0001564590-21-005867 | 10-K | XBRL Viewer

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Document And Entity Information - USD ($) $ in Thousands	12 Months Ended
Document And Entity Information - USD ($) $ in Thousands	Dec. 31, 2020	Feb. 10, 2021	Jun. 30, 2020
Cover [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Entity Registrant Name	SiTime Corporation
Entity Central Index Key	0001451809
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Interactive Data Current	Yes
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Well-known Seasoned Issuer	Yes
Entity Public Float			$ 431,489,077
Entity Common Stock Shares Outstanding		17,150,278
Entity Shell Company	false
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	true
Title of 12(b) Security	Common Stock, $0.0001 par value per share
Trading Symbol	SITM
Security Exchange Name	NASDAQ
Entity File Number	001-39135
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	02-0713868
Entity Address, Address Line One	5451 Patrick Henry Drive
Entity Address, City or Town	Santa Clara
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	95054
City Area Code	408
Local Phone Number	328-4400
Document Annual Report	true
Document Transition Report	false
Documents Incorporated by Reference	DOCUMENTS INCORPORATED BY REFERENCE Part III incorporates by reference certain information from the registrant’s definitive proxy statement for the 2021 Annual Meeting of Stockholders to be filed no later than 120 days after the conclusion of the registrant’s fiscal year ended December 31, 2020.

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 73,525	$ 63,418
Accounts receivable, net	23,920	17,659
Related party accounts receivable	736	1,073
Inventories	12,350	11,911
Prepaid expenses and other current assets	2,649	5,601
Total current assets	113,180	99,662
Property and equipment, net	11,708	9,288
Intangible assets, net	2,069	4,489
Right-of-use assets, net	8,892	9,790
Other assets	162	162
Total assets	136,011	123,391
Current liabilities:
Accounts payable	6,182	3,869
Accrued expenses and other current liabilities	12,963	8,442
Loan obligations		41,000
Total current liabilities	19,145	53,311
Lease liabilities	6,986	7,940
Total liabilities	26,131	61,251
Commitments and contingencies (Note 6)
Stockholders’ equity:
Common stock, $0.0001 par value - 200,000 shares authorized; 17,150 and 14,968 shares issued and outstanding at December 31, 2020 and December 31, 2019	2	2
Additional paid-in capital	173,274	116,162
Accumulated deficit	(63,396)	(54,024)
Total stockholders’ equity	109,880	62,140
Total liabilities and stockholders’ equity	$ 136,011	$ 123,391

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2020	Dec. 31, 2019
Statement Of Financial Position [Abstract]
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares, issued	17,150,000	14,968,000
Common stock, shares, outstanding	17,150,000	14,968,000

Consolidated Statements of Operations and Comprehensive Loss - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Income Statement [Abstract]
Revenue	$ 116,156	$ 84,074
Cost of revenue	58,224	44,516
Gross profit	57,932	39,558
Operating expenses:
Research and development	31,652	23,795
Selling, general and administrative	34,893	20,636
Total operating expenses	66,545	44,431
Loss from operations	(8,613)	(4,873)
Interest expense	(726)	(1,714)
Other expense, net	(32)	(28)
Loss before income taxes	(9,371)	(6,615)
Income tax (expense) benefit	(1)	8
Net loss	(9,372)	(6,607)
Net loss attributable to common stockholder and comprehensive loss	$ (9,372)	$ (6,607)
Net loss per share attributable to common stockholder, basic and diluted	$ (0.58)	$ (0.63)
Weighted-average shares used to compute basic and diluted net loss per share	16,064	10,558

Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Initial Public Offering [Member]	Common Stock	Common Stock Initial Public Offering [Member]	Additional Paid-in Capital	Additional Paid-in Capital Initial Public Offering [Member]	Accumulated Deficit
Beginning Balance at Dec. 31, 2018	$ 11,015		$ 1		$ 58,431		$ (47,417)
Beginning Balance, Shares at Dec. 31, 2018			10,000,000
Stock-based compensation expense	1,379				1,379
Net loss	(6,607)						(6,607)
Issuance of common stock net of underwriting discounts and commissions and other offering costs		$ 56,353		$ 1		$ 56,352
Issuance of common stock upon net of underwriting discounts and commissions and other offerings costs, Shares				4,945,000
Issuance of shares upon vesting of restricted stock units, net of tax withholdings, Shares			23,000
Ending Balance at Dec. 31, 2019	$ 62,140		$ 2		116,162		(54,024)
Ending Balance, Shares at Dec. 31, 2019	14,968,000		14,968,000
Stock-based compensation expense	$ 14,816				14,816
Net loss	(9,372)						(9,372)
Issuance of common stock net of underwriting discounts and commissions and other offering costs	45,789				45,789
Issuance of common stock upon net of underwriting discounts and commissions and other offerings costs, Shares			1,525,000
Issuance of shares upon vesting of restricted stock units, net of tax withholdings	(3,493)				(3,493)
Issuance of shares upon vesting of restricted stock units, net of tax withholdings, Shares			657,000
Ending Balance at Dec. 31, 2020	$ 109,880		$ 2		$ 173,274		$ (63,396)
Ending Balance, Shares at Dec. 31, 2020	17,150,000		17,150,000

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

- Definition

Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.

+ References + Details

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Cash flows from operating activities:
Net loss	$ (9,372)	$ (6,607)
Adjustments to reconcile net loss to net cash provided by operating activities
Depreciation and amortization expense	6,402	8,273
Stock-based compensation expense	16,009	1,379
Inventory write-down	1,446	321
Impairment of internal-use software	959
Other	106	9
Changes in assets and liabilities:
Accounts receivable, net	(6,261)	1,521
Related party accounts receivable	337	363
Inventories	(2,070)	8,144
Prepaid expenses and other assets	2,951	(3,145)
Accounts payable	2,606	(1,148)
Accrued expenses and other liabilities	4,151	(919)
Lease liabilities	(660)	(813)
Net cash provided by operating activities	16,604	7,378
Cash flows from investing activities
Purchase of property and equipment	(6,098)	(1,426)
Cash paid for intangibles	(1,695)	(1,776)
Net cash used in investing activities	(7,793)	(3,202)
Cash flows from financing activities
Proceeds from public offering, net of underwriting discounts and commissions and other offering costs	45,789	56,353
Tax withholding paid on behalf of employees for net share settlement	(3,493)
Proceeds from loans from financial institutions	35,000
Principal payments on loans to financial institutions	(76,000)	(2,000)
Principal payments on loan to MegaChips		(3,000)
Net cash provided by financing activities	1,296	51,353
Net increase in cash and cash equivalents	10,107	55,529
Cash and cash equivalents
Beginning of period	63,418	7,889
End of period	73,525	63,418
Supplemental disclosure of cash flow information
Interest paid during the period	799	2,167
Income taxes paid	1	1
Supplemental disclosure of noncash flow information
Unpaid property and equipment	343	77
Right-of-use assets acquired under operating leases	$ 382	$ 10,763

The Company and Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2020

Accounting Policies [Abstract]

The Company and Summary of Significant Accounting Policies

1. The Company and Summary of Significant Accounting Policies

SiTime Corporation (the “Company”) was incorporated in the State of Delaware in December 2003. The Company is a provider of silicon timing systems. The Company primarily supplies oscillator products that comprise a MEMS resonator and clock IC that is integrated into a package, as well as standalone resonators. The Company has also started to sample clock ICs. The Company’s products are designed to address a wide range of applications across a broad array of end markets. The Company operates a fabless business model and leverages its global network of distributors and resellers to address the broad set of end markets that it serves. The Company was a wholly-owned subsidiary of MegaChips Corporation (“MegaChips”), a fabless semiconductor company based in Japan and traded on the Tokyo Stock Exchange until it completed its initial public offering in November 2019. MegaChips remains the largest stockholder of the Company and held approximately 43.7% of the Company’s outstanding common stock as of December 31, 2020.

Outbreak of Coronavirus Disease 2019 (“the COVID-19 pandemic”)

On March 11, 2020, the World Health Organization characterized the outbreak of the coronavirus disease known as COVID-19 as a global pandemic and recommended containment and mitigation measures. On March 13, 2020, the United States declared a national emergency concerning the outbreak, and several states and municipalities have declared public health emergencies. To combat the spread of the COVID-19 pandemic, the United States and other foreign countries in which the Company operates have imposed measures such as quarantines and “shelter-in-place” orders that are restricting business operations and travel and requiring individuals to work from home (“WFH”), which has impacted all aspects of the Company’s business as well as those of the third-parties we rely upon for our manufacturing, assembly, testing, shipping and other operations.

The global health crisis caused by the COVID-19 pandemic has negatively impacted business activity across the globe and has impacted the Company's employees and operations. The inputs into the Company’s judgments and estimates consider the economic implications of the COVID-19 pandemic, as the Company knows them, on the Company’s critical and significant accounting estimates. The extent to which the COVID-19 pandemic may impact the Company’s business will depend on future developments, which are highly uncertain, including the future effects of the COVID-19 pandemic on its employees, customers, suppliers, results of operations, financial condition, or liquidity for fiscal year 2021.

Reporting Calendar

The Company’s fiscal year begins on January 1 of the year stated and ends on December 31 of the same year. The Company reports its results on a calendar year basis.

Principles of Consolidation

The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All intercompany transactions and balances have been eliminated in consolidation.

Initial and Follow-on Public Offerings

On November 25, 2019, the Company completed its initial public offering (“IPO”), in which it issued and sold 4,945,000 shares of its common stock including the full exercise of the underwriters’ over-allotment option to purchase an additional 645,000 shares at $13.00 per share, resulting in net proceeds of $56.4 million after deducting underwriting discounts, commissions and offering costs of $7.9 million.

On June 16, 2020, the Company completed a follow-on public offering (“June 2020 Offering), in which it issued and sold 1,525,000 shares of its common stock and MegaChips sold 2,500,000 of its common stock held by them, resulting in net proceeds to the Company of $45.8 million after deducting underwriting discounts and commissions of $2.7 million and deferred offering costs of $0.3 million.

Stock Split

On October 16, 2019, a pricing committee of the Company’s board of directors approved an amendment and restatement of the Company’s certificate of incorporation to (i) increase the total number of authorized shares of its common stock to 200,000,000 shares, (ii) change the par value of its common stock to $0.0001 per share, and (iii) effect a 30,000-for-1 stock split of its common stock, which was within the range previously approved by its sole stockholder. These changes became effective upon filing of the Company’s amended and restated certificate of incorporation on October 18, 2019. Subsequently, on November 6, 2019, the Company’s board of directors and sole stockholder approved an amendment and restatement of the Company’s certificate of incorporation to effect a 2-for-3 reverse stock split of its common stock, which became effective on November 6, 2019. The share and per share amounts in these consolidated financial statements and accompanying notes have been adjusted to reflect such stock split and reverse stock split.

Use of Estimates

The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. The significant areas requiring the use of management estimates and assumptions include revenue recognition, estimate of reserve for excess and obsolete inventories, sales and warranty reserves, estimate of reserves for accounts receivable, internally developed software capitalization, and valuation allowances for deferred tax assets. Actual results may differ materially from such estimates. Management believes that the estimates, and judgments upon which they rely, are reasonable based upon information available to them at the time that these estimates and judgments are made. To the extent that there are material differences between these estimates and actual results, the Company’s consolidated financial statements will be affected.

Foreign Currency Remeasurement

The Company and its wholly-owned subsidiaries use the U.S. dollar as the functional currency. Foreign currency assets and liabilities are remeasured into U.S. dollars at the end-of-period exchange rates except for non-monetary assets and liabilities, which are measured at historical exchange rates. Revenue and expenses are remeasured using an average exchange rate in effect for the period, except for items related to non-monetary assets and liabilities, which are measured at historical exchange rates. Gains or losses from foreign currency remeasurement and transactions are included in other expense, net. For the years ended December 31, 2020 and 2019, foreign currency remeasurement and transactions gains and losses were less than $0.2 million.

Cash and Cash Equivalents

Cash and cash equivalents consist of cash balances in the Company’s bank checking and savings accounts and liquid short-term investments with original or remaining maturities of 90 days or less at the date of purchase, readily convertible to known amounts of cash.

Fair Value Measurements

The carrying amounts of the Company’s financial instruments, which include cash equivalents, accounts receivable, accounts payable, accrued liabilities, and other current liabilities, approximate their fair values due to their short maturities. The Company determines fair value measurements used in its consolidated financial statements based upon the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value hierarchy distinguishes between (i) market participant assumptions developed based on market data obtained from independent sources (observable inputs), and (ii) an entity’s own assumptions about market participant assumptions developed based on the best information available in the circumstances (unobservable inputs).

