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Dec 31, 2024
SiTime Q4 2024 Earnings Report
SiTime reported its financial results for the fourth quarter and fiscal year ended December 31, 2024, showing significant revenue growth and improved non-GAAP profitability.
Key Takeaways
SiTime Corporation announced strong financial results for Q4 2024, with revenue increasing by 61% year-over-year to $68.1 million. The company achieved a non-GAAP net income of $11.8 million, or $0.48 per diluted share, demonstrating improved operational efficiency.
Q4 2024 net revenue reached $68.1 million, an 18% increase from the prior quarter and a 61% increase year-over-year.
GAAP gross profit for Q4 2024 was $35.8 million, representing 52.6% of revenue.
Non-GAAP net income for Q4 2024 was $11.8 million, or $0.48 per diluted share.
Total cash, cash equivalents, and short-term investments stood at $418.8 million as of December 31, 2024.
SiTime
SiTime
Forward Guidance
The report does not contain specific forward-looking financial guidance for future quarters or the next fiscal year. However, the CEO's statement indicates strong momentum entering 2025.
Positive Outlook
- Strong momentum entering 2025.
- Market diversification highlighted as a key strength.
- Over 30% growth across all customer segments.
- Significant gains in Communications, Enterprise, and Datacenter businesses.
- Critical role of precision timing in AI driving business gains.
Challenges Ahead
- No specific quantitative forward-looking financial guidance provided.
- Reliance on general statements about future performance.
- Potential for actual results to differ materially from expectations due to various risks.
- No explicit mention of challenges or headwinds for the upcoming period.
- The report emphasizes that financial information reflects estimates and could differ from final reported amounts.