Company Performance - SiTime (SITM) reported quarterly earnings of $0.48 per share, exceeding the Zacks Consensus Estimate of $0.42 per share, and up from $0.24 per share a year ago, representing an earnings surprise of 14.29% [1] - The company achieved revenues of $68.11 million for the quarter ended December 2024, surpassing the Zacks Consensus Estimate by 6.41%, compared to $42.4 million in the same quarter last year [2] - Over the last four quarters, SiTime has consistently surpassed consensus EPS estimates and revenue estimates [2] Future Outlook - The immediate price movement of SiTime's stock will largely depend on management's commentary during the earnings call and the company's earnings outlook [3][4] - Current consensus EPS estimate for the upcoming quarter is $0.12 on revenues of $51.25 million, and for the current fiscal year, it is $1.49 on revenues of $250.72 million [7] - The estimate revisions trend for SiTime is currently mixed, resulting in a Zacks Rank 3 (Hold), indicating expected performance in line with the market [6] Industry Context - SiTime operates within the Zacks Electronics - Miscellaneous Products industry, which is currently ranked in the top 35% of over 250 Zacks industries, suggesting a favorable industry outlook [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5]

Exhibit 99.1 SiTime Reports Fourth Quarter and Fiscal Year 2024 Financial Results SANTA CLARA, Calif., February 5, 2025 – SiTime Corporation, (Nasdaq: SITM), the Precision Timing company, today announced financial results for the fourth quarter and financial year ended December 31, 2024. Net revenue in the fourth quarter of 2024 was $68.1 million, an 18% increase from $57.7 million in the prior quarter and an increase of 61% from the year ago period. Net revenue for fiscal year 2024 was $202.7 million, an i ...

SANTA CLARA, Calif., Feb. 05, 2025 (GLOBE NEWSWIRE) -- SiTime Corporation, (NASDAQ:SITM), the Precision Timing company, today announced financial results for the fourth quarter and financial year ended December 31, 2024. Net revenue in the fourth quarter of 2024 was $68.1 million, an 18% increase from $57.7 million in the prior quarter and an increase of 61% from the year ago period. Net revenue for fiscal year 2024 was $202.7 million, an increase of 41% from $144.0 million in fiscal year 2023. "In Q4, we s ...

Core Insights - SiTime Corporation will announce its fourth quarter 2024 financial results on February 5, 2025, after market close [1] - The conference call to discuss the results will be led by CEO Rajesh Vashist and CFO Beth Howe at 2:00 p.m. Pacific Time [1] Company Overview - SiTime Corporation specializes in Precision Timing, offering semiconductor MEMS programmable solutions that enhance product performance, reduce size, lower power consumption, and improve reliability [2] - The company has shipped over 3 billion devices, indicating a significant impact on the timing industry [2]

SANTA CLARA, Calif., Jan. 06, 2025 (GLOBE NEWSWIRE) -- SiTime Corporation (NASDAQ:SITM), the Precision Timing company, today announced that SiTime's chief executive officer, Rajesh Vashist, and chief financial officer, Beth Howe, will participate at the 27th Annual Needham Growth Conference on Friday, January 17, 2025. Management is scheduled to host a fireside chat at 1:30 p.m. EST and will conduct virtual meetings with investors participating in the conference. A live and archived audio webcast of the com ...

SANTA CLARA, Calif., Jan. 06, 2025 (GLOBE NEWSWIRE) -- SiTime Corporation (Nasdaq: SITM), the Precision Timing company, today announced that SiTime’s chief executive officer, Rajesh Vashist, and chief financial officer, Beth Howe, will participate at the 27th Annual Needham Growth Conference on Friday, January 17, 2025. Management is scheduled to host a fireside chat at 1:30 p.m. EST and will conduct virtual meetings with investors participating in the conference. A live and archived audio webcast of the co ...

SANTA CLARA, Calif., Dec. 02, 2024 (GLOBE NEWSWIRE) -- SiTime Corporation (Nasdaq: SITM), the Precision Timing company, today announced that SiTime will present at the Raymond James TMT and Consumer Conference to be held at the Lotte Palace Hotel in New York, NY. SiTime management is scheduled to host a fireside chat at 10:00 a.m. EST on Tuesday, December 10, 2024 and will hold meetings with participating investors throughout the day. A live and archived webcast of the Company’s fireside chat will be availa ...

SiTime (SITM) came out with quarterly earnings of $0.40 per share, beating the Zacks Consensus Estimate of $0.26 per share. This compares to earnings of $0.06 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 53.85%. A quarter ago, it was expected that this company would post earnings of $0.04 per share when it actually produced earnings of $0.12, delivering a surprise of 200%.Over the last four quarters, the company has surpass ...

Financial Performance - Net revenue for Q3 2024 was $57.7 million, a 32% increase from $43.9 million in the prior quarter and a 62% increase year-over-year[1]. - GAAP gross profit was $29.5 million, representing a gross margin of 51.1%, while non-GAAP gross profit was $33.5 million with a gross margin of 58.1%[1][8]. - GAAP net loss was $19.3 million, or $0.83 per diluted share, compared to a net loss of $26.8 million, or $1.16 per diluted share in the previous quarter[1][8]. - Non-GAAP net income was $9.6 million, or $0.40 per diluted share, compared to $2.8 million, or $0.12 per diluted share in the previous quarter[1][8]. Cash and Investments - Total cash, cash equivalents, and short-term investments were $434.8 million as of September 30, 2024[1]. - Cash and cash equivalents decreased to $8.5 million, down from $9.5 million, a decline of 10.3%[9]. - Short-term investments in held-to-maturity securities decreased by 17.8% to $426.3 million from $518.7 million[9]. Assets and Liabilities - Total assets decreased to $877.9 million as of September 30, 2024, down from $951.7 million on December 31, 2023, representing a decline of approximately 7.7%[9]. - Current assets fell to $545.7 million, a decrease of 12.4% from $623.2 million at the end of 2023[9]. - Accounts receivable increased to $30.2 million, up 37.9% from $21.9 million[9]. - Total liabilities decreased to $181.7 million, down 25.4% from $243.6 million[9]. - Current liabilities decreased to $94.9 million, a reduction of 21.7% from $121.4 million[9]. - Stockholders' equity slightly decreased to $696.2 million from $708.1 million, a decline of 1.3%[9]. - Accumulated deficit increased to $(163.2) million from $(88.4) million, indicating a worsening financial position[9]. Operational Highlights - All market segments experienced double-digit percentage growth sequentially, indicating strong demand across the board[1]. - The company incurred $12.9 million in costs related to the Aura transaction during Q3 2024[1]. - Research and development expenses were $26.5 million, while total operating expenses were $54.3 million[1][8]. - The company shipped over 3 billion devices, showcasing its significant market presence[5]. - SiTime's strategy focuses on high-value applications with differentiated product offerings, contributing to its growth trajectory[1]. - Property and equipment increased to $69.7 million, up from $54.7 million, reflecting a growth of 27.5%[9].

SANTA CLARA, Calif., Nov. 06, 2024 (GLOBE NEWSWIRE) -- SiTime Corporation, (Nasdaq: SITM), the Precision Timing company, today announced financial results for the third quarter ended September 30, 2024. Net revenue in the third quarter of 2024 was $57.7 million, a 32% increase from $43.9 million in the prior quarter and an increase of 62% from the year ago period. “We saw strong revenue and profit growth in Q3,” said Rajesh Vashist, CEO and chairman of SiTime. “All of our market segments grew by double-digi ...