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SITM Nasdaq Russell 1000 Earnings call

SiTime (SITM) · Q2 2026 results and valuation

Share price: $472.56 · 2026-11-11

Results Q2 2026 vs Q1 2026 · previous quarter · published 5 Aug 2026 and 7 May 2026

Net income turned to a profit from a loss last quarter. Management sounded upbeat, in its script and in answers to analysts.

Only a basic analysis is available for this company at the moment.

1 · Numbers

Turned profit

Net income vs Q1 2026

Outlook given

Net income 18.2M vs -5.2M

Revenue +38.6%

2 · How management spoke

Upbeat

More upbeat than 73% of company calls

Answers to analysts: very upbeat, in line with the script.

Similar to last call.

3 · What stood out

Guidance

SITM updated its guidance to expect Q3 non GAAP EPS to be in the range of $3.50 to $3.65 per share.

Valuation

Is SiTime undervalued?

Reverse DCF. Free cash flow from the last full fiscal year (2025-12-31), grown for 10 years, discounted back, plus a terminal value. “Implied growth” is the rate the current price assumes.

The projected cash flow doesn't cover the debt, so the price is far above the model's fair value.

Current price

$472.56

close of 2026-11-11

Market implies growth of iThe yearly free-cash-flow growth, for the next 10 years, that today’s share price already assumes. If you believe the company grows faster than this, the stock is cheap under this model; slower, and it is expensive.

+52.3% for 10 yrs

Fair value / share

$-27.24

Buy below

$-20.43

Price vs fair value

n/a

Price vs buy-below price

n/a

Management expects

Revenue +100% · from the Q2 2026 report: “SITM expects 2027 revenue to grow by 100% from 1.6 t while 800G also grows significantly.”

A guidance figure for revenue, usually one year ahead, not a 10-year free-cash-flow rate.

Official channels

The company's own website and social media accounts.

Read between the lines

  1. Key theme

    SiTime expanded its portfolio of differentiated products to meet the high performance and resilient timing needs of high performance systems.

    Source quote
    “We started with a simple vision, High performance systems need high performance resilient timing, or precision timing. Today, I am happy to introduce you to an expanded SiTime. We have delivered on that vision with the most compelling differentiated portfolio in the industry.”
  2. Guidance

    SITM expects 2027 revenue to grow by 100% from 1.6 t while 800G also grows significantly.

    Source quote
    “In 2027, we expect our 1.6 t revenue to grow by 100% while 800G also grows significantly.”
  3. Figure

    Revenue reached $157 million, up 127% year over year, while gross margins increased by 8.9% points to 67.1%.

    Source quote
    “Revenue was $157 million up 127% year over year Gross margins were 67.1%, up 8.9% points.”
  4. Fading

    Management reported that back-end execution issues and OSAT volume challenges are manageable because 2024 and 2025 automation and AI improvements provided significant speed.

    Source quote
    “So we feel pretty good about it I think we have some challenges from time to time in the back end, particularly with the OSATs because of the volume, as you noted, but there's nothing there that's beyond the usual execution issues that we can't solve. Back in 2025, early '25 and maybe even late '24, we made a number of changes around automation in the back end, around the use of AI in our test programs and characterization that have given us particular speed.”

Tone

How upbeat the language was, compared with other companiesiTone counts positive minus negative finance words, adjusted for length. Executives mostly speak positively, so the labels compare each call with every company's latest call: “typical” is the middle third, “very upbeat” the top tenth, “cautious” the bottom tenth.. Dot: Q2 2026. Ring: Q1 2026.

Prepared remarks Upbeat (was upbeat)
Answers to analysts Very upbeat (was typical)

Script and answers carried a similar tone, so the script's message held up under questioning.

Sentences that drove the tone
“We delivered significant revenue growth expanded gross margins and increased operating profitability while continuing to invest for the future.”
“Growth in this segment continues to reflect expanding demand for precision timing across AI infrastructure including optical modules, switches, accelerators, and related high performance systems.”
“Non GAAP net income was $65.7 million and non GAAP earnings per share were $2.34 These results reflect strong revenue growth expanded gross margin and continued operating leverage.”

Full figures

USD · SEC EDGAR XBRL (10-Q, period end 2026-06-30)

Metric Q2 2026period end 2026-06-30 Q1 2026period end 2026-03-31 Change Q2 2025 YoY
Revenue 157.4M 113.6M +38.6% 69.5M +126.5%
Gross profit 99.1M 67.0M +48.1% 36.1M +175.0%
Operating income 8.2M -12.3M Turned profit -24.6M Turned profit
Net income 18.2M -5.2M Turned profit -20.2M Turned profit
EPS 0.66 -0.20 Turned profit -0.84 Turned profit
P/E today 1183.4 1242.6 12-mo loss — 12-mo loss —

Topics

Most discussed now

  • SiTime expects the CED business to continue to show strong growth And again, triple digit growth again in Q3.
  • New This GAAP to non GAAP reconciliation includes stock-based compensation expense, amortization of acquired intangibles, amortization of…
  • Other markers of strength, book to bill, order size, ASPs, all grew on a higher value product mix.
  • Channel inventory held on to a tight target levels reflecting strong pull through.
  • Reflecting strong sequential growth from SiTime's large consumer customer which delivered revenue of $22.8 million in the quarter.

Faded since Q1 2026

  • Dropped There is some benefit particularly in the module business, where the volumes have soared recently, and SiTime sees that some...
  • Fading I'm also very happy that SiTime's precision timing category, creating a category in semiconductors of products is really hard to...
  • Fading Said another way, there's still operating leverage in the model, and SiTime expects to continue to drive that operating leverage.
  • Fading New customer penetration has certainly helped, but expanding share within older customers because SiTime was never fully penetrated, and it…

Latest announcements

Official filings, newest first.

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