Ceva, Inc. · NASDAQ:CEVA
Ceva — Investor Day (December 2023)
80 slides from Ceva's investor day presentation, December 2023
Slide 1: Ceva Investor Day
Ceva Investor Day Welcome December 2023 1 Ceva Proprietary Information – Investor Day 2023
Slide 2: Video of Ceva
Video of Ceva https://youtu.be/9h0WgVle5wI 2 Ceva Proprietary Information – Investor Day 2023
Slide 3: Introduction
Introduction Richard Kingston December 2023 3 Ceva Proprietary Information – Investor Day 2023
Slide 4: Legal Notice
Legal Notice Forward Looking Statements This presentation contains forward-looking statements and projections about our strategy, market opportunity, customer base, product penetration and market share, stockholder returns, and our future performance and achievements, financial and otherwise. These
Slide 5: Notice Regarding Information Presented
Notice Regarding Information Presented On September 14, 2023, Ceva and its wholly owned subsidiary, Intrinsix Corp. (“Intrinsix”), a provider of design engineering solutions focused on the U.S. Aerospace & Defense industry, entered into a definitive agreement with respect to the sale of Intrinsix to
Slide 6: A New Brand Identity
A New Brand verified, trusted Identity Reflecting our focus on Smart Edge IP innovation connected rising sun (enabling/powering future) Powering the Smart Edge 6 Ceva Proprietary Information – Investor Day 2023
Slide 7: The Ceva Team
The Ceva Team Company is evolving Logo below pictures The right mix of talent Amir Panush Yaniv Arieli Michael Boukaya CEO CFO COO Iri Trashanski Gweltaz Toquet Richard Kingston CSO CCO VP Market Intelligence, IR & PR Dana Maor VP People 7 Ceva Proprietary Information – Investor Day 2023
Slide 8: Agenda
AGENDA 9:15am – 9:25am Introduction The Smart Edge Era 9:25am – 10:10am Amir Panush, CEO 10:10am – 10:20am CEO Q&A 15 min break Innovating for the Smart Edge 10:35am – 11:05am Michael Boukaya, COO Creating an Operating Margin Engine 11:05am - 11:35am Yaniv Arieli, CFO 11:35am – 12:00pm Team Q&A Wrap
Slide 9: The Smart Edge Era
The Smart Edge Era Focus and Innovation for Growth Amir Panush December 2023 9 Ceva Proprietary Information – Investor Day 2023
Slide 10: My First Year at Ceva
My First Year at Ceva Discover Strategy Wi-Fi Wi-Fi Wi-Fi Profitable & & 6 6 Growth 6 Assess Focus TRANSFORMATION 2023 2024 10 Ceva Proprietary Information – Investor Day 2023
Slide 11: The partner of choice for transformative IP solutions for the Smart Edge
OUR MISSION The partner of choice for transformative IP solutions for the Smart Edge 11 Ceva Proprietary Information – Investor Day 2023
Slide 12: Ceva: Born in the PC Era, Transformed to the Smart Edge
Ceva: Born in the mobile PC Era andand transformed Transformed to the to the Smart Smart edgeEdge 1200 1000 Smart Edge Era 30bn+ Semiconductor revenue, $millions Data Era 800 Mobile Era 15bn+ Units 600 PC Era 100m+ 1bn+ Units Units 400 Units 200 0 1990 2010 2023+ 2030+ Semiconductors: a $1 Trillion
Slide 13: Technology Mega-Trends Driving Semiconductor Growth
Technology Mega-Trends Driving Semiconductor Growth ARTIFICIAL IoT 5G AUTOMOTIVE CLOUD INTELLIGENCE Industry 4.0 Always-on Connectivity Edge Compute ADAS Data Growth New Applications Machine Learning & Intelligent Devices Leveraging Bandwidth Electrification Advanced Networking Large Language Models
Slide 14: The Ceva View of the Smart Edge
The Ceva View of the Smart Edge DATA CENTER / CLOUD SMART EDGE Data Transfer Data Transfer Edge Platforms / Gateways End Devices CONNECTED SMART INTEGRATED 14 Ceva Proprietary Information – Investor Day 2023
