From GlobeNewswire: 2025-02-05 16:11:00

SiTime Corporation announced fourth-quarter 2024 net revenue of $68.1 million, up 18% from the previous quarter and 61% from the previous year. Fiscal year 2024 net revenue was $202.7 million, a 41% increase from the previous fiscal year. The company reported growth across all customer segments, with significant gains in Communications, Enterprise, and Datacenter businesses. In the fourth quarter, GAAP gross profit was $35.8 million, with a non-GAAP net income of $11.8 million. For the fiscal year, GAAP gross profit was $104.5 million, with a non-GAAP net income of $22.2 million. Total cash and investments were $418.8 million on December 31, 2024. SiTime granted restricted stock unit awards to 17 newly hired non-executive individuals as inducement grants. The company will broadcast its financial results for the fourth quarter of 2024 through a conference call on February 5, 2025, at 2:00 p.m. Pacific Time. SiTime Corporation is a Precision Timing company, offering semiconductor MEMS programmable solutions. The company believes that the presentation of non-GAAP financial measures provides important supplemental information to management and investors regarding financial and business trends.



Read more at GlobeNewswire:: SiTime Reports Fourth Quarter and Fiscal Year 2024