Ceva, Inc. Announces Second Quarter 2025 Financial Results
Ceva (NASDAQ: CEVA) reported Q2 2025 financial results with total revenue of $25.7 million, showing a 6% sequential increase but down from $28.4 million in Q2 2024. The quarter was marked by 4 new NPU licensing deals and 2 strategic automotive IP agreements. The company achieved 488 million Ceva-powered device shipments and surpassed the 20 billion lifetime shipment milestone.
Key financials include licensing revenue of $15.0 million and royalty revenue of $10.7 million. GAAP operating loss was $4.5 million with a net loss of $3.7 million ($0.15 per share). Non-GAAP figures show operating income of $0.8 million and net income of $1.8 million ($0.07 per share). The company repurchased 300,000 shares for approximately $6.2 million during the quarter.
Ceva (NASDAQ: CEVA) ha comunicato i risultati finanziari del 2° trimestre 2025 con ricavi totali di $25.7 milioni, in aumento del 6% rispetto al trimestre precedente ma in calo rispetto ai $28.4 milioni del 2° trimestre 2024. Il trimestre è stato caratterizzato da 4 nuovi accordi di licenza NPU e 2 accordi strategici relativi a IP per il settore automotive. L'azienda ha registrato 488 milioni di dispositivi con tecnologia Ceva e ha superato il traguardo di 20 miliardi di spedizioni cumulative.
I principali dati finanziari includono ricavi da licenze per $15.0 milioni e ricavi da royalty per $10.7 milioni. La perdita operativa GAAP è stata di $4.5 milioni con una perdita netta di $3.7 milioni (pari a $0.15 per azione). I numeri non-GAAP riportano un utile operativo di $0.8 milioni e un utile netto di $1.8 milioni ($0.07 per azione). Durante il trimestre la società ha riacquistato 300.000 azioni per circa $6.2 milioni.
Ceva (NASDAQ: CEVA) informó los resultados financieros del 2T 2025 con ingresos totales de $25.7 millones, un aumento secuencial del 6% pero por debajo de los $28.4 millones del 2T 2024. El trimestre incluyó 4 nuevos acuerdos de licencia NPU y 2 acuerdos estratégicos de IP para automoción. La compañía alcanzó 488 millones de dispositivos con tecnología Ceva y superó el hito de 20.000 millones de envíos acumulados.
Los principales datos financieros incluyen ingresos por licencias de $15.0 millones y por regalías de $10.7 millones. La pérdida operativa GAAP fue de $4.5 millones y la pérdida neta de $3.7 millones ($0.15 por acción). En términos non-GAAP se registraron un resultado operativo de $0.8 millones y un beneficio neto de $1.8 millones ($0.07 por acción). Durante el trimestre la compañía recompró 300,000 acciones por aproximadamente $6.2 millones.
Ceva (NASDAQ: CEVA)는 2025년 2분기 실적을 발표했으며 총매출은 $25.7 million으로 전분기 대비 6% 증가했지만 2024년 2분기의 $28.4 million보다는 감소했습니다. 해당 분기에는 4건의 신규 NPU 라이선스 계약과 2건의 전략적 자동차 IP 계약이 체결되었습니다. 회사는 4억8800만대의 Ceva 탑재 기기 출하를 달성했고 누적 출하 200억대도 돌파했습니다.
주요 재무 항목은 라이선스 수익 $15.0 million과 로열티 수익 $10.7 million입니다. GAAP 영업손실은 $4.5 million, 순손실은 $3.7 million(주당 $0.15)이었습니다. Non-GAAP 기준으로는 영업이익 $0.8 million, 순이익 $1.8 million(주당 $0.07)을 기록했습니다. 분기 동안 회사는 약 $6.2 million에 300,000주를 자사주 매입했습니다.
Ceva (NASDAQ: CEVA) a publié ses résultats du T2 2025 avec un chiffre d'affaires total de $25.7 millions, en hausse séquentielle de 6% mais inférieur aux $28.4 millions du T2 2024. Le trimestre a été marqué par 4 nouveaux accords de licence NPU et 2 accords stratégiques d'IP pour l'automobile. La société a enregistré 488 millions d'appareils propulsés par Ceva et a franchi le cap des 20 milliards d'expéditions cumulées.
Parmi les principaux éléments financiers figurent des revenus de licences de $15.0 millions et des royalties de $10.7 millions. La perte d'exploitation selon les normes GAAP s'est élevée à $4.5 millions et la perte nette à $3.7 millions (soit $0.15 par action). En non-GAAP, le résultat d'exploitation était de $0.8 million et le résultat net de $1.8 million ($0.07 par action). La société a racheté 300 000 actions pour environ $6.2 millions au cours du trimestre.
