– Overall earnings of $27.2 million, up 13% year-over-year
– Ceva-powered software shipments of 522 million gadgets within the quarter, pushed by way of a report of greater than 400 million Bluetooth, Wi-Fi and cell IoT mixed shipments 
– Strategic licensing offer signed with satellite tv for pc OEM for 5G-Complicated platform and smartphone OEM for Spatial Audio instrument
– First licensing trade in signed for NeuPro-Nano embedded AI NPU concentrated on client AIoT
– Raises monetary steerage for complete 12 months 2024
– Publicizes enlargement of present proportion repurchase program with an backup 700,000 stocks

ROCKVILLE, Md., Nov. 7, 2024 /PRNewswire/ — Ceva, Inc. (NASDAQ: CEVA), the chief licensor of silicon and instrument IP that allows Shrewd Edge units to fix, sense and infer knowledge extra reliably and successfully, lately introduced its monetary effects for the 3rd quarter ended September 30, 2024. Monetary effects for the 3rd quarter ended September 30, 2023, replicate Ceva’s proceeding operations simplest, with the Intrinsix trade mirrored as a discontinued operation, except in a different way famous.

Operational Highlights:

Overall earnings for the 3rd quarter of 2024 was once $27.2 million, up 13% in comparison to $24.1 million reported for the 3rd quarter of 2023. Licensing and alike earnings for the 3rd quarter of 2024 was once $15.6 million, up 12% in comparison to $13.9 million reported for a similar quarter a 12 months in the past. Royalty earnings for the 3rd quarter of 2024 was once $11.6 million, the fourth sequential year-over-year building up, and up 15% in comparison to $10.1 million reported for a similar quarter a 12 months in the past.

Amir Panush, Govt Officer of Ceva, commented: “We delivered another strong performance in the third quarter, driven by double-digit year-over-year revenue growth for both licensing and royalties. We continue to experience exceptional demand for our IP portfolio, as evidenced by strategic OEM customer deals for 5G-Advanced satellite communications and spatial audio for headphones and earbuds. We also achieved a significant milestone in embedded AI, with our first licensing deal signed for our NeuPro-Nano NPU targeting consumer AIoT devices. In royalties, strength in the consumer and industrial markets drove Ceva-powered shipments to the second highest quarter on record, including record combined shipments of Bluetooth, Wi-Fi and cellular IoT devices of more than 400 million units.”  

All the way through the quarter, 10 IP licensing word of honour had been concluded, concentrated on a large area of stop markets and programs, together with embedded AI answers for client AIoT units, 5G-Complicated satellite tv for pc broadband for infrastructure and terminals, 5G for cell IoT and V2X, spatial audio for headphones and TWS earbuds, and Bluetooth, Wi-Fi and UWB connectivity for wearables and hearables. 3 of the offer signed within the quarter had been with OEMs and 3 offer signed had been with first-time shoppers.

GAAP improper margin for the 3rd quarter of 2024 was once 85%, as in comparison to 90% within the 3rd quarter of 2023. GAAP running loss for the 3rd quarter of 2024 was once $2.6 million, as in comparison to a GAAP running lack of $2.7 million for a similar length in 2023. GAAP web loss for the 3rd quarter of 2024 was once $1.3 million, as in comparison to a GAAP web lack of $2.8 million reported for a similar length in 2023. GAAP diluted loss in step with proportion for the 3rd quarter of 2024 was once $0.06, as in comparison to GAAP diluted loss in step with proportion of $0.12 for a similar length in 2023.

GAAP web loss with the discontinued operation for the 3rd quarter of 2023 was once $5.0 million. GAAP diluted loss in step with proportion with the discontinued operation for the 3rd quarter of 2023 was once $0.21.

Non-GAAP improper margin for the 3rd quarter of 2024 was once 87%, as in comparison to 92% for a similar length in 2023. Non-GAAP running source of revenue for the 3rd quarter of 2024 higher 30% to $2.1 million, as in comparison to non-GAAP running source of revenue of $1.6 million reported for the 3rd quarter of 2023. Non-GAAP web source of revenue and diluted source of revenue in step with proportion for the 3rd quarter of 2024 higher 137% and 133% to $3.4 million and $0.14, respectively, in comparison with non-GAAP web source of revenue and diluted source of revenue in step with proportion of $1.4 million and $0.06, respectively, reported for the 3rd quarter of 2023. 

Non-GAAP web source of revenue, together with the discontinued operation for the 3rd quarter of 2023, was once $0.4 million. Non-GAAP diluted source of revenue in step with proportion, together with the discontinued operation for the 3rd quarter of 2023, was once $0.02.

Yaniv Arieli, Monetary Officer of Ceva, mentioned: “Our robust third quarter earnings more than doubled our non-GAAP net income and diluted income per share year-over-year. For the full year, we now expect overall revenues to be higher than previous guidance, at a new range of 7%-9% growth, enabling us to double our non-GAAP fully diluted EPS year-over-year. We continued to buy back the company’s stock during the quarter, repurchasing approximately 186,000 shares for approximately $4.2 million under our stock repurchase program. Furthermore, the Ceva Board of Directors today authorized the expansion of the company’s share repurchase program with an additional 700,000 shares of common stock available for repurchase, bringing the total shares available for repurchase to approximately 1 million. At the end of the quarter, our cash and cash equivalent balances, marketable securities and bank deposits were approximately $158 million, ensuring we are well-positioned to explore opportunities for non-organic growth.”

Ceva Convention Name
On November 7, 2024, Ceva control will behavior a convention name at 8:30 a.m. Japanese Moment to speak about the running efficiency for the quarter.

