SiTime Reports Second Quarter 2026 Financial Results
Rhea-AI Summary
SiTime (Nasdaq: SITM) reported second quarter 2026 net revenue of $157.4 million, up 127% from $69.5 million a year earlier. GAAP gross margin was 63.0%, with GAAP income from operations of $8.2 million and GAAP net income of $18.2 million, or $0.66 per diluted share.
Non-GAAP results showed gross margin of 67.1%, operating income of $53.5 million and net income of $65.6 million, or $2.34 per diluted share. For the first six months of 2026, revenue was $271.0 million versus $129.8 million in 2025, with GAAP net income of $12.9 million and non-GAAP net income of $104.6 million. Cash, cash equivalents and short-term investments totaled $1.921 billion on June 30, 2026, including net proceeds from a convertible senior notes offering used to fund the July 1, 2026 acquisition of certain timing assets from Renesas Electronics, adding over 550 clocking products. SiTime also granted 109,689 RSUs on August 3, 2026 to 168 new hires under its inducement plan.
Positive
- Revenue +127% YoY to $157.4 million in Q2 2026
- GAAP profitability Q2 net income $18.2 million vs prior-year loss
- Non-GAAP net income $65.6 million in Q2; $104.6 million in 1H 2026
- Non-GAAP gross margin 67.1% in Q2; 66.0% for 1H 2026
- Strong liquidity $1.921 billion in cash and short-term investments at June 30, 2026
- Renesas timing acquisition closed July 1, 2026, adding 550+ clocking products
Negative
- Acquisition-related costs $8.5 million in Q2; $16.1 million in 1H 2026
- High stock-based compensation $31.0 million in Q2; $61.8 million in 1H 2026
- GAAP operating loss of $4.1 million for first six months of 2026
- Interest expense $2.25 million in Q2 2026 from financing activities
News Explained
As of June 30, convertible notes were $1,317,556 thousand, while 109,689 RSUs create conditional potential for dilution of existing ownership.
The August 5 results release records
If the RSUs result in additional shares, the release's disclosed ownership effect is dilution: total shares would rise and an existing holder's percentage ownership would fall absent offsetting changes. The awards are not all immediately vested: acquisition-related hires have 1/16 vesting on
The June 30 notes line and the RSU awards are the specific items to track in subsequent filings for disclosed conversion terms or shares issued under the awards.
Market Reaction – SITM
Following this news, SITM has gained 34.22%, reflecting a significant positive market reaction. Our momentum scanner has triggered 66 alerts so far, indicating high trading interest and price volatility. The stock is currently trading at $729.00. Trading volume is above average at 1.6x the average, suggesting increased trading activity.
Data tracked by StockTitan Argus (15 min delayed). Upgrade to Gold for real-time data.
Key Figures
Previous Earnings Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| May 06 | 1Q26 earnings | Positive | +27.9% | Revenue increased 88.3% year over year and non-GAAP net income reached $38.9 million. |
| Feb 04 | 4Q25 earnings | Positive | +17.9% | Quarterly revenue grew 66% year over year with GAAP and non-GAAP profitability. |
| Nov 05 | 3Q25 earnings | Positive | +21.8% | Revenue increased 45% year over year and management expected full-year growth above 50%. |
| Aug 06 | 2Q25 earnings | Positive | -5.7% | Revenue rose 58% year over year despite a GAAP net loss and strong CED growth. |
| May 07 | 1Q25 earnings | Positive | +13.4% | Revenue increased 83% year over year while non-GAAP net income reached $6.3 million. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
SiTime's earnings announcements aligned with positive 24-hour reactions in four of five tag-specific historical events.
Key Terms
gaap financial
non-gaap financial
convertible senior notes financial
restricted stock units financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
Q2 Net Revenue Increased
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
"SiTime delivered exceptional results in the second quarter, with revenue increasing
In the second quarter of 2026, GAAP gross profit was
In the second quarter of 2026, non-GAAP gross profit was
Total cash, cash equivalents and short-term investments were
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
