Press release
CEVA, Inc. Announces First Quarter 2020 Financial Results
- Total revenue of $23.6 million, up 39% year-over-year - Robust licensing environment: licensing revenue of $14.5 million, up 32% year-over-year - Growing 5G
About this update from Ceva, Inc.
[{"type":"text","content":"- Total revenue of $23.6 million, up 39% year-over-year\n - Robust licensing environment: licensing revenue of $14.5 million, up 32% year-over-year\n - Growing 5G penetration: agreements signed for 5G phase II RAN, fixed wireless access and wireless backhaul\n\n\nMOUNTAIN VIEW, Calif., May 11, 2020 /PRNewswire/ -- CEVA, Inc. (NASDAQ: CEVA), the leading licensor of wireless connectivity and smart sensing technologies, today announced its financial results for the first quarter ended March 31, 2020.\n\n \n \n \n \n \n \n\n \nTotal revenue for the first quarter of 2020 was $23.6 million, a 39% increase compared to $17.0 million reported for the first quarter of 2019. First quarter 2020 licensing and related revenue was $14.5 million, an increase of 32% when compared to $11.0 million reported for the same quarter a year ago. Royalty revenue for the first quarter of 2020 was $9.1 million, an increase of 53% when compared to $6.0 million reported for the first quarter of 2019. \nThirteen license agreements were completed during the quarter, of which three were for smart sensing products and ten were for connectivity products. Three of the agreements were with first time customers. Customers' target markets include 5G for base station RAN, 5G fixed wireless access and 5G backhaul, Wi-Fi 6 for IoT devices, true wireless stereo earbuds, vision and AI for drones, and voice assistants for a range of smart home and IoT devices. Geographically, four of the deals signed were in China, four were in Europe, three were in the U.S. and two were in the APAC region, including Japan.\nGideon Wertheizer, CEO of CEVA, stated: \"We are extremely proud of our performance during the first quarter, despite the wide scale lockdowns and disruptions our customers are facing as a result of COVID-19. Our licensing activities continue to expand, and we are experiencing strong interest in particular for our 5G, Wi-Fi 6 and sensing technologies. Our royalty revenue performance demonstrates the strength of an increasingly diversified customer base, with IoT products and the introduction of a new low cost flagship smartphone offsetting the impact of supply chain disruptions in China during the first quarter. We continue to execute on our strategy and drive new product developments as we believe that these investments present further growth opportunities as the indu...