Press release
Ceva, Inc. Announces Second Quarter 2024 Financial Results
- Licensing and related revenues $17.3 million, up 28% year-over-year- Royalty revenue $11.2 million, up 19% year-over-year, generated from 461 million
About this update from Ceva, Inc.
[{"type":"text","content":"- Licensing and related revenues $17.3 million, up 28% year-over-year- Royalty revenue $11.2 million, up 19% year-over-year, generated from 461 million shipped units, up 24% year-over-year- Long-term roadmap deals signed with 2 infrastructure OEMs developing custom silicon driven by rise in AI-related traffic on wireless networks - Strategic deal signed with leading U.S. analog semiconductor company for Ceva-Waves Bluetooth portfolio\nROCKVILLE, Md., Aug. 7, 2024 /PRNewswire/ -- Ceva, Inc. (NASDAQ: CEVA), the leading licensor of silicon and software IP that enables Smart Edge devices to connect, sense and infer data more reliably and efficiently, today announced its financial results for the second quarter ended June 30, 2024. Financial results for the second quarter ended June 30, 2023, reflect Ceva's continuing operations only, with the Intrinsix business reflected as a discontinued operation, unless otherwise noted.\n\n \n \n \n \n \n \n\n \nWe are pleased to report strong execution and results for the second quarter that exceeded our estimates.Operational Highlights:\nLaunched Ceva-Waves-Links, a Multi-Protocol wireless platform IP family to accelerate enhanced connectivity in MCUs and SOCs for IoT and Smart Edge AI applicationsExtended its Smart Edge IP leadership with Ceva-NeuPro-Nano, a TinyML Optimized family of NPUs for AIoT devicesAchieved an important milestone of surpassing 18 billion Ceva-powered devices shippedTotal revenue for the second quarter of 2024 was $28.4 million, up 24%, compared to $22.9 million reported for the second quarter of 2023. Licensing and related revenue for the second quarter of 2024 was $17.3 million, up 28%, compared to $13.6 million reported for the same quarter a year ago. Royalty revenue for the second quarter of 2024 was $11.2 million, up 19%, compared to $9.4 million reported for the same quarter a year ago.\nAmir Panush, Chief Executive Officer of Ceva, commented: \"We are pleased to report strong execution and results for the second quarter that exceeded our estimates, with licensing revenue and royalty revenue growing 28% and 19%, respectively, year over-year. In licensing, customer demand for our IP portfolio is being driven by the growing adoption of AI across every industry and every device. We signed a number of strategic deals in the quarter, including one with a leading U.S. a...