Slide 15: Smart Edge Driving Innovation and Growth for this Decade
Smart Edge Driving Innovation and Growth for this Decade Smart Edge Devices 8% >$10bn >30bn $600bn Semi Rev CAGR Overall IP New Devices Smart Edge (2020-30) TAM Annually Semi Market 15 2030 market numbers. Sources: Gartner 2023, 0media 2022, ABI Research, IP Nest 2023, Company analysis Ceva Propriet
Slide 16: Ceva is Already All Around Us
Ceva is Already All Around Us 70m Infrastructure Chips 10bn 150m Mobile PCs Devices 17bn 6bn Devices 500m Consumer IoT Industrial Devices Devices 100m Automotive SoCs 16 Ceva Proprietary Information – Investor Day 2023
Slide 17: Core Smart Edge Use Cases
CONNECT SENSE INFER Core Smart Edge Use Cases 17 Ceva Proprietary Information – Investor Day 2023
Slide 18: Translated into SAM Expansion
Translated into SAM Expansion Ceva SAM Market Leadership • Only complete wireless connectivity IP portfolio $2.2bn • Bluetooth IoT leadership (~30% market share) $1.5bn 45% Infer • 7/10 top connected MCU vendors using Ceva IP Sense Connect • Early innovator in vision and Edge AI IP • Hundreds of cus
Slide 19: Highly Leverageable Technology Portfolio Supporting Mega Markets
Highly Leverageable Technology Portfolio Supporting Mega Markets World’s #1 Wireless Scalable Edge Embedded Communication IP AI Sensing IP Application Software Powering more than Powering Edge AI in Software IP powered 1bn new connected more than 500m more than 300m devices annually devices to date
Slide 20: Diverse Set of End Markets and Applications for the Smart Edge
Diverse Set of End Markets and Applications for the Smart Edge Consumer IoT Automotive Infrastructure Industrial PC Mobile Semi TAM* $79bn $70bn $67bn $98bn $65bn $136bn 4% CAGR 6% CAGR 4% CAGR 8% CAGR 0% CAGR 0% CAGR Ceva $1.8bn $1bn $140m $720m $ 650m $1bn TAM 10% CAGR 7% CAGR 10% CAGR 12% CAGR 4%
Slide 21: Consumer IoT
Consumer IoT Why We Win? • Comprehensive technology offering Overall Market TAM* (annual) CONNECT • Proven IP in high $79bn Streaming Bluetooth / Wi-Fi volume • Lowest power SENSE • Strong customer ROI Ceva TAM/SAM (annual) Spatial • Leading MCU $1.8bn / $1.1bn Audio vendors using Ceva INFER 3D Audi
Slide 22: Automotive
Automotive Why We Win? • Commitment and longevity of support Overall Market TAM* (annual) CONNECT • Scalable and open $70bn v2x 5G IoT architecture AI • Robustness, trusted SENSE partner Ceva TAM/SAM (annual) Safety • Safety qualified $1bn / $200m Radar UWB INFER ADAS Ceva 5 Year Revenues (‘19-’23)
Slide 23: Infrastructure
Infrastructure Why We Win? • Wireless technology Incumbency Overall Market TAM* (annual) CONNECT • Backward $67bn BST / Satcom 5G-A compatibility • Performance leaderships Ceva TAM/SAM (annual) • Platform offering $140m / $95m • 2 of top 4 5G base station OEMs using Ceva INFER Ceva 5 Year Revenues (
Slide 24: Industrial
Industrial Why We Win? • Portfolio • Cellular assets Overall Market TAM* (annual) CONNECT • Verified in high $98bn Seamless Bluetooth / Wi-Fi volume and longevity Cellular / M2M SENSE • Derivative offering Ceva TAM/SAM (annual) Asset Health • Customer base $720m / $105m Audio Sensor INFER Ceva 5 Yea
Slide 25: Strong and Diversified Customer Base
Strong and Diversified Customer Base Small Fabless Large Fabless OEM Innovative & dynamic ROI & Augmentation Vertical Integration 25 Ceva Proprietary Information – Investor Day 2023
