third quarter 2026
Filed Nov 4, 2026Q3 Net Revenue Increased 257% to $298.7 Million
Third-quarter revenue rose 257% year over year to $298.7 million, GAAP profitability turned positive, and non-GAAP operating income reached $129.5 million. The reported period also included substantial acquisition-related costs, acquired-intangible amortization and inventory step-up amortization that reduced GAAP margins and earnings.
Key metrics
shortened, hover for the filing’s print| Metric | Value | q/q | y/y |
|---|---|---|---|
| Revenue, three months ended September 30, 2026GAAP | $298.7M | – | 257% |
| Cost of revenue, three months ended September 30, 2026GAAP | 144,553 | – | – |
| Gross profit, three months ended September 30, 2026GAAP | 154,118 | – | – |
| Gross margin, three months ended September 30, 2026GAAP | 51.6 % | – | – |
| Research and development expenses, three months ended September 30, 2026GAAP | 62,412 | – | – |
| Selling, general and administrative expenses, three months ended September 30, 2026GAAP | 62,085 | – | – |
| Acquisition related costs, three months ended September 30, 2026GAAP | 21,288 | – | – |
| Total operating expenses, three months ended September 30, 2026GAAP | 145,785 | – | – |
| Income from operations, three months ended September 30, 2026GAAP | 8,333 | – | – |
| Interest income, three months ended September 30, 2026GAAP | 1,487 | – | – |
| Interest expense, three months ended September 30, 2026GAAP | (5,094) | – | – |
| Income before income taxes, three months ended September 30, 2026GAAP | 4,527 | – | – |
| Income tax expense, three months ended September 30, 2026GAAP | (174) | – | – |
| Net income, three months ended September 30, 2026GAAP | $4.35M | – | – |
| Net income per share attributable to common stockholders, basic, three months ended September 30, 2026GAAP | $ 0.14 | – | – |
| Net income per share attributable to common stockholders, diluted, three months ended September 30, 2026GAAP | $ 0.14 | – | – |
| Weighted-average shares used to compute diluted net income per share, three months ended September 30, 2026GAAP | 31,170 | – | – |
| Non-GAAP gross profit, three months ended September 30, 2026non-GAAP | $211.1M | – | – |
| Non-GAAP gross margin, three months ended September 30, 2026non-GAAP | 70.7 % | – | – |
| Total non-GAAP operating expenses, three months ended September 30, 2026non-GAAP | $81.58M | – | – |
| Non-GAAP income from operations, three months ended September 30, 2026non-GAAP | $129.5M | – | – |
| Non-GAAP income from operations as a percentage of revenue, three months ended September 30, 2026non-GAAP | 43.4 % | – | – |
| Non-GAAP net income, three months ended September 30, 2026non-GAAP | $130.3M | – | – |
| Non-GAAP net income per share diluted, three months ended September 30, 2026non-GAAP | $ 4.01 | – | – |
| Revenue, nine months ended September 30, 2026GAAP | $569.7M | – | – |
| Gross profit, nine months ended September 30, 2026GAAP | 320,215 | – | – |
| Gross margin, nine months ended September 30, 2026GAAP | 56.2 % | – | – |
| Total operating expenses, nine months ended September 30, 2026GAAP | 316,005 | – | – |
| Income (loss) from operations, nine months ended September 30, 2026GAAP | 4,210 | – | – |
| Net income (loss), nine months ended September 30, 2026GAAP | $17.29M | – | – |
| Net income (loss) per share attributable to common stockholders, diluted, nine months ended September 30, 2026GAAP | $ 0.60 | – | – |
| Non-GAAP gross profit, nine months ended September 30, 2026non-GAAP | $389.9M | – | – |
| Non-GAAP gross margin, nine months ended September 30, 2026non-GAAP | 68.4 % | – | – |
| Non-GAAP income from operations, nine months ended September 30, 2026non-GAAP | $214.8M | – | – |
| Non-GAAP net income, nine months ended September 30, 2026non-GAAP | $234.9M | – | – |
| Non-GAAP net income per share diluted, nine months ended September 30, 2026non-GAAP | $ 8.03 | – | – |
Amounts quoted below without a unit are in thousands, as in the filing’s tables. Per-share figures are as printed.
Capital returns
- SiTime announced a three-for-one forward stock split of its issued common stock.
- Each record holder of common stock as of the close of market on Thursday, December 3, 2026, will receive two additional shares for each one share owned, to be distributed after the close of market on Friday, December 4, 2026.
- Trading is expected to commence on a split-adjusted basis at market open on Monday, December 7, 2026.
What drove it
- Management said growth was broad-based and demonstrated strength beyond any single market.
- Management said core CED revenue grew 202% year over year as the AI infrastructure buildout continued to drive demand for differentiated timing.
- Management said TPD integration has gone exceptionally well across teams, customers and roadmap.
- Non-GAAP results exclude stock-based compensation expense, amortization of acquired intangibles, amortization of inventory step-up costs, amortization of financing related transaction costs, and acquisition-related expenses.
Concerns
- GAAP gross margin was 51.6 %, compared with 63.0 % in the prior quarter.
- GAAP operating income was 8,333 while non-GAAP income from operations was $ 129,481, reflecting substantial excluded costs.
