ 0.69     $ (0.20 )   $ (0.84 )
Net income (loss) per share attributable to common stockholders, diluted $ 0.66     $ (0.20 )   $ (0.84 )
Weighted-average shares used to compute basic net income (loss) per share   26,450       26,343       23,923  
Weighted-average shares used to compute diluted net income (loss) per share   27,490       26,343       23,923  

SiTime Corporation
Unaudited GAAP Condensed Consolidated Statements of Operations
  Six Months Ended
  June 30, 2026   June 30, 2025
       
  (in thousands, except per share data)
Revenue $ 270,999     $ 129,808  
Cost of revenue   104,902       63,421  
Gross profit   166,097       66,387  
Operating expenses:      
Research and development   68,854       60,589  
Selling, general and administrative   85,237       55,086  
Acquisition related costs   16,129       3,433  
Total operating expenses   170,220       119,108  
Loss from operations   (4,123 )     (52,721 )
Interest income   19,854       8,557  
Interest expense   (2,247 )     —  
Other (expense) income, net   (492 )     210  
Income (loss) before income taxes   12,992       (43,954 )
Income tax expense   (53 )     (102 )
Net income (loss) $ 12,939     $ (44,056 )
Net income (loss) attributable to common stockholders and comprehensive income (loss) $ 12,939     $ (44,056 )
Net income (loss) per share attributable to common stockholders, basic $ 0.49     $ (1.85 )
Net income (loss) per share attributable to common stockholders, diluted $ 0.47     $ (1.85 )
Weighted-average shares used to compute basic net income (loss) per share   26,397       23,790  
Weighted-average shares used to compute diluted net income (loss) per share   27,335       23,790  

SiTime Corporation
Unaudited Reconciliation of Non-GAAP Adjustments
  Three months ended
  June 30, 2026   March 31, 2026   June 30, 2025
  (in thousands, except per share data)
Reconciliation of GAAP gross profit and margin to non-GAAP          
Revenue $ 157,432     $ 113,567     $ 69,494  
GAAP gross profit   99,142       66,955       36,052  
GAAP gross margin   63.0 %     59.0 %     51.9 %
Amortization of acquired intangibles   5,744       5,744       3,573  
Stock-based compensation   699       590       825  
Non-GAAP gross profit $ 105,585     $ 73,289     $ 40,450  
Non-GAAP gross margin   67.1 %     64.5 %     58.2 %
           
Reconciliation of GAAP operating expenses to non-GAAP          
GAAP research and development expenses $ 36,117     $ 32,738     $ 30,563  
Stock-based compensation   (10,501 )     (11,228 )     (11,044 )
Non-GAAP research and development expenses $ 25,616     $ 21,510     $ 19,519  
           
GAAP sales, general and administrative expenses $ 46,301     $ 38,937     $ 28,228  
Stock-based compensation   (19,793 )     (18,982 )     (14,457 )
Non-GAAP sales, general and administrative expenses $ 26,508     $ 19,955     $ 13,771  
           
GAAP acquisition related costs $ 8,509     $ 7,619     $ 1,872  
Acquisition related costs   (8,509 )     (7,619 )     (1,872 )
Non-GAAP acquisition related costs $ —     $ —     $ —  
Total Non-GAAP operating expenses $ 52,124     $ 41,465     $ 33,290  
           
Reconciliation of GAAP income (loss) from operations to non-GAAP income from operations        
GAAP income (loss) from operations $ 8,215     $ (12,339 )   $ (24,611 )
Acquisition related costs   8,509       7,619       1,872  
Amortization of acquired intangibles   5,744       5,744       3,573  
Stock-based compensation   30,993       30,800       26,326  
Non-GAAP income from operations $ 53,461     $ 31,824     $ 7,160  
Non-GAAP income from operations as a percentage of revenue   34.0 %     28.0 %     10.3 %
           
Reconciliation of GAAP net income (loss) to non-GAAP net income          
GAAP net income (loss) $ 18,156     $ (5,217 )   $ (20,179 )
Acquisition related costs   8,509       7,619       1,872  
Amortization of financing related transaction costs   2,247       —       —  
Amortization of acquired intangibles   5,744       5,744       3,573  
Stock-based compensation   30,993       30,800       26,326  
Non-GAAP net income $ 65,649     $ 38,946     $ 11,592  
Weighted-average shares used to compute diluted net income per share   28,061       27,138       24,633  
           
GAAP net income (loss) per share diluted $ 0.66     $ (0.20 )   $ (0.84 )
Non-GAAP adjustments detailed above   1.68       1.63       1.31  
Non-GAAP net income per share diluted $ 2.34     $ 1.44     $ 0.47  

(1) Non-GAAP diluted weighted average shares are calculated using the treasury stock method and differ from GAAP diluted weighted average shares in certain periods due to non-GAAP net income reported.