Slide 26: Delivering Strong Value to our Customer
Delivering Strong Value to our Customer R&D Cost Comparison Why IP Works Wi-Fi 7 • Complex, yet standard IP Maintenance • Backward compatibility X% 75% • Rinse and repeat • Time to market Development Maintenance Royalties • Focus on differentiated value License Make Make Buy License 26 Internal deve
Slide 27: Healthy Mix of Long Term, First-Time and Multi-Technology Customers
Healthy Mix of Long Term, First-Time and Multi-Technology Customers > 60 Customers Wi-Fi >160 > 100Wi-Fi First Time > 60Wi-Fi Repeat Wi-Fi Licensed Multiple Customers 6 Customers 6 Customers 6 6 Technologies >250 Licensing Deals Signed in Past 5 Years 2019 2023 Internal data based on Ceva standalone
Slide 28: Customer Testimonial: Chandana Pairla
CUSTOMER TESTIMONIAL Chandana Pairla VP Connectivity Solutions Division HEADSHOT Ceva is a highly valued technology partner to Renesas. Their comprehensive portfolio of wireless IP spanning Bluetooth, Wi-Fi, UWB and 5G cellular IoT perfectly complements our roadmap and strategy and enables us to del
Slide 29: Customer Testimonial: SP Baik
CUSTOMER TESTIMONIAL SP Baik VP of HE Product Planning Division For more than a decade, the point-and-click motion control capabilities enabled by Ceva’s MotionEngine Smart TV software have played an integral role in the popularity of LG webOS that powers our Smart TV’s. We have tremendous appreciat
Slide 30: Customer Testimonial: Frank SF Yang
CUSTOMER TESTIMONIAL Frank SF Yang iVoT SBU director Novatek is a trustworthy partner and a dedicated total solution provider in the Smart Imaging and Smart Display technology. It is also the world 7th largest and Taiwan 2nd largest IC fabless design company in Taiwan (TW. 3034). For multiple genera
Slide 31: SAM Growth Drivers
SAM Growth Drivers Number of Number of IP’s Avg ASP increase 45% devices per device with tech growth in complexity Ceva $SAM 31 Ceva Proprietary Information – Investor Day 2023
Slide 32: IP M&A Track Record and Strategy
IP M&A Track Record and Strategy 2023 VISISONICS 2021 INTRINSIX 2019 HILLCREST LABS Spatial audio SW 2014 RIVIERAWAVES Non-core, divested in ‘23 ~ 2X in revenue and entry into embedded SW >20X in revenue and billions of devices shipped IP EXCELLENCE • Deep understanding of the IP business model and
Slide 33: Targeting Long Term Growth and Operating Margin Expansion
Targeting Long Term Growth and Operating Margin Expansion REVENUE GROWTH OPERATING MARGIN GROWTH Inorganic Organic Organic 2023 2027 2023 2027 Except with respect to information under the columns headed 2023 and 2024 on slide 71 of this presentation, no future financial targets 33 discussed in this
Slide 34: Ceva Is Well Positioned For Growth
Ceva Is Well Positioned For Growth Historically 2023 Markets Mobile Handset Smart Edge Use Case 3\4\5G, Connectivity Connect, Sense, Infer Technology DSP Wireless, Sensing & Edge AI Company CEVA-DSP Ceva-IP 34 Ceva Proprietary Information – Investor Day 2023
Slide 35: A New Era – The Smart Edge Runs on Ceva
A New Era – The Smart Edge Runs on Ceva Connected and Diversified and growing Data Driven Era customer base journey Connect Strong growth Diversified and Sense in Multiple Profitable innovative portfolio Smart Edge to enable Smart Edge End Markets Growth Engine Infer Devices use cases 35 Ceva Propri
Slide 36: Q&A
Q&A 36 Ceva Proprietary Information – Investor Day 2023
Slide 37: Thank You
