SiTime Reports Third Quarter 2024 Financial Results

SiTime Corporation
Unaudited Reconciliation of Non-GAAP Adjustments
 
  Three Months Ended
  September 30, 2024  June 30, 2024
  (in thousands, except per share data)
Reconciliation of GAAP gross profit and margin to non-GAAP   
Revenue$57,698  $43,866 
GAAP gross profit 29,467   21,523 
GAAP gross margin 51.1%  49.1%
Amortization of acquired intangibles 3,573   3,463 
Stock-based compensation 495   327 
Non-GAAP gross profit$33,535  $25,313 
Non-GAAP gross margin 58.1%  57.7%
    
Reconciliation of GAAP operating expenses to non-GAAP   
GAAP research and development expenses$26,489  $25,490 
Stock-based compensation (9,392 )     (9,414 )
Non-GAAP research and development expenses $ 17,097     $ 16,076  
       
GAAP sales, general and administrative expenses $ 25,359     $ 25,190  
Stock-based compensation   (12,925 )     (13,176 )
Non-GAAP sales, general and administrative expenses $ 12,434     $ 12,014  
       
GAAP acquisition related costs $ 2,482     $ 3,163  
Acquisition related costs   (2,482 )     (3,163 )
Non-GAAP acquisition related costs $     $  
Total Non-GAAP operating expenses $ 29,531     $ 28,090  
       
Reconciliation of GAAP loss from operations to non-GAAP loss from operations      
GAAP loss from operations $ (24,863 )   $ (32,320 )
Acquisition related costs   2,482       3,163  
Amortization of acquired intangibles   3,573       3,463  
Stock-based compensation   22,812       22,917  
Non-GAAP income (loss) from operations $ 4,004     $ (2,777 )
Non-GAAP income (loss) from operations as a percentage of revenue   6.9 %     (6.3 %)
       
Reconciliation of GAAP net loss to non-GAAP net income (loss)      
GAAP net loss $ (19,315 )   $ (26,769 )
Acquisition related costs   2,482       3,163  
Amortization of acquired intangibles   3,573       3,463  
Stock-based compensation   22,812       22,917  
Non-GAAP net income $ 9,552     $ 2,774  
Weighted-average shares used to compute diluted net income (loss) per share   24,059       22,997  
       
GAAP net loss per share diluted $ (0.83 )   $ (1.16 )
Non-GAAP adjustments detailed above   1.23       1.28  
Non-GAAP net income per share diluted $ 0.40     $ 0.12  
               



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