CEVA(CEVA) - 2024 Q4 - Annual Results

Revenue Growth - Total revenue for Q4 2024 was $29.2 million, a 21$24.2 million in Q4 2023[7] - Total revenue for the full year 2024 was $106.9 million, an increase of 10$97.4 million in 2023[13] - Royalty revenue for Q4 2024 was $13.5 million, up 9$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]