10-Q · May 6, 2026
SiTime Corporation reported Q1 2026 earnings with a notable revenue increase of 88% year-over-year to $113.6 million, exceeding expectations. Despite this revenue growth, the company reported a diluted EPS of $1.44,…
SITM earnings analysis
10-Q · Filed November 5, 2026 · Our reading of the company's report
The latest report
SiTime reported a very strong third quarter, with revenue of $298.7 million up 257% year over year and diluted EPS of $4.01, beating consensus by 3.3% and 20.8%, respectively. Non-GAAP operating margin was 43.4%, while…
Read full summary
SiTime reported a very strong third quarter, with revenue of $298.7 million up 257% year over year and diluted EPS of $4.01, beating consensus by 3.3% and 20.8%, respectively. Non-GAAP operating margin was 43.4%, while cash and cash equivalents rose to $324.3 million from $16.8 million at year-end 2025. The principal offsetting concerns are the $1.35 billion convertible-note issuance, execution risk from the July 1, 2026 Renesas acquisition, and continued customer concentration. No numeric forward revenue or EPS guidance was provided.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $4.01
What stood out
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Revenue accelerated sharply
Third-quarter revenue was $298.7 million, up 90.2% from $157 million in Q2 2026 and 257% from $83.6 million in Q3 2025. Revenue exceeded the $289.2 million consensus estimate by 3.3%.
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EPS strongly beat consensus
Reported diluted EPS was $4.01 versus $0.66 in Q2 2026 and $(0.31) in Q3 2025. EPS exceeded the $3.32 consensus estimate by 20.8%.
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Strong non-GAAP profitability
Non-GAAP operating margin was 43.4%, according to the related earnings disclosure, demonstrating substantial operating leverage as revenue increased to $298.7 million.
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Liquidity increased materially
Cash and cash equivalents increased to $324.3 million at September 30, 2026 from $16.8 million at December 31, 2025. The company also generated $21.3 million of interest income during the first nine months of 2026.
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Renesas acquisition adds growth potential
The Renesas Timing business acquisition closed on July 1, 2026. Management expects the acquisition to be accretive to net economic earnings per share beginning in fiscal 2026, although the filing characterizes this as based on preliminary estimates.
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No reported control deficiencies
The company maintained effective disclosure controls as of September 30, 2026, and reported no changes in internal control over financial reporting that materially affected, or were reasonably likely to materially affect, controls during the quarter.
What to watch
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New convertible debt increases leverage
SiTime issued $1.35 billion of 0% Convertible Senior Notes due 2031 in May 2026 and entered into a $200 million revolving credit facility on June 30, 2026; no amounts were outstanding under the revolver at September 30, 2026. The new debt could constrain flexibility and create future dilution or refinancing risk.
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Renesas integration execution risk
The Renesas acquisition may require additional integration costs and relies on Renesas for certain products and services under a transition services agreement. The filing states that the acquisition’s expected EPS accretion is based on preliminary estimates that may materially change.
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Customer concentration remains material
Customer concentration remains significant: the top three distributors represented 53% of Q3 2026 revenue, while the ten largest end customers represented 56%. Apple has no minimum or binding purchase obligation and could discontinue purchases with little or no notice.
Management's outlook
The filing does not provide numeric forward revenue or EPS guidance. Management’s outlook was deferred to the earnings conference call, and no quantitative outlook is included in the provided 10-Q text.
Earlier filings 4
10-Q · May 9, 2024
SiTime reported revenue of $33.022M for the quarter ended March 31, 2024, down from $38.343M a year earlier, with gross profit of $17.661M and a net loss of $28.704M (EPS $(1.26)). Operating loss widened to $35.038M…
10-Q · November 4, 2022
SiTime reported Q3 revenue of $73,095,000, up $10,066,000 (≈16.0%) from $63,029,000 a year ago, while quarter-level profitability compressed as operating income fell to $3,532,000 from $14,074,000 and diluted EPS…
10-Q · August 4, 2022
SiTime reported strong Q2 results with revenue of $79,418,000 (up from $44,496,000 a year ago) and significant margin expansion (gross margin ~66.4%), producing net income of $12,859,000 and diluted EPS of $0.57.…
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