SITIME Corp

SiTime reported strong financial results for Q2 2026, with revenue increasing by 126.5% to $157.4 million and a swing to a net income of $18.2 million from a loss in the prior year. Diluted EPS also turned positive at $0.66. The company also issued $1.35 billion in convertible senior notes in May 2026 and completed the acquisition of Renesas' timing business for approximately $1.5 billion in cash and shares on July 1, 2026, significantly expanding its operations.

SiTime Corporation reported strong financial results for the second quarter of 2026, with net revenue increasing 127% year-over-year to $157.4 million. The company achieved a non-GAAP net income of $65.6 million, or $2.34 per diluted share, and a non-GAAP gross margin of 67.1%. SiTime also announced the completion of its acquisition of Renesas' Timing Business on July 1, 2026, which significantly expanded its product portfolio with over 550 clocking products.

SiTime Corporation announced strong financial results for the second quarter ended June 30, 2026, with net revenue increasing 127% year-over-year to $157.4 million. The company reported GAAP diluted EPS of $0.66 and non-GAAP diluted EPS of $2.34. SiTime also completed the acquisition of Renesas' Timing Business on July 1, 2026, adding over 550 clocking products to its portfolio, and granted inducement RSUs to new employees, including those from the acquisition.

SiTime Corporation announced it will release its second quarter 2026 financial results after market close on Wednesday, August 5, 2026. Following the release, the company will host a conference call at 2:00 p.m. Pacific Time to discuss the results. CEO Rajesh Vashist and CFO Beth Howe will lead the call, which will also be accessible via live audio webcast.

SiTime Corporation has completed the acquisition of Renesas Electronics Corporation's timing business, a strategic move expected to accelerate SiTime's revenue path to $1 billion and expand its clocking portfolio by 10x. The acquired business, with a 30-year legacy and 70% gross margin, is projected to generate at least $300 million in revenue in the next 12 months, primarily from the AI-Datacenter-Comms segment. Additionally, SiTime secured a new $200 million senior secured revolving credit facility with Wells Fargo for working capital and general corporate purposes.

SiTime Corporation completed its registered public offering of $1.35 billion aggregate principal amount of 0% Convertible Senior Notes due 2031, which included the full exercise of the underwriters' over-allotment option. The notes are unsecured and mature on June 15, 2031, with an initial conversion price of approximately $1,040.47 per share, representing a 50% premium. Net proceeds will fund a portion of the Renesas timing business acquisition, capped call transactions, and general corporate purposes.

SiTime Corporation announced its intent to offer $1.1 billion in Convertible Senior Notes due in 2031 through an underwritten offering. The company also plans to grant underwriters an option to purchase an additional $150 million in notes. Proceeds will primarily fund a portion of the cash consideration for the acquisition of Renesas Electronics Corporation's timing business assets, cover capped call transactions, and for general corporate purposes.

SiTime Corporation announced that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 for its acquisition of Renesas Electronics America Inc.'s timing business assets expired on May 8, 2026. This expiration satisfies a significant condition for the closing of the acquisition, valued at approximately $1.5 billion in cash and 4,130,644 shares of SiTime common stock. The closing remains subject to other customary conditions. SiTime has also secured a debt financing commitment of up to $900 million from Wells Fargo to fund a portion of the cash consideration.

SITIME Corp announced a proposed acquisition of Renesas Electronics America Inc.'s Timing business for approximately $1.5 billion in cash and 4.13 million shares of common stock. This strategic move is supported by a $900 million debt financing commitment from Wells Fargo. Concurrently, SITIME reported strong first-quarter 2026 financial results, with revenue surging 88.3% year-over-year to $113.57 million and a significant reduction in net loss to $(5.22) million from $(23.88) million in the prior year period.

SiTime Corporation announced strong financial results for the first quarter of 2026, with net revenue increasing 88.3% year-over-year to $113.6 million. The company reported a GAAP net loss of $5.2 million ($0.20 per diluted share) but achieved a non-GAAP net income of $38.9 million ($1.44 per diluted share). CEO Rajesh Vashist highlighted the significant momentum in the Precision Timing category, driven by growth in AI infrastructure and high-performance systems. Additionally, SiTime granted 41,471 restricted stock units to 42 new hires under its inducement award plan.