ROCKVILLE, Md., May 23, 2024 /PRNewswire/ -- Ceva, Inc. (NASDAQ: CEVA), the leading licensor of silicon and software IP that enables Smart Edge devices to connect, sense and infer data more reliably and efficiently, today announced that the Ceva management team will participate in the following investor events and conferences:Oppenheimer 25th Annual Israeli ConferenceDate: May 26, 2024Location: David Intercontinental Hotel, Tel AvivTo request at meeting with Ceva, please contact your OPCO representative.Cow ...

CEVA, Inc. (NASDAQ:CEVA) Q1 2024 Earnings Conference Call May 9, 2024 8:30 AM ET Company Participants Richard Kingston - VP, Market Intelligence & Investor and Public Relations Amir Panush - Chief Executive Officer Yaniv Arieli - Chief Financial Officer Conference Call Participants Matt Ramsay - TD Cowen Kevin Cassidy - Rosenblatt Securities David O'Connor - BNP Paribas Operator Good day, and welcome to the CEVA, Inc. First Quarter 2024 Earnings Conference Call. [Operator Instructions] Please note this even ...

Revenue Performance - Total revenues for Q1 2024 were $22.1 million, a decrease of 16% compared to Q1 2023[128]. - Licensing and related revenues were $11.4 million, down 37% year-over-year, accounting for 52% of total revenues[132][133]. - Royalty revenues increased by 33% to $10.7 million, representing 48% of total revenues, with a 25% year-over-year increase in shipment volumes[134][137]. - The five largest customers contributed 45% of total revenues in Q1 2024, up from 43% in Q1 2023[129]. - Total revenues for Q1 2024 were $22.5 million, a decrease of 9% compared to $24.8 million in Q1 2023[138]. Market and Customer Insights - Eleven IP licensing deals were signed in Q1 2024, including strategic agreements for Bluetooth 6 and Wi-Fi 7 technologies[135]. - The addressable market for Bluetooth, Wi-Fi, UWB, and cellular IoT is projected to exceed 15 billion devices annually by 2027[116]. - The company anticipates expanding its customer base and revenues in Europe and the U.S., complementing its presence in APAC[124]. Financial Performance - The company expects overall revenue growth of 4% to 8% in 2024, primarily in the second half of the year[125]. - The infrastructure market remains soft due to low capital expenditures for 5G networks globally[135]. - The first quarter of 2024 included $1.0 million in revenue from a resolved royalty audit, indicating strong royalty performance[134]. Cost and Expenses - Cost of revenues decreased to $2.5 million in Q1 2024, accounting for 11% of total revenues, down from 13% in Q1 2023[139]. - Gross margin improved to 89% in Q1 2024, compared to 87% in Q1 2023, primarily due to lower cost of revenues[140]. - Research and development expenses were $18.0 million in Q1 2024, representing 82% of total revenues, up from 71% in Q1 2023[142]. - Operating expenses totaled $24.5 million in Q1 2024, a decrease from $25.4 million in Q1 2023, mainly due to lower contractor costs[141]. - Sales and marketing expenses were $2.8 million in Q1 2024, representing 13% of total revenues, compared to 10% in Q1 2023[144]. Cash Flow and Investments - Cash used in operating activities for Q1 2024 was $7.3 million, resulting from a net loss of $5.4 million and adjustments for non-cash items of $4.6 million[162]. - As of March 31, 2024, total cash, cash equivalents, bank deposits, and marketable securities amounted to $158.8 million, down from $166.5 million at the end of 2023[158]. - Net cash provided by investing activities for Q1 2024 was $5.1 million, down from $6.5 million in Q1 2023, with a cash outflow of $12.7 million and inflow of $18.9 million from marketable securities[165]. - Net cash provided by financing activities for Q1 2024 was $0.3 million, compared to $1.7 million in Q1 2023, with 56,872 shares repurchased at an average price of $22.48 per share[166]. - Cash received from the exercise of stock-based awards was $1.6 million in Q1 2024, slightly down from $1.7 million in Q1 2023[167]. Investment and Financing Outlook - The company plans to evaluate potential acquisitions and investments, which may require additional financing[168]. - The company expects to have sufficient capital to fund operations for at least the next 12 months, but cannot assure the accuracy of revenue and expense assumptions[167]. Other Financial Metrics - Financial income, net, was $1.26 million in Q1 2024, down from $1.45 million in Q1 2023, with a foreign exchange loss of $0.19 million[146][147]. - The number of research and development personnel decreased to 331 as of March 31, 2024, from 337 a year earlier[142]. - Unrealized losses on investments were approximately $3.5 million as of March 31, 2024, due to changes in the interest rate environment[172]. - Interest income and net gains from marketable securities increased to $1.45 million in Q1 2024 from $1.19 million in Q1 2023, attributed to higher bank deposits and yields[173]. - A foreign exchange loss of $193,000 was recorded in Q1 2024, compared to a gain of $263,000 in the same period of 2023[169]. - The company has 643,128 shares available for repurchase as of March 31, 2024[166].

Exhibit 99.1 Ceva, Inc. Announces First Quarter 2024 Financial Results ● Royalty revenue of $10.7 million, up 33% year-over-year, generated from 371 million shipped units, up 25% year-overyear ● 11 license agreements concluded in the quarter, across all key target markets, including strategic deals for nextgeneration Wi-Fi 7 and Bluetooth 6 IPs ROCKVILLE, MD., May 9, 2024 – Ceva, Inc. (NASDAQ: CEVA), the leading licensor of silicon and software IP that enables Smart Edge devices to connect, sense and infer ...