The fair value hierarchy consists of three broad levels, which gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The three levels of the fair value hierarchy are described below:

Level 1: Valuations based on quoted prices in active markets for identical assets or liabilities that the entity has the ability to access.

Level 2: Valuations based on quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable data for substantially the full term of the assets or liabilities.

Level 3: Valuations based on inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.

At December 31, 2020 and 2019, cash balances in bank checking and savings accounts of $18.4 million and $28.4 million, were valued using Level 1 of the fair value hierarchy. At December 31, 2020 and December 31, 2019, highly liquid money market funds of $55.1 million and $35.0 million, respectively, were valued using Level 1, of the fair value hierarchy, quoted prices in active markets for identical assets and are included in cash equivalents.

There were no transfers between Level 1 and Level 2 categories during any of the periods presented.

Accounts Receivable and Allowances for Credit Losses

Accounts receivable are stated at amounts estimated by management to be net realizable value. An allowance for credit losses is recorded when it is probable that amounts will not be collected based on historical collection trends, age of outstanding receivables, specific customer circumstances, existing economic conditions and future forecasted information. The Company performs periodic credit evaluations of its customers’ financial condition and generally requires no collateral from its customers. Losses have not been significant in any of the periods presented.

Concentration of Credit Risk

Financial instruments that potentially subject the Company to significant concentrations of credit risk consist principally of cash and cash equivalents and accounts receivable. The Company’s cash and cash equivalents amount is subject to concentration of credit risk. The Company maintains some cash and cash equivalents balances that are in excess of Federal Deposit Insurance Corporation insurance limits with financial institutions.

The Company extends credit based on an evaluation of the customer’s financial condition and collateral is not typically required. The Company primarily sells its products through third-party distributors and resellers. For the years ended December 31, 2020 and 2019, three distributors directly accounted for 10% or more of the Company’s revenue.

The following table discloses these customers’ percentage of revenue for the respective periods:

	Year Ended December 31,
	2020			2019
Customer
Pernas Electronics Co. Ltd.		26	%		17	%
Quantek Technology Corporation		18			22
Arrow Electronics, Inc.		15			19

At December 31, 2020 and 2019, three customers accounted for 10% or more of accounts receivable, as disclosed below:

	As of December 31,
	2020			2019
Customer
Pernas Electronics Co. Ltd.		31	%		12	%
Quantek Technology Corporation		22			32
Arrow Electronics, Inc.		18			26

Inventories

Inventories are stated at the lower of standard cost (which approximates actual cost on a first-in, first-out basis) or net realizable value. The Company, at least quarterly, assesses the recoverability of all inventories to determine whether adjustments are required to record inventory at the lower of cost or net realizable value. The Company reduces the value of inventory by establishing excess and obsolete inventories reserves based on management’s assessment of future demand and market conditions and may require estimates that may include uncertain elements. Actual demand may differ from forecasted demand and such differences may have a material effect on recorded value of inventory. Inventory reserve write-downs, once established, are not released until the related inventory has been sold or scrapped. Rebates from the Company’s foundries are recorded as a reduction of inventory cost and are recognized in cost of revenue over the inventory turnover days of the Company. Most of the Company’s inventory is warehoused at its contract manufacturers.

Property and Equipment

Property and equipment are recorded at cost, less accumulated depreciation. Depreciation of property and equipment is recognized on a straight-line basis over the estimated useful lives of the respective assets as follows:

Lab and manufacturing equipment		3 to 5 years
Computer equipment		3 years
Furniture and fixtures		5 years
Leasehold improvements		Shorter of remaining lease term or estimated useful lives of the assets

The Company capitalizes the costs of purchased mask sets that are utilized during the photolithography phase of manufacturing our products, when technological feasibility and marketability have been established. The capitalization occurs upon the completion of a detailed design, the absence of significant development uncertainties and the determination of market acceptance. Such amounts are included in property and equipment in the consolidated balance sheets and are amortized to cost of revenue over their estimated useful life of 5 years. However, if significant uncertainties exist regarding the future utility of a particular mask set, then its related costs are expensed to research and development at the time the significant uncertainties are identified.

Maintenance and repair costs are charged to expense as incurred, and expenditures that extend the useful lives of assets are capitalized. Upon retirement or sale of the property and equipment, the cost and related accumulated depreciation are removed from the balance sheet and the resulting gain or loss is recorded in other expense, net.

Intangible Assets

Intangible assets include the costs related to acquired software as well as costs related to software internally developed, or modified solely to meet the Company’s internal requirements, with no substantive plans to market such software at the time of development. The Company develops proprietary design automation software for its MEMS-based resonators. Costs incurred during the preliminary planning and evaluation stage of the project and during post implementation operational stage are expensed as incurred. Costs incurred during the application development stage of the software are capitalized. The Company defines the configuration and coding process as the application development stage. Capitalized internal use software costs are amortized, on a straight-line basis under cost of revenue over the estimated useful life of approximately 2 to 3 years. Purchased intangibles with finite lives are amortized using the straight-line method over the estimated economic lives of the assets of 3 years.

Leases

The Company applies the guidance in Accounting Standards Codification (“ASC”), Topic 842 to individual leases of assets. The Company recognizes a transaction as a lease when it receives substantially all of the economic benefits from and directs the use of specified property, plant and equipment.

Operating leases are included in right-of-use (“ROU”), assets, accrued expenses and other current liabilities, and lease liabilities in the Company’s consolidated balance sheets. ROU assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the present value of the Company’s obligation to make lease payments arising from the lease. The Company currently does not have any finance leases.

The Company has elected the practical expedient within ASC Topic 842 to not separate lease and non-lease components within lease transactions for all classes of assets. Additionally, the Company has elected the short-term lease exception for all classes of assets and does not apply the recognition requirements for leases of 12 months or less and recognizes lease payments for short-term leases as expense either straight-line over the lease term or as incurred depending on whether the lease payments are fixed or variable. These elections are applied consistently for all leases.

When discount rates implicit in leases cannot be readily determined, the Company uses the applicable incremental borrowing rate at lease commencement to perform lease classification tests on lease components and to measure ROU assets and lease liabilities. The incremental borrowing rate used by the Company was based on the rate of interest that the Company would have to pay to borrow on a collateralized basis over a similar term, an amount equal to the lease payments in a similar economic environment.

Impairment of Long-Lived Assets

The Company evaluates its long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to future undiscounted net cash flows expected to be generated by the asset. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets exceeds the estimated fair value of the assets.

The Company determined that no events or changes in circumstances indicate that impairment of its long-lived assets has occurred.

Warranty

The Company provides limited lifetime warranty coverage on all of its products by guaranteeing that all timing components from the Company will be free from defects in workmanship and materials and will conform to specifications for the life of the system. This assurance-type warranty is not considered a separate performance obligation, and thus no transaction price is allocated to it. The Company records the warranty costs in cost of revenue in the consolidated statements of operations and comprehensive income (loss). The warranty reserve is calculated using historical claim information to project future warranty claims activity and is recorded within accrued expenses and other current liabilities and other long-term liabilities on the consolidated balance sheets based on the expected timing of the related payments. To date, the Company has had negligible returns of any defective products, and hence the warranty reserve balances as of December 31, 2020 and 2019 were less than $0.1 million.

Income Taxes

Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the carrying amounts in the consolidated financial statements of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards, using enacted tax rates in effect for the year in which the differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in earnings in the period that includes the enactment date. A valuation allowance is provided in order to reduce the deferred tax assets to a level which, more likely than not, will be realized.

The Tax Cuts and Jobs Act of 2017 (the “Tax Act”) and The Coronavirus Aid, Relief, and Economic Security (“CARES Act”) , makes broad and complex changes to the U.S. tax code. These computations require significant judgments and estimates to be made regarding the interpretation of the provisions within the Tax Act along with the preparation and analysis of information not previously required.

While the Company believes it has adequately reserved for its uncertain tax positions, no assurance can be given that the final tax outcome of these matters will not be different. The Company adjusts these reserves in light of changing facts and circumstances, such as the closing of a tax audit. To the extent that the final tax outcome of these matters is different than the amounts recorded, such differences will impact the provision for income taxes and the effective tax rate in the period in which such determination is made.

The Company recognizes tax positions in the consolidated financial statements only when it is more likely than not that the position will be sustained upon examination by the relevant taxing authority. Liabilities are established for differences between positions taken in a tax return and amounts recognized in the consolidated financial statements. The Company reports interest and penalties related to uncertain tax positions, if any, in the provision for income taxes in the consolidated statements of operations and comprehensive income (loss). To the extent that accrued interest and penalties do not ultimately become payable, amounts accrued will be reduced and reflected as a reduction of the overall provision for income taxes in the period that such determination is made.

Revenue Recognition

The Company derives revenue from its product sales to distributors and resellers, who in turn sell to original equipment manufacturers or other end customers. The Company recognizes product revenue, at a point in time, upon shipment when it satisfies its performance obligations as evidenced by the transfer of control of its products to customers. The Company measures revenue based on the amount of consideration it expects to be entitled to in exchange for products. Variable consideration is estimated and reflected as an adjustment to the transaction price. The Company determines variable consideration, which consists primarily of price adjustments and product returns by estimating the amount of consideration the Company expects to receive from its customers based on historical experience of price adjustments and product returns. Initial estimates of price adjustments and product returns are updated at the end of each reporting period if additional information becomes available. Changes to the Company’s estimated variable consideration were not material for the periods presented. Since the Company’s performance obligations relate to contracts with a duration of less than one year, it does not disclose the aggregate amount of the transaction price allocated to performance obligations that are unsatisfied or partially unsatisfied at the end of the reporting period.

The Company’s payment terms vary by contract type and type of customer and generally range from 30 to 60 days from shipment. The Company has also elected to recognize the cost for freight and shipping when control over the products sold passes to customers and revenue is recognized.

As a practical expedient, the Company records the incremental costs of obtaining a contract, consisting primarily of sales commissions, when incurred because the amortization period is one year or less. These costs are recorded within sales and marketing expenses. The Company entered into a distribution agreement with MegaChips, whereby the Company appointed MegaChips as the exclusive distributor of its products in Japan. The Company recognizes revenue upon shipment derived from sales of products through MegaChips in the amount of expected payments from parties which purchased the products as adjusted for estimated price concessions and product returns.

Cost of Revenue

Cost of revenue consists of wafers acquired from third-party foundries, assembly, packaging, and test cost of the Company’s products paid to third-party contract manufacturers, and personnel and other costs associated with the manufacturing operations of the Company. Cost of revenue also includes depreciation of production equipment, inventory write-downs, amortization of internally developed software, shipping and handling costs, and allocation of overhead and facility costs. The Company also includes credits for rebates received from foundries to cost of revenue.

Research and Development Expenses

Research and development costs consist primarily of personnel cost, material cost, and facilities related expenses, incurred in the course of planned research and development of new products. Research and development costs are expensed as incurred.

Selling, General and Administrative Expenses

Selling, general and administrative expenses primarily consist of personnel costs, field application engineering support, travel costs, professional and consulting fees, accounting and audit fees, legal, advertising expenses, and allocated overhead costs. Selling, general and administrative costs are expensed as incurred. Advertising expenses were $0.3 million and $0.3 million, for the years ended December 31, 2020 and 2019.

Stock-Based Compensation

The Company measures and recognizes compensation expense for all stock-based awards made to employees, based on estimated fair values using the straight-line method over the requisite service period. The Company recognizes forfeitures as they occur.

The Company granted restricted stock units (“RSUs”) of its own common stock after the completion of its IPO and such grants were valued at the fair market value of the Company’s stock on the date of the grant.

The Company amortizes stock-based compensation expense for time-based awards under the straight-line attribution method over the vesting period. Stock-based compensation expense for performance-based awards is recognized when it becomes probable that the performance conditions will be met. The Company amortizes stock-based compensation expense for performance-based awards using the accelerated method.

Net Loss Per Share Attributable to Common Stockholder

Basic net loss per share attributable to common stockholder is calculated by dividing the net loss attributable to common stockholder by the weighted-average number of shares of common stock outstanding during the period, without consideration for potentially dilutive securities. Diluted net loss per share is computed by dividing the net loss attributable to common stockholder by the weighted-average number of shares of common stock and potentially dilutive securities outstanding for the period. For purposes of the diluted net loss per share calculation, the Company does not have any stock issuances that are considered to be potentially dilutive securities. As such, the net loss was attributed entirely to common stockholder. Because the Company has no potentially dilutive securities for the years ended December 31, 2020 and 2019, diluted net loss per share attributable to common stockholder is the same as basic net loss per share attributable to common stockholder for all periods presented.

