SiTime(SITM)

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SiTime (SITM) Q3 Earnings and Revenues Surpass Estimates
ZACKS· 2024-11-07 00:26
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 ...
SiTime(SITM) - 2024 Q3 - Quarterly Results
2024-11-06 21:08
Exhibit 99.1 SiTime Reports Third Quarter 2024 Financial Results SANTA CLARA, Calif., November 6, 2024 – 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 SiTim ...
SiTime Reports Third Quarter 2024 Financial Results
GlobeNewswire News Room· 2024-11-06 21:05
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 ...
SiTime (SITM) Moves 5.1% Higher: Will This Strength Last?
ZACKS· 2024-07-17 12:51
The increase in share price can be attributed to robust demand for the company's diversified product portfolio. The company is also expanding its portfolio through acquisitions. Alongside its innovative products, SiTime is benefiting from strength in its single-source business and increased design wins. For SiTime, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate re ...
SiTime(SITM) - 2024 Q1 - Quarterly Report
2024-05-09 20:07
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q ________________________________________________________ (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-39135 ________________________________________________ ...
SiTime(SITM) - 2024 Q1 - Earnings Call Transcript
2024-05-08 23:57
Financial Data and Key Metrics Changes - Revenue for Q1 2024 was $33 million, down 22% from $42.4 million in Q4 2023, aligning with typical seasonality [31] - Non-GAAP gross margins were 57.9%, a decrease of 40 basis points sequentially, impacted by lower volumes but partially offset by favorable product mix and cost [24][20] - Non-GAAP operating loss for Q1 was $8.3 million, with interest and other income of $6.3 million, resulting in a non-GAAP net loss of $1.9 million or $0.08 per share [24] Business Line Data and Key Metrics Changes - Sales into the communications, enterprise, and data center (CED) market were $9.9 million, accounting for 30% of total sales [31] - Sales into the mobile, IoT, and consumer market were $10.3 million, representing 31% of total sales, with the largest customer contributing $6.3 million or 19% of sales [31] - Sales into the automotive, industrial, and aerospace market were $12.9 million, making up 39% of total sales [31] Market Data and Key Metrics Changes - In North America, there is a strong demand for precision timing solutions in enterprise AI systems and data center infrastructure [16] - In Taiwan and China, engagement with key ODMs and OEMs is expected to benefit from the transition to 800G optical modules [17] - The automotive market is anticipated to grow despite current uncertainties in EV growth, with a focus on ADAS electronics [29] Company Strategy and Development Direction - The company is focusing on the CED market, bundling clocks and oscillators to meet precision timing needs, particularly in AI and telecom [1] - The strategy includes expanding the serviceable market (SAM) with a broader product portfolio, including the introduction of 40 new clocks by the end of 2024 [21] - The company aims to leverage strengths in end market diversity and product breadth to return to a target growth rate [30] Management's Comments on Operating Environment and Future Outlook - Management noted that customer inventory levels are returning to normal, which is expected to support growth in Q2 and beyond [35] - The company anticipates sequential growth throughout 2024, with revenue expectations for Q2 between $40 million and $42 million, representing a 21% to 27% increase sequentially [26] - Management expressed confidence in achieving a revenue target of $100 million in the CED market in the coming years [43] Other Important Information - Total operating expenses for Q1 were $27.4 million, with R&D expenses at $16.4 million and SG&A expenses at $11 million [24] - The company ended the quarter with $517 million in cash, cash equivalents, and short-term investments [64] Q&A Session Summary Question: What is driving growth across product segments? - Growth is expected from all segments, with CED, automotive, and industrial markets performing well, while consumer growth is also anticipated [34] Question: Are customers through the inventory correction? - Most customers are expected to be through the inventory correction by the end of Q2, returning to normal buying patterns [35] Question: What is the outlook for the second half of the year? - A stronger second half is anticipated, with expectations of normal seasonal strength as customers emerge from inventory corrections [37][48] Question: How is pricing pressure affecting the automotive segment? - Pricing pressure is noted in the automotive segment, primarily due to EV pricing, but overall pricing remains stable across other segments [55][56] Question: What is the expected growth rate for the company? - The company maintains a long-term growth expectation of around 30%, with significant potential for growth in Q3 and Q4 [51][55]
SiTime(SITM) - 2024 Q1 - Quarterly Results
2024-05-08 20:14
SiTime Reports First Quarter 2024 Financial Results Exhibit 99.1 In December 2023, SiTime closed the acquisition of certain assets and an exclusive license to certain intellectual property, subject to certain covenants and restrictions, from Aura Semiconductor Pvt. Ltd. and certain of its affiliates relating to Aura's timing business and clock products. The purchase price has been allocated to the fair value of the intangible assets acquired based on estimates and assumptions made by management at the time ...
