Financial Data and Key Metrics Changes - Revenue for Q4 2024 increased by 21% to $29.2 million compared to $24.2 million in Q4 2023 [35] - Licensing and related revenue rose by 33% to $15.7 million, accounting for 54% of total revenues [36] - Royalty revenue increased by 9% to $13.5 million, representing 46% of total revenues [36] - Non-GAAP operating income for Q4 was $4.5 million, with non-GAAP operating margins at 15% [39] - GAAP net loss for Q4 was $1.7 million, a significant improvement from a net loss of $8.1 million in Q4 2023 [39] Business Line Data and Key Metrics Changes - Licensing agreements signed in 2024 totaled 43, with 11 deals involving OEMs integrating CEVA's IPs into their products [21] - Royalty shipments reached 623 million units in Q4, marking a 38% increase year-over-year [40] - Wi-Fi shipments grew by 110% year-over-year, while Bluetooth shipments increased by 41% [18][41] - Annual royalties grew by 18%, with total unit shipments reaching 2 billion, a 22% increase year-over-year [22][42] Market Data and Key Metrics Changes - Consumer IoT accounted for 53% of annual royalties, followed by mobile at 32% and industrial IoT at 16% [23] - Smartphone shipments increased by 27% year-over-year, driven by demand for low-end 4G and 5G smartphones [19] - The market for Wi-Fi connectivity is expected to grow significantly, with CEVA's technology being integrated into various IoT applications [12] Company Strategy and Development Direction - CEVA's growth strategy focuses on partnering with customers to address critical technology challenges through a comprehensive IP portfolio [8] - The company aims to maintain leadership in wireless connectivity while expanding its AI product offerings [9] - CEVA is positioned to benefit from the AI super-cycle, with a focus on enabling AI inference processing at the edge [10] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the ongoing shift from cloud-based AI processing to edge devices, which is expected to drive demand for CEVA's technologies [31] - The company anticipates continued growth in Wi-Fi, Bluetooth, and cellular IoT shipments, supported by new licensing agreements [24] - For 2025, CEVA projects revenue growth of 7% to 11%, with a stronger second half of the year [48] Other Important Information - CEVA achieved an all-time high in royalty shipments, surpassing 600 million units for the first time in a single quarter [18] - The company repurchased approximately 375,000 shares for about $8.5 million in 2024 [45] - CEVA's cash and cash equivalents were approximately $164 million as of December 31, 2024 [44] Q&A Session Summary Question: Opportunities for MPU integration in MCUs - Management confirmed that there is a growing trend for MCU players to integrate AI capabilities alongside wireless technology [56] Question: Details on U.S. mobile OEM's 5G modem royalty revenues - Management indicated that the timing and ramp-up of royalty revenues depend on the customer, and they are excited about the opportunity [59] Question: Impact of AI developments in China on CEVA's opportunities - Management noted that innovations in AI, including smaller models, are expected to enhance the demand for edge devices [66] Question: Growth expectations for Wi-Fi penetration - Management expects significant growth in Wi-Fi as customers transition to Wi-Fi 6, with strong demand across various IoT markets [72] Question: Relative growth rates of cell phone modem revenue versus Wi-Fi - Management stated that while they are optimistic about growth across all product lines, specific growth rates are difficult to predict [84] Question: Customization in new licensing deals - Management clarified that current licensing deals do not involve customization, focusing on off-the-shelf technology [99] Question: NeuPro solution deals in the quarter - Management confirmed that there were two deals related to AI applications involving NeuPro and DSP technologies [102]

Core Insights - Ceva reported strong financial performance in Q4 2024, with total revenue of $29.2 million, exceeding analysts' expectations of $27 million, and adjusted EPS of $0.11, reflecting a 10% year-over-year increase [1][3][6] Financial Performance - Total revenue increased by 21% year-over-year from $24.2 million in Q4 2023 to $29.2 million in Q4 2024 [3][6] - Adjusted EPS rose to $0.11, up from $0.10 in the same quarter last year [3] - Royalty revenue reached $13.5 million, a 9.8% increase from $12.3 million in Q4 2023 [3][6] - Licensing revenue surged by 33% to $15.7 million, driven by strategic deals in the 5G modem technology sector [6] - The company recorded shipments of 623 million Ceva-powered units, marking a 38% growth [6] Operational Challenges - Ceva reported a GAAP net loss of $1.7 million for the quarter, an improvement from the $8.1 million loss in the prior year [7] - GAAP gross margin declined to 88% from 91% a year earlier, attributed to increased engineering efforts for key projects [7][8] Strategic Focus - The company is expanding its IP portfolio to address growing demands in AI, 5G, and IoT, enhancing its market position through new licensing agreements and strategic partnerships [5][10] - Ceva's diversified IP portfolio is leveraged across key markets, particularly in Asia Pacific and Europe, to maintain competitive advantage [8] Future Outlook - Management remains optimistic about growth, emphasizing ongoing investment in R&D to enhance technological offerings in AI and connectivity [9][10] - The focus on expanding in high-growth markets like AI, 5G, and IoT is expected to support continued revenue growth and diversification [10]

