SiTime (SITM) Q2 2026 earnings summary

Executive summary

• Q2 2026 revenue reached $157.4M, up 127% year-over-year, with broad-based growth across all business units and regions, notably a 181% increase in CED segment revenue.

• Net income for Q2 2026 was $18.2M (GAAP), compared to a net loss of $20.2M in Q2 2025; non-GAAP net income was $65.7M.

• Closed the acquisition of Renesas' Timing Products Division (TPD) on July 1, 2026, funded by $1.5B in cash, 3.56M shares, and $1.35B convertible senior notes, expanding the product portfolio and accelerating the path to $1B in revenue.

Financial highlights

• Q2 2026 gross margin was 67.1% non-GAAP (63.0% GAAP), up from 58.2% non-GAAP (51.9% GAAP) year-over-year, driven by favorable product mix and improved manufacturing absorption.

• Operating margin reached 34% non-GAAP (5.2% GAAP), up from 10% a year ago; operating income was $53.5M.

• Non-GAAP EPS was $2.34; GAAP EPS was $0.66.

• Cash, cash equivalents, and short-term investments totaled $1.92B as of June 30, 2026, with $1.5B used for the Renesas acquisition in July.

• Cash flow from operations more than doubled to $40M; free cash flow was $27.1M.

Outlook and guidance

• Q3 2026 revenue expected at $285M–$295M, with SiTime ex-TPD at $200M–$210M (up 30% sequentially) and TPD at ~$85M.

• Gross margin guidance for Q3 is ~68% ±1 point; operating expenses projected at $80M–$85M.

• Q3 non-GAAP EPS expected in the range of $3.50–$3.65.

• Multi-year growth rate projected at 30% or higher, with no signs of slowdown through 2027.

• Sufficient liquidity is expected for at least the next 12 months, including acquisition commitments.