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Jun 30, 2024
SiTime Q2 2024 Earnings Report
Announced financial results for the second quarter ended June 30, 2024.
Key Takeaways
SiTime Corporation reported a net revenue of $43.9 million for Q2 2024, which is a 33% increase from the previous quarter and a 58% increase from the year-ago period. The company's GAAP net loss was $26.8 million, or $1.16 per diluted share, while non-GAAP net income was $2.8 million, or $0.12 per diluted share.
Q2 results exceeded the company's outlook.
Demand grew across all market segments, with communications, enterprise, and datacenters (CED) being the highest growth segment.
Investments over the past five years have resulted in a diversified product portfolio that meets the industry’s precision timing needs.
Strong customer relationships position the company well to capitalize on the rising demand for AI.
Forward Guidance
SiTime did not provide specific forward guidance in the provided earnings report. Therefore, I cannot provide a summary of the forward guidance.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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