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Jun 30, 2022
SiTime Q2 2022 Earnings Report
Reported a significant increase in revenue compared to the previous year and quarter, with strong gross margins and profitability.
Key Takeaways
SiTime Corporation announced financial results for Q2 2022, with revenue reaching $79.4 million, a 78.5% increase year-over-year and a 13.0% increase sequentially. The company reported GAAP net income of $12.9 million, or $0.57 per diluted share, and non-GAAP net income of $25.3 million, or $1.11 per diluted share. Total cash and cash equivalents were $580.3 million as of June 30, 2022.
Net revenue increased by 78.5% year-over-year to $79.4 million.
GAAP gross margins were 66.3% of revenue.
GAAP net income was $12.9 million, or $0.57 per diluted share.
Non-GAAP net income was $25.3 million, or $1.11 per diluted share.
SiTime
SiTime
Forward Guidance
No forward guidance was provided in the press release.