SiTime(SITM) - 2023 Q4 - Annual Report
2024-02-26 21:05
Part I [Business](index=8&type=section&id=Item%201.%20Business) The company leads in silicon MEMS Precision Timing solutions for diverse electronics markets - SiTime is a leading provider of Precision Timing solutions, including oscillators, clock ICs, and resonators, using **all-silicon MEMS technology**[22](index=22&type=chunk) - In December 2023, the company **acquired Aura Semiconductor's timing business** to expand its portfolio of clock products[26](index=26&type=chunk)[27](index=27&type=chunk) Key Customer Revenue Contribution (as a % of total revenue) | Customer (Distributor) | 2023 | 2022 | 2021 | | :--- | :--- | :--- | :--- | | Pernas Electronics Co., Ltd. | 20% | 20% | 24% | | Arrow Electronics, Inc. | 18% | 17% | 14% | | Quantek Technology Corporation | 13% | 12% | 10% | | Sabre Technologies Pte. Ltd | 10% | 6% | 4% | - Sales attributable to the largest end customer, **Apple Inc., accounted for approximately 21% of revenue in 2023**, 20% in 2022, and 22% in 2021[52](index=52&type=chunk) - The company operates a **fabless business model**, utilizing third-party foundries and contractors for manufacturing, including Bosch for MEMS wafers and TSMC for analog ICs[57](index=57&type=chunk)[65](index=65&type=chunk) - As of December 31, 2023, the company had 382 full-time equivalent employees, with **181 (47%) dedicated to research and development**[62](index=62&type=chunk)[78](index=78&type=chunk) [Risk Factors](index=18&type=section&id=Item%201A.%20Risk%20Factors) The company faces significant risks from macroeconomic conditions, customer concentration, and supply chain dependency - **Global macroeconomic conditions**, such as inflation and recession fears, and the cyclical nature of the semiconductor industry have harmed and may continue to harm the business[81](index=81&type=chunk)[82](index=82&type=chunk)[84](index=84&type=chunk) - The company depends on a limited number of customers, with sales to its largest end customer, **Apple, accounting for approximately 21% of revenue in 2023**[85](index=85&type=chunk) - SiTime **relies on third parties for all manufacturing operations**, including Bosch for MEMS wafer fabrication and TSMC for analog circuits, creating supply chain risks[94](index=94&type=chunk)[95](index=95&type=chunk)[97](index=97&type=chunk) - A significant portion of operations are located outside the U.S. (e.g., Taiwan, Ukraine), subjecting the company to **geopolitical instability** and other international risks[102](index=102&type=chunk)[105](index=105&type=chunk) - A **material weakness was identified in the company's internal control over financial reporting** related to the misclassification of certain cash flows[167](index=167&type=chunk) - **MegaChips Corporation owns approximately 20.7%** of the company's common stock as of December 31, 2023, giving it significant influence over stockholder matters[201](index=201&type=chunk) [Unresolved Staff Comments](index=42&type=section&id=Item%201B.%20Unresolved%20Staff%20Comments) The company reports no unresolved staff comments from the SEC - None[219](index=219&type=chunk) [Cybersecurity](index=42&type=section&id=Item%201C.%20Cybersecurity) The company manages cybersecurity risk through a program based on the NIST framework with Audit Committee oversight - The company's cybersecurity risk management program leverages the **National Institute of Standards and Technology (NIST) Cybersecurity Framework**[220](index=220&type=chunk) - The Board of Directors has delegated oversight of cybersecurity matters to the **Audit Committee**, which receives quarterly reports from management[226](index=226&type=chunk)[227](index=227&type=chunk) - The IT management team, led by the Senior Director of IT, is responsible for the day-to-day implementation and management of the cybersecurity program[228](index=228&type=chunk) [Properties](index=43&type=section&id=Item%202.