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Jun 30, 2023
Ceva Q2 2023 Earnings Report
CEVA's financial performance decreased due to a slowdown in semiconductor startup funding and macroeconomic conditions, but royalty revenue saw sequential recovery.
Key Takeaways
CEVA reported a decrease in revenue and increased net loss for Q2 2023 compared to Q2 2022. Total revenue was $26.2 million, a 21% decrease year-over-year. The company experienced a GAAP net loss of $5.8 million, compared to a net loss of $1.1 million in the same period last year.
Total revenue decreased by 21% year-over-year to $26.2 million.
Licensing, NRE, and related revenue decreased by 24% year-over-year to $16.8 million.
Royalty revenue decreased by 15% year-over-year to $9.4 million but increased 17% sequentially.
GAAP net loss was $5.8 million, compared to a net loss of $1.1 million in the same period last year.
Ceva
Ceva
Ceva Revenue by Segment
Revenue by Segment
Royalties Revenue
CapyFin.com Forward Guidance
CEVA has implemented cost-saving initiatives to reduce expense levels for the remainder of the year to navigate current macroeconomic conditions.