Comprehensive Loss

The Company has no components of other comprehensive income loss. Therefore, net loss equals comprehensive loss for all periods presented.

Recent Accounting Pronouncements

12 Months Ended

Dec. 31, 2020

Accounting Changes And Error Corrections [Abstract]

Recent Accounting Pronouncements

2. Recent Accounting Pronouncements

Recently Adopted Accounting Guidance

In August 2018, the FASB issued ASU 2018-15, Intangibles-Goodwill and Other-Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract, which aligns the requirements for capitalizing implementation costs incurred in a cloud computing arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use-software. The standard is effective for public companies for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. Early adoption is permitted. The adoption of this standard on January 1, 2020 did not have any impact on the Company's consolidated financial position, results of operations and cash flows.

In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement, which modifies the disclosure requirements in Topic 820. The adoption of this standard on January 1, 2020 did not have any impact on the Company's disclosures.

In June 2016, the FASB issued ASU 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, which changes the credit loss model from an incurred loss approach to an expected loss approach. It requires the application of a current expected credit loss (“CECL”) impairment model to financial assets measured at amortized cost (including trade accounts receivable) and certain off-balance-sheet credit exposures. Under the CECL model, lifetime expected credit losses on such financial assets are measured and recognized at each reporting date based on historical, current, and forecasted information. The standard also changes the impairment model for available-for-sale debt securities, eliminating the concept of other than temporary impairment and requiring credit losses to be recorded through an allowance for credit losses. The amount of the allowance for credit losses for available-for-sale debt securities is limited to the amount by which fair value is below amortized cost. The Company adopted the standard on January 1, 2020 using a modified retrospective adoption method. The adoption of this standard did not have any impact on the Company's consolidated financial position, results of operations and cash flows. The quarterly information presented in the 10-K is not on a consistent basis as the annual information because of the timing of adoption of the accounting standard.

New Accounting Pronouncements Not Yet Adopted

In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes, which eliminates certain exceptions related to the approach for intraperiod tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. It also clarifies and simplifies other aspects of the accounting for income taxes. The new standard will be effective for fiscal years beginning after December 15, 2020. The adoption of this standard is not expected to have a material impact on the Company's consolidated financial position, results of operations and cash flows.

- Definition

The entire disclosure for change in accounting principle. Includes, but is not limited to, nature, reason, and method of adopting amendment to accounting standards or other change in accounting principle.

+ References

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+ Details

Net Loss Per Share

12 Months Ended

Dec. 31, 2020

Earnings Per Share [Abstract]

Net Loss Per Share

3. Net Loss Per Share

The following table summarizes the computation of basic and diluted net loss per share attributable to common stockholder of the Company:

	Year Ended December 31
	2020			2019
	(in thousands, except per share data)
Net loss attributable to common stockholder	$	(9,372	)	$	(6,607	)
Weighted-average shares outstanding		16,064			10,558
Weighted average shares used to compute basic and diluted net loss per share		16,064			10,558
Net loss attributable to common stockholders per share, basic and diluted	$	(0.58	)	$	(0.63	)

Balance Sheets Components

12 Months Ended

Dec. 31, 2020

Balance Sheet Related Disclosures [Abstract]

Balance Sheets Components

4. Balance Sheets Components

Accounts Receivable, net

Accounts receivable, net consisted of the following:

	As of
	December 31, 2020			December 31, 2019
	(in thousands)
Accounts receivable, gross	$	23,970		$	17,788
Allowance for credit losses		(50	)		(129	)
Accounts receivable, net	$	23,920		$	17,659

Inventory

Inventory consisted of the following:

	As of
	December 31, 2020		December 31, 2019
	(in thousands)
Raw materials	$	435	$	304
Work in progress		10,184		8,160
Finished goods		1,731		3,447
Total inventories	$	12,350	$	11,911

Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets consisted of the following:

	As of
	December 31, 2020		December 31, 2019
	(in thousands)
Advance to suppliers	$	853	$	3,338
Prepaid expenses		1,074		1,279
Other current assets		722		984
Total prepaid and other current assets	$	2,649	$	5,601

Property and Equipment, Net

Property and equipment, net consisted of the following:

	As of
	December 31, 2020			December 31, 2019
	(in thousands)
Lab and manufacturing equipment	$	21,958		$	17,376
Computer equipment		1,121			800
Furniture and fixtures		237			241
Construction in progress		638			221
Leasehold improvements		4,134			4,074
		28,088			22,712
Accumulated depreciation		(16,380	)		(13,424	)
Total property and equipment, net	$	11,708		$	9,288

Depreciation expense related to property and equipment was $3.7 million and $3.3 million for the years ended December 31, 2020 and 2019, respectively.

Intangible Assets, Net

Intangible assets, net consisted of the following:

	As of
	December 31, 2020			December 31, 2019
	(in thousands)
Internal use software	$	9,377		$	10,022
Purchased intangibles		5,663			4,793
		15,040			14,815
Accumulated amortization		(12,971	)		(10,326	)
Intangible assets, net	$	2,069		$	4,489

Amortization expense for intangible assets was $2.7 million, and $4.9 million, for the years ended December 31, 2020 and 2019, respectively. In the year ended December 31, 2020 the Company recorded impairment charges of $1.0 million related to capitalized cost of software that was within the development phase and was being developed solely to meet the Company’s internal needs. The related product for which the software was developed to support in production was abandoned as the Company changed its roadmap and improved the final desired technical specifications required of the new product. Accordingly, it was no longer probable that the software project will be completed and placed into service. The impairment charge was recorded as research and development expense in the consolidated statement of operations.

As of December 31, 2020 and 2019, the Company had $0.7 million and $2.0 million, respectively, of intangibles that were still in development stage and were not being amortized. The estimated aggregate future amortization expense for intangible assets in development stage and subject to amortization as of December 31, 2020 is summarized as below:

	(in thousands)
2021	$	1,267
2022		543
2023		259
	$	2,069

Accrued Expenses and Other Current Liabilities

Accrued expenses and other current liabilities consisted of the following:

	As of
	December 31, 2020		December 31, 2019
	(in thousands)
Accrued payroll and related benefits	$	5,362	$	1,880
Accrued customer rebates		380		218
Accrued interest		-		72
Price adjustment and other revenue reserves		3,063		1,222
Short term lease liability		1,264		1,874
Other accrued expenses		2,894		3,176
Total accrued expenses and other current liabilities	$	12,963	$	8,442

Leases

12 Months Ended

Dec. 31, 2020

Leases [Abstract]

Leases

5. Leases

The Company leases real estate property under operating leases. The Company was also a lessee and a sublessor from an accounting perspective for its Santa Clara lease through March 31, 2019.

The Company signed a non-cancellable operating lease agreement for its corporate headquarters in Santa Clara, California, that commenced on October 20, 2016 and will expire on December 31, 2026. The agreement provides for an option to renew for an additional 5 years and for monthly rent payments through the term of the lease.

The Company also leases office space in Michigan, Malaysia, Japan, the Netherlands, and Ukraine all under non-cancellable operating leases with various expiration dates through December 2022. These leases are classified as operating leases. The remaining lease terms vary from few months to 6 years. For its leases the Company has options to extend the lease term for periods varying from one to five years. These renewal options are not considered in the remaining lease term unless it is reasonably certain that the Company will exercise such options. The Company also has variable lease payments that are primarily composed of common area maintenance and utility charges.

In the year ended December 31, 2018, the Company signed an agreement to lease equipment of $3.2 million for research and development and to help with the production of certain of its products. The lease term for such equipment is approximately 10 years.

The table below presents the lease-related assets and liabilities recorded on the consolidated balance sheet as of December 31, 2020 and 2019:

	As of
	December 31, 2020			December 31, 2019
	(in thousands)
Right-of-use assets	$	8,892		$	9,790
Lease liabilities included in accrued expenses and other current liabilities		1,264			1,874
Lease liabilities - non-current		6,986			7,940
Total operating lease liabilities	$	8,250		$	9,814
Weighted-average remaining lease term (years)		5.9			7.1
Weighted-average discount rate		4.2	%		4.1	%

The table below presents certain information related to the lease costs for operating leases for the years ended December 31, 2020 and 2019:

	Year Ended December 31
	2020		2019
	(in thousands)
Operating lease cost	$	1,696	$	1,419
Short-term lease cost	356		313
Variable lease cost	332		494
Total lease cost	$	2,384	$	2,226

Cash paid for operating lease liabilities was $2.3 million and $3.9 million for the year ended December 31, 2020 and 2019 respectively, The Company sub-leased a portion of its Santa Clara facility through March 31, 2019 and received $0.1 million in sub-lease income for the year ended December 31, 2019, which was included in the short-term lease cost above.

Undiscounted Cash Flows

The table below reconciles the undiscounted cash flows for each of the first five years and total of the remaining years to the operating lease liabilities recorded on the consolidated balance sheet as of December 31, 2020:

	(in thousands)
2021	$	1,453
2022		1,596
2023		1,489
2024		1,532
2025		1,580
2026 and beyond		1,615
Total minimum lease payments		9,265
Less: amount of lease payments representing interest		(1,015	)
Present value of future minimum lease payments		8,250
Less: current obligations under leases		(1,264	)
Long-term lease liabilities	$	6,986

As of December 31, 2020, the Company had two leases in Japan for a total cost of less than $0.1 million that had not yet commenced.

Commitments and Contingencies

12 Months Ended

Dec. 31, 2020

Commitments And Contingencies Disclosure [Abstract]

Commitments and Contingencies

6. Commitments and Contingencies

Purchase Commitments

The Company purchases components from a variety of suppliers and uses several contract manufacturers to provide manufacturing services for its products. During the normal course of business, in order to manage manufacturing lead times and to help ensure adequate component supply, the Company enters into agreements with the Company’s contract manufacturers and suppliers that allow them to procure inventory based upon criteria as defined by the Company. A portion of the Company’s reported purchase commitments arising from these agreements consists of firm, non-cancelable purchase commitments. In certain instances, these agreements allow the Company the option to cancel, reschedule, and adjust the Company’s requirements based on its business needs prior to when production starts. However, in situations where the Company is unable to cancel, reschedule, or adjust the purchase commitment due to changing customer demand, excess inventories could result in material inventory provisions. As of December 31, 2020, the Company had a commitment of $2.1 million for a license which will be paid equally through July 2023.

Commitments for MEMS Wafer Supplier Agreement

The Company purchases MEMS wafers required for its silicon timing systems products under a multi-year manufacturing agreement with a third-party supplier. Under this agreement, the Company has agreed to minimum quantity purchase commitments and is responsible for research and development, tooling, and samples cost, in addition to wafer costs. The Company has historically met the supplier’s minimum wafer quantity requirements.

Indemnification

The Company is a party to a variety of agreements pursuant to which it may be obligated to indemnify other parties to such agreements with respect to certain matters. Typically, these obligations arise in the context of contracts that the Company has entered into, under which the Company customarily agrees to hold the other party harmless against losses arising from a breach of representations and covenants or terms and conditions related to such matters as the sale and/or delivery of its products, title to assets sold, certain intellectual property claims, defective products, specified environmental matters, and certain income taxes. Further, the Company’s obligations under these agreements may be limited in terms of time, amount, or the scope of its responsibility and in some instances, the Company may have recourse against third parties for certain payments made under these agreements. It is not possible to predict the maximum potential amount of future payments under these agreements due to the conditional nature of the Company’s obligations and the unique facts and circumstances involved in each particular agreement. Historically, the Company has had no material indemnification claims under these agreements.

Legal Matters

From time to time, the Company may be a party to various litigation claims in the normal course of business. Legal fees and other costs associated with such actions are expensed as incurred. The Company assesses, in conjunction with legal counsel, the need to record a liability for litigation and contingencies. Accrual estimates are recorded when and if it is determined that such a liability for litigation and contingencies are both probable and reasonably estimable.

In March 2019, VTT Technical Research Centre of Finland, Ltd. ("VTT") filed suit in the United States District Court for the Northern District of California alleging infringement by the Company of a patent relating to specific combinations of features set forth in U.S. Patent No. 8,558,643. The complaint sought unspecified monetary damages and injunctive relief. On January 22, 2020, the Company participated in a mediation that had been ordered by the Court. The case was not resolved at the mediation. A Markman Hearing was held on May 15, 2020 relating to a number of different disputed claim terms, and on July 9, 2020 the Court issued a Markman Order relating to those disputed claim terms. Among its determinations, the Court found that one of the disputed claim terms was indefinite, as well as any claim that had this claim term in it. On July 17, 2020, the Court issued a judgment finding all claims of U.S. Patent No. 8,558,643 invalid, based upon its Markman Order. VTT filed a Notice of Appeal of the Court's judgment with the US Court of Appeals for the Federal Circuit and filed its opening brief on November 19, 2020 and the Company filed its response brief on January 28, 2021. The potential loss is currently neither probable nor reasonably estimable.