Thank You Copyright © 2023 Ceva, Inc. and/or its subsidiaries. All rights reserved. All specifications are subject to change without notice. 37 Ceva Proprietary Information – Investor Day 2023
Slide 38: Innovating for the Smart Edge
Innovating for the Smart Edge Michael Boukaya December 2023 38 Ceva Proprietary Information – Investor Day 2023
Slide 39: Technology Portfolio Enabling Core Smart Edge Use Cases
Technology Portfolio Enabling Core Smart Edge Use Cases CONNECT SENSE INFER UWB IP Market Leadership Enabling Immersive Realism Innovative NPU Technology Diversified Portfolio Integrated Solutions Scalability up to >1000 TOPs From Mb to Multi-Gb From Sensor Fusion to Spatial Audio From Vision to Gen
Slide 40: Anticipating our Customer's Future Needs
Anticipating our Customer’s Future Needs Investing at the forefront of innovation Design Integration Royalties & Support N -5 N -2 N N +10 Ceva IP Customer Customer Continued Development Design Start Product Launch Support Lead Customer Examples ADAS Vision Assistance Cellular IoT 40 Ceva Proprietar
Slide 41: Highly Leverageable Technology Portfolio Supporting Mega Markets
Highly Leverageable Technology Portfolio Supporting Mega Markets World’s #1 Wireless Scalable Edge Embedded Communication IP AI Sensing IP Application Software Powering more than Powering Edge AI in Software IP powered 1bn new connected more than 500m more than 300m devices annually devices to date
Slide 42: Enabling the Next Era of Wireless Opportunities
Enabling the Next Era of Wireless Opportunities Wi-Fi 7 Wi-Fi6 Wi-Fi 4.8X 46 Gbps 6 Data Throughput 4KQAM MLO 40+ licensees BT 6.0 Wi-Fi Bluetooth 5 4X 8 Mbps 6 Data Throughput 16QAM 50+ licensees Higher throughput, lower latency, and increased capacity 42 Ceva Proprietary Information – Investor Day
Slide 43: Leading the World of Wireless Connectivity
Leading the World of Wireless Connectivity Unique capability to offer wireless combo solutions #1 >5Bn >100 >500 IP Licensor Devices Licensees Man Years Invested Worldwide Powered 43 Ceva Proprietary Information – Investor Day 2023
Slide 44: Creating New Markets with Cutting Edge Cellular Technology
Creating New Markets with Cutting Edge Cellular Technology 1 Tbps 0.1 ms Latency | AI-Fully Intelligent 20 Gbps 1 ms Latency, RedCap, NTN 6G 5G-Advanced 150 Mbps 5G 10 ms Latency 4G 2010 2020 2030 44 Ceva Proprietary Information – Investor Day 2023
Slide 45: Best-In-Class 5G-Advanced Baseband Processor Family
Best-In-Class 5G-Advanced Baseband Processor Family CEVA-XC20 Designed for Advanced Node @3nm 2.5 GHz Highest Performance Outstanding Performance 3x improvement Scalability CEVA-XC20 DSP Family Sophisticated Micro-Architecture Dynamic multi-threading Optimum Efficiency Scalable Performance Up to 256
Slide 46: Advanced Integrated Platform for Non-Handset Use Cases
Advanced Integrated Platform for Non-Handset Use Cases PentaG2 Programmable Multi-Mode 4G/5G/5G-A Highest Performance IP Platform Reduce Risks and TTM Integrated & Qualified 5G-Advanced 5G PHY Software HW Accelerators Scalability CEVA-XC20 DSP Family Modular Architecture Address multiple use cases A
Slide 47: Why We Win
Why We Win Perseverance Time-to-Market Best-in-Class Completeness Early investment and Being the first to enable Ultra-Low power and Unique portfolio long-term commitment most advanced use cases highest performance and ability to offer combo solutions 47 Ceva Proprietary Information – Investor Day 2
Slide 48: Software Enabling Immersive Smart Edge User Experiences
