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Sep 30, 2023
Ceva Q3 2023 Earnings Report
Reported sequential improvements in both licensing and royalty revenues after refocusing efforts on driving the IP business following the sale of Intrinsix.
Key Takeaways
CEVA, Inc. reported a total revenue of $24.1 million for Q3 2023, a 20% decrease compared to $30.0 million in Q3 2022. The company experienced sequential improvements in both licensing and royalty revenues. GAAP gross margin reached 90%, and non-GAAP gross margin reached 92%. The company shipped 500 million CEVA-powered devices during the quarter, marking a 35% sequential increase and a 40% year-over-year increase.
Shipped 500 million CEVA-powered devices in the quarter, up 35% sequentially and up 40% year-over-year
GAAP and Non-GAAP gross margins reached 90% and 92%, respectively, reflecting the return to a pure IP licensing and royalty business model.
Expanded the existing share repurchase program with an additional 700,000 shares.
Strengthened focus on IP for high-growth smart edge technologies with the divestiture of the Intrinsix US Aerospace & Defense (A&D) design services business.
Ceva
Ceva
Ceva Revenue by Segment
Revenue by Segment
Licensing & related Revenue
CapyFin.comRoyalties Revenue
CapyFin.com Forward Guidance
No specific forward guidance was found in the provided document.
Revenue & Expenses
Visualization of income flow from segment revenue to net income