SiTime Corporation Reports 83% Revenue Growth to $60.3 Million in Latest Quarter

SiTime Corporation reported significant financial growth in its latest quarterly results, with revenue reaching $60.3 million for the three months ended March 31, 2025, compared to $33.0 million in the same period last year, marking an increase of 83%. The company's gross profit also rose to $30.3 million, up from $17.7 million, although the gross margin slightly decreased to 50% from 53% due to higher costs associated with product mix and amortization of acquired intangibles. Despite the revenue growth, SiTime recorded a net loss of $23.9 million, an improvement from a loss of $28.7 million in the prior year, resulting in a net loss per share of $1.01, compared to $1.26 a year earlier.

The company experienced notable operational changes, including an increase in research and development expenses, which rose by 18% to $30.0 million, reflecting ongoing investments in new product development. Selling, general, and administrative expenses also increased by 12% to $26.9 million, driven by higher personnel costs and stock-based compensation. SiTime's total operating expenses for the quarter were $58.4 million, up from $52.7 million in the previous year. The company continues to rely heavily on a limited number of customers, with its top three customers accounting for approximately 64% of total revenue, highlighting the need for diversification in its customer base.

SiTime's strategic developments included the acquisition of clocking products from Aura Semiconductor, which is expected to enhance its product portfolio and market presence in the timing solutions sector. This acquisition aligns with SiTime's goal to provide a comprehensive range of timing solutions, including oscillators, clocks, and resonators. The company operates a fabless business model, outsourcing manufacturing to third-party suppliers, which allows for flexibility in production but also exposes it to risks related to supply chain disruptions and manufacturing quality.

As of March 31, 2025, SiTime reported total assets of $872.1 million, with cash and cash equivalents significantly increasing to $38.8 million from $6.1 million at the end of the previous fiscal year. The company also held $360.1 million in short-term investments. Looking ahead, SiTime anticipates continued revenue fluctuations due to macroeconomic conditions and the cyclical nature of the semiconductor industry. The company remains focused on expanding its market share and product offerings while navigating the challenges posed by global economic uncertainties and customer demand variability.