Q3 Net Revenue Increased 257% to $298.7 Million
SANTA CLARA, Calif., Nov. 04, 2026 (GLOBE NEWSWIRE) — SiTime Corporation, (Nasdaq: SITM), the Precision Timing company, today announced financial results for the third quarter ended September 30, 2026.
Net revenue in the third quarter of 2026 was $298.7 million, as compared to $83.6 million in the year ago quarter.
“With its rapid organic growth and the addition of TPD, SiTime is now operating at a new level of scale and financial performance,” said Rajesh Vashist, chairman and CEO of SiTime. “In Q3, growth was broad-based, demonstrating strength well beyond any single market. Simultaneously, core CED revenue grew 202% year over year as the AI infrastructure buildout continued to drive demand for differentiated timing. TPD integration has gone exceptionally well across our teams, customers and roadmap. We exited the quarter with an annualized revenue run rate above $1 billion and substantial opportunity still ahead.”
In the third quarter of 2026, GAAP gross profit was $154.1 million, or 51.6% of revenue, GAAP operating expenses were $145.8 million, GAAP income from operations was $8.3 million, and GAAP net income was $4.4 million, or $0.14 per diluted share.
In the third quarter of 2026, non-GAAP gross profit was $211.1 million, or 70.7% of revenue, non-GAAP operating expenses were $81.6 million, non-GAAP income from operations was $129.5 million and non-GAAP net income was $130.3 million, or $4.01 per diluted share.
Total cash, cash equivalents and short-term investments were $324.3 million on September 30, 2026.
SiTime plans to discuss its business outlook as part of today’s scheduled conference call.
SiTime also announced a three-for-one forward stock split of SiTime’s issued common stock to make stock ownership more accessible to employees and investors. The split will be effected through an amendment to SiTime’s Amended and Restated Certificate of Incorporation, which will result in a proportionate increase in the number of shares of authorized common stock. Each record holder of common stock as of the close of market on Thursday, December 3, 2026, will receive two additional shares of common stock for each one share of common stock owned, to be distributed after the close of market on Friday, December 4, 2026. Trading is expected to commence on a split-adjusted basis at market open on Monday, December 7, 2026.
Use of Non-GAAP Financial Information
This press release and its attachments include certain non-GAAP supplemental performance measures. The presentation of this financial information is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with GAAP.
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, amortization of inventory step-up costs, amortization of financing related transaction costs, 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.
Inducement Plan Grants
SiTime granted restricted stock unit awards (“RSUs”) on November 2, 2026 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 the employment of 71 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 47,976 RSUs. For these newly hired individuals, 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 will 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 RSU grants and SiTime’s Amended and Restated 2022 Inducement Award Plan.
Conference Call
SiTime will broadcast the financial results for its third quarter of 2026 via conference call today, November 4, 2026, 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.
About SiTime
SiTime is the Precision Timing company. Our people and products help engineers build the impossible. Customers trust SiTime solutions in more than 400 applications, including AI hardware, autonomous vehicles, low Earth orbit satellites and wearables. Built on decades of innovation, our oscillators, clocks, resonators and software deliver higher system performance, greater resilience and better reliability. For more information, visit www.sitime.com.
Forward-Looking Statements
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 Securities 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 (the “SEC”) and other filings SiTime makes with the SEC from time to time, including SiTime’s Annual Report on Form 10-K that has been filed for the year ended December 31, 2025. 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 September 30, 2026 and SiTime’s other filings with the SEC. 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.
