Press release
CEVA, Inc. Announces First Quarter 2022 Financial Results
Record total revenue of $34.4 million, up 35% year-over-year Record high licensing, NRE and related revenue contribution of $22.4 million, up 56%
About this update from Ceva, Inc.
[{"type":"text","content":"Record total revenue of $34.4 million, up 35% year-over-year Record high licensing, NRE and related revenue contribution of $22.4 million, up 56% year-over-yearGAAP operating income $0.5 million and Non-GAAP operating income of $5.5 million, compared to GAAP operating loss of $1.3 million and Non-GAAP operating income of $2.7 million for the first quarter of 2021 ROCKVILLE, Md., May 10, 2022 /PRNewswire/ -- CEVA, Inc. (NASDAQ: CEVA), the leading licensor of wireless connectivity and smart sensing technologies and integrated IP solutions, today announced its financial results for the first quarter ended March 31, 2022.\n\n \n \n \n \n \n \n\n \nOur strong first quarter results and performance affirms our dominance in the ubiquitous wireless IP space.Total revenue for the first quarter of 2022 was $34.4 million, a record high and a 35% increase compared to the first quarter of 2021. First quarter 2022 licensing, non-recurring engineering (NRE) and related revenue was $22.4 million, an increase of 56% when compared to $14.4 million reported for the same quarter a year ago. Royalty revenue for the first quarter of 2022 was $12 million, an increase of 9% when compared to $11 million reported for the first quarter of 2021.\nDuring the quarter, fourteen IP license and NRE agreements were concluded, targeting a wide variety of smart and connected markets, including smartphones, smart home, PCs, ADAS, and 5G Low Earth Orbit (LEO) satellite communication. Three agreements were with first-time customers. Geographically, five of the deals signed were in China, four in the U.S., three in APAC, and two in Europe.\nGideon Wertheizer, CEO of CEVA, stated: \"Our strong first quarter results and performance affirms our dominance in the ubiquitous wireless IP space and is the result of our excellence in execution and market reach. Our leading portfolio of wireless and Edge AI technologies provide huge market opportunities to scale our business, as illustrated by our record licensing, NRE and related revenue that grew 56% year-over-year. Our strong fundamentals are also evident through the progress of our royalty business that, despite the China COVID lockdowns which affected many of our customers, reached a new record of 531 million CEVA-powered unit shipments, including share gains in the smartphone space.\"\nGAAP operating income for the first q...