CEVA Inc

NASDAQ:CEVAUnited States

May 9, 2024

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• -- Earnings Flash (CEVA) CEVA Posts Q1 Revenue $22.1M, from 7:15AM ET on Thursday May 09, 2024 by MT Newswires

  7:15AM ET on Thursday May 09, 2024 by MT Newswires
  Companies Mentioned: CEVA
  07:15 AM EDT, 05/09/2024 (MT Newswires) -- ...

• Ceva, Inc. Announces First Quarter 2024 Financial Results, from 7:00AM ET on Thursday May 09, 2024 by PR Newswire

  7:00AM ET on Thursday May 09, 2024 by PR Newswire
  Companies Mentioned: CEVA

  Royalty revenue of $10.7 million, up 33% year-over-year, generated from 371 million shipped units, up 25% year-over-year

  11 license agreements concluded in the quarter, across all key target markets, including strategic deals for next-generation Wi-Fi 7 and Bluetooth 6 IPs

• Ceva, Inc. Announces First Quarter 2024 Financial Results, from 7:00AM ET on Thursday May 09, 2024 by Dow Jones

  7:00AM ET on Thursday May 09, 2024 by Dow Jones
  Companies Mentioned: CEVA
  GAAP Gross Margin 89 % 87 % Equity-based compensation expense included in cost of revenues 203 206 Amortization of intangible assets 128 70 Total Non-GAAP Gross profit 19,900 23,030 Non-GAAP Gross Margin 90 % 88 % Ceva, Inc. AND ITS SUBSIDIARIES INTERIM CONDENSED CONSOLIDATED BALANCE SHEETS (U.S. Dollars in thousands) March 31, December 31, 2024 2023 (*) --------- -------------- Unaudited Unaudited --------- -------------- ASSETS Current assets: Cash and cash equivalents $ 21,222 $ 23,287 Marketable securities and short-term bank deposits 137,532 143,251 Trade receivables, net 14,052 8,433 Unbilled receivables 19,583 21,874 Prepaid expenses and other current assets 13,378 12,526 Total current assets 205,767 209,371 --------- -------------- Long-term assets: Severance pay fund 6,897 7,070 Deferred tax assets, net 1,239 1,609 Property and equipment, net 7,157 6,732 Operating lease right-of-use assets 6,704 6,978 Investment in marketable equity securities 346 406 Goodwill 58,308 58,308 Intangible assets, net 2,689 2,967 Other long-term assets 12,332 10,644 --------- -------------- Total assets $ 301,439 $ 304,085 ========= ============== LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Trade payables $ 1,804 $ 1,154 Deferred revenues 2,479 3,018 Accrued expenses and other payables 19,838 20,202 Operating lease liabilities 2,634 2,513 --------- -------------- Total current liabilities 26,755 26,887 Long-term liabilities: Accrued severance pay 7,339 7,524 Operating lease liabilities 3,525 3,943 Other accrued liabilities 1,471 1,390 Total liabilities 39,090 39,744 --------- -------------- Stockholders' equity: Common stock 24 23 Additional paid in-capital 252,927 252,100 Treasury stock (2,528) (5,620) Accumulated other comprehensive loss (2,720) (2,329) Retained earnings 14,646 20,167 Total stockholders' equity 262,349 264,341 --------- -------------- Total liabilities and stockholders' equity $ 301,439 $ 304,085 ========= ============== (*) Derived from audited financial statements.