- Acquisition related costs were 21,288, amortization of acquired intangibles was 61,819, amortization of inventory step-up costs was 3,020, and stock-based compensation was 35,021 in the reconciliation from GAAP operating income to non-GAAP operating income.
- Interest expense was (5,094), compared with (2,247) in the prior quarter and — in the year-ago quarter.
- Convertible senior notes, net, were 1,319,137 as of September 30, 2026.
What to watch
- Management’s business outlook, which it plans to discuss as part of the scheduled conference call, was not included in the filing text.
- Whether GAAP gross margin recovers following amortization of inventory step-up costs and acquired-intangible amortization.
- The progression of TPD integration and management’s stated AI infrastructure demand opportunity.
- The relationship between strong non-GAAP earnings and GAAP profitability as acquisition-related costs, financing-related transaction costs, amortization and stock-based compensation continue.
Balance sheet and cash flow
- Cash and cash equivalents were $ 324,350 as of September 30, 2026, compared with $ 16,759 as of December 31, 2025.
- Short-term investments in held-to-maturity securities were — as of September 30, 2026, compared with $ 791,648 as of December 31, 2025.
- Accounts receivable, net, were 202,880 as of September 30, 2026, compared with 45,040 as of December 31, 2025.
- Inventories were 111,356 as of September 30, 2026, compared with 81,557 as of December 31, 2025.
- Intangible assets, net, were 2,156,770 as of September 30, 2026, compared with 147,366 as of December 31, 2025.
- Goodwill was 1,999,072 as of September 30, 2026, compared with 87,098 as of December 31, 2025.
- Convertible senior notes, net, were 1,319,137 as of September 30, 2026, compared with — as of December 31, 2025.
- Total assets were $ 4,980,518 as of September 30, 2026, compared with $ 1,294,699 as of December 31, 2025.
- Total stockholders’ equity was 3,493,316 as of September 30, 2026, compared with 1,156,182 as of December 31, 2025.
Analysis
SiTime reported third-quarter revenue of $298.7 million, up 257% from the year-ago quarter and above the $157,432 reported in the prior quarter. Management characterized growth as broad-based and said core CED revenue grew 202% year over year, supported by AI infrastructure demand. The company also said it exited the quarter with an annualized revenue run rate above $1 billion.
The company returned to GAAP profitability, reporting gross profit of $154,118, operating income of $8,333 and net income of $4,353, or $0.14 per diluted share. GAAP gross margin was 51.6 %, below 63.0 % in the prior quarter and 53.5 % in the year-ago quarter. The reported margin included $53,239 of acquired-intangible amortization, $3,020 of inventory step-up amortization and $679 of stock-based compensation in the gross-profit reconciliation.
Non-GAAP profitability was materially higher. Non-GAAP gross margin was 70.7 %, non-GAAP operating income was $129,481, representing 43.4 % of revenue, and non-GAAP diluted earnings per share were $4.01. The gap between GAAP and non-GAAP results reflected $21,288 of acquisition-related costs, $61,819 of acquired-intangible amortization, $3,020 of inventory step-up amortization, $35,021 of stock-based compensation and $4,776 of amortization of financing related transaction costs in the net-income reconciliation.
The balance sheet changed substantially from December 31, 2025. Cash and cash equivalents were $324,350 and short-term investments were —, while convertible senior notes, net, were 1,319,137. Intangible assets, net, increased to 2,156,770 and goodwill increased to 1,999,072. Management said TPD integration has gone exceptionally well, and the balance-sheet movements and acquisition-related charges are central to evaluating the acquisition’s continuing effect on reported results.
No numerical forward guidance was included in the filing text, although SiTime said it plans to discuss its business outlook on the conference call. The company also announced a three-for-one forward stock split, with record date December 3, 2026, distribution after market close on December 4, 2026, and expected split-adjusted trading beginning December 7, 2026.
Management, verbatim
With its rapid organic growth and the addition of TPD, SiTime is now operating at a new level of scale and financial performance.
Rajesh Vashist, chairman and CEO of SiTime
In Q3, growth was broad-based, demonstrating strength well beyond any single market.
Rajesh Vashist, chairman and CEO of SiTime
Simultaneously, core CED revenue grew 202% year over year as the AI infrastructure buildout continued to drive demand for differentiated timing.
Rajesh Vashist, chairman and CEO of SiTime
Not in the filing
stated, not guessed- Numerical forward revenue guidance
- Forward gross-margin guidance
- Forward operating-expense guidance
- Forward tax-rate guidance
- Prior-period outlook for comparison
- Segment revenue disclosures
- Operating cash flow
- Free cash flow
- Share repurchases
- Cash dividends
- Cash-flow statement
- Quantified capital-return program
Written by an AI language model from the company’s SEC earnings filing (Form 8-K Item 2.02, or Form 6-K for a foreign private issuer). Every figure was checked against the filing text, and a metric whose value, prior period and change do not add up is dropped from the metrics. The model can still misread a table, in the metrics or in the text, so check a number in the filing before you rely on it. Consensus estimates, price targets and share-price reactions are not shown because they are not in the filing. AI-generated research, not investment advice.