SiTime Q2 Revenue Surges 127% to $157M, Swings to Profit; $1.35B Convertible Notes and Renesas Acquisition Closed
SITM has more than doubled off its 52-week low of $187.56.
Summary
SiTime's Q2 2026 revenue jumped 127% to $157.4M, swinging to a profit. The company closed a $1.35B convertible notes offering and completed its $1.5B acquisition of Renesas' timing business on July 1.
Key Events · Earnings and Guidance · SITM
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Revenue More Than Doubles
Q2 2026 revenue of $157.4M, up 127% YoY, driven by AI and datacenter demand. Six-month revenue reached $271.0M, up 109%.
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Swings to Profitability
Net income of $18.2M ($0.66 diluted EPS) vs. a net loss of $20.2M in Q2 2025. Gross margin expanded to 63.0% from 51.9%.
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$1.35B Convertible Notes Issued
In May 2026, SiTime issued $1.35B of 0% convertible senior notes due 2031, with net proceeds of ~$1.32B. The notes are convertible at ~$1,040.47 per share, a 50% premium to the stock price at pricing.
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Renesas Timing Business Acquired
On July 1, 2026, SiTime completed the $1.5B acquisition of Renesas' timing business, paying $1.5B in cash and issuing 3.56M shares. The deal was funded by the convertible notes and cash on hand.
Analysis · SITM · Manufacturing
SiTime delivered a blowout quarter, with revenue more than doubling year-over-year to $157.4 million and swinging to a net profit of $18.2 million from a loss a year ago. Gross margins expanded sharply to 63%, driven by a favorable product mix and operating leverage. The balance sheet was transformed by a $1.35 billion convertible notes offering in May, leaving the company with $1.92 billion in cash at quarter-end. That cash was immediately deployed on July 1 to close the $1.5 billion acquisition of Renesas' timing business, a deal that reshapes SiTime's scale and product portfolio. The combination of accelerating organic growth and a transformative acquisition makes this a thesis-altering report.
How filings like this one have moved
In the 30 days to Sep 16, 2026, 35.8% of the 1190 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.45%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, SITM was trading at $691.27 on NASDAQ in the Manufacturing sector, with a market capitalization of approximately $14.3B. The 52-week trading range was $187.56 to $901.81. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.