%20Properties) The company leases all its facilities, including its principal executive offices in Santa Clara, California - The company's principal executive offices are in a leased facility of approximately **50,400 square feet in Santa Clara, California**, under a lease that expires in March 2027[230](index=230&type=chunk) - The company **does not own any real property** and leases all its facilities, including international offices in Japan, Malaysia, the Netherlands, Taiwan, and Ukraine[230](index=230&type=chunk) [Legal Proceedings](index=43&type=section&id=Item%203.%20Legal%20Proceedings) The company is not currently a party to any material legal proceedings - The company is not currently party to any material legal proceedings[231](index=231&type=chunk) [Mine Safety Disclosures](index=44&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This item is not applicable to the company - Not applicable[232](index=232&type=chunk) Part II [Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities](index=45&type=section&id=Item%205.%20Market%20for%20Registrant's%20Common%20Equity%2C%20Related%20Stockholder%20Matters%20and%20Issuer%20Purchases%20of%20Equity%20Securities) The company's stock trades on Nasdaq, with no dividends planned as earnings are retained for growth - The company's common stock trades on the Nasdaq Global Market under the symbol **"SITM"**[234](index=234&type=chunk) - The company has **never paid cash dividends** and does not intend to for the foreseeable future[235](index=235&type=chunk) Stock Performance Comparison (Cumulative Total Return) | Company/Index | 11/21/2019 | 12/31/2020 | 12/31/2021 | 12/31/2022 | 12/31/2023 | | :--- | :--- | :--- | :--- | :--- | :--- | | SiTime Corporation | 100.00 | 662.31 | 1,731.01 | 601.30 | 722.37 | | Nasdaq Composite Index | 100.00 | 151.13 | 183.46 | 122.73 | 176.03 | | Philadelphia Semiconductor Index | 100.00 | 165.10 | 233.06 | 149.55 | 246.61 | [[Reserved]](index=47&type=section&id=Item%206.%20%5BReserved%5D) This item is reserved [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=48&type=section&id=Item%207.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Financial performance declined in 2023 due to market headwinds, resulting in lower revenue and a net loss - The company believes that macroeconomic events in 2022 and 2023 led to reduced demand for customers' products, resulting in an **inventory buildup that adversely affected sales**[251](index=251&type=chunk) - In December 2023, the company acquired assets and licensed IP from Aura for a purchase price of approximately **$148 million in cash**, plus potential earnout payments up to $120 million[247](index=247&type=chunk) [Results of Operations](index=51&type=section&id=Results%20of%20Operations) Revenue and gross margin fell in 2023 due to lower sales volume, while operating expenses increased Consolidated Results of Operations (in thousands) | Metric | 2023 | 2022 | 2021 | | :--- | :--- | :--- | :--- | | Revenue | $143,993 | $283,605 | $218,808 | | Gross Profit | $82,088 | $182,962 | $139,462 | | Gross Margin | 57% | 65% | 64% | | Income (loss) from operations | $(107,200) | $16,142 | $32,843 | | Net income (loss) | $(80,535) | $23,254 | $32,277 | - The **49% decrease in revenue for 2023** was primarily driven by a 47% decrease in sales volume and a change in product mix leading to lower ASPs[264](index=264&type=chunk) - **R&D expense increased by 8% in 2023**, mainly due to a $7.7 million increase in stock-based compensation and a $5.1 million decrease in non-recurring engineering contra-expense[273](index=273&type=chunk) - **Selling, general and administrative (SG&A) expense increased by 10% in 2023**, primarily due to a $10.8 million increase in stock-based compensation expense[276](index=276&type=chunk) - **Acquisition-related costs of $7.7 million** were incurred in 2023 related to the Aura transaction[277](index=277&type=chunk) [Liquidity and Capital Resources](index=55&type=section&id=Liquidity%20and%20Capital%20Resources) The company maintains strong liquidity with over $528 million in cash and short-term investments Summary of Cash Flows (in thousands) | Activity | 2023 | 2022 | 2021 | | :--- | :--- | :--- | :--- | | Net cash provided by operating activities | $8,056 | $39,752 | $59,078 | | Net cash used in investing activities | $(36,660) | $(560,088) | $(33,788) | | Net cash provided by (used in) financing activities | $3,469 | $(4,522) | $460,646 | - As of December 31, 2023, the company held **$9.5 million in cash and cash equivalents** and **$518.7 million in short-term investments** (Treasury Bills)[283](index=283&type=chunk) - In 2023, the company sold 400,000 shares under its Sales Agreement, generating **net proceeds of $44.8 million**[285](index=285&type=chunk)[296](index=296&type=chunk) - The company believes its existing cash, cash equivalents, and short-term investments will be **sufficient to meet its cash needs for at least the next 12 months**[288](index=288&type=chunk) [Critical Accounting Estimates](index=57&type=section&id=Critical%20Accounting%20Estimates) Key accounting estimates involve revenue recognition, business combinations, and inventory valuation - Revenue recognition involves estimating variable consideration, such as price adjustments and returns, which has historically been in the range of **2% to 4% quarterly**[300](index=300&type=chunk) - Accounting for business combinations requires significant estimates for the fair value of acquired assets and liabilities, especially **intangible assets and contingent consideration**[301](index=301&type=chunk)[302](index=302&type=chunk) - Inventory is valued at the lower of cost or net realizable value, with write-downs for **excess and obsolete inventory** based on management's forecasts of future demand[306](index=306&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=58&type=section&id=Item%207A.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company is primarily exposed to foreign currency risk and interest rate risk - The company's primary market risks are **foreign currency exchange risk and interest rate risk**[308](index=308&type=chunk)[309](index=309&type=chunk) - As of December 31, 2023, a hypothetical **10% change in market interest rates** would change interest income by approximately **$2.7 million**[310](index=310&type=chunk) [Financial Statements and Supplementary Data](index=59&type=section&id=Item%208.%20Financial%20Statements%20and%20Supplementary%20Data) This section contains the audited consolidated financial statements and the independent auditor's report - The independent auditor, BDO USA, P.C., identified the **valuation of assets from the Aura acquisition as a critical audit matter** due to significant management judgments[318](index=318&type=chunk)[319](index=319&type=chunk) Consolidated Balance Sheet Highlights (in thousands) | Account | Dec 31, 2023 | Dec 31, 2022 | | :--- | :--- | :--- | | Total Current Assets | $623,242 | $669,067 | | Total Assets | $951,683 | $750,616 | | Total Current Liabilities | $121,394 | $33,794 | | Total Liabilities | $243,631 | $42,136 | | Total Stockholders' Equity | $708,052 | $708,480 | - The Aura acquisition had a total purchase consideration fair value of **$259.2 million**, which included fixed consideration of $139.9 million and an estimated earnout liability of $102.3 million[388](index=388&type=chunk)[389](index=389&type=chunk) - The acquisition resulted in the recognition of **$96.7 million in developed technology**, $69.5 million in in-process R&D, and $87.1 million in goodwill[391](index=391&type=chunk)[392](index=392&type=chunk) Revenue by Geographic Region (in thousands) | Region | 2023 | 2022 | 2021 | | :--- | :--- | :--- | :--- | | Taiwan | $43,954 | $101,849 | $66,390 | | Hong Kong | $31,987 | $59,209 | $82,503 | | United States | $19,976 | $33,470 | $14,221 | | Singapore | $16,466 | $22,439 | $14,371 | | Other | $31,610 | $66,638 | $41,323 | | **Total** | **$143,993** | **$283,605** | **$218,808** | [Changes in and Disagreements With Accountants on Accounting and Financial Disclosure](index=96&type=section&id=Item%209.%20Changes%20in%20and%20Disagreements%20With%20Accountants%20on%20Accounting%20and%20Financial%20Disclosure) The company reports no changes in or disagreements with its accountants - None[455](index=455&type=chunk) [Controls and Procedures](index=96&type=section&id=Item%209A.