Debt Obligations

12 Months Ended

Dec. 31, 2020

Debt Disclosure [Abstract]

Debt Obligations

7. Debt Obligations

The Company has borrowed against the short-term revolving lines of credit that it has arranged with financial institutions like The Bank of Tokyo-Mitsubishi UFJ, Ltd.(“MUFG”), and Sumitomo Mitsui Banking Corporation (“SMBC”), and MegaChips to fund its operations. The weighted-average interest rate on short-term borrowings outstanding as of December 31, 2019 was 1.42%.

Debt obligations as of December 31, 2020 and 2019 consisted of the following:

	As of
	December 31, 2020		December 31, 2019
	(in thousands)
Revolving line of credit:
MUFG	$	-	$	41,000
Balance		—		41,000
Less: Current portion of long-term debt		—		(41,000	)
Long-term debt	$	—	$	—

As of December 31, 2019, debt obligations were as follows (dollars in thousands):

	Loan Start Date	Loan Amount		Annual Interest Rate			Maturity Date
Lender
MUFG	12/19/2019	$	38,000		2.97000	%	6/10/2020
MUFG	8/23/2019		3,000		3.10000	%	2/19/2020
		$	41,000

Revolving Line of Credit

The Bank of Tokyo-Mitsubishi Credit Facility

On August 31, 2015, the Company entered into a bank transaction agreement with MUFG. The agreement provided for a revolving line of credit with a maximum available borrowing of $20.0 million. On June 29, 2018, the Company increased the revolving line of credit to $50.0 million through July 31, 2020. Between August 2015 and December 31, 2019, the Company borrowed $139.0 million in several draw-downs against the revolving line of credit with terms ranging from one month to one year and interest rate ranging between 1.01 % to 4.07%.

Renewal and extensions on the MUFG loans for the years ended December 2019 and 2020 have been set forth below:

Loan Start Date	Maturity Date	Loan Amount		Annual Interest Rate
8/23/2019	2/19/2020	$	3,000	3.10%
12/19/2019	6/10/2020		38,000	2.97%
3/23/2020	9/21/2020		3,000	2.46%
3/24/2020	3/24/2021		9,000	2.37%
6/10/2020	6/24/2020		23,000	1.39%
6/24/2020	7/24/2020		23,000	1.45%

On July 24, 2020, the Company paid down all outstanding loans with MUFG of $35.0 million of which $12.0 million of loans were prepaid with a penalty of $0.1 million. Effective June 30, 2020, the MegaChips guarantee for the revolving line of credit with MUFG has been terminated. Upon termination of the guarantee, the Company agreed to maintain a minimum cash balance in its operating cash account equal to its outstanding loan balance with MUFG. The minimum cash balance requirement is a compensating balance arrangement that does not legally restrict any cash amounts that are shown in the condensed consolidated balance sheet. The Company continues to have $50.0 million funds available under its credit facility with MUFG. Interest under the revolving line of credit was calculated at MUFG’s prevailing prime rate plus a margin of 2 percentage points which would be agreed by the Company at the time each loan was made. Interest was due for payment on the maturity date of each loan. The Company did not incur any costs upon renewal of the revolving credit line or at the time of increase in the revolving line of credit.

The agreement contains customary representations and warranties, affirmative covenants, and events of default upon the occurrence of certain events, such as nonpayment of amounts due under the revolving line of credit, violation of contractual provisions, or a material adverse change in the Company’s business. The agreement also includes customary administrative covenants, including a limitation on entering any transactions involving a merger or consolidation, reorganization, spin-off, liquidation, dissolution, winding up, or conveying, selling, leasing, licensing, or otherwise disposing of all or substantially all of the Company’s property, assets, or business. As of December 31, 2020 and 2019, the Company was in compliance with all covenants.

Terminated Loans

Sumitomo Mitsui Banking Corporation Credit Facility

On September 22, 2017, the Company entered into an uncommitted and revolving credit line agreement with SMBC. The revolving credit line has a maximum available borrowing availability of up to $20.0 million. The Company could draw loans under the revolving credit line from time to time through September 21, 2018, as long as the principal amount at any time did not exceed $20.0 million in the aggregate. Such term was extended for an additional year through September 20, 2019 and further extended for an additional year through September 21, 2020. The Company closed its line of credit in September 2020. Loans under the revolving credit line may have a maturity from one day to 12 months from the date of borrowing. The loans borrowed under the revolving line of credit bear a variable rate of interest based upon SMBC’s prevailing prime rate plus a margin of 1 percentage point which would be agreed by the Company at the time each loan was made. Interest was due for payment on the maturity date of each loan. SMBC had the right to terminate the revolving credit line in whole or part in its sole discretion. The Company did not incur any costs at the initiation of the revolving line of credit or upon renewal of the revolving credit line.

The agreement contained customary representations and warranties, affirmative covenants, negative covenants, and events of default upon the occurrence of certain events, such as nonpayment of amounts due under the revolving line of credit, violation of contractual provisions, or a material adverse change in the Company’s business. In addition, the agreement included a financial covenant for a minimum net worth, defined as total assets less total liabilities, of $0. The agreement also included customary administrative covenants, including a limitation on entering any transactions involving a merger or consolidation, reorganization, spin-off, liquidation, dissolution, winding up, or conveying, selling, leasing, licensing, or otherwise disposing of all or substantially all of the Company’s property, assets, or business. As of December 31, 2019, the Company was in compliance with all covenants. The agreement provided that the Company would provide collateral if SMBC determined in consultation with the Company that additional collateral or guarantee would be necessary. Use of proceeds from the loan was restricted for certain specified purposes. The SMBC revolving line of credit was guaranteed by MegaChips.

MegaChips Loan

On September 13, 2016, the Company entered into a loan agreement with MegaChips for a revolving credit limit of up to $30.0 million (the “MegaChips Loan Agreement”). Loans under the MegaChips Loan Agreement bear interest at a rate equal to the interest rate at which MegaChips procured the funds from SMBC, plus 0.09%. Interest for each loan is due on the maturity date of each loan. Each loan drawn from MegaChips has a three-month term, which term was renewed on maturity. MegaChips has discretion whether to accept the Company’s request for a loan under the MegaChips Loan Agreement. The initial term of the MegaChips Loan Agreement is one year from the date of the agreement, which term is automatically renewed and extended every year unless either party provides written notice to the other party. The Company did not incur any costs at the time of initiation of such credit facility or at the time of extension of the term of the credit facility.

The agreement contains usual and customary events of default upon the occurrence of certain events, such as nonpayment of amounts due under the revolving line of credit, violation of contractual provisions, a material adverse impact on the Company’s business, or its ability to perform under the agreement. The agreement includes customary administrative covenants but does not contain any negative covenants or conditions to borrowing.

The outstanding balance under the revolving line with MegaChips was repaid on December 12, 2019 upon maturity. During the year ended December 31, 2020, the Company closed its revolving line of credit with MegaChips. As of December 31, 2019, the Company was in compliance with all covenants.

Stockholders' Equity

12 Months Ended

Dec. 31, 2020

Equity [Abstract]

Stockholders' Equity

8. Stockholders’ Equity

The Company’s certificate of incorporation, as amended and currently in effect, authorizes the Company to issue 200,000,000 shares of common stock, par value $0.0001 per share. Each share of common stock is entitled to one vote. The holders of common stock are also entitled to receive dividends whenever funds are legally available and when and if declared by the board of directors, subject to the prior rights of holders of all classes of preferred stock outstanding. The Company has never declared any dividends.

Stock-based Compensation

12 Months Ended

Dec. 31, 2020

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Stock-based Compensation

9. Stock-based Compensation

SiTime Corporation 2019 Stock Incentive Plan

Upon completion of its IPO in November 2019, the Company adopted the SiTime Corporation 2019 Stock Incentive Plan (the “2019 Plan”), which initially reserved approximately 3.4 million shares of the Company’s common stock. The 2019 Plan provides for the grant of incentive stock options, non-statutory stock options, restricted stock awards, restricted stock unit awards, stock appreciation rights, performance stock awards, and other forms of equity compensation (collectively, “stock awards”), and cash awards, all of which may be granted to employees (including officers), directors, and consultants or affiliates. Awards granted under the 2019 Plan vest at the rate specified by the plan administrator, for restricted stock unit awards typically with quarterly vesting over four years. As of December 31, 2020, 0.3 million shares were still reserved for issuance.

The Company granted 3.0 million new time-based restricted stock awards in the year ended December 31, 2019 with quarterly vests primarily over two to five years. Activity of RSUs granted under the Plan is set forth below:

	RSU			Grant Date		CRSU			Grant Date
	Number of			Fair Value		Number of			Fair Value
	Shares			per share		Shares			per share
Balance at December 31, 2018		—			—		—			—
Granted		3,012,399			13.00		—			—
Vested		(23,077	)		13.00		—			—
Forfeited		-			—		—			—
Balance at December 31, 2019		2,989,322			13.00		—			—
Granted		682,517			53.42		11,844			48.62
Vested		(766,934	)		15.46		(11,220	)		49.37
Forfeited		(169,199	)		13.72		—			—
Balance at December 31, 2020		2,735,706			22.35		624			35.05

On August 4, 2020, the Compensation Committee of the Company adopted and approved the Executive Bonus and Retention Plan (the “Bonus and Retention Plan”) with target bonus amounts and performance goals for the second half of the fiscal year 2020 (the “2020 Goals”). The 2020 Goals are based on the achievement of revenue and Non-GAAP operating profit for the second half of 2020, as well as individual performance goals. The target bonuses were granted based on a fixed dollar amount to be settled in restricted stock units on the vesting date and hence the awards have been classified as liability-based awards. Such expense is included in the non-cash adjustment within stock-based compensation expense on the consolidated cash flow statement. The liability of $1.2 million was recorded as accrued expenses and other current liabilities in the consolidated balance sheet. Actual payouts ranged from 119% to 144% of target, based on performance.

In the year ended December 31, 2020, the Company granted cash based RSUs (the “CRSU”) as part of an employee bonus plan. Generally, such units are granted quarterly and fully vest at the end of the quarter they are granted except units granted to new hires that have a one-year cliff vesting. Such awards have also been classified as liability-based awards.

The fair value of shares vested during the year ended December 31, 2020 was $43.7 million of which $0.9 million related to CRSU. For the year ended December 31, 2020, the Company issued 657,201 shares of common stock in connection with the vesting of RSUs. The difference between the number of RSUs vested and the shares of common stock issued is the result of RSUs withheld in satisfaction of minimum tax withholding obligations associated with the vesting.

Total stock-based compensation expense for employees recognized in the consolidated statements of operations and comprehensive income (loss) was as follows:

	Year Ended December 31,
	2020		2019
	(in thousands)
Equity awards
Cost of revenue	$	613	$	36
Research and development		4,682		346
Selling, general and administrative		9,521		997
	$	14,816	$	1,379
Liability based awards - equity settled
Research and development		445		—
Selling, general and administrative		748		—
	$	1,193	$	—
Total stock-based compensation - equity settled	$	16,009	$	1,379

Liability based awards - cash settled
Cost of revenue	$	264	$	—
Research and development		415		—
Selling, general and administrative		278		—
Total stock-based compensation - cash settled	$	957	$	—
Total stock-based compensation expense	$	16,966	$	1,379

At December 31, 2020, there was $57.6 million and $0.6 million of unamortized compensation costs related to RSUs granted and liability-based awards. The unamortized compensation cost is expected to be recognized over a weighted average period of 3.80 years for equity awards and 0.44 years for liability-based awards.

Income Taxes

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Income Taxes

10. Income Taxes

The components of income (loss) before income taxes were as follows:

	Years Ended December 31,
	2020			2019
	(in thousands)
United States	$	(9,645	)	$	(6,485	)
Foreign		274			(130	)
	$	(9,371	)	$	(6,615	)

The components of income tax (expense) benefit were as follows:

	Years Ended December 31,
	2020			2019
	(in thousands)
United States	$	(1	)	$	8
Foreign		—			—
	$	(1	)	$	8

The material components of the deferred tax assets and liabilities consisted of net operating loss carry-forwards and tax credit carry-forwards.

	Years Ended December 31,
	2020			2019
	(in thousands)
Deferred tax assets:
Accrual, write-down and other	$	3,249		$	2,469
Depreciation and amortization		257			76
Net operating loss and credits carry forwards		52,445			42,949
Total gross deferred tax assets		55,951			45,494
Valuation allowance		(55,951	)		(45,494	)
Total net deferred tax assets	$	—		$	—

The net valuation allowance decreased by $10.5 million for the year ended December 31, 2020.

