Loading...
•
Mar 31, 2024
Ceva Q1 2024 Earnings Report
Ceva reported a decrease in total revenue but an increase in royalty revenue and volume shipments for Q1 2024.
Key Takeaways
Ceva's Q1 2024 results showed a decrease in total revenue to $22.1 million, but royalty revenue increased by 33% year-over-year to $10.7 million. The company concluded 11 license agreements and saw a 25% increase in volume shipments. Licensing revenue was lower than anticipated due to deal delays.
Royalty revenue increased by 33% year-over-year, reaching $10.7 million.
Total revenue was $22.1 million, compared to $26.3 million in Q1 2023.
Eleven license agreements were concluded across key target markets.
GAAP operating loss was $5.0 million, compared to $2.6 million in the same period last year.
Ceva
Ceva
Ceva Revenue by Segment
Revenue by Segment
Licensing & related Revenue
CapyFin.comRoyalties Revenue
CapyFin.com Forward Guidance
Ceva anticipates a healthy backlog to benefit the second quarter and expects to reach its total revenue target for the year, with continued monitoring of expenses and pursuit of opportunities to enhance product offerings and expand addressable markets.
Positive Outlook
- Healthy backlog expected to benefit the second quarter.
- Anticipation of executing delayed license deals in the remainder of the year.
- Confidence in reaching total revenue target for the year.
- Continued monitoring of expenses to improve operating efficiency.
- Well positioned to pursue opportunities to enhance product offerings and expand addressable markets.
Challenges Ahead
- Potential impact of intense industry competition.
- Risk of Ceva's technologies and products failing to achieve market acceptance.
- Cyclical nature and general economic conditions in the semiconductor industry.
- Instability and disruptions related to the ongoing Israel-Gaza conflict.
- Dependence on handset baseband market and ability to penetrate new markets.
Revenue & Expenses
Visualization of income flow from segment revenue to net income