Software Enabling Immersive Smart Edge User Experiences Advanced Sensing Software Stack A Core Technology for OEM to deliver Superior User Experience Spatial Motion AI Voice Voice Audio Tracking Assistant Clarity Stereo → Ambisonics 3DOF → 6DOF Alexa/Google → Custom Trigger ANC → Contextual AI 44.1K
Slide 49: Delivering High-Value Software Stack: Why We Win
Delivering High-Value Software Stack Why We Win Spatial Audio Voice Clarity • Unique Spatial Audio Technology Immersive 3D sound with head tracking AI noise cancellation & audio front end • Ultimate software technology combination Valuable Portfolio Of Embedded Application Software for immersive use
Slide 50: Generative AI as Catalyst for Edge Device Evolution
The Next Frontier : Generative AI as Catalyst for Edge Device Evolution More Battery Consumption in GAI Inference Compute Parameters 30x >10x 10Bn 2.7Bn Gen AI edge devices in 2027, growing at CAGR of 21% Low Cost per Query Personalization 30% Lower Latency Generative AI inference will be Privacy an
Slide 51: NeuPro-M - The Most Powerful GenAI NPU
Unlocking Generative AI on the Edge NeuPro-M™ - The Most Powerful GenAI NPU Scalability 10 to >1000 TOPs Full Stack AI Performance 3.4M Token per Second System Optimization Low Energy 1.6M TPS per Watt Model efficiency & Re-Training Graph Compilation 4X Memory Cost Saving Footprint Reduction Hardwar
Slide 52: Best-in-Class Performance for Generative AI
Best-in-Class Performance for Generative AI BEST IN CLASS UNSTRUCTURED SPARSITY Achieves 90-95% Network Utilization ADVANCED SYSTEMS ARCHITECTURE Power Efficiency (Tokens or frames per second per watt) OPTIMAL PARALLEL PROCESSING AND CONTROL CEVA NPM11 Company N RoBertA 25x 1 NATIVELY SUPPORTS TRANS
Slide 53: Broad, Proven Portfolio of Innovative Solutions for the Smart Edge
Broad, Proven Portfolio of Innovative Solutions for the Smart Edge IP Portfolio 2023 CONNECT Bluetooth 5.3 PentaG- RAN Bluetooth CS UWB CCC Wi-Fi 6 ST PentaG2 NB-IoT Bluetooth 5.4 UWB Radar CEVA XC22 UWB 1.0 Wi-Fi 6/6E AP Wi-Fi 6/6E STA+ AP (combined) Continuous innovation ClearVox- AFE ClearVox- EN
Slide 54: How It All Comes Together – From Innovation to Solutions
How It All Comes Together – From Innovation to Solutions Solution Offering VALUE TO (Combos, CUSTOMER SW,BB S Solution platform) Offering (Combos, SW, baseband platform) Comprehensive Portfolio IP Offering Increased Complexity Forthcoming Innovation Market Mega Trends 54 Ceva Proprietary Information
Slide 55: Thank You
Thank You Copyright © 2023 Ceva, Inc. and/or its subsidiaries. All rights reserved. All specifications are subject to change without notice. 55 Ceva Proprietary Information – Investor Day 2023
Slide 56: Creating an Operating Margin Engine
Creating an Operating Margin Engine Yaniv Arieli December 2023 56 Ceva Proprietary Information – Investor Day 2023
Slide 57: Agenda
AGENDA 2019 Recap Revenue breakdowns R&D spend / effort Product lifecycle insights Capital Allocation | ESG Summary & models 57 Ceva Proprietary Information – Investor Day 2023
Slide 58: 2019 Investor Day: Recap on 2022 Targets
2019 Investor Day Recap on 2022 Targets Revenue Operating EPS margins: leverage: Licensing revenue: ~30%+ ~3x from ~10%-20% growth existing ~2x over levels Royalty: ~2x over existing existing levels of ~$40m/$45m levels Unit shipments: ~3bn CEVA- powered chips annually 58 Ceva Proprietary Informatio
Slide 59: 2019 Investor Day Recap