Ceva (NASDAQ: CEVA) meldete die Finanzergebnisse für Q2 2025 mit einem Gesamtumsatz von $25.7 Millionen, ein sequenzieller Anstieg von 6%, jedoch niedriger als die $28.4 Millionen im Q2 2024. Das Quartal war geprägt von 4 neuen NPU-Lizenzverträgen und 2 strategischen Automotive-IP-Abkommen. Das Unternehmen verzeichnete 488 Millionen Ceva-unterstützte Geräte und überschritt die Marke von 20 Milliarden kumulierten Auslieferungen.
Wesentliche Kennzahlen umfassen Lizenzumsätze von $15.0 Millionen und Royalty-Einnahmen von $10.7 Millionen. Der GAAP-bilanzierte Betriebsverlust betrug $4.5 Millionen, bei einem Nettoverlust von $3.7 Millionen ($0.15 je Aktie). Auf Non-GAAP-Basis wurden ein Betriebsgewinn von $0.8 Millionen und ein Nettogewinn von $1.8 Millionen ($0.07 je Aktie) ausgewiesen. Im Quartal kaufte das Unternehmen 300.000 Aktien für rund $6.2 Millionen zurück.
- Four new NPU agreements signed, indicating growing AI business adoption
- Record shipments in cellular IoT and Wi-Fi 6 segments
- Reached milestone of 20 billion Ceva-powered devices shipped
- 13 IP licensing agreements concluded, including 5 first-time customers
- 6% sequential revenue growth
- Active share repurchase program with 300,000 shares bought back
- Revenue declined 9.5% year-over-year from $28.4M to $25.7M
- GAAP operating loss increased to $4.5M from $0.04M year-over-year
- GAAP gross margin decreased to 86% from 90% year-over-year
- Non-GAAP operating income declined to $0.8M from $4.4M year-over-year
Insights
Ceva's Q2 shows mixed results: 6% sequential revenue growth but year-over-year declines, with promising AI momentum offsetting challenges.
Ceva's Q2 results present a mixed financial picture. Revenue reached
Profitability metrics show concerning trends. GAAP operating loss widened to
The gross margin compression from
The bright spot is AI momentum with four new Neural Processing Unit deals, suggesting Ceva is successfully pivoting toward high-growth markets. The company reached a significant milestone of 20 billion Ceva-powered devices shipped, validating their long-term market penetration. Their strategic moves into automotive with V2X and 4D radar IP agreements position them in promising growth markets.
The share repurchase of 300,000 shares for
Management's outlook for sequential and year-over-year growth in H2 suggests they view Q2 as an inflection point, with AI adoption and connectivity IP demand expected to drive improvement through 2025.
Ceva's strategic pivot to AI is gaining traction with 4 new NPU deals, while their connectivity IP achieves significant market penetration milestones.
Ceva's Q2 results highlight an emerging transformation in their product strategy. The company secured four Neural Processing Unit (NPU) licensing agreements during the quarter, which represents a significant acceleration in their AI business. These NPU deals are particularly noteworthy as edge AI processing becomes essential for modern devices to handle computational tasks locally without constant cloud dependence.
The company's expansion beyond their traditional connectivity focus is evident in their "three pillars" strategy (connect, sense, infer). While connectivity remains their foundation, the growing emphasis on sensing (via 4D radar deals) and inference (via NPU licenses) demonstrates Ceva's adaptation to market shifts toward more intelligent edge devices.
Ceva's market penetration metrics are impressive. The 488 million device shipments in Q2 included record numbers for cellular IoT and Wi-Fi 6 chips. Surpassing 20 billion Ceva-powered devices overall validates their technology's industry adoption and staying power over two decades.
The customer diversification shown in the quarter is strategically important. Of the 13 licensing deals, five were with first-time customers, indicating Ceva's ability to expand their customer base. Four deals with OEMs (Original Equipment Manufacturers) are particularly valuable as these direct relationships with end-product makers can drive higher margins and more strategic positioning compared to pure semiconductor company customers.
The automotive market entry through V2X (Vehicle-to-Everything) and 4D radar IP deals with US companies represents a key growth vector. Automotive design cycles are long but result in high-value, multi-year royalty streams with stringent qualification requirements that create significant barriers to competitive entry.
While Ceva faces market headwinds reflected in the year-over-year revenue decline, their strategic positioning across multiple high-growth technology domains (edge AI, automotive, IoT connectivity) creates multiple paths for recovery and expansion as these markets mature.
