SITM - Earnings call transcript Q1 2021

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Operator

Good afternoon and welcome to SiTime's first-quarter 2021 financial results conference call. [Operator instructions] As a reminder, this conference call is being recorded today, Tuesday, May 4, 2021. I would now like to turn the call over to the Leanne Sievers of Selten Group Investor Relations. Leanne, please go ahead.

Leanne Sievers

Good afternoon. first-quarter results SiTime's call. to welcome XXXX conference financial And

Vashist, SiTime officer; officer. On from Rajesh chief financial the call chief are executive Chadwick, and Art

In from of the nor the or not occur company uncertainties, and statement. we discussed this differ forward-looking plans, statements discussion. could regarding those during future all assumes out company and company's factor areas results, the results risks, the predict accuracy call, to obligation statement. on for The to statements assess the the forward-looking of any position, or management I'd the adversely results the person It completeness tiny risks, light materially changes expected of to call to assumptions, company reason factors forward-looking during no after course strategy market, or may these financial and other the and anticipated forward-looking of not this any operations, the update Before that and may for publicly possible statements actual these of cause to any nor this responsibility events to conform for extent forward-looking impact make Neither contained those date may including actual company's all from begin, company future in like factors of which is call the business its point expectations. results any or can implied. to actual in undertakes materially differ of combination and the

accordance financial on Also call, expense. refer described with filings provided GAAP today performance. which results the substitute measures you [Audio difference only financial US a measure information GAAP in press financial These company in with between are stock-based with as well the for release to, GAAP. subsequent results. non-GAAP and to factors and as measures, financial of Please gap] non-GAAP risk to we compensation we February performance to the detailed in reconciliation business, to issued XXXX, associated refer risks superior on detailed SEC. certain prepared The refer non-GAAP this more XX, For measures our addition of will non-GAAP during between XX-K not and filed a as company the for our is

call So now, turn I'd Rajesh. go like to ahead. to the Please over

Rajesh Vashist

another afternoon, thank today's on for million of Thank to call. and with $XX.X revenues over than our several a tremendous report for Good the year growth and to you, representing was solutions. joining I'm XX% for quarter solid guidance, Leanne. you the of first of timing pleased There quarter quarter end increasing fourth coming reasons very see year off above growth. year-over-year SiTime's rates high strong to are due our order more

solely that semiconductor timing. we're is focused of company the First only all, on

in analog but few supported difficult we is systems-level and As clocks, to in only the oscillators packaging solve also problems. categories, the all that deep company developing mentioned MEMS a resonators, expertise algorithms. approach committed a higher-value have products to timing the use by that offer times, We timing and high-volume moreover,

applications, which this As applications, to bring Emerald, and of us. a in more communications the Endura that optical site In and such with of XX as the we modules a is is journey - these only them our of the of solved performed problem. this or in Elite, cells, and and specific remote well. trust very satellite than the placed recognizes secured each believe it example QX, is like start times Customers Emerald transponders XX this to than defense for An And line, value and in because designers such trust radio result, heads, during our applications, competitors. Elite Aerospace comms the we start we focus up that GPS, they GNSS, product products small better only as customers. chosen M communications, was XG, as device and the these

have understand what major we enables develop us customer's which we key the As products. we to do technical customers, roadmap, with call deep engagements better platform

timeframe As into and leaders a to hundred change requirements full-year that communications Primarily addressed where more about products, And we automotive platforms, lead more benefit we a and future shorter opportunities our prices deliver expanded five We over which offered already that to the of are pricing call release rapid IOT. applications next also five platforms we'd a strategy, specific be We've - to driven clocks strategy derivative by we three the derivatives infrastructure mobile over had, uncover cloud and higher-value stringent can in oscillators in modifications ago, times. plan of a applications existing expand lower-margin which simpler that we years. on XXXX the by and effort we'll technical to year our in reevaluated see had expect to decided and in that. business.

