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CEVA, Inc.

CEVA, Inc.

NASDAQ•CEVA
CEO: Mr. Amir Panush
Sector: Technology
Industry: Semiconductors
Listing Date: 2002-11-01
CEVA, Inc. provides silicon and software IP solutions to semiconductor and original equipment manufacturer (OEM) companies worldwide. Its 5G mobile and infrastructure products include Ceva-XC vector digital signal processors (DSPs) for 5G handsets, 5G RAN, and general-purpose baseband processing; PentaG-RAN, an open ran platform for base station and radio; and PentaG2 - 5G NR modem platform for UE, as well as for non-handset 5G vertical markets, such as fixed wireless access, industry 4.0, robotics, and AR/VR devices. The company's wireless IoT products comprise RivieraWaves' Bluetooth 5dual mode and low energy platforms, RivieraWaves' Wi-Fi platforms, ultra-wide band platforms, and Cellular IoT and RedCap platforms, as well as sense and inference processors and platforms consist of NeuPro-M neural processing unit (NPU) family; SensPro2 sensor hub AI platforms addressing imaging, vision, powertrain, and applications, including DSP processors, AI accelerators, and a software portfolio; and Ceva-BX1 and Ceva-BX2 audio AI DSPs. Its sensing and audio software comprise RealSpace spatial audio software package; WhisPro speech recognition; ClearVox, a voice front-end software package for voice-enabled devices; and CDNN, a neural network graph compiler that enables AI developers to automatically compile, optimize, and run pre-trained networks onto embedded devices. The company's application software IP are licensed primarily to OEMs who embed it in their system on chip designs. It delivers AI DSPs and NPUs in the form of a hardware description language definition; and offers development platforms, software development kits, and software debug tools, which facilitate system design, debug, and software development. The company licenses its technology through a direct sales force. CEVA, Inc. was formerly known as ParthusCeva, Inc. and changed its name to CEVA, Inc. in December 2003. The company was incorporated in 1999 and is headquartered in Rockville, Maryland.
Contact Information
15245 Shady Grove Road, Suite 400, Rockville, MD, 20850, United States
240-308-8328
www.ceva-ip.com
Market Cap
$621.18M
P/E (TTM)
-146.2
71.6
Dividend Yield
--
52W High
$38.94
52W Low
$18.31
52W Range
37%
3.9
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Weak • 3.9 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2015-2024

Financial Dashboard

Q3 2025 Data

Revenue

$28.38M+4.33%
4-Quarter Trend

EPS

-$0.10-202.99%
4-Quarter Trend

FCF

-$6.29M+41800.00%
4-Quarter Trend

2025 Q2 Earnings Highlights

Key Highlights

Licensing Revenue Expansion H1 2025 licensing revenue reached 30.1M USD, up 4.8% from 28.7M USD, driven by Edge AI and connectivity deals.
Edge AI NPU Adoption Phase Entered broad adoption phase for Edge AI NPUs, securing four strategic NPU licensing agreements in Q2 2025.
Strong Cash and Equivalents Cash and cash equivalents balance increased to 29.1M USD at June 30, 2025, up 57.3% from 18.5M USD at year-end 2024.
Consumer IoT Shipment Growth Consumer IoT shipments grew 16% year-over-year, driven by record high cellular IoT and Wi-Fi 6 shipments in Q2 2025.

Risk Factors

Quarterly Revenue Decline Q2 2025 total revenues fell 9.7% to 25.7M USD from 28.4M USD, primarily due to lower licensing and royalty revenues.
Widening Operating Loss Operating loss widened substantially to 4.5M USD in Q2 2025, compared to 35K USD loss in Q2 2024, reflecting revenue pressure.
Royalty Revenue Weakness H1 2025 royalty revenue declined 8.9% to 19.9M USD, mainly attributed to widespread softness in the lower-end smartphone market.
Increased Operating Costs H1 2025 operating expenses rose 3.4% to 51.8M USD, driven by higher salaries and equity-based compensation expenses.

Outlook

Lowered Revenue Guidance Adopted cautious outlook, lowering 2025 revenue guidance from high-single digits range to low-single digits growth over 2024 revenues.
Expected Royalty Recovery Expect sequential royalty growth throughout 2025 remainder, driven by customer build-up for holiday season and new 5G modem models.
Focus on Smart Edge Markets Intend to capitalize on semiconductor momentum, focusing on Consumer IoT, Automotive, Industrial, and Infrastructure markets for growth.
Sufficient Capital Resources Current cash, deposits, marketable securities, and cash flow from operations provide sufficient capital to fund operations for next 12 months.

Peer Comparison

Revenue (TTM)

ADTRAN Holdings, Inc.ADTN
$1.04B
+14.3%
Ichor Holdings, Ltd.ICHR
$957.34M
+16.9%
ChipMOS TECHNOLOGIES INC.IMOS
$711.69M
+0.9%

Gross Margin (Latest Quarter)

POET Technologies Inc.POET
100.0%
+0.0 pp
Digital Turbine, Inc.APPS
92.0%
+46.5 pp
Arteris, Inc.AIP
89.9%
-0.2 pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
IMOS$812.66M132.10.8%35.5%
AEHR$737.64M-110.6-5.4%7.4%
AIOT$684.56M-17.6-8.6%5.4%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
-1.0%
Flat Growth
4Q Net Income CAGR
N/M
Profitability Shift
Cash Flow Stability
50%
Cash Flow Needs Attention

Research & Insights

Reports
All Years
  • Form 10-Q - Q4 2025

    Period End: Sep 30, 2025|Filed: Nov 10, 2025|Refer to amended data
  • Form 10-Q - Q2 2025

    Period End: Jun 30, 2025|Filed: Aug 11, 2025|
    Revenue: $25.68M-9.7%
    |
    EPS: $-0.15+1119.5%
    Miss
  • Form 10-Q - Q1 2025

    Period End: Mar 31, 2025|Filed: May 8, 2025|
    Revenue: $24.25M+9.8%
    |
    EPS: $-0.14-39.1%
    Miss
  • Form 10-K - FY 2024

    Period End: Dec 31, 2024|Filed: Feb 27, 2025|
    Revenue: $106.94M+9.8%
    |
    EPS: $-0.37+27.5%
    Miss
  • Form 10-Q - Q3 2024

    Period End: Sep 30, 2024|Filed: Nov 8, 2024|
    Revenue: $27.21M+13.0%
    |
    EPS: $0.10-146.2%
    Meet
  • Form 10-Q - Q2 2024

    Period End: Jun 30, 2024|Filed: Aug 8, 2024|
    Revenue: $28.44M+8.7%
    |
    EPS: $-0.01-95.1%
    Miss
  • Form 10-Q - Q1 2024

    Period End: Mar 31, 2024|Filed: May 9, 2024|
    Revenue: $22.07M-16.0%
    |
    EPS: $-0.23+9.5%
    Miss
  • Form 10-K - FY 2023

    Period End: Dec 31, 2023|Filed: Mar 7, 2024|
    Revenue: $97.42M-27.6%
    |
    EPS: $-0.51+49.0%
    Miss