2019 Investor Day Recap What Worked What Didn’t Work Licensing revenue and number of deals • Handset royalty behind targets exceeded targets • Cellular IoT, 5G base station, automotive Bluetooth and Wi-Fi business above plan industries slow to ramp > 2X Royalty growth for base station & IoT • Intrin
Slide 60: Back to "Pure IP" Business Model
Back to “Pure IP” Business Model PRODUCT DEPLOYMENT END PRODUCTS SHIP HW R&D 1-2 YEARS RANGING FROM 1-3 YEARS FOR UP TO 10+ YEARS Investment Phase Licensing Phase Royalty Phase HARDWARE 4-5 Lead R&D projects IP integration into customers silicon 80+ diversified long-tail royalty streams concurrently
Slide 61: Committed to Restoring Gross Margins and Operating Leverage
Committed to Restoring Gross Margins and Operating Leverage “Pure IP” Business Model Characteristics Disciplined Investments Moving Forward • 50%-60% non-GAAP R&D spend • Driving non-GAAP R&D % of revenue lower • “Off the shelf” reusable IP: design once, license • Focus investment with strong R&D le
Slide 62: Strong Track Record of Growth from Diversification
Strong Track Record of Growth from Diversification 5 Year Revenue Model Smart Edge Drives Growth $140 $140 Smart Edge 11% CAGR (‘19-’22) 27% CAGR (‘19-’22) Revenue Handset DSP $120 $120 Revenue $100 $100 $80 $80 $,millions $,millions $89.6 $103.1 $49.8 $71.2 $60 $113.8 $120.6 $60 $100.3 $40 $87.2 $4
Slide 63: IoT Markets Fuel Revenue Growth and Customer Diversification
IoT Markets Fuel Revenue Growth and Customer Diversification 2019 % Revenue By End Market Q1-Q3 2023 % Revenue by End Market 23% 24% 32% 61% 15% 45% Consumer IoT Mobile IIoT (automotive, infrastructure, industrial) Consumer IoT Mobile IIoT (automotive, infrastructure, industrial) 63 Ceva Proprietary
Slide 64: R&D Investment Drives Future Smart Edge Growth
R&D Investment Drives Future Smart Edge Growth $274m $285m $70 $60 Non-GAAP R&D spend $50 in licensing R&D spend, $millions $40 revenue over past 5 years to $30 Licensing revenue covers drive Smart Edge R&D spend over period + $20 Growth $10 $0 $210m 2019 2020 2021 2022 Q1-Q3 2023 in royalty revenue
Slide 65: Invest, License, Royalties, Repeat: Bluetooth
Invest, License, Royalties, Repeat 5 Year Bluetooth Revenue $107M 2019 - Q1-Q3 2023 Bluetooth Product Line 2014 2015 2016 2017 2018 2019 2020 2021 2022 Q1-Q3 2023 Design 12 16 18 13 20 18 14 26 17 14 Wins Units 40m 121m 139m 201m 303m 361m 521m 833m 1bn 714m Shipped Market 3% 8% 7% 9% 13% 13% 18% 25
Slide 66: Wi-Fi Product Cycle in Early Innings
Wi-Fi Product Cycle in Early Innings 5 Year Wi-Fi Revenue Royalty engine just beginning $75M 2019 - Q1-Q3 2023 Wi-Fi Product Line Q1-Q3 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 Design 4 6 12 15 17 10 Wins Units 5m 10m 67m 178m 139m 73m Shipped Market - 1% 4% 8% 6% ~5% Share INVESTMENT YEARS
Slide 67: Core Technology Delivers ROI Over Time: CEVA-XC
Core Technology Delivers ROI Over Time 5 Year CEVA-XC Revenue CEVA-XC Product Line Addresses Broad Markets $65M 2019 - Q1-Q3 2023 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 … V2X Drone Comms 5G Wireless Backhaul 5G NTN (Satellite) Addressable 4G Cellular Terminals 5G Mobile Broadband CEVA-XC
Slide 68: Capital Allocation
Capital Allocation RECENT RECENT SHARE INVESTMENTS DIVESTMENT BUYBACK Spatial Audio Sale of non-core 2019-2023 total Software Company Intrinsix asset $4m $35m $24m Opens up lucrative TWS Spatial Reflects Ceva’s strategy to focus NEW $14m -$20m (700,000 Audio Market to Ceva on IP licensing for Smart
Slide 69: ESG