SiTime Corporation
Unaudited GAAP Condensed Consolidated Statements of Operations
Three months ended September 30, 2026 June 30, 2026 September 30, 2025 (in thousands, except per share data)Revenue$298,671 $157,432 $83,567 Cost of revenue 144,553 58,290 38,850 Gross profit 154,118 99,142 44,717 Operating expenses: Research and development 62,412 36,117 30,009 Selling, general and administrative 62,085 46,301 30,603 Acquisition related costs 21,288 8,509 126 Total operating expenses 145,785 90,927 60,738 Income (loss) from operations 8,333 8,215 (16,021)Interest income 1,487 12,545 8,275 Interest expense (5,094) (2,247) — Other expense, net (199) (317) (157)Income (loss) before income taxes 4,527 18,196 (7,903)Income tax expense (174) (40) (111)Net income (loss)$4,353 $18,156 $(8,014)Net income (loss) attributable to common stockholders and comprehensive income (loss)$4,353 $18,156 $(8,014)Net income (loss) per share attributable to common stockholders, basic$0.14 $0.69 $(0.31)Net income (loss) per share attributable to common stockholders, diluted$0.14 $0.66 $(0.31)Weighted-average shares used to compute basic net income (loss) per share 30,134 26,450 26,048 Weighted-average shares used to compute diluted net income (loss) per share 31,170 27,490 26,048
SiTime Corporation
Unaudited GAAP Condensed Consolidated Statements of Operations
Nine Months Ended September 30, 2026 September 30, 2025 (in thousands, except per share data)Revenue$569,670 $213,375 Cost of revenue 249,455 102,270 Gross profit 320,215 111,105 Operating expenses: Research and development 131,266 90,598 Selling, general and administrative 147,322 85,689 Acquisition related costs 37,417 3,560 Total operating expenses 316,005 179,847 Income (loss) from operations 4,210 (68,742)Interest income 21,342 16,832 Interest expense (7,341) — Other (expense) income, net (691) 53 Income (loss) before income taxes 17,520 (51,857)Income tax expense (228) (213)Net income (loss)$17,292 $(52,070)Net income (loss) attributable to common stockholders and comprehensive income (loss)$17,292 $(52,070)Net income (loss) per share attributable to common stockholders, basic$0.63 $(2.12)Net income (loss) per share attributable to common stockholders, diluted$0.60 $(2.12)Weighted-average shares used to compute basic net income (loss) per share 27,656 24,551 Weighted-average shares used to compute diluted net income (loss) per share 28,636 24,551
SiTime Corporation
Unaudited Reconciliation of Non-GAAP Adjustments
Three months ended September 30, 2026 June 30, 2026 September 30, 2025 (in thousands, except per share data)Reconciliation of GAAP gross profit and margin to non-GAAP Revenue$298,671 $157,432 $83,567 GAAP gross profit 154,118 99,142 44,717 GAAP gross margin 51.6% 63.0% 53.5%Amortization of acquired intangibles 53,239 5,744 3,573 Amortization of inventory step-up costs 3,020 — — Stock-based compensation 679 699 831 Non-GAAP gross profit$211,056 $105,585 $49,121 Non-GAAP gross margin 70.7% 67.1% 58.8% Reconciliation of GAAP operating expenses to non-GAAP GAAP research and development expenses$62,412 $36,117 $30,009 Stock-based compensation (13,788) (10,501) (11,485)Non-GAAP research and development expenses$48,624 $25,616 $18,524 GAAP selling, general and administrative expenses$62,085 $46,301 $30,603 Amortization of acquired intangibles (8,580) — — Stock-based compensation (20,554) (19,793) (15,441)Non-GAAP selling, general and administrative expenses$32,951 $26,508 $15,162 GAAP acquisition related costs$21,288 $8,509 $126 Acquisition related costs (21,288) (8,509) (126)Non-GAAP acquisition related costs$— $— $— Total Non-GAAP operating expenses$81,575 $52,124 $33,686 Reconciliation of GAAP income (loss) from operations to non-GAAP income from operations GAAP income (loss) from operations$8,333 $8,215 $(16,021)Acquisition related costs 21,288 8,509 126 Amortization of acquired intangibles 61,819 5,744 3,573 Amortization of inventory step-up costs 3,020 — — Stock-based compensation 35,021 30,993 27,757 Non-GAAP income from operations$129,481 $53,461 $15,435 Non-GAAP income from operations as a percentage of revenue 43.4% 34.0% 18.5% Reconciliation of GAAP net income (loss) to non-GAAP net income GAAP net income (loss)$4,353 $18,156 $(8,014)Acquisition related costs 21,288 8,509 126 Amortization of financing related transaction costs 4,776 2,247 — Amortization of acquired intangibles 61,819 5,744 3,573 Amortization of inventory step-up costs 3,020 — — Stock-based compensation 35,021 30,993 27,757 Non-GAAP net income$130,277 $65,649 $23,442 Weighted-average shares used to compute diluted net income per share (1) 32,468 28,061 26,938 GAAP net income (loss) per share diluted$0.14 $0.66 $(0.31)Non-GAAP adjustments detailed above 3.87 1.68 1.18 Non-GAAP net income per share diluted$4.01 $2.34 $0.87
(1) Non-GAAP diluted weighted average shares are calculated using the treasury stock method and differ from GAAP diluted weighted
average shares in certain periods due to non-GAAP net income reported.
