Ceva Inc Financials
This page shows Ceva Inc (CEVA) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 17 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
High gross-margin revenue is being overrun by research spending, leaving FY2025 cash support dependent on external financing.
Between FY2024 and FY2025, receivables became the hidden drain: accounts receivable climbed to$49.4M from$37.2M even though sales moved only modestly. That working-capital shift helped turn operating cash flow to-$3.4M from$3.5M , so a small revenue recovery did not become usable internal cash.
With gross margin still at
Solvency is comfortable because liabilities were only
Financial Health Signals
Scored against emerging companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Ceva Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Ceva Inc scores 12.71, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($1.0B) relative to total liabilities ($51.8M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Ceva Inc passes 3 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 2 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, neither operating efficiency signal passes.
For every $1 of reported earnings, Ceva Inc generates $0.32 in operating cash flow (-$3.4M OCF vs -$10.6M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Key Financial Metrics
Earnings & Revenue
Ceva Inc generated $109.6M in revenue in fiscal year 2025. This represents an increase of 2.5% from the prior year.
Ceva Inc's EBITDA was -$7.3M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 87.5% from the prior year.
Ceva Inc reported -$10.6M in net income in fiscal year 2025. This represents a decrease of 21.1% from the prior year.
Ceva Inc earned $-0.44 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 18.9% from the prior year.
Cash & Balance Sheet
Ceva Inc generated -$6.3M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 1316.5% from the prior year.
Ceva Inc held $40.6M in cash against $0 in long-term debt as of fiscal year 2025.
Ceva Inc had 28M shares outstanding in fiscal year 2025. This represents an increase of 16.4% from the prior year.
Margins & Returns
Ceva Inc's gross margin was 87.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 1.0 percentage points from the prior year.
Ceva Inc's operating margin was -10.3% in fiscal year 2025, reflecting core business profitability. This is down 3.3 percentage points from the prior year.
Ceva Inc's net profit margin was -9.7% in fiscal year 2025, showing the share of revenue converted to profit. This is down 1.5 percentage points from the prior year.
Ceva Inc's ROE was -3.2% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 0.1 percentage points from the prior year.
Capital Allocation
Ceva Inc invested $74.8M in research and development in fiscal year 2025. This represents an increase of 4.5% from the prior year.
Ceva Inc spent $7.2M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 15.4% from the prior year.
Ceva Inc invested $2.9M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 1.2% from the prior year.
CEVA Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $27.0M-13.6% | $31.3M+10.2% | $28.4M+10.5% | $25.7M+5.9% | $24.2M-17.0% | $29.2M+7.4% | $27.2M-4.3% | $28.4M |
| Cost of Revenue | $3.7M0.0% | $3.7M+10.0% | $3.4M-4.4% | $3.5M+1.8% | $3.5M+3.4% | $3.4M-14.9% | $4.0M+35.0% | $2.9M |
| Gross Profit | $23.3M-15.5% | $27.6M+10.3% | $25.0M+12.9% | $22.1M+6.6% | $20.8M-19.7% | $25.9M+11.2% | $23.2M-8.9% | $25.5M |
