SiTime Corporation (NASDAQ:SITM) Q1 2024 Earnings Conference Call May 8, 2024 5:00 PM ET

Company Participants

Brett Perry - Shelton Group IR
Rajesh Vashist - CEO
Beth Howe - CFO

Conference Call Participants

Tore Svanberg - Stifel
Quinn Bolton - Needham & Company
Suji Desilva - Roth MKM
Chris Caso - Wolfe Research

Operator

Good day and thank you standing by. Welcome to SiTime's First Quarter Earnings Call and Webcast. At this time, all participants are in a listen-only mode. After the speakers’ presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised today’s conference is being recorded.

I would now like to turn the conference over to your speaker today, Brett Perry with Shelton Group Investor Relations. Brett, please go ahead.

Brett Perry

Thank you, Kevin. Good afternoon, and welcome to SiTime's first quarter 2024 financial results conference call. Joining us on today's call from SiTime are Rajesh Vashist, Chief Executive Officer; and Beth Howe, Chief Financial Officer.

Before we begin, I'd like to point out that during the course of this call, the company may make forward-looking statements regarding expected future results, including financial position, strategy and plans, future operations, the timing market and other areas of discussion. It's not possible for the company's management to predict all risks nor can the company assess the impact of all factors on its business or the extent to which any factor or combination of factors may cause actual results to differ materially from those contained in any forward-looking statements.

In light of these risks, uncertainties and assumptions, the forward-looking events discussed during this call may not occur and actual results could differ materially and adversely from those anticipated or implied. Neither the company, nor any person assumes responsibility for the accuracy and completeness of forward-looking statements. The company undertakes no obligation to publicly update forward-looking statements for any reason after the date of this call to conform statements to actual results or to changes in the company's expectations. For more detailed information on risks associated with the business, we refer you to the risk factors described in the 10-K filed on February 26, 2024, as well as the company's subsequent filings with the SEC.

During the call, we'll refer to certain non-GAAP financial measures, which are considered to be an important measure of company performance. These non-GAAP financial measures are provided in addition to and not as a substitute for or superior to measures of financial performance prepared in accordance with U.S. GAAP. The GAAP to non-GAAP reconciliation includes stock-based compensation as well as acquisition related items related to amortization of intangible assets, one-time acquisition related charges and expenses or income related to changes in the estimated fair value measurement of acquisition consideration payable and sales based earnout liabilities. Please refer to the company's press release issued today for a detailed reconciliation between GAAP and non-GAAP financial results.