SiTime Corporation
Unaudited Reconciliation of Non-GAAP Adjustments
Nine Months Ended September 30, 2026 September 30, 2025 (in thousands, except per share data)Reconciliation of GAAP gross profit and margin to non-GAAP Revenue$569,670 $213,375 GAAP gross profit 320,215 111,105 GAAP gross margin 56.2% 52.1%Amortization of acquired intangibles 64,728 10,718 Amortization of inventory step-up costs 3,020 — Stock-based compensation 1,968 2,357 Non-GAAP gross profit$389,931 $124,180 Non-GAAP gross margin 68.4% 58.2% Reconciliation of GAAP operating expenses to non-GAAP GAAP research and development expenses$131,266 $90,598 Stock-based compensation (35,516) (33,210)Non-GAAP research and development expenses$95,750 $57,388 GAAP selling, general and administrative expenses$147,322 $85,689 Amortization of acquired intangibles (8,580) — Stock-based compensation (59,329) (43,561)Non-GAAP selling, general and administrative expenses$79,413 $42,128 GAAP acquisition related costs$37,417 $3,560 Acquisition related costs (37,417) (3,560)Non-GAAP acquisition related costs$— $— Total Non-GAAP operating expenses$175,163 $99,516 Reconciliation of GAAP income (loss) from operations to non-GAAP income from operationsGAAP income (loss) from operations$4,210 $(68,742)Amortization of acquired intangibles 73,308 10,718 Acquisition related costs 37,417 3,560 Amortization of inventory step-up costs 3,020 — Stock-based compensation 96,813 79,128 Non-GAAP income from operations$214,768 $24,664 Non-GAAP income from operations as a percentage of revenue 37.7% 11.6% Reconciliation of GAAP net income (loss) to non-GAAP net income GAAP net income (loss)$17,292 $(52,070)Amortization of acquired intangibles 73,308 10,718 Acquisition related costs 37,417 3,560 Amortization of financing related transaction costs 7,023 — Amortization of inventory step-up costs 3,020 — Stock-based compensation 96,813 79,128 Non-GAAP net income$234,873 $41,336 Weighted-average shares used to compute diluted net income per share (1) 29,264 25,390 GAAP net income (loss) per share diluted$0.60 $(2.12)Non-GAAP adjustments detailed above 7.43 3.75 Non-GAAP net income per share diluted
$8.03 $1.63
(1) Non-GAAP diluted weighted average shares are calculated using the treasury stock method and differ from GAAP diluted weighted
average shares in certain periods due to non-GAAP net income reported.
SiTime Corporation
Unaudited GAAP Condensed Consolidated Balance Sheets
As of September 30, 2026 December 31, 2025 (in thousands)Assets: Current assets: Cash and cash equivalents$324,350 $16,759 Short-term investments in held-to-maturity securities — 791,648 Accounts receivable, net 202,880 45,040 Inventories 111,356 81,557 Prepaid expenses and other current assets 19,222 14,275 Total current assets 657,808 949,279 Property and equipment, net 124,533 105,114 Intangible assets, net 2,156,770 147,366 Right-of-use assets, net 14,241 4,089 Goodwill 1,999,072 87,098 Other assets 28,094 1,753 Total assets$4,980,518 $1,294,699 Liabilities and Stockholders’ Equity: Current liabilities: Accounts payable$34,066 $21,327 Accrued expenses and other current liabilities 84,323 62,678 Total current liabilities 118,389 84,005 Convertible senior notes, net 1,319,137 — Other non-current liabilities 49,676 54,512 Total liabilities 1,487,202 138,517 Commitments and contingencies Stockholders’ equity: Common stock 3 3 Additional paid-in capital 3,700,925 1,381,083 Accumulated deficit (207,612) (224,904)Total stockholders’ equity 3,493,316 1,156,182 Total liabilities and stockholders’ equity$4,980,518 $1,294,699
Investor Relations Contacts:
Shelton Group
Leanne Sievers | Brett Perry
sitm-ir@sheltongroup.com
SiTime Corporation
Beth Howe
Chief Financial Officer
investor.relations@sitime.com
Source: GlobeNewswire