Press release
CEVA, Inc. Announces Third Quarter 2020 Financial Results
- Total revenue of $25.0 million, up 6% year-over-year, record high for third quarter revenue - Record high royalty revenue contribution from base station &
About this update from Ceva, Inc.
[{"type":"text","content":"- Total revenue of $25.0 million, up 6% year-over-year, record high for third quarter revenue\n - Record high royalty revenue contribution from base station & IoT product category up 86% sequentially and 105% year-over-year\n - Strategic licensing agreement for ADAS with one of the largest automotive semiconductor companies, reinforcing our market leadership for automotive processor IP\n\n\nMOUNTAIN VIEW, Calif., Nov. 5, 2020 /PRNewswire/ -- CEVA, Inc. (NASDAQ: CEVA), the leading licensor of wireless connectivity and smart sensing technologies, today announced its financial results for the third quarter ended September 30, 2020.\n\n \n \n \n \n \n \n\n \nThe quarterly royalty contribution from base station & IoT product category was a record $7.9 million.Total revenue for the third quarter of 2020 was $25.0 million, a 6% increase compared to $23.5 million reported for the third quarter of 2019. Third quarter 2020 licensing and related revenue was $12.4 million, an increase of 10% when compared to $11.3 million reported for the same quarter a year ago. Royalty revenue for the third quarter of 2020 was $12.5 million, an increase of 3% when compared to $12.2 million reported for the third quarter of 2019. \nThirteen license agreements were concluded during the quarter, of which eight were for smart sensing products and five were for connectivity products. Six of the agreements were with first-time customers. Customers' target applications include ADAS, digital imaging, true wireless stereo earbuds, digital conferencing systems for home office upgrades and a range of other smart IoT devices. Geographically, six of the deals signed were in APAC, four in the U.S, and three were in China. \nGideon Wertheizer, CEO of CEVA, stated: \"Our third quarter results are a firm endorsement of our technology strengths and the hard work of our employees. We have made tremendous progress in our base station and IoT product category, whose royalty revenues grew 86% sequentially and 105% year-over-year, reflecting the fast deployment of 5G base stations in China and record contributions from our Bluetooth, Wi-Fi and sensor fusion technologies. We continue to capitalize on our broad portfolio and industry reach to expand our customer base and future royalty potential. Of note, we signed a strategic agreement with a leading automotive semiconductor pla...