$SITM
SITIME Corp

2021 Q1 Form 10-Q Financial Statement

#000156459021024051 Filed on May 05, 2021

View on sec.gov

Income Statement

Concept 2021 Q1 2020 Q1
Revenue $35.54M $21.74M
YoY Change 63.49% 46.72%
Cost Of Revenue $16.73M $11.77M
YoY Change 42.15% 62.78%
Gross Profit $18.82M $9.976M
YoY Change 88.62% 31.45%
Gross Profit Margin 52.94% 45.89%
Selling, General & Admin $11.12M $7.808M
YoY Change 42.46% 86.3%
% of Gross Profit 59.11% 78.27%
Research & Development $11.18M $7.024M
YoY Change 59.17% 20.69%
% of Gross Profit 59.41% 70.41%
Depreciation & Amortization $1.617M $1.964M
YoY Change -17.67% 2.19%
% of Gross Profit 8.59% 19.69%
Operating Expenses $22.30M $14.83M
YoY Change 50.37% 48.16%
Operating Profit -$3.486M -$4.856M
YoY Change -28.21% 100.5%
Interest Expense $0.00 $303.0K
YoY Change -100.0% -30.82%
% of Operating Profit
Other Income/Expense, Net -$39.00K $68.00K
YoY Change -157.35% -780.0%
Pretax Income -$3.525M -$5.091M
YoY Change -30.76% 77.39%
Income Tax $40.00K $2.000K
% Of Pretax Income
Net Earnings -$3.565M -$5.093M
YoY Change -30.0% 77.46%
Net Earnings / Revenue -10.03% -23.43%
Basic Earnings Per Share -$0.20
Diluted Earnings Per Share -$0.20 -$339.1K
COMMON SHARES
Basic Shares Outstanding 17.87M 15.06M
Diluted Shares Outstanding 17.87M

Balance Sheet

Concept 2021 Q1 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $257.0M $71.20M
YoY Change 260.96%
Cash & Equivalents $257.0M $71.20M
Short-Term Investments
Other Short-Term Assets $885.0K $795.0K
YoY Change 11.32%
Inventory $14.98M $14.20M
Prepaid Expenses $1.105M $1.113M
Receivables $22.21M $15.80M
Other Receivables $1.000M $600.0K
Total Short-Term Assets $297.7M $105.0M
YoY Change 183.52%
LONG-TERM ASSETS
Property, Plant & Equipment $14.93M $19.40M
YoY Change -23.06%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $200.0K $200.0K
YoY Change 0.0%
Total Long-Term Assets $26.40M $23.20M
YoY Change 13.79%
TOTAL ASSETS
Total Short-Term Assets $297.7M $105.0M
Total Long-Term Assets $26.40M $23.20M
Total Assets $324.1M $128.2M
YoY Change 152.81%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $9.000M $4.300M
YoY Change 109.3%
Accrued Expenses $12.70M $8.000M
YoY Change 58.75%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $50.00M
YoY Change -100.0%
Long-Term Debt Due $50.00M
YoY Change
Total Short-Term Liabilities $21.70M $62.30M
YoY Change -65.17%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $7.100M $7.900M
YoY Change -10.13%
Total Long-Term Liabilities $7.100M $7.900M
YoY Change -10.13%
TOTAL LIABILITIES
Total Short-Term Liabilities $21.70M $62.30M
Total Long-Term Liabilities $7.100M $7.900M
Total Liabilities $28.80M $70.20M
YoY Change -58.97%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $295.3M $58.01M
YoY Change
Total Liabilities & Shareholders Equity $324.1M $128.2M
YoY Change 152.81%

