$SITM · SITIME Corp
SiTime filed its 10-Q for the quarter ended September 30, 2026. Revenue rose 257.4% YoY to $298.7M, gross margin reached 51.6%, and the company swung to net income of $4.4M ($0.14 diluted EPS) versus a $8.0M loss a year earlier. The quarter reflects a major acquisition (goodwill of $2.0B and intangible assets of $2.16B on the balance sheet) and a $1.35B 0% convertible notes issuance in May 2026.
- Revenue of $298.7M, up 257.4% YoY from $83.6M.
- Net income of $4.4M ($0.14 diluted EPS) vs a $8.0M loss a year ago.
- Gross margin of 51.6%, up 7.3 points on revenue leverage and product mix.
- Acquisition added $2.0B goodwill and $2.16B intangible assets.
- Issued $1.35B of 0% convertible notes due 2031, net proceeds $1.32B.
Shares closed down 9.35% at $403.27 in the regular session, but extended-hours trading showed a +3.66% rebound to $418.01, suggesting the market read the results favorably after the initial drop.
A 257% revenue surge and return to profitability mark a step-change in scale from a major acquisition, though it comes with $1.35B in new debt.
The 257% revenue jump is driven by a transformative acquisition rather than organic growth, positioning SiTime as a consolidator in precision timing semiconductors.
The filing flags customer concentration, no long-term purchase commitments, and leverage from the $1.35B convertible notes plus capped call counterparty risk as key concerns.