• SiTime is like **Tesla** for the 'heartbeat' of electronics, disrupting traditional quartz timing components with advanced silicon MEMS technology.
• Think of SiTime as the **Analog Devices** for precision electronic timing, innovating with superior silicon MEMS solutions over traditional quartz.
• SiTime is the **Intel** of timing components, bringing silicon innovation to replace the traditional quartz 'clock' inside electronics.

• MEMS Oscillators: Integrated circuits that leverage micro-electro-mechanical systems (MEMS) technology to generate highly accurate and stable timing signals for electronic devices.
• MEMS Resonators: Tiny, high-performance mechanical resonant structures that serve as the frequency reference heart for timing solutions, offering superior robustness and stability compared to traditional quartz crystals.

SiTime (symbol: SITM) primarily sells its advanced MEMS timing solutions (oscillators, resonators, and clock ICs) to other companies, operating on a Business-to-Business (B2B) model. Its products are critical components integrated into a wide array of electronic devices across various industries.

While SiTime's regulatory filings (such as its annual 10-K report) indicate a significant customer concentration—for instance, one customer accounted for 21% of its revenue in fiscal year 2023, and its top five customers accounted for 51%—the company does not publicly disclose the specific names of these major customers. This is a common practice in the semiconductor component industry to protect competitive information.

Based on SiTime's target market segments and product applications, its customers are typically Original Equipment Manufacturers (OEMs), Original Design Manufacturers (ODMs), and contract manufacturers who integrate timing components into their final products. These companies operate in the following key sectors. The examples provided below are representative of the types of companies that would be SiTime's customers, based on their product usage, and are not confirmed major customers by SiTime itself:

• Enterprise and Communications: Companies that design and manufacture equipment for data centers (servers, storage), networking infrastructure (routers, switches), and 5G/telecommunications systems.
  • Cisco Systems (CSCO)
  • Hewlett Packard Enterprise (HPE)
  • Dell Technologies (DELL)
  • Juniper Networks (JNPR)
• Automotive: Manufacturers of advanced driver-assistance systems (ADAS), in-vehicle networking, infotainment, autonomous driving systems, and other automotive electronics.
  • Tesla (TSLA)
  • Ford (F)
  • General Motors (GM)
  • Various Tier 1 automotive suppliers
• Industrial, IoT, and Medical: Companies producing industrial control systems, robotics, smart meters, sensors, medical devices, and other embedded or connected systems.
  • Honeywell (HON)
  • Various specialized industrial and medical device manufacturers (e.g., Siemens, Schneider Electric)
• Mobile and Consumer: Manufacturers of smartphones, wearables, laptops, tablets, gaming devices, cameras, and other personal electronics.
  • Apple (AAPL)
  • Google (GOOGL)
  • HP Inc. (HPQ)
  • Other major consumer electronics brands (e.g., Samsung, Lenovo)

• Taiwan Semiconductor Manufacturing Company, Limited (TSM)
• ASE Technology Holding Co., Ltd. (ASX)

Rajesh Vashist, Chairman and Chief Executive Officer

Mr. Vashist has served as SiTime's CEO since September 2007 and as Chairman since November 2019. He previously served as CEO and Chairman of Ikanos Communications, Inc., a semiconductor and software development company, from 1999 to 2006. He led Ikanos from a pre-revenue startup to a public company with a $600 million market value, eventually exiting in 2006 when it had $150 million in revenue and a half-billion market cap. Under his leadership, SiTime was acquired by MegaChips Corporation for $200 million in 2014, and subsequently spun off and went public in 2019. His career also includes general management and marketing positions at Adaptec, Rightworks, Vitelic Semiconductor, and Samsung Semiconductor.

Beth Howe, Executive Vice President, Finance and Chief Financial Officer

Ms. Howe was appointed SiTime's Executive Vice President and CFO, effective November 8, 2023. She brings over 25 years of financial leadership experience in the technology industry, including a 17-year tenure at HP Inc. At HP, she held various strategic finance roles, such as Chief Audit Executive, CFO for HP's multi-billion-dollar Graphics Solutions Business, and Vice President of Investor Relations.

Piyush Sevalia, Executive Vice President of Marketing

Mr. Sevalia has served as SiTime's Executive Vice President of Marketing since April 2012, having joined the company in 2008. He is credited with helping grow SiTime from a pre-revenue startup into a leader in MEMS timing solutions. Prior to SiTime, Mr. Sevalia held various marketing positions at Ikanos Communications, including Vice President of access infrastructure products, and at Cypress Semiconductor, where he defined and launched category-leading products.

Fariborz Assaderaghi, Executive Vice President, Engineering & Operations

Dr. Assaderaghi currently serves as Executive Vice President, Technology & Engineering at SiTime, a role he returned to in 2020. He previously served as Senior Vice President of Engineering and Operations at SiTime from 2008 to 2012, where he led the development and commercialization of MEMS-based timing technology. His extensive career includes roles as Vice President of Advanced Technology Development at TDK Invensense and Senior Vice President of Innovation and Advanced Technologies at NXP Semiconductors. He also co-founded Pyte (formerly CipherMode Labs) in 2020, which was acquired by All Hands AI, Inc. in February 2025.

