SiTime reports 257% revenue growth following timing division acquisition
Image: Primary SiTime reported third-quarter revenue of $298.7 million, up 257% year over year, in results released November 4. Core SiTime revenue rose 154% to $212.4 million, while the acquired Renesas timing product division contributed $86.3 million.
Gross margin reached 70.7%, up 11.9 percentage points, supported by favorable product mix and manufacturing absorption. Communications, enterprise and data center revenue rose 202% to $127.3 million. Despite the revenue growth, operating activities used $6.6 million of cash during the quarter.
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