Sitime (SITM) FY2024 results: revenue $203 million, up 40.8% on the year

Sitime Corp. (SITM) reported revenue of $203 million for fiscal 2024, the year ended 31 December 2024, up 40.8% on the year before. Net income was -$94 million, and diluted earnings per share $-4.05. The figures are the company's own, from the 10-K it filed with the SEC on 14 February 2025.

Revenue

$203 million

+40.8% on the year

FY2018FY2024

Operating margin

-56.9%

-74.4% a year earlier

FY2018FY2024

Net income

-$94 million

FY2018FY2024

Diluted EPS

-$4.05

FY2018FY2024

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2024 · Q2 FY2024 · Q3 FY2024 · Q4 FY2024

Income statement (profit and loss)

$ million	FY2024	FY2023	FY2022	On the year
Revenue	203	144	284	+40.8%
Cost of revenue	98.2	61.9	101	+58.6%
Gross profit	104	82.1	183	+27.3%
Gross margin	51.6%	57.0%	64.5%
Research and development	107	97.6	90.3	+9.5%
Selling, general and administrative	102	84.0	76.5	+21.7%
Operating income	-115	-107	16.1
Operating margin	-56.9%	-74.4%	5.7%
Pre-tax income	-93.1	-80.4	23.3
Income tax	0.5	0.2	0.1	+219.7%
Effective tax rate	n/a	n/a	0.4%
Net income	-93.6	-80.5	23.3
Net margin	-46.2%	-55.9%	8.2%
Diluted EPS	-$4.05	-$3.63	$1.03

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	FY2024	FY2023	FY2022	On the year
Operating cash flow	23.2	8.1	39.8	+187.9%
Capital expenditure	36.2	8.9	31.8	+304.9%
Free cash flow	-13.0	-0.9	8.0
Free cash flow margin	-6.4%	-0.6%	2.8%
Cash from investing	64.8	-36.7	-560
Cash from financing	-91.3	3.5	-4.5
Depreciation and amortisation	30.1	16.1	11.8	+86.5%
Share-based compensation	92.6	76.8	57.4	+20.7%
Diluted shares, weighted	23m	22m	23m	+4.2%
Shares outstanding at period end	24m	23m	22m	+4.0%

Balance sheet

$ million	FY2024	FY2023	FY2022	On the year
Shareholders' equity	700	708	708	-1.2%
Debt	0.0	0.0	0.0
Operating lease liabilities	3.5	5.4	8.1	-35.7%
Other liabilities	182	238	34.0	-23.7%
Total liabilities and equity	885	952	751	-7.0%
Fixed assets	82.5	54.7	58.8	+50.8%
Goodwill	87.1	87.1	0.0	0.0%
Intangible assets	164	177	5.2	-7.6%
Cash and equivalents	6.1	9.5	34.6	-35.5%
Receivables	38.2	21.9	41.2	+74.8%
Inventory	76.7	65.5	57.6	+17.1%
Other assets	431	536	553	-19.6%
Total assets	885	952	751	-7.0%

10-K for the year ended 31 December 2024, filed 14 February 2025: the filing.