Lionel Bonnot, Executive Vice President of Worldwide Sales and Business Development

Mr. Bonnot serves as Executive Vice President of Worldwide Sales and Business Development. SiTime is the third company where he has played a key leadership role in guiding the company from its pre-revenue stage through its IPO. Before joining SiTime, he was Senior Vice President of Marketing and Business Development at Quantenna Communications. He also held various sales and marketing positions at Ikanos Communications, Inc., including Vice President of Europe and Vice President of Sales for North America and EMEA.

The key risks to SiTime's business (SITM) are primarily centered around its outsourced manufacturing model, the highly competitive and cyclical nature of the semiconductor industry, and the resulting pressures on its financial performance.

1. Dependence on Third-Party Manufacturing and Global Supply Chain Risks: SiTime operates a fabless business model, meaning it relies entirely on third parties for critical manufacturing operations such as wafer fabrication, assembly, packaging, and testing. This dependence exposes the company to risks including timely supply, quality control, and potential disruptions in the global supply chain. These disruptions can arise from factors like natural disasters, geopolitical instability, trade restrictions, or other unforeseen events, which could adversely affect SiTime's ability to deliver products, impact customer satisfaction, and harm financial performance.
2. Intense Competition and Rapid Technological Change: The global semiconductor and timing markets are highly competitive and characterized by rapid technological advancements and evolving industry standards. SiTime faces ongoing threats of technological obsolescence, increased competition leading to price pressure, reduced gross margins, and potential loss of market share. Staying competitive necessitates continuous and significant investment in research and development, which can strain financial resources.
3. Impact of Macroeconomic Conditions and Pressure on Gross Margins: As a global company, SiTime's business and financial performance are susceptible to global macroeconomic conditions, including inflation, recessions, equity market volatility, and geopolitical tensions. Furthermore, the costs associated with introducing and scaling new products, along with competitive pressures, can lead to fluctuating and pressured gross margins, potentially eroding profitability despite revenue growth.

• The total addressable market (TAM) for the global timing market is estimated to grow to approximately $11 billion by 2027.
• Within this global market, oscillators are estimated to represent a total addressable market of approximately $5.0 billion in 2024.
• Standalone resonators are estimated to have a total addressable market of approximately $4.0 billion in 2024.
• Clock ICs represent an approximate total addressable market of $1.0 billion.
• The market for MEMS timing devices, a subset of the broader timing market, is projected to grow from approximately $0.25 billion in 2021 to $1.5 billion by 2027 globally.
• SiTime's Titan Platform, a family of MEMS resonators, expands its serviceable addressable market (SAM) by $400 million, with the potential to reach $1 billion annually within three years.
• The introduction of a new automotive oscillator family (AEC-Q100 SiT9396/7) expanded SiTime's served available market (SAM) by $50 million.

SiTime (SITM) is poised for future revenue growth over the next 2-3 years, driven by several key factors:

1. Surging Demand from AI Data Centers: The Communications, Enterprise, and Data Center (CED) segment is consistently highlighted as a primary driver, demonstrating triple-digit year-over-year growth. SiTime's precision timing solutions are crucial for AI infrastructure, including AI servers and networking equipment, and this segment is expected to continue leading the company's growth.
2. Expansion into New High-Growth Markets: SiTime is strategically diversifying its reach beyond CED, with strong performance and growth anticipated in automotive, industrial, and aerospace segments. The company is also entering the stand-alone resonator market with the introduction of its Titan Platform.
3. Introduction of Innovative and High-Performance Timing Products: New product launches, such as advanced clocking products with higher Average Selling Prices (ASPs) and the Titan Platform, are expected to significantly contribute to revenue. These differentiated solutions, based on SiTime's precision timing technology, address complex timing challenges and enhance product performance across various industries.
4. Increased Content per Device and Design Wins: SiTime anticipates generating more revenue by increasing the dollar content of its oscillators and clock generators within existing designs as shipments grow. The company is also securing numerous design wins for customized timing solutions in critical applications like AI, networking, and hyperscale platforms, indicating strong customer adoption.
5. Gains in the Broader Precision Timing Market: SiTime aims to capture a larger share of the estimated $10-11 billion timing market by offering superior semiconductor MEMS-based timing solutions that outperform traditional quartz-based oscillators. This strategic advantage allows for single-sourcing from customers and positions SiTime as a leader in a dynamic semiconductor category.

Share Issuance

• SiTime completed a follow-on public offering on June 27, 2025, issuing 2,012,500 shares of common stock at $200.00 per share. The net proceeds to SiTime were approximately $387.4 million.
• In June 2025, SiTime announced a proposed follow-on public offering to raise $350 million through common stock shares, with underwriters having a 30-day option to purchase up to an additional $52.5 million in shares.
• As of November 1, 2025, shares outstanding were reported at 26.1 million.

Outbound Investments

• SiTime has made no investments or acquisitions.

Capital Expenditures

• For the last 12 months ending in November 2025, capital expenditures totaled -$55.53 million.
• In Q2 2025, capital expenditures were $18.3 million.
• SiTime's capital expenditures are regularly invested in property, plant, and equipment, aligning with growth plans and supporting new product introductions, particularly for AI-driven demand in data centers and infrastructure.