Press release
CEVA, Inc. Announces Fourth Quarter and Full Year 2022 Financial Results
- Full year – Record revenue of $134.6 million, up 10% year-over-year, driven by record licensing, NRE and related revenue of $89.3 million, up 23%
About this update from Ceva, Inc.
[{"type":"text","content":"- Full year – Record revenue of $134.6 million, up 10% year-over-year, driven by record licensing, NRE and related revenue of $89.3 million, up 23% year-over-year- Full year – Record 1.7 billion CEVA-powered devices sold around the world- Q4 – Total revenue of $33.4 million, down 2% year-over-year- Q4 – Licensing, NRE and related revenue up 5% year-over-year to $22.5 million,- Q4 – Strategic deals signed with global automotive semiconductor for Ultra-Wideband digital car key platform and with world leading wearable audio OEM for 3D spatial audio headsets\nROCKVILLE, Md., Feb. 15, 2023 /PRNewswire/ -- CEVA, Inc. (NASDAQ: CEVA), the leading licensor of wireless connectivity and smart sensing technologies and co-creation solutions, today announced its financial results for the fourth quarter and full year ended December 31, 2022.\n\n \n \n \n \n \n \n\n \nWe are pleased to finish a strong year with a solid fourth quarter in a challenging environment.Total revenue for the fourth quarter of 2022 was $33.4 million, a 2% decrease compared to $34.1 million reported for the fourth quarter of 2021. Fourth quarter 2022 licensing, non-recurring engineering (NRE) and related revenue was $22.5 million, an increase of 5% when compared to $21.3 million reported for the same quarter a year ago. Royalty revenue for the fourth quarter of 2022 was $10.9 million, a decrease of 14% when compared to $12.7 million reported for the fourth quarter of 2021.\nAmir Panush, Chief Executive Officer of CEVA, stated: \"We are pleased to finish a strong year with a solid fourth quarter in a challenging environment. Our licensing business underpinned the quarter, highlighted by multiple deals for each of our 5G, Wi-Fi 6 and Bluetooth technologies. We completed multiple important deals during the quarter, including a strategic agreement for our Ultra-Wideband IP with a global leader in automotive semiconductors and a licensing deal for our 3D spatial audio related software with one of the world's largest wearable audio brands. Royalty revenues reflect the broad consumer weakness and elevated inventory levels that affected demand for handsets and across IoT markets.\"\nMr. Panush continued: \"After joining the company at the start of the year, I am encouraged by the strength of our business and its excellent long term growth prospects. Our IP portfolio is unique, a...