favor provide in current strongly and programmability chain product XX% SiTime's significant increased and supply lower example, to popular as fabulous differentiations. selling on to such and of which exchanges, continue costs products our ASP of other of an the as price product average As tight course, well improvements model XXXX XXXX, the by efforts are from products or ASP higher all one products, continue gross environment, in margin

many a chain to solutions. environments. SiTime's in percent the our more As their are have comfort than a us on chain in who programmable we of having reliant be are responsive recently also frequency non-overlapping hundred them supply help reminder, fixed competitors SiTime's taking can a course-based Customers from approached and products and are supply

customers in and rising selectively exceptional believe placing developing XX also we with multi-year Also, with the We are earlier. where have engaged commitments customers them. demand, provide orders of value we much key about anticipation

and us We and of and as using future, experience specifically technology, SiTime, higher chips precision, visibility first-quarter provider bookings In SiTime to fact, to gain our that were XXXX Art unprecedented parts high-value not gives pack the than we tremendously provide functionality. to now five in their of also years detail from can XXXX in timing, months in features our that and they with future benefits only as a the all age which golden to call more a which revenue. in are older longer-term expect believe XXXX. solutions quarter discuss timing of in for the SiTime's the half we have out more I smaller trend the and stand in believe growth customers at in opportunities were in QX, deliveries, and to that this resilience for outlook the and size, from tend and this connected for proliferate to more continue our semiconductor multi-year devices next the results a in with need more it to perspective, go leading looking into we turn of lives order few over I back entire of we key quartz at timing industry, XX features we opportunity devices the These as the that. second to other results higher believe even

Art Chadwick

Great. afternoon, for everyone. Thanks and good Rajesh,

XXXX. focus GAAP release results, reconciliation for and today's of to a results stock-based excludes payroll financial of financial XXXX provide and detailed well our on non-GAAP quarter refer of you results, discussion compensation some a description the my press and expense. first-quarter as discuss I'll results today I'll guidance which as second GAAP for So to related non-GAAP tax

which revenue $XX.X income over us. non-GAAP our $X.X as consumer including year communications broad-based the million, $XX.X we're had mobile quarter into net over and million, devices, great consists the growth up XX% same products sales which each sales growth, continued strong mobile XG was first IoT and industrial segments XX% and year. for in sales into expansion, Sales up networking revenue center aerospace, quarter automotive automotive, medical over phones, industrial and infrastructure, wireless up wearable data and of for includes segment, quarter and quarter for consists which with Rajesh $X.X segment, of strong We ago, quarter year-over-year year of year last into sales XX% consumer So into year. mentioned, year for in major same year our over was over aerospace sales ghost margin our military, market another XX% and and million, year enterprise, into growth up the a the revenue million,

Our customer largest accounted for sales. XX%

over non-GAAP comprised SG&A of sequentially, QX. XXX This were basis $X.X quarter expand from margins million quarter. operating more basis to same $X.X and XX Last than in million the of gross gross year, this $XX.X margins in continue million up points and R&D in $XX.X was were expenses XX.X% million up points, non-GAAP

we XX product as Non-GAAP up quarter, million grants stock-based million to we year. primarily more share, stock invest million from our in performance than the a product. As $X.X plan. and were quarter bonus in $X.X in compensation expanding and our continue to our cents invest employee or to quarter, portfolio. income due per R&D by last technology advancing loss million Stock-based compared same payroll XX% the related $X.X our and and taxes technology in fourth in to this $X.X expanding expense our new our was Continue advancing workforce net expanded

sold netting after and In $XXX financial sold event fees we million million shares, X.X Our at also X.X expenses. million, stock quarter offering. million stock and receivables of follow-on DSO the February, was liquidity which big of XX was QX. $XX.X $XX.X the at share, under increased MegaChips float this their Trade shares the stock per ownership days. million, reduced to of end were in public $XX.X the just at XX%. our million with Inventory from up and $XXX.X

some no million debt. this in cash just result, And of ended billion like now quarter production We and provide our cash flow, We added we to second I'd invested anticipation the million quarter in generated the equipment QX higher we offering. $X.XX in regards of $XXX.X $X.X flow a and cash over as $X.X guidance sales. ramped we million As from for in XXXX. to bank assets. operations. In positive from stock with quarter

high-performance the that significant for of all, to revenue year-over-year are First need trends continue growth. the drive solutions timing driving

