Press release
CEVA, Inc. Announces Second Quarter 2021 Financial Results
- All-time record high total revenue of $30.5 million, up 29% year-over-year - All-time record high shipments of Bluetooth, Wi-Fi and cellular IoT devices
About this update from Ceva, Inc.
[{"type":"text","content":"- All-time record high total revenue of $30.5 million, up 29% year-over-year\n - All-time record high shipments of Bluetooth, Wi-Fi and cellular IoT devices indicative of Company's continued momentum and leadership in wireless connectivity\n\n\nROCKVILLE, Md., Aug. 9, 2021 /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, 2021.\n\nTotal revenue for the second quarter of 2021 was an all-time record high $30.5 million, up 29% year-over-year.Total revenue for the second quarter of 2021 was an all-time record high $30.5 million, a 29% increase compared to $23.6 million reported for the second quarter of 2020. Second quarter 2021 licensing, non-recurring engineering (NRE) and related revenue was $15.5 million, an increase of 15% when compared to $13.5 million reported for the same quarter a year ago. Royalty revenue for the second quarter of 2021 was $14.9 million, an increase of 48% when compared to $10.1 million reported for the second quarter of 2020. Royalty revenue included a payment of $3.3 million upon the resolution of a disagreement on royalties for past shipments.\nSeventeen license agreements were concluded during the quarter, out of which six were with first time customers. Customers' target applications and devices include True Wireless Stereo (TWS) earbuds, 5G smartphones, surveillance equipment, Wi-Fi 6 and 5G for telecom, enterprise and industrial markets, and a range of applications for IoT, consumer and medical. Geographically, nine of the deals signed were in China, two were elsewhere in the Asia-Pacific Region, five were in the U.S, and one was in Europe.\nGideon Wertheizer, CEO of CEVA, stated: \"Our performance in the second quarter was exceptional, both in terms of financial metrics, with all-time high revenue, and in terms of market traction, where our IP portfolio continues to attract customers who rely on us to streamline and expedite their IoT and 5G strategies. With the acquisition of Intrinsix in the quarter, we are expanding our market reach to the large aerospace & defense space and enriching our business model, offering key customers optimized solutions that take advantage of our differentiated IP and competencies in RF, mixed-signal and security IP solution...