- Total revenue of
$25.7 million 6% sequentially - 4 licensing deals signed for NeuPro NPUs, marking pivotal moment for Ceva's AI business
- 2 strategic automotive IP agreements secured with
U.S. companies for V2X and 4D radar - Ceva-powered device shipments of 488 million units in the quarter, including record cellular IoT and Wi-Fi 6 shipments
- Surpassed 20 billion Ceva-powered device milestone, underscoring technology leadership and deep industry partnerships for more than two decades
- Repurchased 300,000 shares of Ceva stock for approximately
$6.2 million
Total revenue for the second quarter of 2025 was
Amir Panush, Chief Executive Officer of Ceva, commented: "We are pleased by the second quarter results, driven by expanded AI licensing deals and good execution across our 3 pillars use cases – connect, sense and infer – coupled with a sequential growth in royalties. Our AI business continues to scale, with four new NPU agreements signed during the quarter - marking a pivotal moment in customer adoption and underscoring the growing demand for our industry-leading edge AI technologies. These wins, along with reaching 20 billion Ceva-powered devices shipped milestone, reinforce Ceva's position as the leader in wireless connectivity IP and as a trusted partner for the smart edge era. Our business is well-positioned to deliver sequential and year-over-year growth in the second half of this year."
During the quarter, 13 IP licensing agreements were concluded, targeting a wide range of end markets and applications, including edge AI NPUs for consumer devices and communications acceleration in cloud infrastructure, vehicle-2-everything (V2X) communications and 4D radar for automotive, Bluetooth for industrial and consumer devices and spatial audio for consumer earbuds and headsets. Five of the deals signed were with first-time customers and four of the deals were with OEM customers.
GAAP gross margin for the second quarter of 2025 was
Non-GAAP gross margin for the second quarter of 2025 was
Yaniv Arieli, Chief Financial Officer of Ceva, added: "Demand for our AI NPUs underpinned our licensing business in the quarter, with total licensing revenue exceeding
Ceva Conference Call
On August 11, 2025, 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 following dial in numbers:
U.S. Participants : Dial 1-844-435-0316 (Access Code : Ceva)- International Participants: Dial +1-412-317-6365 (Access Code: Ceva)
The conference call will also be available live via webcast at the following link: https://app.webinar.net/QYyg6d46Eeb. Please go to the web site at least fifteen minutes prior to the call to register.
For those who cannot access the live broadcast, a replay will be available by dialing +1-877-344-7529 or +1-412-317-0088 (access code: 1439858) from one hour after the end of the call until 9:00 a.m. (Eastern Time) on August 18, 2025. The replay will also be available at Ceva's web site at www.ceva-ip.com.
Forward Looking Statements
This press release contains forward-looking statements that involve risks and uncertainties, as well as assumptions that if they materialize or prove incorrect, could cause the results of Ceva to differ materially from those expressed or implied by such forward-looking statements and assumptions. Forward-looking statements include statements the continued scaling of our AI business, Ceva's positioning as a leader in wireless connectivity IP and a trusted partner for the smart edge era, and expectations regarding sequential growth for the second half of the year. The risks, uncertainties and assumptions that could cause differing Ceva results include: the effect of intense industry competition; the ability of Ceva's technologies and products incorporating Ceva's technologies to achieve market acceptance; Ceva's ability to meet changing needs of end-users and evolving market demands; the cyclical nature of and general economic conditions in the semiconductor industry; Ceva's ability to diversify its royalty streams and license revenues; Ceva's ability to continue to generate significant revenues from the handset baseband market and to penetrate new markets; instability and disruptions related to the ongoing
Non-GAAP Financial Measures
Non-GAAP gross margin for the second quarters of 2025 and 2024 excluded: (a) equity-based compensation expenses of
Non-GAAP operating income for the second quarter of 2025 excluded: (a) equity-based compensation expenses of
Non-GAAP net income and diluted income per share for the second quarter of 2025 excluded: (a) equity-based compensation expenses of
About Ceva, Inc.
At Ceva, we are passionate about bringing new levels of innovation to the smart edge. Our wireless communications, sensing and Edge AI technologies are at the heart of some of today's most advanced smart edge products. From wireless connectivity IPs (Bluetooth, Wi-Fi, UWB and 5G platform IP), to scalable Edge AI NPU IPs and sensor fusion solutions, we have the broadest portfolio of IP to connect, sense and infer data more reliably and efficiently. We deliver differentiated solutions that combine outstanding performance at ultra-low power within a very small silicon footprint. Our goal is simple – to deliver the silicon and software IP to enable a smarter, safer, and more interconnected world. This philosophy is in practice today, with Ceva powering more than 20 billion of the world's most innovative smart edge products from AI-infused smartwatches, IoT devices and wearables to autonomous vehicles and 5G mobile networks.