Additionally, our we giving now orders which have customers up ever visibility us placing best had. Rajesh to in as advance, many the is mentioned, are of five XX months to

about the to and $XX that higher primarily markets. quarter, or be midpoint second we from quarter million, come XX% to XX% growth industrial Sequential than will At XX% the last comms, same would expect year. sequentially. increase For enterprise, sales

quarter While QX. sales be consumer will to IoT and QX to flat quarter, from mobile essentially into

will We expect to Operating at sequentially. XX expenses continued gross margin due increase an least expansion basis expanding of workforce. points

the $X.XX to total based investor shares. and to more basic non-GAAP on this getting which low, environmental, are days, The Stock-based $X.XX count relatively dilutive will be count which be quarter. now, stands expense rates be will expected $XX non-GAAP topic increase given, expected means the we million effect shares. employee like significant have shares, approximately in for is approximately XX.X and sequentially, $X.X I'd per of share. social, expected QX interest million. a XX.X interest QX share between second-quarter nominal slightly million expenses guidance XX% And will make balance expect comments. will additional is different and EPS X.X ESG, attention about Though And about approximately expect the a We be just our diluted is to be to million million. few we approximately these share On to will operating $XX,XXX for income and approximately compensation taking RSUs add governance, cash

heard, First of respected. of We better our work us environment We A diversity all, promote to decision-making. culture basic workforce creativity, the supports makes ensure an stronger. employees well valuing believe at principles. with employees by ESG valued, SiTime inclusive contributions very problem-solving all here and seen, and the aligns diverse and feel believe we

ensure products to it's We the our also impact to important believe a sustainable of environmental future. minimize and operations

corporate live are our consumption to our developing We encourage emissions and and and implementing sustainability carbon recently practices reduce enhance working of interested website, investors governance ESG We with policies visit. and went our to we energy to by water. and

working continues to workforce from well our perform So extremely in summary, home. while

that growing and large Our with product to differentiated portfolio products address continues expand markets.

a enviable great We call an sheet. to like now, an have And the of for We to operator Q&A. Tier the even for stronger will us. be back with X believe that, list turn and, year customers balance XXXX I'd

Operator

from the of [Operator Stifel. you're Svanberg? next Quinn line the And Bolton live. instructions] Tore comes question Your Svanberg Your comes of from Needham. Mr. with question first line with

Michelle Waller

is Hey, on Michelle guys. the Congrats great Quinn. for This on results.

any give can product. think if your first like Cascade that or customer reception a would my been year I'm of been whatnot? progress wins, relative your you're For an IC family you was what there launched, first terms solution or So I question, the since it's has us product just about making with to in wondering helpful. just expectations, design be on your clock color update

Rajesh Vashist

Sure.

our we have Unit, really in DU, our the for is the know, with market, You line particular, in front and been area, and great Distributed in guards switches. and product in communications mic and small also line business server cell, in And a Cascade the in enterprise. intended mid-haul Edge Cascade product smart hall the that doing

So the areas have Intel, we've we DASAN, are, Enterprise, Nokia, some that Xilinx, been these course, about Dell, customers. of with HP other these involved of Samsung some names the customers of in talked networks, of

out well go line where before, Because to products with for And emerging done as them. think we've with use work we products our I future And join companion to mentioned Cascade lines we've space customers. really as we immense other with product a approach fully we product. of our we and the come a product value as alternator and to that basically in forward. more that So expect that's get mini-subsystem

Michelle Waller

Thanks. And quick one for here's Art. All right. one just

were is. mention, think than revenues, maybe of higher, percentage half there that that annual revenues mentioned first the be of the we was last going I a normal to 'XX, quarter, probably

say just of is I'm outlook? half, sorry, points? you QX, you mind, if just you don't to you of So do And you clarify not or QX, If as being higher-than-normal look sequentially a margin the on the you see percentage to also, half out revenues, still, still do an I'm first there annual gross quickly did just that or expansion kind XX guidance, that. update wondering second basis could

Art Chadwick

Yeah.

