SiTime Third-Quarter Revenue Jumps 257% To $298.7 Million, And A 3-For-1 Stock Split Is Coming
The timing-chip maker's standard-accounting profit was $4.4 million, against $4.01 a share on an adjusted basis.
SiTime, which designs silicon timing chips that keep electronic systems in sync, reported third-quarter revenue of $298.7 million, up 257% from $83.6 million a year earlier, and announced a three-for-one forward stock split. Revenue also reflects the newly added TPD business, which CEO Rajesh Vashist said has been integrated "exceptionally well."
Growth outruns the bottom line
Core CED revenue grew 202% from a year earlier, Vashist said, as the AI infrastructure buildout kept driving demand for differentiated timing. He said the company exited the quarter with an annualized revenue run rate above $1 billion.
Under standard accounting, net income was $4.4 million, or $0.14 per diluted share, with gross margin of 51.6%. Acquisition-related costs of $21.3 million and $53.2 million of amortization of acquired intangibles in cost of revenue weighed on those results.
On an adjusted basis, profit was $130.3 million, or $4.01 per diluted share, and gross margin was 70.7%. For the first nine months, revenue was $569.7 million, and adjusted profit was $8.03 per share.
What SiTime sells
SiTime makes oscillators, clock chips, resonators and synchronization software on silicon MEMS technology rather than quartz. According to its annual report, the products are designed into more than 400 applications, from AI systems and datacenters to automotive and aerospace. Distributors account for most sales.
The split and the balance sheet
Each holder of record at the close on Thursday, December 3, will receive two additional shares for every share owned, distributed after the close on Friday, December 4. Split-adjusted trading is expected to start at the open on Monday, December 7. The company said the split is meant to make stock ownership more accessible to employees and investors.
Cash and short-term investments totaled $324.3 million on September 30, and convertible senior notes stood at $1.32 billion.
SiTime also granted 47,976 restricted stock units to 71 new hires. Management plans to discuss its business outlook on a conference call at 5:00 p.m. Eastern on Wednesday.
The split-adjusted shares are expected to begin trading on Monday, December 7.
Sources
- 8-K Filing — SITIME Corp (SITM) — SEC EDGAR
- Exhibit sitm-q326x8kxexx991.htm — SITIME Corp 8-K exhibit — SEC EDGAR
- SiTime: Q3 Earnings Snapshot — Associated Press
- SiTime Reports Third Quarter 2026 Financial Results — globenewswire.com