The convention name will likely be to be had by way of refer to dial in numbers:

• U.S. Individuals : Dial 1-844-435-0316 (Get admission to Code : Ceva)
• Global Individuals: Dial +1-412-317-6365 (Get admission to Code: Ceva)

The convention name can also be to be had reside by way of webcast at refer to hyperlink: https://app.webinar.net/pyMYRB4aBXo. Please exit to the internet website a minimum of fifteen mins previous to the decision to sign in.

For individuals who can not get admission to the reside broadcast, a replay will likely be to be had by way of dialing +1-877-344-7529 or +1-412-317-0088 (get admission to code: 2106460) from one date nearest the top of the decision till 9:00 a.m. (Japanese Moment) on November 14, 2024. The replay can also be to be had at Ceva’s internet website www.ceva-ip.com.

Ahead Taking a look Statements

This press let go accommodates forward-looking statements that contain dangers and uncertainties, in addition to guesses that in the event that they materialize or turn out flawed, may motive the result of Ceva to vary materially from the ones expressed or implied by way of such forward-looking statements and guesses. Ahead-looking statements come with statements referring to buyer call for for Ceva’s IP portfolio, Ceva’s positioning for non-organic expansion given its wave belongings and up to date steerage for the overall 12 months 2024. The hazards, uncertainties and guesses that would motive differing Ceva effects come with: the impact of intense trade pageant; the power of Ceva’s applied sciences and merchandise incorporating Ceva’s applied sciences to reach marketplace acceptance; Ceva’s talent to fulfill converting wishes of end-users and evolving marketplace calls for; the cyclical nature of and basic financial situations within the semiconductor trade; Ceva’s talent to diversify its royalty streams and license revenues; Ceva’s talent to proceed to generate important revenues from the handset baseband marketplace and to penetrate unused markets; instability and disruptions alike to the continuing Israel–Gaza warfare; and basic marketplace situations and alternative dangers in relation to Ceva’s trade, together with, however no longer restricted to, the ones which might be described from moment to moment in our SEC filings. Ceva assumes deny legal responsibility to replace any forward-looking statements or knowledge, which discuss as in their respective dates.

Non-GAAP Monetary Measures

Non-GAAP improper margin for each the 3rd quarter of 2024 and 2023 excluded: (a) equity-based reimbursement bills of $0.2 million and (b) amortization of bought intangibles of $0.1 million.

Non-GAAP running source of revenue for the 3rd quarter of 2024 excluded: (a) equity-based reimbursement bills of $4.2 million, (b) the affect of the amortization of bought intangibles of $0.3 million and (c) $0.3 million of prices related to trade acquisitions.

Non-GAAP running source of revenue for the 3rd quarter of 2023 excluded: (a) equity-based reimbursement bills of $4.0 million, (b) the affect of the amortization of bought intangibles of $0.3 million and (c) $0.1 million of prices related to trade acquisitions.

Non-GAAP web source of revenue and diluted source of revenue in step with proportion for the 3rd quarter of 2024 excluded: (a) equity-based reimbursement bills of $4.2 million, (b) the affect of the amortization of bought intangibles of $0.3 million, (c) $0.3 million of prices related to trade acquisitions and (d) Source of revenue of $0.02 million related to the remeasurement of marketable fairness securities. Non-GAAP web source of revenue and diluted source of revenue in step with proportion for the 3rd quarter of 2023 excluded: (a) equity-based reimbursement bills of $4.0 million, (b) the affect of the amortization of bought intangibles of $0.3 million, (c) $0.1 million of prices related to trade acquisitions and (d) Source of revenue of $0.2 million related to the remeasurement of marketable fairness securities.

Non-GAAP web source of revenue together with the discontinued operation and diluted source of revenue in step with proportion together with the discontinued operation for the 3rd quarter of 2023 excluded: (a) equity-based reimbursement bills of $4.0 million, (b) the affect of the amortization of bought intangibles of $0.3 million, (c) $0.1 million of prices related to trade acquisitions, (d) Source of revenue of $0.2 million related to the remeasurement of marketable fairness securities and (e) $1.2 million loss related to discontinued operations.

About Ceva, Inc.

At Ceva, we’re enthusiastic about bringing unused ranges of innovation to the smart edge. Our wireless communications, sensing and Edge AI applied sciences are on the center of a few of lately’s maximum complex canny edge merchandise. From wi-fi connectivity IPs (Bluetooth, Wi-Fi, UWB and 5G platform IP), to scalable Edge AI NPU IPs and sensor fusion answers, we’ve the broadest portfolio of IP to fix, sense and infer knowledge extra reliably and successfully. We ship differentiated answers that mix remarkable efficiency at ultra-low energy inside an excessively petite silicon footprint. Our function is unassuming – in order the silicon and instrument IP to permit a wiser, more secure, and extra interconnected international. This philosophy is in observe lately, with Ceva powering greater than 18 billion of the arena’s maximum cutting edge canny edge merchandise from AI-infused smartwatches, IoT units and wearables to self reliant automobiles and 5G cell networks.

Our headquarters are in Rockville, Maryland with an international buyer bottom supported by way of operations international. Our workers are a few of the chief mavens of their farmlands of area of expertise, persistently fixing essentially the most advanced design demanding situations, enabling our shoppers to deliver cutting edge canny edge merchandise to marketplace.

Ceva is a sustainability- and environmentally-conscious corporate, adhering to our Code of Trade Behavior and Ethics. As such, we emphasize and concentrate on environmental preservation, recycling, the welfare of our workers and privateness – which we recommend on a company stage. At Ceva, we’re dedicated to social duty, values of preservation and awareness against those functions.

Ceva: Powering the Shrewd Edge™

Seek advice from us at www.ceva-ip.com and apply us on LinkedIn, X, YouTube, Facebook, and Instagram.

SOURCE Ceva, Inc.

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