SiTime (SITM) Q1 2026 earnings summary

Executive summary

• Q1 2026 revenue rose 88% year-over-year to $113.6M, driven by strong demand in AI, datacenter, and high-performance systems.

• Non-GAAP net income reached $38.9M ($1.44 per diluted share), while GAAP net loss narrowed to $5.2M.

• Precision timing now addresses a $4B SAM in an $11B TAM, with leadership in AI, autonomy, mobility, and high-speed communications.

• Announced $1.5B acquisition of Renesas' timing business, with up to $900M in bridge financing and integration planning underway.

• Continued investment in people, systems, and technology to support rapid growth and productivity.

Financial highlights

• Q1 2026 revenue was $113.6M, up from $60.3M year-over-year; GAAP gross profit was $67.0M (59.0% margin), non-GAAP gross profit was $73.3M (64.5% margin).

• Non-GAAP operating income was $31.8M (28% margin); GAAP loss from operations was $12.3M.

• Non-GAAP net income was $38.1M; GAAP net loss was $5.2M; EPS increased five-fold to $1.44 (non-GAAP).

• Cash, cash equivalents, and short-term investments totaled $788.7M at quarter end.

• Cash flow from operations more than doubled to $31.2M.

Outlook and guidance

• Full-year revenue growth expectations raised to at least 80%, well above prior guidance and long-term targets.

• Q2 2026 revenue expected between $140M-$150M, up over 100% year-over-year; gross margin projected at ~65% ±1 point.

• Q2 operating expenses expected at $46M-$47M; non-GAAP EPS guidance of $1.85-$2.00.

• Management expects continued investment in R&D and SG&A, with incremental costs from the Renesas acquisition.

• Gross margins may moderate in the second half as consumer mix increases but expected to remain above 60%.