Cashflow Statement

Concept 2021 Q1 2020 Q1
OPERATING ACTIVITIES
Net Income -$3.565M -$5.093M
YoY Change -30.0% 77.46%
Depreciation, Depletion And Amortization $1.617M $1.964M
YoY Change -17.67% 2.19%
Cash From Operating Activities $6.075M $2.035M
YoY Change 198.53% -59.51%
INVESTING ACTIVITIES
Capital Expenditures $3.866M $1.138M
YoY Change 239.72% 606.83%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$4.236M -$1.417M
YoY Change 198.94% 274.87%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $181.9M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 181.6M 7.212M
YoY Change 2417.86%
NET CHANGE
Cash From Operating Activities 6.075M 2.035M
Cash From Investing Activities -4.236M -1.417M
Cash From Financing Activities 181.6M 7.212M
Net Change In Cash 183.4M 7.830M
YoY Change 2242.62% 68.46%
FREE CASH FLOW
Cash From Operating Activities $6.075M $2.035M
Capital Expenditures $3.866M $1.138M
Free Cash Flow $2.209M $897.0K
YoY Change 146.27% -81.56%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2021Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
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CY2021Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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CY2020Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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CY2021Q1 us-gaap Cost Of Revenue
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CY2020Q1 us-gaap Cost Of Revenue
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CY2021Q1 us-gaap Gross Profit
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CY2020Q1 us-gaap Gross Profit
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CY2021Q1 us-gaap Research And Development Expense
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CY2020Q1 us-gaap Research And Development Expense
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CY2021Q1 us-gaap Selling General And Administrative Expense
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CY2020Q1 us-gaap Operating Expenses
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CY2021Q1 us-gaap Operating Income Loss
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CY2020Q1 us-gaap Operating Income Loss
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CY2020Q1 us-gaap Interest Expense
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303000
CY2021Q1 us-gaap Other Nonoperating Income Expense
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CY2020Q1 us-gaap Other Nonoperating Income Expense
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CY2021Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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-3525000
CY2020Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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-5091000
CY2021Q1 us-gaap Income Tax Expense Benefit
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CY2020Q1 us-gaap Income Tax Expense Benefit
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CY2021Q1 us-gaap Net Income Loss
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CY2020Q1 us-gaap Net Income Loss
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CY2021Q1 sitm Net Income Loss Attributable To Common Stockholder And Comprehensive Income Loss
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CY2020Q1 sitm Net Income Loss Attributable To Common Stockholder And Comprehensive Income Loss
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CY2021Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.20
CY2020Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
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CY2021Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
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CY2020Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
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CY2020Q4 us-gaap Stockholders Equity
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CY2021Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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CY2021Q1 us-gaap Stockholders Equity
StockholdersEquity
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CY2019Q4 us-gaap Stockholders Equity
StockholdersEquity
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CY2020Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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2755000
CY2020Q1 us-gaap Net Income Loss
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-5093000
CY2020Q1 us-gaap Restricted Stock Value Shares Issued Net Of Tax Withholdings
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CY2021Q1 us-gaap Increase Decrease In Inventories
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CY2020Q1 us-gaap Increase Decrease In Inventories
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CY2021Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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CY2020Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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CY2021Q1 us-gaap Increase Decrease In Accounts Payable
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CY2020Q1 us-gaap Increase Decrease In Accounts Payable
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CY2021Q1 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
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CY2020Q1 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
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CY2021Q1 sitm Increase Decrease In Lease Liabilities
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CY2020Q1 sitm Increase Decrease In Lease Liabilities
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CY2021Q1 us-gaap Net Cash Provided By Used In Operating Activities
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CY2020Q1 us-gaap Increase Decrease In Accounts Receivable
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CY2021Q1 us-gaap Increase Decrease In Accounts Receivable Related Parties
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CY2020Q1 us-gaap Increase Decrease In Accounts Receivable Related Parties
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CY2021Q1 us-gaap Payments To Acquire Intangible Assets
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CY2020Q1 us-gaap Payments To Acquire Intangible Assets
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CY2021Q1 us-gaap Net Cash Provided By Used In Investing Activities
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CY2020Q1 us-gaap Net Cash Provided By Used In Investing Activities
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CY2021Q1 us-gaap Proceeds From Issuance Of Common Stock
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CY2021Q1 us-gaap Payments Of Stock Issuance Costs
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CY2020Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
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CY2020Q1 us-gaap Repayments Of Lines Of Credit
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CY2021Q1 us-gaap Net Cash Provided By Used In Financing Activities
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CY2020Q1 us-gaap Net Cash Provided By Used In Financing Activities
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CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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CY2021Q1 us-gaap Income Taxes Paid Net
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1436000
CY2020Q1 us-gaap Noncash Or Part Noncash Acquisition Fixed Assets Acquired1
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153000
CY2021Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
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CY2020Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
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CY2021Q1 us-gaap Fiscal Period
FiscalPeriod
