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SiTime Corporation
Unaudited Reconciliation of Non-GAAP Adjustments | |||||||
| Three Months Ended | |||||||
| March 31, 2024 | December 31, 2023 | ||||||
| (in thousands, except per share data) | |||||||
| Reconciliation of GAAP gross profit and margin to non-GAAP | |||||||
| Revenue | $ | 33,022 | $ | 42,403 | |||
| GAAP gross profit | 17,661 | 23,693 | |||||
| GAAP gross margin | 53.5 | % | 55.9 | % | |||
| Amortization of acquired intangibles | 1,284 | 280 | |||||
| Stock-based compensation | 179 | 740 | |||||
| Non-GAAP gross profit | $ | 19,124 | $ | 24,713 | |||
| Non-GAAP gross margin | 57.9 | % | 58.3 | % | |||
| Reconciliation of GAAP operating expenses to non-GAAP | |||||||
| GAAP research and development expenses | $ | 25,544 | $ | 22,919 | |||
| Stock-based compensation | (9,177 | ) | (7,039 | ) | |||
| Non-GAAP research and development expenses | $ | 16,367 | $ | 15,880 | |||
| GAAP sales, general and administrative expenses | $ | 23,913 | $ | 20,514 | |||
| Stock-based compensation | (12,347 | ) | (9,750 | ) | |||
| Acquisition related integration costs | (550 | ) | — | ||||
| Non-GAAP sales, general and administrative expenses | $ | 11,016 | $ | 10,764 | |||
| GAAP acquisition related costs | $ | 3,242 | $ | 7,728 | |||
| Acquisition related costs | (3,242 | ) | (7,728 | ) | |||
| Non-GAAP acquisition related costs | $ | — | $ | — | |||
| Total Non-GAAP operating expenses | $ | 27,383 | $ | 26,644 | |||
| Reconciliation of GAAP loss from operations to non-GAAP loss from operations | |||||||
| GAAP loss from operations | $ | (35,038 | ) | $ | (27,468 | ) | |
| Acquisition related costs | 3,224 | 7,728 | |||||
| Acquisition related integration costs | 550 | — | |||||
| Amortization of acquired intangibles | 1,284 | 280 | |||||
| Stock-based compensation | 21,703 | 17,529 | |||||
| Non-GAAP loss from operations | $ | (8,259 | ) | $ | (1,931 | ) | |
| Non-GAAP loss from operations as a percentage of revenue | (25.0 | %) | (4.6 | %) | |||
| Reconciliation of GAAP net loss to non-GAAP net income (loss) | |||||||
| GAAP net loss | $ | (28,704 | ) | $ | (19,997 | ) | |
| Acquisition related costs | 3,224 | 7,728 | |||||
| Acquisition related integration costs | 550 | — | |||||
| Amortization of acquired intangibles | 1,284 | 280 | |||||
| Stock-based compensation | 21,703 | 17,529 | |||||
| Non-GAAP net income (loss) | $ | (1,925 | ) | $ | 5,540 | ||
| Weighted-average shares used to compute diluted net income (loss) per share | 22,765 | 23,080 | |||||
| GAAP net loss per share diluted | $ | (1.26 | ) | $ | (0.89 | ) | |
| Non-GAAP adjustments detailed above | 1.18 | 1.13 | |||||
| Non-GAAP net income (loss) per share diluted
| $ | (0.08 | ) | $ | 0.24 | ||
