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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.

SiTime granted restricted stock unit awards (“RSUs”) on August 4, 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 24 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 50,654 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.

SiTime will broadcast the financial results for its second quarter of 2025 via conference call today, August 6, 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.

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 June 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.


	Three months ended
	June 30, 2025		March 31, 2025		June 30, 2024

	(in thousands, except per share data)
Revenue	$	69,494	$	60,314	$	43,866
Cost of revenue	33,442		29,978		22,343
Gross profit	36,052		30,336		21,523
Operating expenses:
Research and development	30,563		30,026		25,490
Selling, general and administrative	28,228		26,856		25,190
Acquisition related costs	1,872		1,562		3,163
Total operating expenses	60,663		58,444		53,843
Loss from operations	(24,611)		(28,108)		(32,320)
Interest income	4,263		4,294		5,736
Other income (expense), net	204		4		(203)
Loss before income taxes	(20,144)		(23,810)		(26,787)
Income tax (expense) benefit	(35)		(67)		18
Net loss	$	(20,179)	$	(23,877)	$	(26,769)
Net loss attributable to common stockholders and comprehensive loss	$	(20,179)	$	(23,877)	$	(26,769)
Net loss per share attributable to common stockholders, basic	$	(0.84)	$	(1.01)	$	(1.16)
Net loss per share attributable to common stockholders, diluted	$	(0.84)	$	(1.01)	$	(1.16)
Weighted-average shares used to compute basic net loss per share	23,923		23,653		22,997
Weighted-average shares used to compute diluted net loss per share	23,923		23,653		22,997


	Six Months Ended
	June 30, 2025		June 30, 2024

	(in thousands, except per share data)
Revenue	$	129,808	$	76,888
Cost of revenue	63,421		37,705
Gross profit	66,387		39,183
Operating expenses:
Research and development	60,589		51,034
Selling, general and administrative	55,086		49,102
Acquisition related costs	3,433		6,405
Total operating expenses	119,108		106,541
Loss from operations	(52,721)		(67,358)
Interest income	8,557		12,296
Other expense, net	210		(416)
Loss before income taxes	(43,954)		(55,478)
Income tax (expense) benefit	(102)		5
Net loss	$	(44,056)	$	(55,473)
Net loss attributable to common stockholders and comprehensive loss	$	(44,056)	$	(55,473)
Net loss per share attributable to common stockholders, basic	$	(1.85)	$	(2.42)
Net loss per share attributable to common stockholders, diluted	$	(1.85)	$	(2.42)
Weighted-average shares used to compute basic net loss per share	23,790		22,881
Weighted-average shares used to compute diluted net loss per share	23,790		22,881

Unaudited Reconciliation of Non-GAAP Adjustments


	Three months ended
	June 30, 2025			March 31, 2025			June 30, 2024
	(in thousands, except per share data)
Reconciliation of GAAP gross profit and margin to non-GAAP
Revenue	$	69,494		$	60,314		$	43,866
GAAP gross profit	36,052			30,336			21,523
GAAP gross margin	51.9		%	50.3		%	49.1		%
Amortization of acquired intangibles	3,573			3,573			3,463
Stock-based compensation	825			701			327
Non-GAAP gross profit	$	40,450		$	34,610		$	25,313
Non-GAAP gross margin	58.2		%	57.4		%	57.7		%

Reconciliation of GAAP operating expenses to non-GAAP
GAAP research and development expenses	$	30,563		$	30,026		$	25,490
Stock-based compensation	(11,044)			(10,682)			(9,414)
Non-GAAP research and development expenses	$	19,519		$	19,344		$	16,076

GAAP sales, general and administrative expenses	$	28,228		$	26,856		$	25,190
Stock-based compensation	(14,457)			(13,663)			(13,176)

Non-GAAP sales, general and administrative expenses	$	13,771		$	13,193		$	12,014

GAAP acquisition related costs	$	1,872		$	1,562		$	3,163
Acquisition related costs	(1,872)			(1,562)			(3,163)
Non-GAAP acquisition related costs	$	—		$	—		$	—
Total Non-GAAP operating expenses	$	33,290		$	32,537		$	28,090

Reconciliation of GAAP loss from operations to non-GAAP income (loss) from operations
GAAP loss from operations	$	(24,611)		$	(28,108)		$	(32,320)
Acquisition related costs	1,872			1,562			3,163

Amortization of acquired intangibles	3,573			3,573			3,463
Stock-based compensation	26,326			25,046			22,917
Non-GAAP income (loss) from operations	$	7,160		$	2,073		$	(2,777)
Non-GAAP income (loss) from operations as a percentage of revenue	10.3		%	3.4		%	(6.3		%)

