SiTime Corp (SITM) Q3 2024 Earnings Call Highlights: Record Revenue Growth and Strategic Market ...

GuruFocus.com11-07

Revenue: $57.7 million, up 62% year-on-year. Net Income: $9.6 million, representing 17% of revenue or $0.40 per share. Non-GAAP Gross Margin: 58.1%, up 40 basis points sequentially. Non-GAAP Operating...

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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSiTime Corp (SITM) Q3 2024 Earnings Call Highlights: Record Revenue Growth and Strategic Market ...\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-07 23:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/sitime-corp-sitm-q3-2024-150041563.html><strong>GuruFocus.com</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Revenue: $57.7 million, up 62% year-on-year.\nNet Income: $9.6 million, representing 17% of revenue or $0.40 per share.\nNon-GAAP Gross Margin: 58.1%, up 40 basis points sequentially.\nNon-GAAP Operating...</p>\n\n<a href=\"https://finance.yahoo.com/news/sitime-corp-sitm-q3-2024-150041563.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"SITM","symbol_name":"SiTime Corp","start_time":0,"source_url":"https://finance.yahoo.com/news/sitime-corp-sitm-q3-2024-150041563.html","article_id":"2481878771","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/RTzvoVREvhwOnO_1m_fSYg--~B/aD0yOTA7dz0yOTA7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/us.finance.gurufocus/e7852dfe5c54c7113c4a038ae00353c8"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2481878771","pubTimestamp":1730991641,"columns":[],"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Net Income: $9.6 million, representing 17% of revenue or $0.40 per share.Non-GAAP Gross Margin: 58.1%, up 40 basis points sequentially.Non-GAAP Operating Profit: $4 million, a significant improvement of $9.7 million versus the prior year.Communications, Enterprise, and Data Center Revenue: $19.7 million, up 233% year-on-year.Automotive, Industrial, and Aerospace Revenue: $17.7 million, up 51% year-on-year.Mobile, IoT, and Consumer Revenue: $20.3 million, up 14% year-on-year.Cash, Cash Equivalents, and Short-term Investments: $435 million at the end of the quarter.Cash from Operations: $8.2 million generated during the quarter.Capital Expenditures: $15 million invested in capital purchases.Q4 Revenue Outlook: Expected to be $63 million to $65 million.Q4 Non-GAAP Gross Margin Outlook: Expected to be in the range of 58% to 58.5%.Q4 Non-GAAP EPS Outlook: Expected to be in the range of $0.39 to $0.45 per share.SiTime Corp  reported a 62% year-over-year revenue growth to $57.7 million for Q3","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"SITM":"SiTime Corp"},"translate_title":"SiTime Corp(SITM)2024年第三季度收益看涨期权亮点：创纪录的收入增长和战略市场……","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"SITM":1},"content_text":"Revenue: $57.7 million, up 62% year-on-year.\nNet Income: $9.6 million, representing 17% of revenue or $0.40 per share.\nNon-GAAP Gross Margin: 58.1%, up 40 basis points sequentially.\nNon-GAAP Operating Profit: $4 million, a significant improvement of $9.7 million versus the prior year.\nCommunications, Enterprise, and Data Center Revenue: $19.7 million, up 233% year-on-year.\nAutomotive, Industrial, and Aerospace Revenue: $17.7 million, up 51% year-on-year.\nMobile, IoT, and Consumer Revenue: $20.3 million, up 14% year-on-year.\nCash, Cash Equivalents, and Short-term Investments: $435 million at the end of the quarter.\nCash from Operations: $8.2 million generated during the quarter.\nCapital Expenditures: $15 million invested in capital purchases.\nQ4 Revenue Outlook: Expected to be $63 million to $65 million.\nQ4 Non-GAAP Gross Margin Outlook: Expected to be in the range of 58% to 58.5%.\nQ4 Non-GAAP EPS Outlook: Expected to be in the range of $0.39 to $0.45 per share.\n\n\nWarning! GuruFocus has detected 8 Warning Signs with SITM.\n\nRelease Date: November 06, 2024\nFor the complete transcript of the earnings call, please refer to the full earnings call transcript.\n Positive Points \n\nSiTime Corp (NASDAQ:SITM) reported a 62% year-over-year revenue growth to $57.7 million for Q3 2024, demonstrating strong financial performance.\nThe company's communications, enterprise, and data center (CED) segment revenue grew over 200% year-over-year, driven by investments in AI infrastructure.\nSiTime Corp (NASDAQ:SITM) achieved a non-GAAP operating profit of $4 million, marking a significant improvement of $9.7 million compared to the previous year.\nThe company has a diverse revenue stream across various markets, including automotive, industrial, and aerospace, which grew by 51% year-over-year.\nSiTime Corp (NASDAQ:SITM) ended the quarter with a strong cash position of $435 million, providing a solid financial foundation for future investments and growth.\n\n Negative Points \n\nDespite strong growth, SiTime Corp (NASDAQ:SITM) faces challenges in penetrating the hyperscaler market, limiting its reach in some high-growth areas.\nThe company's gross margin, while improved, is still below the long-term target of 60%, with expectations to reach this target by the second half of 2025.\nSiTime Corp (NASDAQ:SITM) anticipates a seasonal decline in revenue for Q1 2025, which could impact short-term financial performance.\nThe automotive segment, while growing, is heavily reliant on innovative car companies, particularly electric vehicles, which may pose a risk if market dynamics shift.\nThe company's expansion into the clock market is dependent on lengthy design win cycles, which could delay revenue realization from this segment.\n\n Q & A Highlights \nQ: Can you discuss the data center market and the mix of content positions in AI servers and other areas? A: Rajesh Vashist, CEO: We see growth across all areas, including servers, switches, and pluggables. Server content is expected to grow substantially, particularly in switches and CPU servers. The pluggable content is the least in dollar amount, but switches and servers have higher content opportunities.\nQ: What is the expected growth rate for the Communications, Enterprise, and Data Center (CED) segment in 2025? A: Rajesh Vashist, CEO: We anticipate CED to grow at a rate exceeding the corporate growth rate of approximately 30%. This is due to the diversity of our revenue streams, which allows us to maintain a balanced growth trajectory.\nQ: Can you provide guidance on segment growth for the fourth quarter? A: Elizabeth Howe, CFO: We expect CED to lead growth, with the consumer IoT mobile segment also showing good growth due to the holiday season. The automotive, industrial, and aerospace segments are expected to continue their strong performance.\nQ: How does SiTime's content in software-defined vehicles compare to traditional vehicles? A: Rajesh Vashist, CEO: Our SAM in the automotive market is about $400 million to $500 million, primarily driven by automated driving technologies. We have significant presence in electric vehicles, particularly in China and the U.S., with use cases in ADAS, cameras, sensors, and GPS.\nQ: What is the outlook for gross margins and when can you achieve 60% or higher? A: Elizabeth Howe, CFO: We expect to reach 60% gross margins by the second half of 2025 as new products ramp up. We typically see a seasonal decline in Q1, but we are on track to achieve our long-term margin goals.\nFor the complete transcript of the earnings call, please refer to the full earnings call transcript.This article first appeared on \nGuruFocus.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2481878771"}