Financial Data and Key Metrics Changes - Revenue for Q4 2024 increased by 21% to $29.2 million compared to $24.2 million in Q4 2023 [26] - Licensing and related revenue rose by 33% to $15.7 million, accounting for 54% of total revenues [26] - Royalty revenue increased by 9% to $13.5 million, representing 46% of total revenues [27] - GAAP operating income for Q4 was $100,000, marking the first positive quarter in 2024, up from a loss of $2.8 million in the same quarter last year [27] - Non-GAAP net income for Q4 increased by 1210% to $2.7 million, with diluted earnings per share rising to $0.11 [29] Business Line Data and Key Metrics Changes - The company achieved its strongest royalty quarter, with shipments of 623 million units, a 38% increase from Q4 2023 [29] - Wi-Fi shipments grew by 110% year over year, while Bluetooth shipments increased by 41% [30] - For the full year 2024, total unit shipments reached 2 billion, a 22% increase year over year [31] - Annual mobile modem shipments rose by 19% to 340 million units, reflecting strong demand [31] Market Data and Key Metrics Changes - Consumer IoT accounted for 53% of annual royalties, followed by mobile at 32% and industrial IoT at 16% [17] - The company powered a record 1.1 billion Bluetooth devices and 179 million Wi-Fi devices in 2024 [17] - Wi-Fi royalties increased by 175% year over year, driven by higher royalty rates for Wi-Fi 6 products [31] Company Strategy and Development Direction - The company aims to maintain leadership in connectivity and capitalize on the shift from AI inference processing in the cloud to the edge [23] - Strategic partnerships with key customers are expected to drive long-term growth and profitability [10] - The focus on delivering integrated high-value offerings through multi-connect protocols and AI accelerators is central to the company's strategy [24] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the ongoing AI super cycle and its impact on demand for edge devices [8] - The company anticipates continued growth in Wi-Fi, Bluetooth, and cellular IoT shipments, with a strong second half of 2025 expected [34] - The shift towards lower power consumption and reduced latency in AI applications is seen as a pivotal growth driver [23] Other Important Information - The company signed 43 licensing agreements in 2024, with a diverse customer base across multiple industries [15] - The company achieved an all-time high in royalty shipments, marking a significant milestone in its operational performance [13] Q&A Session Summary Question: Opportunities for MPU integration in MCUs - Management confirmed that there is a growing trend for MCU players to integrate AI capabilities alongside wireless technology, indicating potential for future collaborations [40][42] Question: Details on U.S. Mobile OEM licensing agreement - Management stated that they are excited about the potential of the agreement but could not provide specific details on royalty revenues at this time [43] Question: Impact of AI developments on edge opportunities - Management noted that innovations in AI models, such as DeepSeq, are expected to enhance the company's edge capabilities and drive demand for their technologies [48] Question: Wi-Fi growth expectations - Management indicated that they expect significant growth in Wi-Fi as customers transition to Wi-Fi 6, with strong demand across various IoT markets [51][53] Question: Revenue growth expectations for cell phone modems vs. Wi-Fi - Management acknowledged the uncertainty in predicting which segment will grow faster but expressed optimism for growth across all product lines [62][67] Question: Customization in new licensing deals - Management clarified that the new licensing deals do not involve customization and are based on off-the-shelf technologies [74]

