CEVA, Inc. Earnings Call Transcripts
Fiscal Year 2026
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Revenue rose 13% year-over-year to $29M, driven by strong licensing and royalty growth, with major platform and AI wins expanding long-term opportunities. Full-year outlook was raised to 13%-15% growth, with H2 expected to be stronger and profitability improving.
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The meeting confirmed a quorum and proceeded with the election of seven directors, all of whom were elected with strong majorities. Executive compensation was approved by advisory vote, and the appointment of independent auditors for 2026 was ratified.
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Q1 2026 saw double-digit revenue growth, record licensing, and strong momentum in AI, Wi-Fi, and combo chips, despite mobile softness. Upgraded full-year outlook projects top-end revenue growth and significant margin expansion, driven by integrated solutions and new customer wins.
Fiscal Year 2025
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Record revenues and strong licensing growth in 2025 were driven by AI and connectivity, with a landmark NPU deal in the PC market and robust smart edge diversification. 2026 guidance calls for 8%-12% revenue growth and significant margin expansion, despite FX and supply headwinds.
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Revenue grew 4% year-over-year to $28.4 million, with AI processor licensing now a major driver, contributing a third of licensing revenue. Record shipments in Wi-Fi and IoT, strong royalty growth, and a multi-year NPU deal with Microchip position the company for continued momentum.
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Q2 2025 saw strong licensing execution and a rebound in royalties, with 13 new license deals and 488 million units shipped. Revenue declined 10% year-over-year, but consumer IoT and Wi-Fi 6 shipments hit record highs. Outlook remains positive with sequential royalty growth expected.
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The company is expanding its IP licensing business across mobile, IoT, and automotive markets, focusing on low-power, scalable AI and wireless solutions. Growth is driven by new OEM wins, next-gen wireless standards, and increasing adoption of edge AI, with gross margins consistently above 85%.
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Revenue grew 10% year-over-year to $24.2M, led by strong licensing but offset by lower royalties from smartphones and industrial customers. Strategic wins in Wi-Fi 6/7, edge AI, and automotive ADAS support future growth, though 2025 guidance was lowered due to macro uncertainty.
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The meeting saw the election of eight directors, approval of amendments to employee stock and equity plans, executive compensation, and auditor ratification, all by strong majorities. Shareholders could submit questions, and all agenda items passed with at least 83% approval.
Fiscal Year 2024
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Delivered double-digit revenue growth in 2024, driven by strong licensing and royalty performance, record shipments, and strategic deals in AI and connectivity. 2025 guidance projects continued growth, with robust demand for edge AI and wireless technologies.
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Third quarter revenue grew 13% year-over-year to $27.2 million, with strong licensing and royalty growth, record IoT shipments, and improved profitability. Raised full-year guidance, citing robust backlog and pipeline, and expanded share repurchase program.
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Q2 2024 results exceeded expectations with 24% revenue growth, strong licensing and royalty gains, and robust IoT and smartphone shipments. New IP launches and a healthy deal pipeline support a positive outlook, with annual revenue and profitability expected at the high end of guidance.