ESG Harnessing the capabilities of technology to enable an improved world for all mankind Making technology Greener Semi IP Our ultra-low power IPs enable the smart edge to flourish with a lower companies carbon footprint From battery-less BLE sensors to energy-efficient wireless base stations, like
Slide 70: Summary - Long Term Growth Drivers
Summary - Long Term Growth Drivers Ubiquitous Connectivity IIoT Edge AI Software IP • Targeting 1 billion • Automotive AI ramp • Market tailwinds • Faster time to royalty Ceva-powered Wi-Fi with two leading chips annually OEMs • New, innovative • 3D spatial Audio product portfolio • Licensing expans
Slide 71: Long-Term Financial Model
Long-Term Financial Model Long Term Target 2023* 2024 Non-GAAP (2025-2027) Revenues $96.6m - $98.6m TBD** 8% - 12% CAGR Gross Margin % ~89% >90% >90% Overall Expenses ~$94.5m $93.8m - $94.8m 4% - 8% CAGR (COGS & OPEX) (flattish with 2023 level) $2m - $3m Operating Margins TBD** ~20% 2% - 3% EPS 13c
Slide 72: Summary Highlights
Return to Pure IP Innovating mindset model and winning portfolio Addressing high growth Smart Edge Summary Financial discipline Highlights opportunity to deliver operating leverage Highly diversified M&A mindset to customer base create IP scale and end markets 72 Ceva Proprietary Information – Inves
Slide 73: Q&A
Q&A 73 Ceva Proprietary Information – Investor Day 2023
Slide 74: Thank You
Thank You Copyright © 2023 Ceva, Inc. and/or its subsidiaries. All rights reserved. All specifications are subject to change without notice. 74 Ceva Proprietary Information – Investor Day 2023
Slide 75: Appendix
Appendix Copyright © 2023 Ceva, Inc. and/or its subsidiaries. All rights reserved. All specifications are subject to change without notice. 75 Ceva Proprietary Information – Investor Day 2023
Slide 76: 5 Year P&L (Non-GAAP)
5 Year P&L (Non-GAAP) Ceva Standalone 9 months 12 months 12 months 12 months 12 months 2023 Actual 2022 Actual 2021 Actual 2020 Actual 2019 Actual Revenues: Licensing and related revenues $45,739 $75,194 $63,953 $52,513 $47,890 Royalties 27,518 45,389 49,879 47,813 39,262 Total Revenues 73,257 120,5
Slide 77: 5 Year P&L (GAAP)
5 Year P&L (GAAP) 9 months 12 months 12 months 12 months 12 months 2023 Actual 2022 Actual 2021 Actual 2020 Actual 2019 Actual Ceva Standalone Revenues: Licensing and related revenues $45,739 $75,194 $63,953 $52,513 $47,890 Royalties 27,518 45,389 49,879 47,813 39,262 Total Revenues 73,257 120,583 1
Slide 78: GAAP to Non-GAAP Reconciliations
GAAP to Non-GAAP Reconciliations Unaudited Reconciliation of GAAP to Non-GAAP Financial Measures U.S. Dollars in thousands, except per share amounts Nine months ended Year ended September 30, December 31, 2023 2022 2021 2020 2019 Unaudited Unaudited Unaudited Unaudited Unaudited GAAP Total Expenses
Slide 79: GAAP to Non-GAAP Reconciliations
GAAP to Non-GAAP Reconciliations Unaudited Reconciliation of GAAP to Non-GAAP Financial Measures U.S. Dollars in thousands, except per share amounts Nine months ended Year ended September 30, December 31, 2023 2022 2021 2020 2019 Unaudited Unaudited Unaudited Unaudited Unaudited GAAP net income (los
Slide 80: GAAP to Non-GAAP Reconciliations
GAAP to Non-GAAP Reconciliations Unaudited Reconciliation of GAAP to Non-GAAP Financial Measures U.S. Dollars in thousands, except per share amounts Nine months ended Year ended September 30, December 31, 2023 2022 2021 2020 2019 Unaudited Unaudited Unaudited Unaudited Unaudited GAAP weighted-averag