So really margins And points At latter. the gross QX. great have on questions. over from QX expanded the basis our least to as I'll XX the I mentioned start Yes. call, dramatically year. also, last with

your QX Yes, over points a in think just in less repeat, our than answer gross seasonality this I expecting QX they year XXXX. question. up to we've other over past margins be that were of to seen were years. are Just And what ago true. year remains in XXX To basis we

we're year QX, be percentages, would going If you and guidance, year quarter high not years. XX% over it the look as in what I be up the up It's at over seeing was as in our year nice of saw less the the sales growth as year. will in not but same over at midpoint past growth year. expect was last to half we QX year, this back-end first that just year And QX, primarily the my QX be of loaded XX% very seasonality. because as in

Michelle Waller

And Got congrats it. That's for Thanks. me. OK. again. all

Rajesh Vashist

Yeah. Thanks.

Operator

comes from Thank Alex next question you. the The with William of line Blair. Vecchi

Jake Roberge

on Jake is great This quarter. the everyone. Congrats Hi, for Alex. on

increase is progress which wins, healthy the and design to what's view the throughout how from win are that through these XX Can us discussed the you walk keeping up versus you expecting year? competition you last XX So quarter. rates

Rajesh Vashist

the Etna Typically, at the product with have product we've well highest of a our the us, line, line. Elite helped Emerald as as line. Those Cascade announced product. product mean, maintained Endura, level, we have I and introduction Yeah. the traction it's new

been have product a in products new have for been while with products market while. a introductions in that - older older for So market the and traction that the

I've overall of wins in in second boost that times, maintained well shortage while, given I come as in but benefits, because is, situation past include result general a a and supply as and an of chain, chain also supply higher advantages expecting of certainly reliability, customers quality, in these all times performance, because business the on And of because semiconductor around our The has us specific design think, of timing many a these as tight side semiconductors and these that. pieces value proposition who in value of it. customers getting have the which we're our explained discovered

think, in some products we all market. conditions our bring in and the bear of a very specific that So it's timing combination I to all,

Jake Roberge

color. the the on Congrats quarter. for great again Thanks

Rajesh Vashist

Thanks. Great.

Operator

Raymond James. Chris with is next Caso Up

Chris Caso

evening. you're new a in pricing comments this prices if prices could remarks wins Thank the Good on the prepared and from little extent wonder to you. environment? your to get customers able customers? raising on expand design bit the made which perhaps higher function some you you a I the raise existing on you Are Is given to prices? of able

Rajesh Vashist

Yes.

last was time lower close some our of year more revenue this up We decided at thanks. look take it to did that and our very and year, levels. margin move that that we close looked of a to we So at started basically corporate and some

of them them space, some in were the in And of space. in the were the products of most some industrial these consumer so space, lower mobile

we think we coordinated to our were we the them retain as in a rolled value we out because our able able brought. had with way So very proposition that saw pricing I they to, customers, most of were

far the be newer corporate the premium they As that's center our discussed because This well. more products goes, most levels bringing and to of anyway automotive, our space, some business tend to of pricing networking, part. tend up data our higher particularly as be new of in as legacy enterprise, business we as a to was industrial, have

Chris Caso

All you. right. Thank

around Are As on would like your there you sound for it put opportunity are a follow-up, of you any a what extent you? constraints good do supply cap To to of foundry that which obviously, lot within manufacturing are a out. also revenue there farther constraints? the tend constraints bookings seeing network getting does and your product, the portion you're for use supply some analog

Rajesh Vashist

Yeah.