A reconciliation of the Company’s effective tax rate to the statutory U.S. federal rate is as follows:

	Years Ended December 31,
	2020			2019
	(in thousands)
US Federal Rate		21.0	%		21.0	%
R&D Credits		-			(10.9	)
Permanent differences and others		90.4			(18.3	)
Change in valuation allowance		(111.4	)		8.2
		0.0	%		0.0	%

The reported amount of income tax expense differs from an expected amount based on statutory rates primarily due to the Company’s valuation allowance.

As of December 31, 2020 and 2019, based on the available objective evidence, management believes it is more likely than not that the net deferred tax assets will not be realized. Accordingly, management has applied a full valuation allowance against its net deferred tax assets at December 31, 2020 and 2019.

At December 31, 2020 and 2019, the Company has federal net operating loss carry-forwards of approximately $201.5 million and $156.5 million, respectively, and state net operating loss carry-forwards of approximately $64.0 million and $63.7 million, respectively. At December 31, 2020 and 2019, the Company has net operating loss carryforwards for foreign income tax purposes of approximately $2.2 million and $1.3 million, respectively. These federal, state, and foreign net operating loss carry-forwards will expire beginning in 2025, 2028, and 2028, respectively. Of the total federal net operating loss carryforward, $55.7 million will not expired as a result of the Tax Act.

At December 31, 2020 and 2019, the Company also has federal research and development tax credit carry-forwards of approximately $3.9 million and $3.9 million, respectively, and state research and development tax credit carry-forwards of approximately $3.6 million and $3.6 million, respectively. The federal tax credits begin to expire in 2025, and the California tax credits carry forward indefinitely.

Utilization of the net operating loss carry-forwards and credits may be subject to a substantial annual limitation due to the ownership change limitations provided by the Internal Revenue Code of 1986, as amended (“the Code”), and similar state provisions. The annual limitation may result in the expiration of net operating losses and credits before utilization.

As of December 31, 2020 and 2019, the Company had $2.4 million and $2.2 million of total unrecognized tax benefits. The Company currently has a full valuation allowance against its net deferred tax assets which would impact the timing of the effective tax rate benefit should any of these uncertain tax positions be favorably settled in the future. If the Company is able to eventually recognize these uncertain tax positions, none of the unrecognized benefit would reduce the Company’s effective tax rate due to full valuation allowance of the Company’s deferred tax assets. The Company’s policy is to record interest and penalties related to unrecognized tax benefits as income tax expense. During the years ended December 31, 2020 and 2019, the Company had immaterial amounts related to the accrual of interest and penalties.

A reconciliation of the beginning and ending unrecognized tax benefit amount is as follows:

	December 31,
	2020		2019
	(in thousands)
Beginning balance	$	2,184	$	2,198
Decrease in balance related to tax position taken during prior periods		—		(14	)
Increase in balance related to tax position taken during the current period		252		—
Ending balance	$	2,436	$	2,184

The Company does not have any tax positions for which it is reasonably possible the total amount of gross unrecognized tax benefits will increase or decrease within 12 months of the years ended December 31, 2020 and 2019.

The Company files tax returns as prescribed by the tax laws of the jurisdictions in which it operates. In the normal course of business, the Company is subject to examination by federal, state, local, and foreign jurisdictions, where applicable. Due to the Company’s net losses, its federal, state and local, and foreign tax returns since inception are subject to audit.

As of December 31, 2020, the tax years that remain subject to examination by the major tax jurisdictions under the statute of limitations are as follows:

Jurisdiction		Earliest Tax Year Subject to Examination
U.S. federal		2005
California State		2008
Michigan State		2019

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

401 (k) Plan

12 Months Ended

Dec. 31, 2020

Compensation And Retirement Disclosure [Abstract]

401 (k) Plan

11. 401(k) Plan

The Company has a 401(k) retirement plan that qualifies as a defined contribution plan. All employees are eligible to participate on the first day of the month following their hire date with the Company. Under the defined contribution plan, employees may contribute up to the lesser of 90% of their pre-tax salaries per year or the maximum contribution allowed under the Code. The Company may make discretionary matching contributions, if deferral contributions are made by the employees. The Company’s matching contributions for the years ended December 31, 2020 and 2019 resulted in expense of $0.6 million in each year.

Segment Information and Operations by Geographic Area

12 Months Ended

Dec. 31, 2020

Segment Reporting [Abstract]

Segment Information and Operations by Geographic Area

12. Segment Information and Operations by Geographic Area

The Company operates in one reportable segment related to the design, development, and sale of silicon timing systems solutions. The chief operating decision maker, for the Company is the Chief Executive Officer. The Company’s Chief Executive Officer reviews operating results on an aggregate basis and manages the Company’s operations as a whole for the purpose of evaluating financial performance and allocating resources. Accordingly, the Company has determined that it has a single reportable and operating segment structure.

The following table sets forth revenue by country, based on ship-to destinations, for countries with 10% or more of the Company’s revenue during any of the periods presented:

	Year Ended
	December 31, 2020		December 31, 2019
	(in thousands)
Taiwan	$	55,789	$	39,060
Hong Kong		30,306		16,534
United States		8,522		5,677
Other		21,539		22,803
Total	$	116,156	$	84,074

The Company’s long-lived assets in the U.S. attributable to operations as of December 31, 2020 and 2019 were 97% of total property and equipment and intangible assets.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Section 50
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Related Party Transactions

12 Months Ended

Dec. 31, 2020

Related Party Transactions

13. Related Party Transactions

The Company entered into an agreement with MegaChips, whereby the Company appointed MegaChips as the exclusive sales representative of its products in Japan. The Company sells products through MegaChips to distributors, resellers, or direct customers in Japan. The Company pays MegaChips a fixed percentage of the revenue as sales commission, which is recorded as commission expense and included in sales and marketing in the consolidated statements of operations and comprehensive income (loss).

MegaChips is the largest stockholder of the Company and held approximately 43.7% and 66.8% of the Company’s outstanding common stock as of December 31, 2020 and December 31, 2019, respectively.

In the year ended December 31, 2020, the Company entered into an asset purchase agreement with MegaChips Corporation. The Company recorded the equipment of $0.1 million on the consolidated balance sheet under “Property and equipment, net.”

In the year ended December 31, 2020 the Company entered into an equipment purchase agreement with MegaChips Taiwan Corporation, a wholly-owned subsidiary of MegaChips Corporation. The Company recorded the equipment of $0.1 million on the consolidated balance sheet under “Property and equipment, net.”

In the year ended December 31, 2020 the Company entered into a services and secondment agreement with MegaChips LSI USA Corporation, a wholly-owned subsidiary of MegaChips Corporation. The Company records the transactions as consulting expenses as part of its research and development expense on the consolidated statement of operations and comprehensive loss.

See Note 7, “Debt Obligations” for more information regarding the Company’s loan agreement with MegaChips.

The following is a summary of significant balances, transactions and payments with the related parties and affiliates.

Components of Consolidated Balance Sheets	December 31, 2020		December 31, 2019
	(in thousands)
MegaChips
Accounts receivable	$	736	$	1,073
Property and equipment, net		209		—
Accounts payable		—		220

Components of Statement of Operations and Comprehensive Loss	Year ended December 31,
	2020		2019
	(in thousands)
MegaChips
Sales through distribution agreement	$	5,714	$	5,071
License expense		148		158
Commission expense		228		202
Interest expense		—		94
Affiliates
Consulting fees		380		—

Components of Consolidated Cash Flows	Year Ended December 31,
	2020		2019
	(in thousands)
MegaChips
Cash paid for principal	$	-	$	3,000
Cash paid for equipment		209		—
Cash paid for interest		—		94
Cash paid for commissions		228		202
Cash paid for licenses		25		329
Consulting fees
Cash paid for consulting fees	380			—

Schedule II - Valuation and Qualifying Accounts

12 Months Ended

Dec. 31, 2020

Valuation And Qualifying Accounts [Abstract]

Schedule II - Valuation and Qualifying Accounts

SCHEDULE II

VALUATION AND QUALIFYING ACCOUNTS

	Valuation and Qualifying Accounts
	Balance at Beginning of Period		Additions Charged to Expenses or Other Accounts		Deductions Credited to Expenses or Other Accounts			Balance at End of Period
	(in thousands)
Allowance for credit losses
Year Ended December 31, 2020	$	129	$	—	$	(79	)	$	50
Year Ended December 31, 2019	$	168	$	—	$	(39	)	$	129
Deferred tax valuation allowance
Year Ended December 31, 2020	$	45,494	$	10,457	$	—		$	55,951
Year Ended December 31, 2019	$	45,496	$	—	$	(2	)	$	45,494

The Company and Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2020

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Outbreak of Coronavirus Disease 2019 (“the COVID-19 pandemic”)

Reporting Calendar

The Company’s fiscal year begins on January 1 of the year stated and ends on December 31 of the same year. The Company reports its results on a calendar year basis.

Principles of Consolidation

The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All intercompany transactions and balances have been eliminated in consolidation.

Initial and Follow-on Public Offerings

Stock Split

Use of Estimates

Foreign Currency Remeasurement

Cash and Cash Equivalents

Fair Value Measurements

Level 1: Valuations based on quoted prices in active markets for identical assets or liabilities that the entity has the ability to access.

Level 3: Valuations based on inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.

There were no transfers between Level 1 and Level 2 categories during any of the periods presented.

Accounts Receivable and Allowances for Credit Losses

Concentration of Credit Risk

The following table discloses these customers’ percentage of revenue for the respective periods:

	Year Ended December 31,
	2020			2019
Customer
Pernas Electronics Co. Ltd.		26	%		17	%
Quantek Technology Corporation		18			22
Arrow Electronics, Inc.		15			19

At December 31, 2020 and 2019, three customers accounted for 10% or more of accounts receivable, as disclosed below:

	As of December 31,
	2020			2019
Customer
Pernas Electronics Co. Ltd.		31	%		12	%
Quantek Technology Corporation		22			32
Arrow Electronics, Inc.		18			26

Inventories

Property and Equipment

Lab and manufacturing equipment		3 to 5 years
Computer equipment		3 years
Furniture and fixtures		5 years
Leasehold improvements		Shorter of remaining lease term or estimated useful lives of the assets

Intangible Assets

Leases

Impairment of Long-Lived Assets

The Company determined that no events or changes in circumstances indicate that impairment of its long-lived assets has occurred.

Research and Development Expenses

Selling, General and Administrative Expenses

Stock-Based Compensation

Net Loss Per Share Attributable to Common Stockholder

Comprehensive Loss

The Company has no components of other comprehensive income loss. Therefore, net loss equals comprehensive loss for all periods presented.