SiTime Corporation
Unaudited Reconciliation of Non-GAAP Adjustments
  Six Months Ended
  June 30, 2026   June 30, 2025
  (in thousands, except per share data)
Reconciliation of GAAP gross profit and margin to non-GAAP      
Revenue $ 270,999     $ 129,808  
GAAP gross profit   166,097       66,387  
GAAP gross margin   61.3 %     51.1 %
Amortization of acquired intangibles   11,489       7,145  
Stock-based compensation   1,289       1,526  
Non-GAAP gross profit $ 178,875     $ 75,058  
Non-GAAP gross margin   66.0 %     57.8 %
       
Reconciliation of GAAP operating expenses to non-GAAP      
GAAP research and development expenses $ 68,854     $ 60,589  
Stock-based compensation   (21,728 )     (21,726 )
Non-GAAP research and development expenses $ 47,126     $ 38,863  
       
GAAP sales, general and administrative expenses $ 85,237     $ 55,086  
Stock-based compensation   (38,775 )     (28,119 )
Non-GAAP sales, general and administrative expenses $ 46,462     $ 26,967  
       
GAAP acquisition related costs $ 16,129     $ 3,433  
Acquisition related costs   (16,129 )     (3,433 )
Non-GAAP acquisition related costs $ —     $ —  
Total Non-GAAP operating expenses $ 93,588     $ 65,830  
       
Reconciliation of GAAP loss from operations to non-GAAP income (loss) from operations      
GAAP loss from operations $ (4,123 )   $ (52,721 )
Amortization of acquired intangibles   11,489       7,145  
Acquisition related costs   16,129       3,433  
Stock-based compensation   61,792       51,371  
Non-GAAP income from operations $ 85,287     $ 9,228  
Non-GAAP income from operations as a percentage of revenue   31.5 %     7.1 %
       
Reconciliation of GAAP net income (loss) to non-GAAP net income      
GAAP net income (loss) $ 12,939     $ (44,056 )
Amortization of acquired intangibles   11,489       7,145  
Acquisition related costs   16,129       3,433  
Amortization of financing related transaction costs   2,247       —  
Stock-based compensation   61,792       51,371  
Non-GAAP net income $ 104,596     $ 17,893  
Weighted-average shares used to compute diluted net income per share(1)   27,621       24,566  
       
GAAP net income (loss) per share diluted $ 0.47     $ (1.85 )
Non-GAAP adjustments detailed above   3.32       2.58  
Non-GAAP net income per share diluted $ 3.79     $ 0.73  

(1) Non-GAAP diluted weighted average shares are calculated using the treasury stock method and differ from GAAP diluted weighted average shares in certain periods due to non-GAAP net income reported.

SiTime Corporation
Unaudited GAAP Condensed Consolidated Balance Sheets
  As of
  June 30, 2026   December 31, 2025
       
  (in thousands)
Assets:      
Current assets:      
Cash and cash equivalents $ 1,921,141     $ 16,759  
Short-term investments in held-to-maturity securities   —       791,648  
Accounts receivable, net   88,706       45,040  
Inventories   103,904       81,557  
Prepaid expenses and other current assets   20,114       14,275  
Total current assets   2,133,865       949,279  
Property and equipment, net   114,387       105,114  
Intangible assets, net   136,023       147,366  
Right-of-use assets, net   9,859       4,089  
Goodwill   87,098       87,098  
Other assets   24,291       1,753  
Total assets $ 2,505,523     $ 1,294,699  
Liabilities and Stockholders’ Equity:      
Current liabilities:      
Accounts payable $ 28,895     $ 21,327  
Accrued expenses and other current liabilities   80,841       62,678  
Total current liabilities   109,736       84,005  
Convertible senior notes, net   1,317,556       —  
Other non-current liabilities   53,179       54,512  
Total liabilities   1,480,471       138,517  
Commitments and contingencies      
Stockholders’ equity:      
Common stock   3       3  
Additional paid-in capital   1,237,014       1,381,083  
Accumulated deficit   (211,965 )     (224,904 )
Total stockholders’ equity   1,025,052       1,156,182  
Total liabilities and stockholders’ equity $ 2,505,523     $ 1,294,699  


Investor Relations Contacts:

Shelton Group
Leanne Sievers | Brett Perry
sitm-ir@sheltongroup.com

SiTime Corporation
Beth Howe
Chief Financial Officer
investor.relations@sitime.com


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