| R&D Expenses | $19.8M+4.8% | $18.9M-3.1% | $19.5M+4.1% | $18.8M+6.5% | $17.6M+4.3% | $16.9M-6.2% | $18.0M-4.1% | $18.8M |
| SG&A Expenses | $4.7M-13.6% | $5.4M+23.1% | $4.4M0.0% | $4.4M+11.4% | $3.9M-23.3% | $5.1M+10.4% | $4.6M+31.2% | $3.5M |
| Operating Income | -$5.1M-1177.6% | -$398K+80.9% | -$2.1M+53.5% | -$4.5M-2.3% | -$4.4M-6021.6% | $74K+102.8% | -$2.6M-7397.1% | -$35K |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax | $1.3M-38.9% | $2.2M+28.7% | $1.7M+47.2% | $1.1M+14.5% | $991K-42.9% | $1.7M+72.3% | $1.0M-37.2% | $1.6M |
| Net Income | -$4.5M-306.1% | -$1.1M+56.2% | -$2.5M+32.3% | -$3.7M-11.3% | -$3.3M-91.6% | -$1.7M-32.4% | -$1.3M-350.5% | -$291K |
| EPS (Diluted) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
CEVA Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $388.2M0.0% | $388.3M+26.9% | $306.0M+1.0% | $302.8M-2.3% | $310.0M+0.3% | $308.9M+1.3% | $304.9M+1.5% | $300.4M |
| Current Assets | $280.9M-1.4% | $284.8M+32.8% | $214.4M+2.7% | $208.8M-3.8% | $217.0M+0.3% | $216.3M+2.7% | $210.7M+1.7% | $207.3M |
| Cash & Equivalents | $21.4M-47.4% | $40.6M+135.0% | $17.3M-40.6% | $29.1M+54.6% | $18.8M+1.7% | $18.5M+39.8% | $13.2M-46.4% | $24.7M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $48.9M-1.0% | $49.4M-0.7% | $49.7M+35.5% | $36.7M-10.1% | $40.8M-17.3% | $49.4M+27.8% | $38.6M+8.3% | $35.7M |
| Goodwill | $58.3M0.0% | $58.3M0.0% | $58.3M0.0% | $58.3M0.0% | $58.3M0.0% | $58.3M0.0% | $58.3M0.0% | $58.3M |
| Total Liabilities | $50.0M-3.4% | $51.8M+38.9% | $37.3M+0.9% | $37.0M-9.6% | $40.9M-3.6% | $42.4M+8.4% | $39.1M+6.8% | $36.6M |
| Current Liabilities | $27.4M-4.6% | $28.7M+16.1% | $24.7M+1.5% | $24.3M-16.4% | $29.1M-4.6% | $30.5M+10.1% | $27.7M+11.0% | $25.0M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $338.2M+0.5% | $336.5M+25.2% | $268.7M+1.1% | $265.9M-1.2% | $269.1M+1.0% | $266.6M+0.3% | $265.8M+0.8% | $263.8M |
| Retained Earnings | -$4.5M-18579.2% | -$24K-102.2% | $1.1M-69.8% | $3.7M-50.3% | $7.4M-34.3% | $11.2M-13.6% | $13.0M-9.2% | $14.3M |
CEVA Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$4.9M-156.0% | $8.7M+248.9% | -$5.9M-595.3% | $1.2M+116.0% | -$7.4M-192.1% | $8.0M+1915.5% | $399K-83.2% | $2.4M |
| Capital Expenditures | $2.3M+55.1% | $1.5M+250.5% | $426K-38.4% | $691K+122.2% | $311K-69.8% | $1.0M+148.6% | $414K-31.9% | $608K |
| Free Cash Flow | -$7.2M-199.6% | $7.2M+215.1% | -$6.3M-1377.4% | $492K+106.4% | -$7.7M-210.0% | $7.0M+46853.3% | -$15K-100.8% | $1.8M |
| Investing Cash Flow | -$15.8M+67.5% | -$48.6M-686.3% | -$6.2M-142.5% | $14.6M+133.5% | $6.2M+550.0% | -$1.4M+85.0% | -$9.2M-399.7% | $3.1M |
| Financing Cash Flow | $1.6M-97.5% | $63.3M+10339.1% | $606K+110.3% | -$5.9M-533.7% | $1.4M+235.8% | -$1.0M+64.9% | -$2.9M-42.7% | -$2.0M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | $0-100.0% | $988K-84.0% | $6.2M | $0-100.0% | $1.0M-76.1% | $4.2M+109.2% | $2.0M |
CEVA Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 86.2%-1.9pp | 88.1%+0.0pp | 88.0%+1.9pp | 86.2%+0.6pp | 85.6%-2.8pp | 88.5%+3.0pp | 85.4%-4.2pp | 89.7% |
| Operating Margin | -18.8%-17.6pp | -1.3%+6.1pp | -7.3%+10.1pp | -17.4%+0.6pp | -18.1%-18.3pp | 0.3%+9.9pp | -9.6%-9.5pp | -0.1% |
| Net Margin | -16.5%-13.0pp | -3.5%+5.3pp | -8.8%+5.6pp | -14.4%-0.7pp | -13.7%-7.8pp | -5.9%-1.1pp | -4.8%-3.8pp | -1.0% |
| Return on Equity | -1.3%-1.0pp | -0.3%+0.6pp | -0.9%+0.5pp | -1.4%-0.1pp | -1.2%-0.6pp | -0.7%-0.2pp | -0.5%-0.4pp | -0.1% |