that that business the and by new ROS, because little not we extra of coming some suppliers is that think our TSMC in while it say juggle been is bit Bosch like revenue do and burden everybody. growth, tend timing impacting and well-served it haven't but put fair specific does there of get to good to has the continue any or this I and don't It that and our a relationships we operations and are feel think suppliers our a had curtail constraints the I tightness any that the curtailed we to business. is we've is which revenue that any the particularly on sales managing the need. but our is all with doesn't wafers pretty onerous operations in we fact our at TAM, to teams It of way, business because net it add anything significant. because point, the of we it's we

Chris Caso

it. Got you. Thank Very helpful.

Rajesh Vashist

Thanks, Chris. Great.

Operator

next Your the Barclays. question comes of from Blayne line with Curtis

Blayne Curtis

the the Hey, on Maybe If for growth. June then a obviously of with guys. taking pretty my is XX% flat, business and can from you're just help high just level, your congrats us great Thanks seeing sharp question quarter. you very sequential some guidance.

maybe You speak that or mentioned you've from and driving industrial, products segments. very kind the that it's because those comm, to could of you in what enterprise, a applications if acceleration are seen nice

Art Chadwick

Sure.

comms on that as sure have satisfy customers, diligently I'll one their enterprise had us we secure could don't were but needed our customer worked of in products. to challenged mentioned, get and customers make that comment comms supply very QX, enough or have make our Rajesh We So our constraints been on we to in what reduced parts have able ability QX some any what other we sufficient from they and of vendors one in their that QX. from not one to parts for actually

add So And enterprise. applications, kind in though very drive know areas and board the data don't that. in of board of expecting will it XG our uptick the it's quarter. from It's all QX kind a slightly Rajesh, And, center, from back up QX, if was QX across strong It's It of year our of come it's those that to across because pretty for that. the just see you'd strong QX. us. I we're to in it down like revenue was year, and over XX% basically second to comms in even enterprise comms to

Rajesh Vashist

it's little bit on on just continue alone was a for say the center the is side wins The we of million $XXX to about market space. switch design more going data lot to I server a find color. market, Yeah. us that or a in whether and side,

be earnings the us the as edge We also of that the design market the We've modules good switches, been a servers front and in far. mentioned for backhaul finally switches, for in a in and calls, that market wins so the find well growing. optical as very lot to before the previous have continue

Blayne Curtis

XX And they're nature agreements of I was I guess, guess, want then I are kind customers, it catalyst, customers? guess, just customers? of to in with just mentioned what's existing the multiyear curious about to one, multi-year I is supply that these you I key these and the here, the for agreements ask, switching then these kind or of worried

Rajesh Vashist

Yeah.

on I them to than these not came us, we clearly of been wouldn't happen. buy think we for are of diligent are started the fact us in supply. carefully They to had looking accelerated XX at but us providing was fact, tightness coming doing lot at that be tightness us that. when some more a they who where a and where pipeline so those we pretty got it and panic a think we in and supply they or trying were I to because to the in then was were of basis products customer from actually value some customers talking new And long-term someone saw looked into this

seeing more as the is our of belief which is that customers were kind chain events, them, quality very semiconductor-based have benefits performance, the months in those second come and their monolithic robust part for lot quartz diversifying in recent us the this and reliability. mention with mentioned have people or The to away from is not evident to supply chain is not the to to evident days, which recent some who recent evenly and course the MEMS and who between now are of past, divided that has that supply a we is increasingly and resilient, of that before points have more become choke much we

factors, I've these to yes, leave SiTime and once they they never be. almost we mentioned think it's come so as to unless place I are the before, a almost they SiTime never So leave great - SiTime,

Blayne Curtis

for just was Is it's just with I maybe why on then you're And and OpEx, coming commensurate rest Art. curious the investing year? up of of particular any of bringing you're there about And guess finally up? the areas revenues. it kind I in, that's kind that way to think the

Art Chadwick

Yeah.

