SiTime (SITM) investor relations material

Executive summary

• Q2 2025 revenue rose 58% year-over-year to $69.5M, led by strong AI-driven demand in data center, communications, and enterprise markets.

• Non-GAAP net income was $11.6M ($0.47 per share), while GAAP net loss narrowed to $20.2M, reflecting improved profitability.

• Completed a $388M follow-on public offering, boosting cash and short-term investments to $796.7M with no debt.

• Diversified business across AI, automotive, industrial, defense, and consumer markets, with robust bookings and a healthy sales funnel.

• Granted 50,654 inducement RSUs to 24 new hires globally as part of talent acquisition.

Financial highlights

• Q2 2025 non-GAAP gross margin was 58.2%, up 80 basis points sequentially; GAAP gross margin was 52%.

• Non-GAAP operating income was $7.2M; GAAP operating loss was $24.6M.

• Generated $15.3M in cash from operations and invested $18.3M in capital expenditures during Q2.

• Operating expenses in Q2 2025 increased 13% YoY to $60.7M, mainly from higher R&D and SG&A costs.

• Top three distributors accounted for 66% of Q2 revenue; largest end customer represented 17%.

Outlook and guidance

• Q3 2025 revenue expected between $77M and $79M, with gross margins of 58–59% and operating expenses of $34M–$34.5M.

• Non-GAAP EPS guidance for Q3 is $0.67–$0.75 per share; interest income expected at $7.5M–$8M.

• Sequential revenue growth anticipated in Q3 and Q4, with full-year revenue growth projected at least 40% for the second consecutive year.

• Management expects continued investment in R&D and sales to support growth, with expenses to rise in absolute dollars.

• Existing cash and investments expected to meet operating needs for at least the next 12 months.