| Return on Assets | -1.1%-0.9pp | -0.3%+0.5pp | -0.8%+0.4pp | -1.2%-0.2pp | -1.1%-0.5pp | -0.6%-0.1pp | -0.4%-0.3pp | -0.1% |
| Current Ratio | 10.26+0.3 | 9.93+1.3 | 8.68+0.1 | 8.58+1.1 | 7.45+0.4 | 7.09-0.5 | 7.60-0.7 | 8.30 |
| Debt-to-Equity | 0.150.0 | 0.15+0.0 | 0.140.0 | 0.14-0.0 | 0.150.0 | 0.16+0.0 | 0.150.0 | 0.14 |
| FCF Margin | -26.6%-49.8pp | 23.1%+45.3pp | -22.1%-24.1pp | 1.9%+33.7pp | -31.8%-55.8pp | 24.0%+24.1pp | -0.1%-6.3pp | 6.2% |
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Frequently Asked Questions
What is Ceva Inc's annual revenue?
Ceva Inc (CEVA) reported $109.6M in total revenue for fiscal year 2025. This represents a 2.5% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Ceva Inc's revenue growing?
Ceva Inc (CEVA) revenue grew by 2.5% year-over-year, from $106.9M to $109.6M in fiscal year 2025.
Is Ceva Inc profitable?
No, Ceva Inc (CEVA) reported a net income of -$10.6M in fiscal year 2025, with a net profit margin of -9.7%.
What is Ceva Inc's EBITDA?
Ceva Inc (CEVA) had EBITDA of -$7.3M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Ceva Inc's gross margin?
Ceva Inc (CEVA) had a gross margin of 87.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Ceva Inc's operating margin?
Ceva Inc (CEVA) had an operating margin of -10.3% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Ceva Inc's net profit margin?
Ceva Inc (CEVA) had a net profit margin of -9.7% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Ceva Inc's return on equity (ROE)?
Ceva Inc (CEVA) has a return on equity of -3.2% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Ceva Inc's free cash flow?
Ceva Inc (CEVA) generated -$6.3M in free cash flow during fiscal year 2025. This represents a -1316.5% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Ceva Inc's operating cash flow?
Ceva Inc (CEVA) generated -$3.4M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Ceva Inc's total assets?
Ceva Inc (CEVA) had $388.3M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Ceva Inc's capital expenditures?
Ceva Inc (CEVA) invested $2.9M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Ceva Inc spend on research and development?
Ceva Inc (CEVA) invested $74.8M in research and development during fiscal year 2025.
What is Ceva Inc's current ratio?
Ceva Inc (CEVA) had a current ratio of 9.93 as of fiscal year 2025, which is generally considered healthy.
What is Ceva Inc's debt-to-equity ratio?
Ceva Inc (CEVA) had a debt-to-equity ratio of 0.15 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Ceva Inc's return on assets (ROA)?
Ceva Inc (CEVA) had a return on assets of -2.7% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Ceva Inc's cash runway?
Based on fiscal year 2025 data, Ceva Inc (CEVA) had $40.6M in cash against an annual operating cash burn of $3.4M. This gives an estimated cash runway of approximately 145 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
What is Ceva Inc's Altman Z-Score?
Ceva Inc (CEVA) has an Altman Z-Score of 12.71, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Ceva Inc's Piotroski F-Score?
Ceva Inc (CEVA) has a Piotroski F-Score of 3 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Ceva Inc's earnings high quality?
Ceva Inc (CEVA) has an earnings quality ratio of 0.32x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Ceva Inc?
Ceva Inc (CEVA) scores 71 out of 100 on our Financial Health Score, indicating strong standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.