SiTime Q1 revenue $33.0M, down 22% QoQ; GAAP EPS -$1.26, non-GAAP -$0.08

SITIME Corp

2024-Q1 EPS reported -$1.26 revenue$33,022,000

Net revenue $33.0M, down 22% from $42.4M in prior quarter.
GAAP net loss $28.7M ($1.26/diluted share); non-GAAP net loss $1.9M ($0.08/diluted).
GAAP gross margin 53.5% of revenue; non-GAAP gross margin 57.9%.
Cash, cash equivalents & short-term investments totaled $517.3M as of March 31, 2024.
CEO expects sustained growth in Q2, citing expansion in datacenter and AI markets.

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 the first quarter ended March 31, 2024 results: revenue $33.0 million, net income GAAP net loss was $28.7 million, EPS $1.26 per diluted share.

Period: the first quarter ended March 31, 2024
Revenue: $33.0 million
Net income: GAAP net loss was $28.7 million
EPS: $1.26 per diluted 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, 2024. Net revenue in the first quarter of 2024 was $33.0 million, a 22% decrease from $42.4 million in the prior quarter.

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Source: SEC EDGAR

accession 0001451809-24-000108

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