Our headquarters are in
Ceva is committed to being a responsible and respected global corporate citizen and a more sustainable company in the countries where we have operations and employees. We adhere to our Code of Business Conduct and Ethics and emphasize and focus on environmental controls, resource conservation and recycling and the welfare of our employees.
Ceva: Powering the Smart Edge™
Visit us at www.ceva-ip.com and follow us on LinkedIn, X, YouTube, Facebook, and Instagram.
Ceva, Inc. AND ITS SUBSIDIARIES | ||||
INTERIM CONDENSED CONSOLIDATED STATEMENTS OF LOSS – | ||||
Three months ended | Six months ended | |||
June 30, | June 30, | |||
2025 | 2024 | 2025 | 2024 | |
Unaudited | Unaudited | Unaudited | Unaudited | |
Revenues: | ||||
Licensing and related revenues | $ 15,022 | $ 17,278 | $ 30,064 | $ 28,692 |
Royalties | 10,656 | 11,159 | 19,859 | 21,817 |
Total revenues | 25,678 | 28,437 | 49,923 | 50,509 |
Cost of revenues | 3,549 | 2,933 | 7,036 | 5,436 |
Gross profit | 22,129 | 25,504 | 42,887 | 45,073 |
Operating expenses: | ||||
Research and development, net | 18,758 | 18,758 | 36,367 | 36,749 |
Sales and marketing | 3,322 | 3,095 | 6,771 | 5,911 |
General and administrative | 4,381 | 3,537 | 8,314 | 7,109 |
Amortization of intangible assets | 150 | 149 | 299 | 299 |
Total operating expenses | 26,611 | 25,539 | 51,751 | 50,068 |
Operating loss | (4,482) | (35) | (8,864) | (4,995) |
Financial income, net | 2,121 | 1,406 | 4,221 | 2,663 |
Revaluation of marketable equity securities | (208) | (58) | (262) | (118) |
Income (loss) before taxes on income | (2,569) | 1,313 | (4,905) | (2,450) |
Income tax expense | 1,135 | 1,604 | 2,126 | 3,289 |
Net loss | $ (3,704) | $ (291) | $ (7,031) | $ (5,739) |
Basic and diluted net loss per share | $ (0.15) | $ (0.01) | $ (0.30) | $ (0.24) |
Weighted-average shares used to compute net loss per share (in thousands): | ||||
Basic and diluted | 23,898 | 23,628 | 23,832 | 23,568 |
Unaudited Reconciliation of GAAP to Non-GAAP Financial Measures | ||||
Three months ended | Six months ended | |||
June 30, | June 30, | |||
2025 | 2024 | 2025 | 2024 | |
Unaudited | Unaudited | Unaudited | Unaudited | |
GAAP net loss | $ (3,704) | $ (291) | $ (7,031) | $ (5,739) |
Equity-based compensation expense included in cost of revenues | 166 | 191 | 325 | 394 |
Equity-based compensation expense included in research and development expenses | 2,673 | 2,438 | 5,139 | 4,445 |
Equity-based compensation expense included in sales and marketing expenses | 598 | 451 | 1,164 | 816 |
Equity-based compensation expense included in general and administrative expenses | 1,465 | 820 | 2,597 | 1,816 |
Amortization of intangible assets related to acquisition of businesses | 209 | 278 | 417 | 556 |
Costs associated with asset acquisition | 144 | 252 | 288 | 532 |
Loss associated with the remeasurement of marketable equity securities | 208 | 58 | 262 | 118 |
Non-GAAP net income | $ 1,759 | $ 4,197 | $ 3,161 | $ 2,938 |
GAAP weighted-average number of Common Stock used in computation of diluted net loss and loss per share (in thousands) | 23,898 | 23,628 | 23,832 | 23,568 |
Weighted-average number of shares related to outstanding stock-based awards (in thousands) | 1,763 | 1,482 | 1,690 | 1,421 |
Weighted-average number of Common Stock used in computation of diluted earnings per share, excluding the above (in thousands) | 25,661 | 25,110 | 25,522 | 24,989 |
GAAP diluted loss per share | $ (0.15) | $ (0.01) | $ (0.30) | $ (0.24) |
Equity-based compensation expense | $ 0.19 | $ 0.16 | $ 0.38 | $ 0.32 |
Amortization of intangible assets related to acquisition of businesses | $ 0.01 | $ 0.01 | $ 0.02 | $ 0.02 |
