Press release
CEVA, Inc. Announces Second Quarter 2020 Financial Results
- Total revenue of $23.6 million, up 28% year-over-year, record high for second quarter revenue - Royalty revenue of $10.1 million, up 33% year-over-year,
About this update from Ceva, Inc.
[{"type":"text","content":"- Total revenue of $23.6 million, up 28% year-over-year, record high for second quarter revenue\n - Royalty revenue of $10.1 million, up 33% year-over-year, with base station & IoT royalty contribution of $4.3 million, comparable to prior all-time record high\n\n\nMOUNTAIN VIEW, Calif., Aug. 10, 2020 /PRNewswire/ -- CEVA, Inc. (NASDAQ: CEVA), the leading licensor of wireless connectivity and smart sensing technologies, today announced its financial results for the second quarter ended June 30, 2020.\n\n \n \n \n \n \n \n\n \nTotal revenue for the second quarter of 2020 was $23.6 million, a 28% increase compared to $18.4 million reported for the second quarter of 2019. Second quarter 2020 licensing and related revenue was $13.5 million, an increase of 25% when compared to $10.8 million reported for the same quarter a year ago. Royalty revenue for the second quarter of 2020 was $10.1 million, an increase of 33% when compared to $7.6 million reported for the second quarter of 2019. \nEight license agreements were concluded during the quarter, of which three were for smart sensing products and five were for connectivity products. One of the agreements was with a first-time customer. Customers' target markets include automotive powertrain, wearables, true wireless stereo earbuds and a range of IoT devices. Geographically, seven of the deals signed were in China, and one was in the U.S. \nGideon Wertheizer, CEO of CEVA, stated: \"We produced our highest second quarter revenue on record despite the uncertain environment created by the COVID-19 pandemic. We are consistently growing our licensee base and expanding our market reach into new lucrative areas such as automotive powertrain where we concluded a key design win this quarter. Royalty revenues came in ahead of our expectations, driven by revenues from our base station and IoT product line that is up 77% year-over-year to $4.3 million. We continuously monitor developments relating to the spread of the pandemic and U.S. tensions with China, and remain focused on serving our customers and executing on our growth strategy. The dedication and efficiency of our employees, combined with our diverse portfolio of technology, continue to provide us with the foundation to go from strength to strength as a leader in our industry.\"\nGAAP net loss for the second quarter of 2020 was $1.1 millio...