we up but growing been stepping still our OpEx, substantially. So to pretty that's our because We're keeping has very been have revenue much model.

guide my year. example, revenue guide and over would up be it I'd know, year XX% be up You over for calculate year would year my XX% QX, OpEx for

our of growth than with our that's We've rate, into into and top-line we well that's hired group, of a kind systems R&D. number folks in and less my our as MEMS group discussion, folks higher but board We're hiring in into my top-line mentioned the of a half primarily are growth, So a analog hiring. R&D, across of the of in number I group. folks number

investing I - know pay our technology, improving off we going heavily, improve we're don't our this and portfolio. Rajesh technology, if product expanding will more And So to forward by think and continuing much our

Rajesh Vashist

Yeah. And and mentioned to we specifically, platforms XXX very intend databases that offer. the I

of times because and we the see. growth that previous I a think boost given in recent we successes the have opportunities than certainly and that significant

Blayne Curtis

Thanks. Great.

Rajesh Vashist

Blayne. Thanks,

Operator

Svanberg Stifel. of the question with Tore next comes from Your line

Tore Svanberg

How Thank their for dealing lead could the and probably inventories programmability extended also design you. now the My another you Yes. their my right quarter. before. you is if factor increase that their they're first manage So helping programmability. district help obviously, question resilience bit apologize technical issues on times some you is your very Congrats yes, now. is on customers because, little wins own your company? how about reliance, great get right more I from in a chains supply helping with talk

Rajesh Vashist

Yeah.

is on. couple there's of a as course, have they tightness customers that the going things of the can't One much. and So get supply, so of

together product. have they an supply. comes have which product words, have In suddenly then of and thing second they The that not is may other they unpredictability

times, get specifically think X has to a more customers, product. this to these very in use urgently availability and in tend the they to So of need when they expecting with some another to of they because were product, programmability is our frequency the help or started product

now an of frequency. example they programmability. product It's our so wanted to And be wide of

I So way one think that's it. to do

is lead second of tend normally particularly they we spite in even timing advantage. of time fact are longer that lead level go The lead products, that still of find times relatively Customers still we've other our as area have. to at times, in general, courts of than the out in the that reasonable a increased

them. they much so that naturally to And tend to gravitate because of supply for it's a more reliable source

two these programmability I us ways. good in in think So stands our stead that

Tore Svanberg

my did a use trying sort the pricing it with bit for you one you just the elaborate more legacy mean, of understand product customers? increase I little And there. to just the rationale more Just could follow-up, Great. as on see cases for family?

Rajesh Vashist

Yes.

we've in premium talked chain supply and value the a is our you know, at and being therefore So that, priced vendor being past a premium products level. about basically, what exceptional as happened delivering

margin to also that it gross make that performance. sense at is revenue We that But products differentiated we products you what think this happen it did for find have than which was as legacy, to is deserve. we did any necessarily significantly have said, our from of other time what lower coming not from, us tightness, are the across

in of stayed by fact, appreciation with and the them contracts year most positive out them some given we long-term of they our And our it. response support support with at think customers us we customers and that. went the through large, ability as in build us. past we relationships started of to actually, So future by as increasing And because the prices their last the well where long-term it discovered warranted showed the in was year, we've pretty signing this with

Tore Svanberg

you Great and color. congrats Thank again.

Rajesh Vashist

Great. Thanks.

Art Chadwick

Thank you.