Revenue Growth - Total revenue for Q4 2024 was $29.2 million, a 21% increase year-over-year from $24.2 million in Q4 2023[7] - Total revenue for the full year 2024 was $106.9 million, an increase of 10% compared to $97.4 million in 2023[13] - Royalty revenue for Q4 2024 was $13.5 million, up 9% year-over-year, marking the fifth consecutive quarter of royalty revenue growth[5] - Royalty revenue for the full year 2024 was $46.9 million, an 18% increase from $39.9 million in 2023[13] - The company anticipates continued growth in licensing and royalties, with total revenues expected to exceed $110 million for the full year 2025[36] Unit Shipments - A record 623 million Ceva-powered units were shipped in Q4 2024, representing a 38% increase year-over-year[5] - A total of 2 billion Ceva-powered smart edge devices were shipped in 2024, including record shipments of 1.1 billion Bluetooth devices[14] Earnings and Profitability - Non-GAAP diluted earnings per share for Q4 2024 were $0.11, compared to $0.10 in Q4 2023, reflecting a year-over-year increase[11] - Operating income for Q4 2024 was $74, a significant improvement from a loss of $2.8 million in Q4 2023[39] - Net loss from continuing operations for Q4 2024 was $1.7 million, compared to a loss of $8.1 million in Q4 2023[36] - Non-GAAP net income for Q4 2024 was $2.7 million, up from $2.4 million in Q4 2023[38] - GAAP net loss for 2024 was $8.8 million, a reduction from a net loss of $18.4 million in 2023[15] Expenses - Research and development expenses for Q4 2024 totaled $16.9 million, a decrease from $18.1 million in Q4 2023[36] - Equity-based compensation expenses included in total operating expenses were $3.9 million for Q4 2024, compared to $4.1 million in Q4 2023[39] Financial Position - Total assets increased to $308,948 million in 2024 from $304,085 million in 2023, representing a growth of 1.9%[41] - Current assets rose to $216,341 million in 2024, up from $209,371 million in 2023, an increase of 3.4%[41] - Trade receivables, net, significantly increased to $15,969 million in 2024, compared to $8,433 million in 2023, marking an increase of 89.5%[41] - Total current liabilities increased to $30,529 million in 2024, up from $26,887 million in 2023, reflecting a rise of 13.1%[41] - Total liabilities grew to $42,392 million in 2024, compared to $39,744 million in 2023, an increase of 6.6%[41] - Stockholders' equity increased to $266,556 million in 2024 from $264,341 million in 2023, a growth of 0.8%[41] - Retained earnings decreased to $11,193 million in 2024, down from $20,167 million in 2023, a decline of 44.6%[41] - Additional paid-in capital rose to $259,891 million in 2024, compared to $252,100 million in 2023, an increase of 3.1%[41] - Cash and cash equivalents decreased to $18,498 million in 2024 from $23,287 million in 2023, a decline of 20.5%[41] - Treasury stock improved to $(3,222) million in 2024 from $(5,620) million in 2023, indicating a reduction in treasury stock by 42.5%[41] Licensing and Market Strategy - In 2024, Ceva concluded 43 licensing deals, including 11 with OEMs and 9 with first-time customers[14] - The company is focusing on expanding its market presence and investing in new product development to drive future growth[36]

Core Insights - Ceva, Inc. has announced that WUQI Microelectronics has licensed its Ceva-Waves Wi-Fi 6 High-Performance STA IP platform for the WQ9201 Wi-Fi/Bluetooth combo chip, targeting consumer electronics like smartphones and tablets [1][3] - The WQ9201 chip has received the 2024 "China Core" Excellent Technology Innovation Product Award, highlighting its industry recognition [1] - The Ceva-Waves Wi-Fi 6 IP provides WUQI with a compact and low-power hardware modem and MAC accelerator, enabling high throughput and stable wireless transmission [2][3] Company Overview - Ceva, Inc. specializes in silicon and software IP for smart edge devices, focusing on wireless connectivity, sensing, and Edge AI technologies [6][7] - WUQI Microelectronics is a fabless semiconductor company that designs connectivity and edge AI chips, with a product portfolio that includes SoCs for Wi-Fi and Bluetooth [5][6] - Both companies aim to enhance wireless connectivity in consumer electronics, with Ceva's technology enabling WUQI to deliver a competitive Wi-Fi 6 solution [3][4]

Core Insights - Ceva, Inc. has appointed Amir Faintuch as an independent director on its Board of Directors, expanding the board to eight members, with seven being independent [1][2][3] - Amir Faintuch brings extensive experience from leading semiconductor companies, which is expected to provide valuable insights for Ceva's growth and strategy in the smart edge AI sector [3] Company Overview - Ceva, Inc. specializes in silicon and software IP that enhances the connectivity, sensing, and data inference capabilities of smart edge devices [1][4] - The company offers a broad portfolio of IP solutions, including wireless connectivity technologies (Bluetooth, Wi-Fi, UWB, and 5G), scalable Edge AI NPU IPs, and sensor fusion solutions [4] - Ceva's technologies are integrated into over 18 billion smart edge products, including AI-infused smartwatches, IoT devices, wearables, autonomous vehicles, and 5G mobile networks [4] Leadership and Strategy - Amir Faintuch currently serves as the CEO of Volumez and has held senior positions at GlobalFoundries, Intel, and Qualcomm, contributing to his expertise in technology and business [3] - The addition of Faintuch to the board is seen as a strategic move to enhance leadership and drive the company's next phase of growth in the smart edge AI era [3]