Accounting Standards Recently Adopted/Not Yet Adopted

Recently Adopted Accounting Guidance

New Accounting Pronouncements Not Yet Adopted

The Company and Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2020

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Schedule of Concentration of Risk, by Risk Factor

The following table discloses these customers’ percentage of revenue for the respective periods:

	Year Ended December 31,
	2020			2019
Customer
Pernas Electronics Co. Ltd.		26	%		17	%
Quantek Technology Corporation		18			22
Arrow Electronics, Inc.		15			19

At December 31, 2020 and 2019, three customers accounted for 10% or more of accounts receivable, as disclosed below:

	As of December 31,
	2020			2019
Customer
Pernas Electronics Co. Ltd.		31	%		12	%
Quantek Technology Corporation		22			32
Arrow Electronics, Inc.		18			26

Property, Plant and Equipment Estimated Useful Lives

Depreciation of property and equipment is recognized on a straight-line basis over the estimated useful lives of the respective assets as follows:

Lab and manufacturing equipment		3 to 5 years
Computer equipment		3 years
Furniture and fixtures		5 years
Leasehold improvements		Shorter of remaining lease term or estimated useful lives of the assets

Net Loss Per Share (Tables)

12 Months Ended

Dec. 31, 2020

Earnings Per Share [Abstract]

Summary of Computation of Basic and Diluted Net Loss per Share

The following table summarizes the computation of basic and diluted net loss per share attributable to common stockholder of the Company:

	Year Ended December 31
	2020			2019
	(in thousands, except per share data)
Net loss attributable to common stockholder	$	(9,372	)	$	(6,607	)
Weighted-average shares outstanding		16,064			10,558
Weighted average shares used to compute basic and diluted net loss per share		16,064			10,558
Net loss attributable to common stockholders per share, basic and diluted	$	(0.58	)	$	(0.63	)

Balance Sheets Components (Tables)

12 Months Ended

Dec. 31, 2020

Balance Sheet Related Disclosures [Abstract]

Schedule of Accounts Receivable, Net

Accounts receivable, net consisted of the following:

	As of
	December 31, 2020			December 31, 2019
	(in thousands)
Accounts receivable, gross	$	23,970		$	17,788
Allowance for credit losses		(50	)		(129	)
Accounts receivable, net	$	23,920		$	17,659

Schedule of Inventory

Inventory consisted of the following:

	As of
	December 31, 2020		December 31, 2019
	(in thousands)
Raw materials	$	435	$	304
Work in progress		10,184		8,160
Finished goods		1,731		3,447
Total inventories	$	12,350	$	11,911

Schedule of Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets consisted of the following:

	As of
	December 31, 2020		December 31, 2019
	(in thousands)
Advance to suppliers	$	853	$	3,338
Prepaid expenses		1,074		1,279
Other current assets		722		984
Total prepaid and other current assets	$	2,649	$	5,601

Schedule of Property and Equipment Net

Property and equipment, net consisted of the following:

	As of
	December 31, 2020			December 31, 2019
	(in thousands)
Lab and manufacturing equipment	$	21,958		$	17,376
Computer equipment		1,121			800
Furniture and fixtures		237			241
Construction in progress		638			221
Leasehold improvements		4,134			4,074
		28,088			22,712
Accumulated depreciation		(16,380	)		(13,424	)
Total property and equipment, net	$	11,708		$	9,288

Schedule of Intangible Assets, Net

Intangible assets, net consisted of the following:

	As of
	December 31, 2020			December 31, 2019
	(in thousands)
Internal use software	$	9,377		$	10,022
Purchased intangibles		5,663			4,793
		15,040			14,815
Accumulated amortization		(12,971	)		(10,326	)
Intangible assets, net	$	2,069		$	4,489

Schedule of Future Amortization Expense for Intangible Assets

The estimated aggregate future amortization expense for intangible assets in development stage and subject to amortization as of December 31, 2020 is summarized as below:

	(in thousands)
2021	$	1,267
2022		543
2023		259
	$	2,069

Schedule of Accrued Expenses and Other Current Liabilities

Accrued expenses and other current liabilities consisted of the following:

	As of
	December 31, 2020		December 31, 2019
	(in thousands)
Accrued payroll and related benefits	$	5,362	$	1,880
Accrued customer rebates		380		218
Accrued interest		-		72
Price adjustment and other revenue reserves		3,063		1,222
Short term lease liability		1,264		1,874
Other accrued expenses		2,894		3,176
Total accrued expenses and other current liabilities	$	12,963	$	8,442

Leases (Tables)

12 Months Ended

Dec. 31, 2020

Leases [Abstract]

Summary of Lease Related Assets and Liabilities

The table below presents the lease-related assets and liabilities recorded on the consolidated balance sheet as of December 31, 2020 and 2019:

	As of
	December 31, 2020			December 31, 2019
	(in thousands)
Right-of-use assets	$	8,892		$	9,790
Lease liabilities included in accrued expenses and other current liabilities		1,264			1,874
Lease liabilities - non-current		6,986			7,940
Total operating lease liabilities	$	8,250		$	9,814
Weighted-average remaining lease term (years)		5.9			7.1
Weighted-average discount rate		4.2	%		4.1	%

Summary of Lease Costs

The table below presents certain information related to the lease costs for operating leases for the years ended December 31, 2020 and 2019:

	Year Ended December 31
	2020		2019
	(in thousands)
Operating lease cost	$	1,696	$	1,419
Short-term lease cost	356		313
Variable lease cost	332		494
Total lease cost	$	2,384	$	2,226

Summary of Undiscounted Cash Flows

	(in thousands)
2021	$	1,453
2022		1,596
2023		1,489
2024		1,532
2025		1,580
2026 and beyond		1,615
Total minimum lease payments		9,265
Less: amount of lease payments representing interest		(1,015	)
Present value of future minimum lease payments		8,250
Less: current obligations under leases		(1,264	)
Long-term lease liabilities	$	6,986

Debt Obligations (Tables)

12 Months Ended

Dec. 31, 2020

Debt Disclosure [Abstract]

Schedule of Long Term Debt

Debt obligations as of December 31, 2020 and 2019 consisted of the following:

	As of
	December 31, 2020		December 31, 2019
	(in thousands)
Revolving line of credit:
MUFG	$	-	$	41,000
Balance		—		41,000
Less: Current portion of long-term debt		—		(41,000	)
Long-term debt	$	—	$	—

Schedule of Debt Obligations

As of December 31, 2019, debt obligations were as follows (dollars in thousands):

	Loan Start Date	Loan Amount		Annual Interest Rate			Maturity Date
Lender
MUFG	12/19/2019	$	38,000		2.97000	%	6/10/2020
MUFG	8/23/2019		3,000		3.10000	%	2/19/2020
		$	41,000

Renewal and extensions on the MUFG loans for the years ended December 2019 and 2020 have been set forth below:

Loan Start Date	Maturity Date	Loan Amount		Annual Interest Rate
8/23/2019	2/19/2020	$	3,000	3.10%
12/19/2019	6/10/2020		38,000	2.97%
3/23/2020	9/21/2020		3,000	2.46%
3/24/2020	3/24/2021		9,000	2.37%
6/10/2020	6/24/2020		23,000	1.39%
6/24/2020	7/24/2020		23,000	1.45%

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
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Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
-Topic 835
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-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=119993939&loc=d3e28541-108399

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
-Topic 505
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-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21506-112644

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
-Topic 235
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-Paragraph 1
-Subparagraph (SX 210.4-08.(e),(f))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
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Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21538-112644

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
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-URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21475-112644

+ Details

Stock-based Compensation (Tables)

12 Months Ended

Dec. 31, 2020

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Schedule of Activity of RSUs Granted

Activity of RSUs granted under the Plan is set forth below:

	RSU			Grant Date		CRSU			Grant Date
	Number of			Fair Value		Number of			Fair Value
	Shares			per share		Shares			per share
Balance at December 31, 2018		—			—		—			—
Granted		3,012,399			13.00		—			—
Vested		(23,077	)		13.00		—			—
Forfeited		-			—		—			—
Balance at December 31, 2019		2,989,322			13.00		—			—
Granted		682,517			53.42		11,844			48.62
Vested		(766,934	)		15.46		(11,220	)		49.37
Forfeited		(169,199	)		13.72		—			—
Balance at December 31, 2020		2,735,706			22.35		624			35.05

Schedule of Total Stock-Based Compensation Expense

Total stock-based compensation expense for employees recognized in the consolidated statements of operations and comprehensive income (loss) was as follows:

	Year Ended December 31,
	2020		2019
	(in thousands)
Equity awards
Cost of revenue	$	613	$	36
Research and development		4,682		346
Selling, general and administrative		9,521		997
	$	14,816	$	1,379
Liability based awards - equity settled
Research and development		445		—
Selling, general and administrative		748		—
	$	1,193	$	—
Total stock-based compensation - equity settled	$	16,009	$	1,379

Liability based awards - cash settled
Cost of revenue	$	264	$	—
Research and development		415		—
Selling, general and administrative		278		—
Total stock-based compensation - cash settled	$	957	$	—
Total stock-based compensation expense	$	16,966	$	1,379

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Schedule of Components of Income (Loss) Before Income Taxes

The components of income (loss) before income taxes were as follows:

	Years Ended December 31,
	2020			2019
	(in thousands)
United States	$	(9,645	)	$	(6,485	)
Foreign		274			(130	)
	$	(9,371	)	$	(6,615	)

Schedule of Components of Income Tax (Expense) Benefit

The components of income tax (expense) benefit were as follows:

	Years Ended December 31,
	2020			2019
	(in thousands)
United States	$	(1	)	$	8
Foreign		—			—
	$	(1	)	$	8

Schedule of Components of Deferred Tax Assets and Liabilities

The material components of the deferred tax assets and liabilities consisted of net operating loss carry-forwards and tax credit carry-forwards.

	Years Ended December 31,
	2020			2019
	(in thousands)
Deferred tax assets:
Accrual, write-down and other	$	3,249		$	2,469
Depreciation and amortization		257			76
Net operating loss and credits carry forwards		52,445			42,949
Total gross deferred tax assets		55,951			45,494
Valuation allowance		(55,951	)		(45,494	)
Total net deferred tax assets	$	—		$	—

Schedule of Reconciliation of Effective Tax Rate

A reconciliation of the Company’s effective tax rate to the statutory U.S. federal rate is as follows:

	Years Ended December 31,
	2020			2019
	(in thousands)
US Federal Rate		21.0	%		21.0	%
R&D Credits		-			(10.9	)
Permanent differences and others		90.4			(18.3	)
Change in valuation allowance		(111.4	)		8.2
		0.0	%		0.0	%

Schedule of Reconciliation of Unrecognized Tax Benefit

A reconciliation of the beginning and ending unrecognized tax benefit amount is as follows:

	December 31,
	2020		2019
	(in thousands)
Beginning balance	$	2,184	$	2,198
Decrease in balance related to tax position taken during prior periods		—		(14	)
Increase in balance related to tax position taken during the current period		252		—
Ending balance	$	2,436	$	2,184

Schedule of Tax Years Examination By Major Tax Jurisdictions

As of December 31, 2020, the tax years that remain subject to examination by the major tax jurisdictions under the statute of limitations are as follows:

Jurisdiction		Earliest Tax Year Subject to Examination
U.S. federal		2005
California State		2008
Michigan State		2019

Segment Information and Operations by Geographic Area (Tables)

12 Months Ended

Dec. 31, 2020

Segment Reporting [Abstract]

Schedule of Revenue by Country

The following table sets forth revenue by country, based on ship-to destinations, for countries with 10% or more of the Company’s revenue during any of the periods presented:

	Year Ended
	December 31, 2020		December 31, 2019
	(in thousands)
Taiwan	$	55,789	$	39,060
Hong Kong		30,306		16,534
United States		8,522		5,677
Other		21,539		22,803
Total	$	116,156	$	84,074

Related Party Transactions (Tables)

12 Months Ended

Dec. 31, 2020

Summary of Significant Balances, Transactions and Payments with Related Parties and Affiliates

The following is a summary of significant balances, transactions and payments with the related parties and affiliates.

Components of Consolidated Balance Sheets	December 31, 2020		December 31, 2019
	(in thousands)
MegaChips
Accounts receivable	$	736	$	1,073
Property and equipment, net		209		—
Accounts payable		—		220

Components of Statement of Operations and Comprehensive Loss	Year ended December 31,
	2020		2019
	(in thousands)
MegaChips
Sales through distribution agreement	$	5,714	$	5,071
License expense		148		158
Commission expense		228		202
Interest expense		—		94
Affiliates
Consulting fees		380		—

Components of Consolidated Cash Flows	Year Ended December 31,
	2020		2019
	(in thousands)
MegaChips
Cash paid for principal	$	-	$	3,000
Cash paid for equipment		209		—
Cash paid for interest		—		94
Cash paid for commissions		228		202
Cash paid for licenses		25		329
Consulting fees
Cash paid for consulting fees	380			—