Operator

of line the John Your with comes Pitzer question from Credit Suisse. next

John Pitzer

questions. afternoon. back We're Good to letting comments on to solid just, me around the the Thanks results. go ask I'd your like prepared for Yeah. Congratulations bookings.

heard half about say you duration somewhere a visibility. of think the hoping now, is as year bookings it I just bookings of XX normal five context think pattern for you looks the how I in to around visibility, between look could months much tight what some reflection find of good you company-specific unfolds. I maybe put as this you. kind ourselves or your And that was pretty a sort kind in supply of improved implying of about of that environment the is we much demand just how drivers good

Rajesh Vashist

Yeah.

welcome, So John.

we find that going there's in two the So things past, on.

answer to typical in for what and to half year a have our has isn't is that the two products reasons. be us enterprise. the is as much tended and which last higher-end, more and, for So been One means clear communications

tightness of maybe for believe going XX in I a half, this that and to a continue that say were, maybe and So now I the overlay is, macro while, is in on, trend years. guess because that they're more this the and timing a the three out then deliveries going would there's to event, though, for eight that tightness while, months particular like our to say I future. two which months with just believe overall, future, trend again, supply five I continue year and the out were would and to tightness a supply. a the will

because I products to think those be come longer-term, are and that those that also should unlikely issues that longer, believe to chain be away. continue to tend even our of customers that finally supply us go to higher-value. And I

be expect don't have this maintain to future. visibility would So I that remains data it into kind the on would we say I that though forward I would, going we just seen, of this. even

John Pitzer

the drove And And customer answered largest that to my sequential quarter, differentiate you reason helpful. in this, sequentially, a us customer Art, good ask curious you why guided in margin I look what customer be saw and helpful I doing might growth can That's March? I'd had then between what that you flat pretty maybe mobile exclude with March, when other? regret to IoT, the and you you is got know And strength and question, probably sense of guys were close you and consumer to going you number. The kind that? the largest to give follow-up, of the you're like last in customer business. really as extra-large largest enough

Art Chadwick

Yes.

our I customer So somewhere expect XX% in less of will revenue. some be on I largest than can that. color offer QX

means. to that don't largest let that's XX% see QX, which add me customer our that. is IOT from want to by nice customer our QX And that should people from any growth in comment consumer away means very some a I our QX. just going X, down So thinking largest

to that as year nicely past in customer We the to very has increase it expect the years. of sales in half back

John Pitzer

Perfect. Thank you.

Art Chadwick

Sure.

Operator

from comes the question next The Desilva line with Capital. Suji ROTH of

Suji Desilva

significant lead Hi, land Rajesh. on up follow just all the here, equally? the talk extension that some extended question. the thinking are there you times Or the Hi, particularly on time lead markets? versus Art. and Congratulations segments and to of are across about others applies Can guys the progress

Rajesh Vashist

think tight. yeah, they're pretty just very I all They're different. think, I that

I think pretty tight. the segment consumer is

is would kind arrow, I is it's few that's And so tight still particularly the hard IoT I it tight pretty segment such surprised centers headlines male tight. the the pretty not one but no that But of data say across enterprise The all very coms robustly. know, has continues business you tight, made in the sort of the but to it's - think automotive, a months. automotive cranking a as is it's pretty board. away probably past tell,

Suji Desilva

XG affecting then OK. or seen be as about the IoT, the Any you, have push-outs color or pauses helpful. there are in to side, bills you globally, talked the lot not build-outs you the new, they're a Thanks. So perhaps infrastructure and you consumer cycles? the you. but product it's And would impactful in

Rajesh Vashist

Yeah.

of it's it's say been when XG, really more communications, I not that with, think XG loosely use portion really because we say XG steady. is big it. though about that we Remember when even is a comms, sometimes we

get So the the centers. isn't roll-out anything data in but we the it's steady do in roll-out particularly that core pretty I a would which and spiky a mid-haul everything say yet, else it is

evenly pretty So all our for products. of that for spread it's all

Suji Desilva

Thanks. very That's OK. helpful.

Rajesh Vashist

Sure. Thanks.

Operator

questions. further no are there And

So over closing now call back I for will any Art turn Chadwick the remarks. to Mr.

Art Chadwick

our that of much everyone. us concludes everybody sport on appreciate pretty again, you you. joining all this I thank thank to your Well, conference have today. Thanks call We want for hope call. Great, we and great a day.

Rajesh Vashist

Thank you.

SiTime (SITM) 10 May 212021 Q1 Earnings call transcript