Reconciliation of GAAP net loss to non-GAAP net income
GAAP net loss	$	(20,179)		$	(23,877)		$	(26,769)
Acquisition related costs	1,872			1,562			3,163

Amortization of acquired intangibles	3,573			3,573			3,463
Stock-based compensation	26,326			25,046			22,917
Non-GAAP net income	$	11,592		$	6,304		$	2,774
Weighted-average shares used to compute diluted net income per share (1)	24,633			24,412			22,997

GAAP net loss per share diluted	$	(0.84)		$	(1.01)		$	(1.16)
Non-GAAP adjustments detailed above	1.31			1.27			1.28
Non-GAAP net income per share diluted	$	0.47		$	0.26		$	0.12

Unaudited Reconciliation of Non-GAAP Adjustments


	Six Months Ended
	June 30, 2025			June 30, 2024
	(in thousands, except per share data)
Reconciliation of GAAP gross profit and margin to non-GAAP
Revenue	$	129,808		$	76,888
GAAP gross profit	66,387			39,183
GAAP gross margin	51.1		%	51.0		%
Amortization of acquired intangibles	7,145			4,747
Stock-based compensation	1,526			507
Non-GAAP gross profit	$	75,058		$	44,437
Non-GAAP gross margin	57.8		%	57.8		%

Reconciliation of GAAP operating expenses to non-GAAP
GAAP research and development expenses	$	60,589		$	51,034
Stock-based compensation	(21,726)			(18,590)
Non-GAAP research and development expenses	$	38,863		$	32,444

GAAP sales, general and administrative expenses	$	55,086		$	49,102
Stock-based compensation	(28,119)			(25,523)
Acquisition related integration costs	—			(550)
Non-GAAP sales, general and administrative expenses	$	26,967		$	23,029

GAAP acquisition related costs	$	3,433		$	6,405
Acquisition related costs	(3,433)			(6,405)
Non-GAAP acquisition related costs	$	—		$	—
Total Non-GAAP operating expenses	$	65,830		$	55,473

Reconciliation of GAAP loss from operations to non-GAAP income (loss) from operations
GAAP loss from operations	$	(52,721)		$	(67,358)
Amortization of acquired intangibles	7,145			4,747
Acquisition related costs	3,433			6,405
Acquisition related integration costs	—			550
Stock-based compensation	51,371			44,620
Non-GAAP income (loss) from operations	$	9,228		$	(11,036)
Non-GAAP income (loss) from operations as a percentage of revenue	7.1		%	(14.4		%)

Reconciliation of GAAP net loss to non-GAAP net income
GAAP net loss	$	(44,056)		$	(55,473)
Amortization of acquired intangibles	7,145			4,747
Acquisition related costs	3,433			6,405
Acquisition related integration costs	—			550
Stock-based compensation	51,371			44,621
Non-GAAP net income	$	17,893		$	850
Weighted-average shares used to compute diluted net income per share (1)	24,566			23,313

GAAP net loss per share diluted	$	(1.85)		$	(2.42)
Non-GAAP adjustments detailed above	2.58			2.46
Non-GAAP net income per share diluted	$	0.73		$	0.04


	As of
	June 30, 2025		December 31, 2024

	(in thousands)
Assets:
Current assets:
Cash and cash equivalents	$	172,522	$	6,106
Short-term investments in held-to-maturity securities	624,144		412,728
Accounts receivable, net	26,866		38,209
Inventories	84,126		76,741
Prepaid expenses and other current assets	11,243		10,276
Total current assets	918,901		544,060
Property and equipment, net	99,861		82,475
Intangible assets, net	155,944		163,558
Right-of-use assets, net	5,648		6,569
Goodwill	87,098		87,098
Other assets	1,684		1,199
Total assets	$	1,269,136	$	884,959
Liabilities and Stockholders' Equity:
Current liabilities:
Accounts payable	$	13,063	$	22,894
Accrued expenses and other current liabilities	94,479		85,555
Total current liabilities	107,542		108,449
Other non-current liabilities	60,913		76,791
Total liabilities	168,455		185,240
Commitments and contingencies
Stockholders’ equity:
Common stock	3		2
Additional paid-in capital	1,326,735		881,718
Accumulated deficit	(226,057)		(182,001)
Total stockholders’ equity	1,100,681		699,719
Total liabilities and stockholders’ equity	$	1,269,136	$	884,959