Costs associated with asset acquisition | $ 0.01 | $ 0.01 | $ 0.01 | $ 0.02 |
Loss associated with the remeasurement of marketable equity securities | $ 0.01 | $ 0.00 | $ 0.01 | $ 0.00 |
Non-GAAP diluted earnings per share | $ 0.07 | $ 0.17 | $ 0.12 | $ 0.12 |
Three months ended | Six months ended | |||
June 30, | June 30, | |||
2025 | 2024 | 2025 | 2024 | |
Unaudited | Unaudited | Unaudited | Unaudited | |
GAAP Operating loss | $ (4,482) | $ (35) | $ (8,864) | $ (4,995) |
Equity-based compensation expense included in cost of revenues | 166 | 191 | 325 | 394 |
Equity-based compensation expense included in research and development expenses | 2,673 | 2,438 | 5,139 | 4,445 |
Equity-based compensation expense included in sales and marketing expenses | 598 | 451 | 1,164 | 816 |
Equity-based compensation expense included in general and administrative expenses | 1,465 | 820 | 2,597 | 1,816 |
Amortization of intangible assets related to acquisition of businesses | 209 | 278 | 417 | 556 |
Costs associated with asset acquisition | 144 | 252 | 288 | 532 |
Total non-GAAP Operating Income | $ 773 | $ 4,395 | $ 1,066 | $ 3,564 |
Three months ended | Six months ended | |||
June 30, | June 30, | |||
2025 | 2024 | 2025 | 2024 | |
Unaudited | Unaudited | Unaudited | Unaudited | |
GAAP Gross Profit | $ 22,129 | $ 25,504 | $ 42,887 | $ 45,073 |
GAAP Gross Margin | 86 % | 90 % | 86 % | 89 % |
Equity-based compensation expense included in cost of revenues | 166 | 191 | 325 | 394 |
Amortization of intangible assets related to acquisition of businesses | 59 | 129 | 118 | 257 |
Total Non-GAAP Gross profit | 22,354 | 25,824 | 43,330 | 45,724 |
Non-GAAP Gross Margin | 87 % | 91 % | 87 % | 91 % |
Ceva, Inc. AND ITS SUBSIDIARIES | |||
INTERIM CONDENSED CONSOLIDATED BALANCE SHEETS | |||
( | |||
June 30, | December 31, | ||
2025 | 2024 (*) | ||
Unaudited | Unaudited | ||
ASSETS | |||
Current assets: | |||
Cash and cash equivalents | $ 29,082 | $ 18,498 | |
Marketable securities and short-term bank deposits | 128,422 | 145,146 | |
Trade receivables, net | 11,832 | 15,969 | |
Unbilled receivables | 24,851 | 21,240 | |
Prepaid expenses and other current assets | 14,621 | 15,488 | |
Total current assets | 208,808 | 216,341 | |
Long-term assets: | |||
Severance pay fund | 7,864 | 7,161 | |
Deferred tax assets, net | 1,630 | 1,456 | |
Property and equipment, net | 6,484 | 6,877 | |
Operating lease right-of-use assets | 4,645 | 5,811 | |
Investment in marketable equity securities | 50 | 312 | |
Goodwill | 58,308 | 58,308 | |
Intangible assets, net | 1,460 | 1,877 | |
Other long-term assets | 13,593 | 10,805 | |
Total assets | $ 308,948 | ||
LIABILITIES AND STOCKHOLDERS' EQUITY | |||
Current liabilities: | |||
Trade payables | $ 1,771 | $ 1,125 | |
Deferred revenues | 3,212 | 3,599 | |
Accrued expenses and other payables | 17,749 | 23,207 | |
Operating lease liabilities | 1,610 | 2,598 | |
Total current liabilities | 24,342 | 30,529 | |
Long-term liabilities: | |||
Accrued severance pay | 8,155 | 7,365 | |
Operating lease liabilities | 2,755 | 2,963 | |
Other accrued liabilities | 1,698 | 1,535 | |
Total liabilities | 36,950 | 42,392 | |
Stockholders' equity: | |||
Common stock | 24 | 24 | |
Additional paid in-capital | 267,743 | 259,891 | |
Treasury stock | (5,874) | (3,222) | |
Accumulated other comprehensive income (loss) | 344 | (1,330) | |
Retained earnings | 3,655 | 11,193 | |
Total stockholders' equity | 265,892 | 266,556 | |
Total liabilities and stockholders' equity | $ 308,948 | ||
(*) Derived from audited financial statements. |
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SOURCE Ceva, Inc.
FAQ
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