SITIME Corp
For the period ended Dec 31, 2023. Filed Feb 26, 2024.
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FY2023 · Filed Feb 26, 2024
SITM$444.45-2.8%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows
(In thousands)
| Year Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Cash flows from operating activities: | |||
| Net income (loss) | $(80,535) | $23,254 | $32,277 |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities | |||
| Depreciation and amortization expense | 16,128 | 11,843 | 7,926 |
| Stock-based compensation expense | 76,753 | 57,415 | 29,992 |
| Net change in unrealized interest on held to maturity securities | (3,829) | (5,055) | — |
| Change in fair value of sales based earnout liability | 1,183 | — | — |
| Change in fair value of acquisition consideration payable | 710 | — | — |
| Inventory write-down | 1,997 | 2,972 | 1,817 |
| Other, net | (23) | 358 | 117 |
| Changes in assets and liabilities: | |||
| Accounts receivable, net | 19,368 | (2,853) | (14,456) |
| Related party accounts receivable | — | — | 736 |
| Inventories | (9,886) | (36,992) | (13,096) |
| Prepaid expenses and other assets | (6,116) | (7,460) | (1,859) |
| Accounts payable | (5,706) | 2,468 | 5,826 |
| Accrued expenses and other liabilities | (1,988) | (6,198) | 9,798 |
| Net cash provided by operating activities | 8,056 | 39,752 | 59,078 |
| Cash flows from investing activities | |||
| Purchase of held to maturity securities | (1,046,407) | (673,370) | — |
| Proceeds from maturity of held to maturity securities | 1,060,996 | 148,931 | — |
| Acquisition of business | (39,000) | — | — |
| Purchase of property and equipment | (8,945) | (31,793) | (30,878) |
| Cash paid for intangibles | (3,304) | (3,856) | (2,910) |
| Net cash used in investing activities | (36,660) | (560,088) | (33,788) |
| Cash flows from financing activities | |||
| Tax withholding paid on behalf of employees for net share settlement | (41,346) | (37,552) | — |
| Proceeds from public offering | 46,025 | 33,977 | 461,264 |
| Payments for offering costs | (1,210) | (947) | (618) |
| Net cash provided by (used in) financing activities | 3,469 | (4,522) | 460,646 |
| Net increase (decrease) in cash and cash equivalents | (25,135) | (524,858) | 485,936 |
| Cash and cash equivalents | |||
| Beginning of period | 34,603 | 559,461 | 73,525 |
| End of period | $9,468 | $34,603 | $559,461 |
| Supplemental disclosure of cash flow information | |||
| Income taxes paid | 199 | 58 | 24 |
| Supplemental disclosure of noncash flow information | |||
| Unpaid property and equipment | 866 | 747 | 1,437 |
| Unpaid intangibles, net | — | 606 | 3,178 |
| Right-of-use assets acquired under operating leases | — | 4,761 | 689 |
| Settlement of pre-existing arrangement in connection with acquisition | 9,974 | — | — |
| Acquisition consideration payable at acquisition date | 107,947 | — | — |
| Fair value of sales based earnout liability at acquisition date | 102,278 | — | — |
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