%20Controls%20and%20Procedures) Disclosure controls were deemed ineffective due to a material weakness in internal control over financial reporting - Management concluded that **disclosure controls and procedures were not effective** as of December 31, 2023[457](index=457&type=chunk)[464](index=464&type=chunk) - A **material weakness was identified** in internal control over financial reporting due to a deficiency in the review control over the classification of cash flows from investments[458](index=458&type=chunk)[472](index=472&type=chunk) - A **remediation plan has been implemented**, including an enhanced review checklist, and is expected to be completed prior to the end of fiscal year 2024[459](index=459&type=chunk)[460](index=460&type=chunk) - The company's independent registered public accounting firm, BDO USA, P.C., issued an **adverse opinion on the effectiveness of the company's internal control** over financial reporting[465](index=465&type=chunk)[467](index=467&type=chunk) [Other Information](index=100&type=section&id=Item%209B.%20Other%20Information) This section details a recent executive promotion and the adoption of Rule 10b5-1 trading plans by insiders - **Samsheer Ahmad was promoted** to Senior Vice President, Finance and Chief Accounting Officer on February 24, 2024[475](index=475&type=chunk) - Several directors and officers, including Lionel Bonnot, Piyush Sevalia, Vincent Pangrazio, and Kate Schuelke, **adopted Rule 10b5-1 trading plans** in late 2023[476](index=476&type=chunk) [Disclosure Regarding Foreign Jurisdictions that Prevent Inspections](index=100&type=section&id=Item%209C.%20Disclosure%20Regarding%20Foreign%20Jurisdictions%20that%20Prevent%20Inspections) This item is not applicable to the company - Not applicable[477](index=477&type=chunk) Part III [Directors, Executive Officers and Corporate Governance](index=101&type=section&id=Item%2010.%20Directors%2C%20Executive%20Officers%20and%20Corporate%20Governance) Information regarding directors, officers, and corporate governance is incorporated by reference from the 2024 Proxy Statement - Required information is **incorporated by reference** from the definitive proxy statement for the 2024 Annual Meeting of Stockholders[479](index=479&type=chunk) [Executive Compensation](index=101&type=section&id=Item%2011.%20Executive%20Compensation) Information regarding executive compensation is incorporated by reference from the 2024 Proxy Statement - Required information is **incorporated by reference** from the definitive proxy statement for the 2024 Annual Meeting of Stockholders[484](index=484&type=chunk) [Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters](index=101&type=section&id=Item%2012.%20Security%20Ownership%20of%20Certain%20Beneficial%20Owners%20and%20Management%20and%20Related%20Stockholder%20Matters) Details on security ownership are incorporated by reference, with a summary of equity compensation plans provided Equity Compensation Plan Information as of December 31, 2023 | Plan Category | Securities to be Issued Upon Exercise | Securities Remaining for Future Issuance | | :--- | :--- | :--- | | Equity compensation plans approved by stockholders | 1,387,465 | 1,344,878 | | Equity compensation plans not approved by stockholders | 245,454 | 204,439 | | **Total** | **1,632,919** | **1,549,317** | [Certain Relationships and Related Transactions, and Director Independence](index=102&type=section&id=Item%2013.%20Certain%20Relationships%20and%20Related%20Transactions%2C%20and%20Director%20Independence) Information on related party transactions and director independence is incorporated by reference from the 2024 Proxy Statement - Required information is **incorporated by reference** from the definitive proxy statement for the 2024 Annual Meeting of Stockholders[489](index=489&type=chunk) [Principal Accounting Fees and Services](index=102&type=section&id=Item%2014.