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Sep 30, 2020
SiTime Q3 2020 Earnings Report
SiTime's third quarter results were announced, showcasing revenue growth and profitability improvements.
Key Takeaways
SiTime Corporation reported a strong third quarter with a 29.0% increase in revenue compared to the same period last year and a 52.1% increase compared to the previous quarter. The company achieved non-GAAP profitability, with non-GAAP net income of $4.4 million or $0.23 per diluted share.
Net revenue reached $32.7 million, up 29.0% year-over-year.
GAAP loss from operations was $0.6 million, or 1.7% of revenue.
Non-GAAP net income was $4.4 million, or $0.23 per diluted share.
Cash and cash equivalents totaled $69.2 million at the end of the quarter.