CEVA(US:CEVA)2025-05-07 13:15Revenue Performance - Total revenue for Q1 2025 was $24.2 million, a 10% increase from $22.1 million in Q1 2024[3] - Licensing and related revenue for Q1 2025 was $15.0 million, up from $11.4 million in the same quarter last year[3] - Royalty revenue for Q1 2025 was $9.2 million, down from $10.7 million in Q1 2024[3] Profitability Metrics - GAAP gross margin for Q1 2025 was 86%, compared to 89% in Q1 2024[5] - GAAP net loss for Q1 2025 was $3.3 million, an improvement from a net loss of $5.4 million in Q1 2024[5] - Non-GAAP net income for Q1 2025 was $1.4 million, compared to a non-GAAP net loss of $1.3 million in Q1 2024[7] Business Development - Eleven IP licensing agreements were concluded in the quarter, including significant deals in Wi-Fi 7 and edge AI technologies[4] - The company powered 420 million devices in the quarter, a 13% increase year-over-year[6] - The CEO highlighted successful implementation of IP in a leading U.S. OEM's in-house 5G modem launched during the quarter[4] Revenue Challenges - The CFO noted a shortfall in royalty revenue due to soft low-cost smartphone shipments and slower product ramp-up from an industrial customer[8] Balance Sheet Highlights - Total current assets increased slightly to $216,985 thousand from $216,341 thousand, reflecting a growth of 0.3%[27] - Unbilled receivables rose to $25,731 thousand, up 21.7% from $21,240 thousand[27] - Total liabilities decreased to $40,859 thousand from $42,392 thousand, a reduction of 3.6%[27] - Retained earnings decreased to $7,359 thousand from $11,193 thousand, a decline of 34.5%[27] - Total stockholders' equity increased to $269,132 thousand from $266,556 thousand, showing a growth of 1.0%[27] - Cash and cash equivalents increased to $18,814 thousand from $18,498 thousand, a rise of 1.7%[27] - Marketable securities and short-term bank deposits decreased to $139,534 thousand from $145,146 thousand, a decline of 3.9%[27] - Trade receivables decreased to $15,088 thousand from $15,969 thousand, a drop of 5.5%[27] - Total assets increased to $309,991 thousand from $308,948 thousand, reflecting a growth of 0.3%[27] - Operating lease liabilities decreased to $2,829 thousand from $2,963 thousand, a reduction of 4.5%[27]