%20Principal%20Accounting%20Fees%20and%20Services) Information regarding principal accountant fees and services is incorporated by reference from the 2024 Proxy Statement - Required information is **incorporated by reference** from the definitive proxy statement for the 2024 Annual Meeting of Stockholders[490](index=490&type=chunk) Part IV [Exhibits, Financial Statement Schedules](index=103&type=section&id=Item%2015.%20Exhibits%2C%20Financial%20Statement%20Schedules) This section lists all financial statements, schedules, and exhibits filed with the Form 10-K - This section provides an index of all financial statements, schedules, and exhibits filed with the 10-K report[493](index=493&type=chunk)[495](index=495&type=chunk) [Form 10-K Summary](index=107&type=section&id=Item%2016.%20Form%2010-K%20Summary) The company reports that there is no Form 10-K summary - None[501](index=501&type=chunk)
SiTime(SITM) - 2023 Q4 - Earnings Call Transcript
2024-02-14 02:20
Financial Data and Key Metrics Changes - Revenue for Q4 2023 was $42.4 million, up 19% sequentially, and at the higher end of the outlook range [20][22] - Non-GAAP gross margins were 58.3%, an increase of 10 basis points sequentially [36] - Non-GAAP EPS was $0.24 per share compared to $0.06 in Q3 [22] Business Line Data and Key Metrics Changes - Sales into mobile, IoT, and consumer segments were $17.1 million, or 40% of sales, down 4% from Q3 [20] - Sales into industrial, automotive, and aerospace segments were $15.6 million, or 37% of sales, up 19% from Q3 [21] - Sales into communications and enterprise segments increased 64% sequentially to $9.7 million, or 23% of sales [21] Market Data and Key Metrics Changes - Sales into data center and communication segments were up 64% from Q3 to Q4 2023, with expectations for 50% growth in 2024 [16] - The consumer market showed mixed results, with some growth expected but challenges in the automotive sector [40][70] Company Strategy and Development Direction - The company aims for sequential growth throughout 2024, with expectations for revenue to exceed 2023 levels and return to a model of 30% annual growth [17][35] - The acquisition of Aura Semiconductor's clocking products is seen as a key milestone in expanding the served market [28] - The company is focusing on AI applications, with strong engagement with top cloud service providers and AI server suppliers [29][30] Management's Comments on Operating Environment and Future Outlook - Management noted that 2023 was characterized by declining revenue in the first half due to over-ordering and weak demand, but the second half showed improvement [14] - The company expects to navigate the current environment with unique technology addressing a large and growing market [24] - Management expressed optimism about growth in the data center and AI segments, while acknowledging mixed signals in other markets [40][70] Other Important Information - Non-GAAP operating loss for Q4 was $1.9 million, an improvement of $3.7 million sequentially [22] - The company ended Q4 with $528 million in cash, cash equivalents, and short-term investments [37] Q&A Session Summary Question: Guidance expectations for each market segment - Management indicated positive growth in consumer and data center markets, while automotive showed mixed potential [25][26] Question: Customer inventory status - Management confirmed continued improvement in channel inventory drawdown, with expectations for normalization by Q2 [59] Question: Visibility into data center growth - Management highlighted strong engagement with major platforms and expected significant growth in the data center segment [61] Question: Impact of Aura acquisition on customer relationships - Management noted that the integration of Aura's products is enhancing relationships with partners and customers [46] Question: Future revenue growth expectations - Management indicated that while growth is expected to return to 30%, it may take time to reach previous revenue highs [88]
SiTime(SITM) - 2023 Q3 - Quarterly Report
2023-11-02 20:23
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q ________________________________________________________ (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-39135 ____________________________________________ ...