Core Viewpoint - Ceva, Inc. will announce its fourth quarter and full year 2024 results on February 13, 2025, before the NASDAQ market opens, followed by a conference call to discuss the operating performance for the quarter [1] Company Overview - Ceva, Inc. is a leading licensor of silicon and software IP that enables Smart Edge devices to connect, sense, and infer data more reliably and efficiently [1] - The company offers a broad portfolio of IP solutions, including wireless connectivity IPs (Bluetooth, Wi-Fi, UWB, and 5G platform IP), scalable Edge AI NPU IPs, and sensor fusion solutions [4] - Ceva powers over 18 billion smart edge products, including AI-infused smartwatches, IoT devices, wearables, autonomous vehicles, and 5G mobile networks [4] Conference Call Details - The conference call will take place at 8:30 a.m. Eastern Time on February 13, 2025, and will be accessible via dial-in numbers and a live webcast [2][8] - A replay of the conference call will be available for those who cannot access the live broadcast, with specific dialing instructions provided [3] Corporate Responsibility - Ceva emphasizes sustainability and environmental consciousness, adhering to a Code of Business Conduct and Ethics, focusing on environmental preservation, recycling, employee welfare, and privacy [6]

Core Insights - Oritek Semiconductor has licensed Ceva's SensPro Vision AI DSP for its Longquan 560 series of ADAS chipsets, enhancing capabilities in the rapidly growing EV market in China and globally [1][2][3] - The Longquan 560 series aims to meet diverse intelligent automotive needs, including AI-based headlights and camera monitoring systems, while reducing development costs and accelerating time-to-market for automakers [2][3] - The global EV market is experiencing significant growth, with China accounting for over 50% of global EV sales, and battery-powered electric vehicles expected to represent 30% of global vehicle sales by 2027 [4] Company Overview - Ceva, Inc. specializes in silicon and software IP for Smart Edge devices, focusing on wireless communications, sensing, and Edge AI technologies [6][8] - The SensPro Vision AI DSP is designed for multitasking sensor processing, supporting various applications in automotive, robotics, and smart home devices [5] - Ceva's technology powers over 17 billion smart edge products, including AI-infused devices and autonomous vehicles, emphasizing performance at ultra-low power [6][8]

- Cyberon and AIZIP collaborate with Ceva to offer pre-optimized AI models for Ceva-NeuPro-Nano Embedded AI NPUs including keyword spotting, face recognition and speaker identification - Expanded collaboration with Edge Impulse includes support for NVIDIA's TAO Toolkit and availability of Edge Impulse Studio integration with Ceva-NeuPro-Nano LAS VEGAS, Jan. 7, 2025 /PRNewswire/ -- CES 2025 -- Ceva, Inc. (NASDAQ: CEVA), the leading licensor of silicon and software IP that enables Smart Edge devices to connec ...

Core Insights - Ceva, Inc. has introduced the Ceva-NeuPro-Nano 32 and 64 MAC NPUs, which are designed for embedded AI workloads, gaining traction in the AIoT and MCU markets with multiple customer wins and an enhanced development studio [1][2][3] Product Features - The Ceva-NeuPro-Nano NPUs provide a unique combination of power, performance, and cost efficiencies, serving as an all-in-one solution for feature extraction, neural network compute, DSP workloads, and control code execution, achieving a Coremark/MHz score of 6.0 [2][3] - The Ceva-NeuPro Studio is an integrated development environment (IDE) that supports multiple open-source AI frameworks, enabling customers to develop, optimize, deploy, and evaluate AI applications on the NPUs [5] Market Position and Achievements - The rapid adoption of Ceva-NeuPro-Nano NPUs reflects the company's commitment to innovation in embedded AI, with significant praise from semiconductor companies for their efficiency and capability to handle complex workloads [3] - Ceva has received two prestigious industry awards: Best IP/Processor of the Year 2024 at the EE Awards Asia and the 2024 IoT Edge Computing Excellence Award, highlighting its leadership in the sector [5] Company Overview - Ceva, Inc. specializes in silicon and software IP for Smart Edge devices, powering over 18 billion smart edge products globally, including AI-infused smartwatches, IoT devices, and autonomous vehicles [4][6]