Business
CEVA, Inc. Announces Fourth Quarter and Year End 2019 Financial Results
- Record quarterly total revenue of $28.3 million, up 32% year-over-year - Record 360 million CEVA-powered devices shipped in fourth quarter, up 45%
About this update from Ceva, Inc.
[{"type":"text","content":"- Record quarterly total revenue of $28.3 million, up 32% year-over-year\n - Record 360 million CEVA-powered devices shipped in fourth quarter, up 45% year-over-year\n - 21 agreements completed in the fourth quarter; 52 completed overall in 2019\n - Record annual licensing revenue of $47.9 million, up 18% year-over-year\n - Strong growth in non-handset baseband royalty revenue of $13 million, up 49% year-over-year\n\n\nMOUNTAIN VIEW, Calif., Feb. 18, 2020 /PRNewswire/ -- CEVA, Inc. (NASDAQ: CEVA), the leading licensor of wireless connectivity and smart sensing technologies, today announced its financial results for the fourth quarter and year ended December 31, 2019.\n\n \n \n\n \nTotal revenue for the fourth quarter of 2019 was a record high $28.3 million, an increase of 32%, when compared to $21.4 million reported for the fourth quarter of 2018. Fourth quarter 2019 licensing and related revenue was a record high $14.8 million, an increase of 40%, when compared to $10.5 million reported for the same quarter a year ago. Royalty revenue for the fourth quarter of 2019 was a record high $13.5 million, an increase of 24%, when compared to $10.9 million reported for the fourth quarter of 2018. \nGideon Wertheizer, Chief Executive Officer of CEVA, stated: \"We are extremely pleased with our outstanding fourth quarter, as we set record highs in licensing and royalties. Our organization showed exceptional performance in executing twenty-one licensing agreements for a record revenue of $14.8 million, including a strategic agreement with a very large smartphone OEM for its in-house cellular modem development. Our record royalty revenue quarter of $13.5 million was driven by new handset launches and seasonal strength together with new production ramps of our non-handset baseband technologies.\"\nMr. Wertheizer continued: \"Our broad and comprehensive product portfolio for wireless connectivity and smart sensing, together with an outstanding effort by our team in 2019, led to an all-time high $47.9 million in licensing revenue and a record fifty-two license agreements signed. Our royalty business grew 5% to $39.3 million, driven by rapid expansion in the non-handset baseband category with 49% year-over-year growth to $13 million, offset by overall maturity in the handset space.\"\nDuring the quarter, CEVA completed twenty-one license agreem...