The Company and Summary of Significant Accounting Policies - Additional Information (Details)					12 Months Ended
	Jun. 16, 2020 USD ($) shares	Nov. 25, 2019 USD ($) $ / shares shares	Nov. 06, 2019	Oct. 16, 2019 $ / shares shares	Dec. 31, 2020 USD ($) Distributor Customer $ / shares shares	Dec. 31, 2019 USD ($) Distributor Customer $ / shares shares
Significant Accounting Policies [Line Items]
Stock split				30,000-for-1
Common stock, shares authorized \| shares				200,000,000	200,000,000	200,000,000
Common stock, par value \| $ / shares				$ 0.0001	$ 0.0001	$ 0.0001
Reverse stock split			2-for-3
Fair value, assets, level 1 to level 2 transfers, amount					$ 0	$ 0
Fair value, assets, level 2 to level 1 transfers, amount					0	0
Fair value, liabilities, level 1 to level 2 transfers, amount					0	0
Fair value, liabilities, level 2 to level 1 transfers, amount					$ 0	$ 0
Property and equipment, estimated useful life					5 years
Finance leases					$ 0
Earnings per share, potentially dilutive securities \| shares					0	0
Selling, General and Administrative Expenses
Significant Accounting Policies [Line Items]
Advertising expenses					$ 300,000	$ 300,000
Purchased Intangibles with Finite Lives
Significant Accounting Policies [Line Items]
Estimated useful life of intangible assets					3 years
Revenue \| Credit Concentration Risk
Significant Accounting Policies [Line Items]
Number of distributors representing more than 10% of company's revenue \| Distributor					3	3
Concentration risk, percentage					10.00%	10.00%
Accounts Receivable \| Credit Concentration Risk
Significant Accounting Policies [Line Items]
Concentration risk, customer					At December 31, 2020 and 2019, three customers accounted for 10% or more of accounts receivable
Number of customers \| Customer					3	3
Level 1
Significant Accounting Policies [Line Items]
Cash balances in bank					$ 18,400,000	$ 28,400,000
Highly liquid money market funds					$ 55,100,000	$ 35,000,000
MegaChips \| SiTime Corporation
Significant Accounting Policies [Line Items]
Percentage of outstanding common stock held					43.70%
Minimum
Significant Accounting Policies [Line Items]
Revenue Recognized Payment Terms					30 days
Minimum \| Capitalized Internal Use Software
Significant Accounting Policies [Line Items]
Estimated useful life of intangible assets					2 years
Minimum \| Accounts Receivable \| Credit Concentration Risk
Significant Accounting Policies [Line Items]
Concentration risk, percentage					10.00%	10.00%
Maximum
Significant Accounting Policies [Line Items]
Foreign currency remeasurement and transactions gains and losses					$ 200,000	$ 200,000
Warranty reserve balances					$ 100,000	$ 100,000
Revenue Recognized Payment Terms					60 days
Revenue recognized amortization period term					1 year
Maximum \| Capitalized Internal Use Software
Significant Accounting Policies [Line Items]
Estimated useful life of intangible assets					3 years
Initial Public Offering [Member]
Significant Accounting Policies [Line Items]
Issuance of common stock upon net of underwriting discounts and commissions and other offerings costs, Shares \| shares		4,945,000
Shares issued price per share \| $ / shares		$ 13.00
Proceeds from public offering, net of underwriting discounts and commissions		$ 56,400,000
Payments for underwriting discounts, commissions and offering costs		$ 7,900,000
Follow-on Public Offering (June 2020 Offering)
Significant Accounting Policies [Line Items]
Deferred offering costs	$ 300,000
Proceeds from public offering, net of underwriting discounts and commissions	45,800,000
Payments for underwriting discounts and commissions	$ 2,700,000
Follow-on Public Offering (June 2020 Offering) \| SiTime Corporation
Significant Accounting Policies [Line Items]
Issuance of common stock upon net of underwriting discounts and commissions and other offerings costs, Shares \| shares	1,525,000
Follow-on Public Offering (June 2020 Offering) \| MegaChips
Significant Accounting Policies [Line Items]
Issuance of common stock upon net of underwriting discounts and commissions and other offerings costs, Shares \| shares	2,500,000
Over-Allotment Option
Significant Accounting Policies [Line Items]
Issuance of common stock upon net of underwriting discounts and commissions and other offerings costs, Shares \| shares		645,000
Restricted Stock Units RSU
Significant Accounting Policies [Line Items]
Share-based compensation arrangement by share-based payment award, equity instruments other than options, grants in period \| shares					682,517	3,012,399

The Company and Summary of Significant Accounting Policies - Summary of Customers Percentage Accounted For 10% or More of Revenue and Accounts Receivable (Details) - Credit Concentration Risk	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Revenue
Concentration Risk [Line Items]
Concentration risk, percentage	10.00%	10.00%
Revenue \| Pernas Electronics Co. Ltd.
Concentration Risk [Line Items]
Concentration risk, percentage	26.00%	17.00%
Revenue \| Arrow Electronics, Inc.
Concentration Risk [Line Items]
Concentration risk, percentage	15.00%	19.00%
Revenue \| Quantek Technology Corporation
Concentration Risk [Line Items]
Concentration risk, percentage	18.00%	22.00%
Accounts Receivable \| Pernas Electronics Co. Ltd.
Concentration Risk [Line Items]
Concentration risk, percentage	31.00%	12.00%
Accounts Receivable \| Arrow Electronics, Inc.
Concentration Risk [Line Items]
Concentration risk, percentage	18.00%	26.00%
Accounts Receivable \| Quantek Technology Corporation
Concentration Risk [Line Items]
Concentration risk, percentage	22.00%	32.00%

The Company and Summary of Significant Accounting Policies - Summary of Estimated Useful Lives of Property and Equipment (Details)	12 Months Ended
	Dec. 31, 2020
Significant Accounting Policies [Line Items]
Property and equipment, estimated useful lives	5 years
Lab and Manufacturing Equipment \| Minimum
Significant Accounting Policies [Line Items]
Property and equipment, estimated useful lives	3 years
Lab and Manufacturing Equipment \| Maximum
Significant Accounting Policies [Line Items]
Property and equipment, estimated useful lives	5 years
Computer Equipment
Significant Accounting Policies [Line Items]
Property and equipment, estimated useful lives	3 years
Furniture and Fixtures
Significant Accounting Policies [Line Items]
Property and equipment, estimated useful lives	5 years
Leasehold Improvements
Significant Accounting Policies [Line Items]
Property and equipment, estimated useful lives	Shorter of remaining lease term or estimated useful lives of the assets

Net Loss Per Share - Summary of Computation of Basic and Diluted Net Loss per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Earnings Per Share [Abstract]
Net loss attributable to common stockholder	$ (9,372)	$ (6,607)
Weighted-average shares used to compute basic and diluted net loss per share	16,064	10,558
Net loss attributable to common stockholders per share, basic and diluted	$ (0.58)	$ (0.63)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

Balance Sheets Components - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Balance Sheet Related Disclosures [Abstract]
Depreciation expense	$ 3,700	$ 3,300
Amortization expense for intangible assets	2,700	4,900
Impairment of internal-use software	959
Intangibles Assets not amortized	$ 700	$ 2,000

Balance Sheets Components - Schedule of Accounts Receivable, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Accounts Receivable Net Current [Abstract]
Accounts receivable, gross	$ 23,970	$ 17,788
Allowance for credit losses	(50)	(129)
Accounts receivable, net	$ 23,920	$ 17,659

Balance Sheets Components - Schedule of Inventory (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Inventory Disclosure [Abstract]
Raw materials	$ 435	$ 304
Work in progress	10,184	8,160
Finished goods	1,731	3,447
Total inventories	$ 12,350	$ 11,911

Balance Sheets Components - Schedule of Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Prepaid Expense And Other Assets Current [Abstract]
Advance to suppliers	$ 853	$ 3,338
Prepaid expenses	1,074	1,279
Other current assets	722	984
Total prepaid and other current assets	$ 2,649	$ 5,601

Balance Sheets Components - Schedule of Property and Equipment Net (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Property Plant And Equipment [Line Items]
Property and equipment, gross	$ 28,088	$ 22,712
Accumulated depreciation	(16,380)	(13,424)
Total property and equipment, net	11,708	9,288
Lab and Manufacturing Equipment
Property Plant And Equipment [Line Items]
Property and equipment, gross	21,958	17,376
Computer Equipment
Property Plant And Equipment [Line Items]
Property and equipment, gross	1,121	800
Furniture and Fixtures
Property Plant And Equipment [Line Items]
Property and equipment, gross	237	241
Construction in progress
Property Plant And Equipment [Line Items]
Property and equipment, gross	638	221
Leasehold Improvements
Property Plant And Equipment [Line Items]
Property and equipment, gross	$ 4,134	$ 4,074

Balance Sheets Components - Schedule of Intangible Assets Net (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Finite Lived Intangible Assets [Line Items]
Intangible assets, gross	$ 15,040	$ 14,815
Accumulated amortization	(12,971)	(10,326)
Intangible assets, net	2,069	4,489
Internal use software
Finite Lived Intangible Assets [Line Items]
Intangible assets, gross	9,377	10,022
Purchased intangibles
Finite Lived Intangible Assets [Line Items]
Intangible assets, gross	$ 5,663	$ 4,793

Balance Sheets Components - Schedule of Future Amortization Expense for Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Finite Lived Intangible Assets Future Amortization Expense Current And Five Succeeding Fiscal Years [Abstract]
2021	$ 1,267
2022	543
2023	259
Intangible assets, net	$ 2,069	$ 4,489

Balance Sheets Components - Schedule of Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Aug. 04, 2020	Dec. 31, 2019
Payables And Accruals [Abstract]
Accrued payroll and related benefits	$ 5,362		$ 1,880
Accrued customer rebates	380		218
Accrued interest			72
Price adjustment and other revenue reserves	3,063		1,222
Short term lease liability	$ 1,264		$ 1,874
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	sitm:ShortTermLeaseLiabilityMember		sitm:ShortTermLeaseLiabilityMember
Other accrued expenses	$ 2,894		$ 3,176
Total accrued expenses and other current liabilities	$ 12,963	$ 1,200	$ 8,442

Leases - Additional Information (Details) - USD ($)	12 Months Ended
Leases - Additional Information (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Lease Disclosure [Line Items]
Cash paid for operating lease liabilities	$ 2,300,000	$ 3,900,000
Sublease income		$ 100,000
Leases not yet commenced	Company had two leases in Japan for a total cost of less than $0.1 million that had not yet commenced
Lease Equipment
Lease Disclosure [Line Items]
Lease term	10 years
Lease equipment			$ 3,200,000
Corporate Headquarters
Lease Disclosure [Line Items]
Operating lease commencement date	Oct. 20, 2016
Lease term expiration date	Dec. 31, 2026
Operating lease, renewal term	5 years
Office Space
Lease Disclosure [Line Items]
Lease term expiration date	Dec. 31, 2022
Lease option to extend	The remaining lease terms vary from few months to 6 years. For its leases the Company has options to extend the lease term for periods varying from one to five years.
Option to extend	true
Office Space \| Maximum
Lease Disclosure [Line Items]
Operating lease, renewal term	5 years
Lease term	6 years
Office Space \| Minimum
Lease Disclosure [Line Items]
Operating lease, renewal term	1 year
Japan \| Maximum
Lease Disclosure [Line Items]
Lessee operating lease, lease not yet commenced total cost	$ 100,000

Leases - Summary of Lease Related Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Right-of-use assets, net	$ 8,892	$ 9,790
Lease liabilities included in accrued expenses and other current liabilities	1,264	1,874
Lease liabilities - non-current	6,986	7,940
Total operating lease liabilities	$ 8,250	$ 9,814
Weighted-average remaining lease term (years)	5 years 10 months 24 days	7 years 1 month 6 days
Weighted-average discount rate	4.20%	4.10%

Leases - Summary of Lease Costs (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Operating lease cost	$ 1,696	$ 1,419
Short-term lease cost	356	313
Variable lease cost	332	494
Total lease cost	$ 2,384	$ 2,226

Leases - Summary of Undiscounted Cash Flows (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
2021	$ 1,453
2022	1,596
2023	1,489
2024	1,532
2025	1,580
2026 and beyond	1,615
Total minimum lease payments	9,265
Less: amount of lease payments representing interest	(1,015)
Total operating lease liabilities	8,250	$ 9,814
Less: current obligations under leases	(1,264)	(1,874)
Long-term lease liabilities	$ 6,986	$ 7,940

Commitments and Contingencies - Additional Information (Details) $ in Millions	12 Months Ended
	Dec. 31, 2020 USD ($)
Commitments And Contingencies Disclosure [Abstract]
Purchase commitment	$ 2.1

Debt Obligations - Additional Information (Details) - USD ($)					12 Months Ended
	Jul. 24, 2020	Sep. 22, 2017	Sep. 13, 2016	Aug. 31, 2015	Dec. 31, 2020	Dec. 31, 2019	Sep. 21, 2018	Jun. 29, 2018
Line Of Credit Facility [Line Items]
Weighted average interest rate on short term borrowings outstanding						1.42%
Loan Amount						$ 41,000,000
Repayment of outstanding loan					$ 76,000,000	2,000,000
MUFG
Line Of Credit Facility [Line Items]
Loan Amount						$ 41,000,000
Line of credit guarantee termination date					Jun. 30, 2020
MegaChips
Line Of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity			$ 30,000,000
Interest rate			0.09%
Debt instrument, term			3 months
Revolving line of credit closing date					Dec. 31, 2020
Minimum \| MUFG
Line Of Credit Facility [Line Items]
Debt instrument, maturity						1 month
Interest rate						1.01%
Maximum \| MUFG
Line Of Credit Facility [Line Items]
Debt instrument, maturity						1 year
Interest rate						4.07%
Revolving Line of Credit \| MUFG
Line Of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity				$ 20,000,000				$ 50,000,000
Loan Amount						$ 139,000,000
Interest rate				2.00%
Repayment of outstanding loan	$ 35,000,000
Line of credit prepaid amount	12,000,000
Line of credit, prepayment penalties	$ 100,000
Line of credit					$ 50,000,000
Revolving Line of Credit \| SMBC
Line Of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity		$ 20,000,000
Debt instrument, maturity		12 months
Interest rate		1.00%
Line of credit facility closing date					2020-09
Financial covenant for minimum net worth		$ 0
Revolving Line of Credit \| Maximum \| SMBC
Line Of Credit Facility [Line Items]
Debt instrument, principal amount							$ 20,000,000

Debt Obligations - Schedule of Long Term Debt (Details) $ in Thousands	Dec. 31, 2019 USD ($)
Debt Instrument [Line Items]
Short term portion of total debt	$ 41,000
Less: Current portion of long-term debt	(41,000)
MUFG
Debt Instrument [Line Items]
Short term portion of total debt	$ 41,000

- Definition

The carrying value as of the balance sheet date of the current portion of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement.

