SiTime Corporation Reports 58% Revenue Growth to $69.5 Million in Latest Quarter

SiTime Corporation reported significant financial growth in its latest quarterly filing, with revenue reaching $69.5 million for the three months ended June 30, 2025, a 58% increase from $43.9 million in the same period last year. For the first half of 2025, revenue totaled $129.8 million, marking a 69% rise compared to $76.9 million in the first half of 2024. The increase in revenue was attributed to higher sales volumes and an improved product mix, which also contributed to a gross profit of $36.1 million for the quarter, up from $21.5 million a year earlier. The gross margin improved to 52% from 49% year-over-year, reflecting better absorption of manufacturing overheads.

Despite the revenue growth, SiTime reported a net loss of $20.2 million for the second quarter, an improvement from a loss of $26.8 million in the same quarter of 2024. The loss per share decreased to $0.84 from $1.16 year-over-year. Operating expenses rose to $60.7 million, up 13% from $53.8 million in the prior year, driven primarily by increased research and development costs, which rose by 20% to $30.6 million, and selling, general, and administrative expenses, which increased by 12% to $28.2 million.

In terms of strategic developments, SiTime completed a follow-on public offering on June 27, 2025, raising approximately $387.3 million in net proceeds. This capital will support ongoing operations and potential acquisitions. The company also sold 150,000 shares under an At-The-Market offering, generating an additional $29.7 million. The total cash and cash equivalents as of June 30, 2025, stood at $172.5 million, a significant increase from $6.1 million at the end of 2024, bolstered by these financing activities.

Operationally, SiTime's customer base remains concentrated, with its top three customers accounting for approximately 66% of revenue in the latest quarter. The company continues to focus on expanding its Precision Timing solutions across various markets, including communications, automotive, and industrial sectors. The acquisition of clocking products from Aura Semiconductor in December 2023 has enhanced its product portfolio, allowing SiTime to offer a more comprehensive range of timing solutions.

Looking ahead, SiTime anticipates continued growth driven by increasing demand for its Precision Timing solutions, particularly in AI infrastructure and 5G applications. However, the company acknowledges potential risks, including reliance on a limited number of customers and the cyclical nature of the semiconductor industry. Management remains focused on expanding its market presence and product offerings while navigating these challenges.