SiTime (SITM) Q4 2023 earnings summary

Executive summary

• Q4 2023 revenue was $42.4M, up 19% QoQ; FY 2023 revenue was $144.0M versus $283.6M in FY 2022.

• Q4 non-GAAP net income was $5.5M, or $0.24 per diluted share, versus a GAAP net loss of $20.0M, or $0.89 per basic share.

Financial highlights

• FY 2023 GAAP gross profit was $82.1M, operating expenses were $189.3M, operating loss was $107.2M, and net loss was $80.5M.

• FY 2023 non-GAAP gross profit was $85.2M, operating expenses were $107.6M, operating loss was $22.4M, and net income was $4.2M.

• Q4 GAAP gross profit was $23.7M and operating expenses were $51.2M; non-GAAP gross profit was $24.7M and operating expenses were $26.6M.

Segment performance

• Q4 and FY 2023 results were presented on a consolidated basis, with no segment breakdown in the reported figures.