SiTime Q1 revenue $38.3M, down 37% QoQ; GAAP net loss $16.5M

SITIME Corp

2023-Q1 EPS reported -$0.76 revenue$38,343,000

Revenue $38.3M, down 37% from Q4 2022 ($60.8M).
GAAP net loss $16.5M ($0.76 loss per basic share).
Non-GAAP net income $2.0M ($0.09 per diluted share).
Cash and short-term investments total $576.1M.
GAAP operating loss $22.1M on operating expenses $45.2M.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

SITIME Corp reported first quarter ended March 31, 2023 results: revenue $38.3 million, net income GAAP net loss was $16.5 million, or $(0.76) per basic share, EPS $(0.76) per basic share.

Period: first quarter ended March 31, 2023
Revenue: $38.3 million
Net income: GAAP net loss was $16.5 million, or $(0.76) per basic share
EPS: $(0.76) per basic share
Result: reported results

Exact text from the filing

SiTime Corporation, (Nasdaq: SITM), the precision timing company, today announced financial results for the first quarter ended March 31, 2023. Net revenue in the first quarter of 2023 was $38.3 million, a 37.0% decrease from the $60.8 million in the fourth quarter of 2022. Generally Accepted Accounting Principles (GAAP) Results In the first quarter of 2023, GAAP gross margins were $23.0 million, or 60.1% of revenue, GAAP operating expenses were $45.2 million, GAAP loss from operations was $22.1 million, and GAAP net loss was $16.5 million, or $(0.76) per basic share.

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Source: SEC EDGAR

accession 0000950170-23-017174

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