Ceva (CEVA) came out with a quarterly loss of $0.05 per share versus the Zacks Consensus Estimate of $0.03. This compares to break-even earnings per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -266.67%. A quarter ago, it was expected that this chip designer would post earnings of $0.06 per share when it actually produced earnings of $0.10, delivering a surprise of 66.67%.Over the last four quarters, the company has surpassed c ...

ROCKVILLE, Md., April 17, 2024 /PRNewswire/ -- Ceva, Inc. (NASDAQ: CEVA), the leading licensor of silicon and software IP that enables Smart Edge devices to connect, sense and infer data more reliably and efficiently, will announce results for the first quarter 2024 on May 9, 2024 before the NASDAQ market opens. Following the release, Ceva management will conduct a conference call at 8:30 a.m. Eastern Time to discuss the operating performance for the quarter. The conference call will be available via the fo ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________ to ____________ Commission file number: 000-49842 CEVA, INC. (Exact name of registrant as specified in its charter) Delaware 77-0556376 (State or other jurisdict ...

Mutual customers benefit from integrated offerings combining Arm Neoverse Compute Subsystems with Ceva PentaG-RAN, lowering cost and time-to-market for developing 5G SoCs BARCELONA, Spain, Feb. 28, 2024 /PRNewswire/ -- MWC Barcelona 2024 - Ceva, Inc. (NASDAQ: CEVA), the leading licensor of silicon and software IP that enables Smart Edge devices to connect, sense and infer data more reliably and efficiently, announced today that it has joined Arm Total Design, with the aim of accelerating the development of ...

RivieraWaves® UWB IP for FiRa 2.0, with cutting-edge interference cancelation, extends Ceva's market reach beyond automotive and mobile into high-volume UWB navigation, detection and remote control use cases in the smart home, smart factory and beyondBARCELONA, Spain, Feb. 26, 2024 /PRNewswire/ -- MWC Barcelona 2024 -- Ceva, Inc. (NASDAQ: CEVA), the leading licensor of silicon and software IP that enables Smart Edge devices to connect, sense and infer data more reliably and efficiently, announced today the ...

Financial Data and Key Metrics Changes - For Q4 2023, total revenue was $24.2 million, down from $30.3 million in Q4 2022, with licensing and related revenues at $11.8 million and royalty revenue at $12.3 million, reflecting a year-over-year growth of 13% in royalties [23][24] - Full year 2023 total revenue was $97.4 million, a decrease of 19% compared to 2022, primarily due to a return to a more normal licensing environment [15][16] - GAAP net loss for Q4 2023 was $8.1 million, compared to a net income of $4.5 million in Q4 2022, with diluted loss per share at $0.34 [24][25] Business Line Data and Key Metrics Changes - Licensing revenue for the full year was $57.6 million, down 23%, with 53 licensing agreements signed, including 10 with OEMs integrating IP into their products [15][16] - Royalties for the full year reached $39.8 million, down 12% year-over-year, with mobile and 5G RAN-related royalties down 22% [16][17] - Notable growth in royalties from Bluetooth, Wi-Fi, and cellular IoT business lines, with cellular IoT royalties reaching an all-time high, up 47% year-over-year [27] Market Data and Key Metrics Changes - Consumer IoT accounted for 41% of royalties, mobile for 36%, and industrial IoT for 23% [17] - In Q4 2023, shipped units by CEVA licensees were 453 million, up 21% from Q4 2022, with significant growth in cellular IoT shipments, which were up 82% year-over-year [26] Company Strategy and Development Direction - CEVA has realigned its business to focus on three fundamental use cases for smart edge devices: connect, sense, and infer, targeting mega end markets such as consumer, automotive, industrial, and infrastructure [7][8] - The company aims to achieve a long-term revenue growth of 8% to 12% CAGR over the next four years, focusing on expanding into new markets and use cases [29][30] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the semiconductor industry's recovery in 2024, despite short-term challenges in industrial and automotive markets [21][22] - The company anticipates meaningful royalty revenues from automotive SoCs starting in 2024, driven by new licensing agreements [13][17] Other Important Information - CEVA's cash and cash equivalents as of December 31, 2023, were $166 million, with a share repurchase program in place [28] - The company has implemented cost control measures to maintain overall expense levels flattish in 2024 [30] Q&A Session Summary Question: Guidance for the first quarter and full year - Management expects a revenue decline of 2% to 6% sequentially in Q1 2024, with licensing expected to be higher than Q4 2023 [34][35] Question: Automotive ADAS win details - The deal involved an existing customer who integrated CEVA's AI software compiler into their ADAS chips, enhancing flexibility for their customers [39][40] Question: Trends in licensing and customer programs - Management noted that while 2023 saw inventory corrections causing delays, Q4 2023 showed strong engagement with 17 deals signed across various product categories [44][45] Question: Revenue outlook for consumer IoT and industrial IoT - Management indicated that both segments are expected to contribute positively to revenue growth in 2024, with industrial IoT showing significant potential [49][53] Question: Long-term outlook for mobile market - The mobile market has consolidated, and while growth is uncertain, there are opportunities in low-cost feature phones and other segments [55][57]