+ References + Details

Debt Obligations - Schedule of Debt Obligations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Loan Amount		$ 41,000
MUFG
Debt Instrument [Line Items]
Loan Amount		$ 41,000
MUFG \| 2.97000% Loan Maturing on 6/10/2020
Debt Instrument [Line Items]
Loan Start Date		Dec. 19, 2019
Loan Amount		$ 38,000
Annual Interest Rate		2.97%
Maturity Date		Jun. 10, 2020
MUFG \| 3.10000% Loan Maturing on 2/19/2020
Debt Instrument [Line Items]
Loan Start Date		Aug. 23, 2019
Loan Amount		$ 3,000
Annual Interest Rate		3.10%
Maturity Date		Feb. 19, 2020
MUFG \| 3.10% Loan Maturing on 2/19/2020
Debt Instrument [Line Items]
Loan Start Date	Aug. 23, 2019
Loan Amount	$ 3,000
Annual Interest Rate	3.10%
Maturity Date	Feb. 19, 2020
MUFG \| 2.97% Loan Maturing on 06/10/2020
Debt Instrument [Line Items]
Loan Start Date	Dec. 19, 2019
Loan Amount	$ 38,000
Annual Interest Rate	2.97%
Maturity Date	Jun. 10, 2020
MUFG \| 2.46% Loan Maturing on 09/21/2020
Debt Instrument [Line Items]
Loan Start Date	Mar. 23, 2020
Loan Amount	$ 3,000
Annual Interest Rate	2.46%
Maturity Date	Sep. 21, 2020
MUFG \| 2.37% Loan Maturing on 3/24/2021
Debt Instrument [Line Items]
Loan Start Date	Mar. 24, 2020
Loan Amount	$ 9,000
Annual Interest Rate	2.37%
Maturity Date	Mar. 24, 2021
MUFG \| 1.39% Loan Maturing on 6/24/2020
Debt Instrument [Line Items]
Loan Start Date	Jun. 10, 2020
Loan Amount	$ 23,000
Annual Interest Rate	1.39%
Maturity Date	Jun. 24, 2020
MUFG \| 1.45% Loan Maturing on 7/24/2020
Debt Instrument [Line Items]
Loan Start Date	Jun. 24, 2020
Loan Amount	$ 23,000
Annual Interest Rate	1.45%
Maturity Date	Jul. 24, 2020

Stockholders' Equity - Additional Information (Details) - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Oct. 16, 2019
Equity [Abstract]
Common stock, shares authorized	200,000,000	200,000,000	200,000,000
Common stock, par value	$ 0.0001	$ 0.0001	$ 0.0001
Common stock, voting rights	one vote

Stock-based Compensation - Additional Information (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Nov. 30, 2019	Dec. 31, 2020	Dec. 31, 2019	Aug. 04, 2020
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Accrued expenses and other current liabilities		$ 12,963	$ 8,442	$ 1,200
Issued of common stock		657,201
Fair value of shares vested		$ 43,700
Minimum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage actual payouts				119.00%
Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage actual payouts				144.00%
Restricted Stock Units RSU
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Awards granted		682,517	3,012,399
Unrecognized compensation costs		$ 57,600
Time-based Restricted Stock Awards
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Awards granted			3,000,000
Time-based Restricted Stock Awards \| Minimum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period			2 years
Time-based Restricted Stock Awards \| Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period			5 years
Cash Restricted Stock Unit Award CRSU
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Awards granted		11,844
Fair value of shares vested		$ 900
Liability-based Awards
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized compensation costs		$ 600
Unrecognized compensation cost is expected weighted average period		5 months 8 days
Equity Awards
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized compensation cost is expected weighted average period		3 years 9 months 18 days
New Hires \| Cash Restricted Stock Unit Award CRSU
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period		1 year
2019 Stock Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock, capital shares reserved for future issuance	3,400,000	300,000
Vesting period	4 years

Stock-based Compensation - Schedule of Activity of RSUs Granted (Details) - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Restricted Stock Units RSU
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of Shares, Beginning Balance	2,989,322
Number of Shares, Granted	682,517	3,012,399
Number of Shares, Vested	(766,934)	(23,077)
Number of Shares, Forfeited	(169,199)
Number of Shares, Ending Balance	2,735,706	2,989,322
Grant Date Fair Value per share, Beginning Balance	$ 13.00
Grant Date Fair Value per share, Granted	53.42	$ 13.00
Grant Date Fair Value per share, Vested	15.46	13.00
Grant Date Fair Value per share, Forfeited	13.72
Grant Date Fair Value per share, Ending Balance	$ 22.35	$ 13.00
Cash Restricted Stock Unit Award CRSU
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of Shares, Granted	11,844
Number of Shares, Vested	(11,220)
Number of Shares, Ending Balance	624
Grant Date Fair Value per share, Granted	$ 48.62
Grant Date Fair Value per share, Vested	49.37
Grant Date Fair Value per share, Ending Balance	$ 35.05

Stock-based Compensation - Schedule of Total Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense	$ 16,966	$ 1,379
Equity Awards
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense	14,816	1,379
Equity Awards \| Cost of Revenue
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense	613	36
Equity Awards \| Research and Development
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense	4,682	346
Equity Awards \| Selling, General and Administrative Expenses
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense	9,521	997
Liability Based Awards - Equity Settled
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense	1,193
Liability Based Awards - Equity Settled \| Research and Development
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense	445
Liability Based Awards - Equity Settled \| Selling, General and Administrative Expenses
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense	748
Liability Based Awards - Cash Settled
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense	957
Liability Based Awards - Cash Settled \| Cost of Revenue
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense	264
Liability Based Awards - Cash Settled \| Research and Development
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense	415
Liability Based Awards - Cash Settled \| Selling, General and Administrative Expenses
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense	278
Equity Awards and Liability Based Awards - Equity Settled
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense	$ 16,009	$ 1,379

Income Taxes - Schedule of Components of Income (Loss) Before Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
United States	$ (9,645)	$ (6,485)
Foreign	274	(130)
Loss before income taxes	$ (9,371)	$ (6,615)

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Name Accounting Standards Codification
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-Name Accounting Standards Codification
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-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
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-Name Accounting Standards Codification
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 9: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
-Topic 942
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-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(15))
-URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

+ Details

Income Taxes - Schedule of Components of Income Tax (Expense) Benefit (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
United States	$ (1)	$ 8
Income tax (expense) benefit	$ (1)	$ 8

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Income Taxes - Schedule of Components of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Deferred tax assets:
Accrual, write-down and other	$ 3,249	$ 2,469
Depreciation and amortization, assets	257	76
Net operating loss and credits carry forwards	52,445	42,949
Total gross deferred tax assets	55,951	45,494
Valuation allowance	$ (55,951)	$ (45,494)

Income Taxes - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Change in valuation allowance	$ 10,500
Federal net operating loss carry-forwards	201,500	$ 156,500
State net operating loss carry-forwards	64,000	63,700
Foreign net operating loss carry-forwards	$ 2,200	1,300
Federal net operating loss carry-forwards expiration year	2025
State net operating loss carry-forwards expiration year	2028
Foreign net operating loss carry-forwards expiration year	2028
Federal research and development tax credit carry-forwards	$ 3,900	3,900
State research and development tax credit carry-forwards	$ 3,600	3,600
Expiration of federal tax credits	2025
Total federal net operating loss carryforward	$ 55,700
Unrecognized tax benefits	$ 2,436	$ 2,184	$ 2,198

Income Taxes - Schedule of Reconciliation of Effective Tax Rate (Details)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
US Federal Rate	21.00%	21.00%
R&D Credits		(10.90%)
Permanent differences and others	90.40%	(18.30%)
Change in valuation allowance	(111.40%)	8.20%
Effective income tax rate	0.00%	0.00%

Income Taxes - Schedule of Reconciliation of Unrecognized Tax Benefit (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Beginning balance	$ 2,184	$ 2,198
Decrease in balance related to tax position taken during prior periods		(14)
Increase in balance related to tax position taken during the current period	252
Ending balance	$ 2,436	$ 2,184

Income Taxes - Schedule of Tax Years Examination By Major Tax Jurisdictions (Details)	12 Months Ended
	Dec. 31, 2020
U.S. Federal
Income Tax Examination [Line Items]
Earliest Tax Year Subject to Examination	2005
Foreign Tax Authority \| California State
Income Tax Examination [Line Items]
Earliest Tax Year Subject to Examination	2008
Foreign Tax Authority \| Michigan State
Income Tax Examination [Line Items]
Earliest Tax Year Subject to Examination	2019

401(k) Plan - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Compensation And Retirement Disclosure [Abstract]
Maximum pre-tax contribution per employee	90.00%
Matching contributions	$ 0.6	$ 0.6

Segment Information and Operations by Geographic Area - Additional Information (Details) - Segment	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Segment Reporting [Abstract]
Number of reportable segments	1
Percentage of long lived assets	97.00%	97.00%

Segment Information and Operations by Geographic Area - Schedule of Revenue by Country (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Segment Reporting Information [Line Items]
Revenue	$ 116,156	$ 84,074
Revenue from Contract with Customer Benchmark \| Geographic Concentration Risk
Segment Reporting Information [Line Items]
Revenue	116,156	84,074
Taiwan \| Revenue from Contract with Customer Benchmark \| Geographic Concentration Risk
Segment Reporting Information [Line Items]
Revenue	55,789	39,060
Hong Kong \| Revenue from Contract with Customer Benchmark \| Geographic Concentration Risk
Segment Reporting Information [Line Items]
Revenue	30,306	16,534
United States \| Revenue from Contract with Customer Benchmark \| Geographic Concentration Risk
Segment Reporting Information [Line Items]
Revenue	8,522	5,677
Other \| Revenue from Contract with Customer Benchmark \| Geographic Concentration Risk
Segment Reporting Information [Line Items]
Revenue	$ 21,539	$ 22,803

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 4
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130543-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130545-203045

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 924
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-URI http://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details

Related Party Transactions - Additional Information (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Related Party Transaction [Line Items]
Property and equipment, net	$ 11,708	$ 9,288
MegaChips \| Equipment
Related Party Transaction [Line Items]
Property and equipment, net	$ 100
MegaChips \| SiTime Corporation
Related Party Transaction [Line Items]
Percentage of outstanding common stock held	43.70%	66.80%
MegaChips Taiwan Corporation \| Equipment
Related Party Transaction [Line Items]
Property and equipment, net	$ 100

Related Party Transactions - Summary of Significant Balances, Transactions and Payments with Related Parties and Affiliates (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Related Party Transaction [Line Items]
Related party accounts receivable	$ 736	$ 1,073
MegaChips
Related Party Transaction [Line Items]
Related party accounts receivable	736	1,073
Property and equipment, net	209
Accounts payable		220
Sales through distribution agreement	5,714	5,071
License expense	148	158
Commission expense	228	202
Interest expense		94
Cash paid for principal		3,000
Cash paid for equipment	209
Cash paid for interest		94
Cash paid for commissions	228	202
Cash paid for licenses	25	$ 329
Affliates
Related Party Transaction [Line Items]
Consulting fees	380
Cash paid for consulting fees	$ 380

Schedule II - Valuation and Qualifying Accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Allowance for Credit Losses
Valuation And Qualifying Accounts Disclosure [Line Items]
Balance at Beginning of Period	$ 129	$ 168
Deductions Credited to Expenses or Other Accounts	(79)	(39)
Balance at End of Period	50	129
Deferred Tax Valuation Allowance
Valuation And Qualifying Accounts Disclosure [Line Items]
Balance at Beginning of Period	45,494	45,496
Additions Charged to Expenses or Other Accounts	10,457
Deductions Credited to Expenses or Other Accounts		(2)
Balance at End of Period	$ 55,951	$ 45,494