<p style="margin-top:6pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;color:#000000;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;"><span style="Background-color:#FFFFFF;">Reporting Calendar</span></p> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:0%;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><span style="Background-color:#FFFFFF;">The Company’s fiscal year begins on January 1 of the year stated and ends on December 31 of the same year. The Company reports its results on a calendar year basis.</span></p>
CY2021Q1 us-gaap Net Income Loss
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-3565000
CY2020Q1 us-gaap Net Income Loss
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CY2021Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
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CY2020Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
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CY2021Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
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17868000
CY2020Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
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15010000
CY2021Q1 us-gaap Earnings Per Share Basic And Diluted
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-0.20
CY2020Q1 us-gaap Earnings Per Share Basic And Diluted
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AccountsReceivableGrossCurrent
22264000
CY2020Q4 us-gaap Accounts Receivable Gross Current
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23970000
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CY2020Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
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22214000
CY2020Q4 us-gaap Accounts Receivable Net Current
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23920000
CY2021Q1 us-gaap Inventory Raw Materials
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1900000
CY2020Q4 us-gaap Inventory Raw Materials
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CY2021Q1 us-gaap Inventory Work In Process
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CY2020Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
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CY2020Q4 us-gaap Inventory Finished Goods
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CY2020Q4 us-gaap Inventory Net
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2558000
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CY2020Q1 us-gaap Amortization Of Intangible Assets
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CY2021Q1 sitm Prepayments To Suppliers
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CY2020Q4 sitm Prepayments To Suppliers
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CY2021Q1 us-gaap Prepaid Expense Current
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CY2020Q4 us-gaap Prepaid Expense Current
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CY2021Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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CY2021Q1 us-gaap Property Plant And Equipment Net
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CY2020Q4 us-gaap Property Plant And Equipment Net
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CY2021Q1 us-gaap Depreciation
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CY2020Q1 us-gaap Depreciation
Depreciation
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CY2021Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
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CY2021Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
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CY2021Q1 us-gaap Finite Lived Intangible Assets Net
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2558000
CY2021Q1 us-gaap Employee Related Liabilities Current
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CY2020Q4 sitm Price Changes And Other Revenue Reserves Current
PriceChangesAndOtherRevenueReservesCurrent
3063000
CY2021Q1 us-gaap Operating Lease Liability Current
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CY2020Q4 us-gaap Operating Lease Liability Current
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CY2021Q1 us-gaap Other Accrued Liabilities Current
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CY2020Q4 us-gaap Other Accrued Liabilities Current
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CY2021Q1 sitm Accrued Expenses And Other Current Liabilities
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CY2020Q4 sitm Accrued Expenses And Other Current Liabilities
AccruedExpensesAndOtherCurrentLiabilities
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CY2021Q1 us-gaap Lessee Operating Lease Lease Not Yet Commenced Description
LesseeOperatingLeaseLeaseNotYetCommencedDescription
Company did not have any leases that had not yet commenced.
CY2021Q1 us-gaap Operating Lease Right Of Use Asset
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CY2020Q4 us-gaap Operating Lease Right Of Use Asset
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CY2020Q1 us-gaap Short Term Lease Cost
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CY2021Q1 us-gaap Variable Lease Cost
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CY2020Q1 us-gaap Variable Lease Cost
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CY2021Q1 us-gaap Lease Cost
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CY2020Q1 us-gaap Lease Cost
LeaseCost
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CY2021Q1 us-gaap Operating Lease Cost
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CY2020Q1 us-gaap Operating Lease Cost
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CY2021Q1 us-gaap Short Term Lease Cost
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CY2021Q1 us-gaap Operating Lease Payments
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CY2020Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
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CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
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803000
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
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CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
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CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
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CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
1580000
CY2021Q1 sitm Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
2016000
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
9253000
CY2021Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
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1151000
CY2021Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
8102000
CY2021Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
1035000
CY2021Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
7067000
CY2020Q3 sitm Accrued Expenses And Other Current Liabilities
AccruedExpensesAndOtherCurrentLiabilities
500000
CY2021Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6976000
CY2020Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2755000
CY2020Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-5091000
CY2021Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
40000
CY2020Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2000
CY2021Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.011
CY2020Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0
CY2021Q1 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
2600000
CY2020Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
2400000
CY2021Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
CY2021Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-3525000
CY2021Q1 sitm Percentage Of Long Lived Assets
PercentageOfLongLivedAssets
0.95
CY2020Q4 sitm Percentage Of Long Lived Assets
PercentageOfLongLivedAssets
0.97
CY2021Q1 us-gaap Line Of Credit Facility Remaining Borrowing Capacity
LineOfCreditFacilityRemainingBorrowingCapacity
0
CY2020Q4 us-gaap Line Of Credit Facility Remaining Borrowing Capacity
LineOfCreditFacilityRemainingBorrowingCapacity
0

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