Typical and the most common uses of 'by the time':
By the time + Present Simple (future meaning)
By the time we GET to the theatre, the play will already have started.
By the time he RECEIVES this letter, we'll be back home.
By the time + Past Simple (past meaning)
By the time we GOT to the theatre, the play had already started.
By the time I FINISHED studying, I was very tired.