CEVA (CEVA) investor relations material

Executive summary

• Achieved record quarterly and annual revenues in 2025, with Q4 revenue reaching $31.3 million, driven by strong licensing and royalty performance across AI, connectivity, and sensing IP platforms.

• Signed 54 licensing agreements in 2025, including 10 OEMs, 13 first-time customers, and major NeuPro NPU wins with Microchip and a leading PC OEM.

• Shipped a record 2.1 billion devices in 2025, with cumulative shipments surpassing 21 billion units and record Wi-Fi and Cellular IoT shipments.

• Diversified revenue base, with 86% from smart edge applications across consumer, automotive, industrial, and infrastructure markets.

• Strengthened balance sheet with a $63 million capital raise in Q4, ending 2025 with $222 million in cash, marketable securities, and deposits, and no debt.

Financial highlights

• Q4 2025 revenue reached $31.3 million, up 7% year-over-year and 10% sequentially, marking an all-time high.

• Licensing revenue grew 11% year-over-year to $17.5 million; royalty revenue increased 2% to $13.8 million, the highest in over four years.

• Full-year 2025 revenue was $109.6 million, up 2% year-over-year; non-GAAP net income rose 20% to $10.8 million, diluted EPS up 17% to $0.42.

• Q4 non-GAAP operating income was $5.7 million (18% margin), non-GAAP net income $4.9 million; Q4 GAAP net loss was $1.1 million.

• Gross margin remained strong at 88%-89% non-GAAP for Q4 and the year.

Outlook and guidance

• 2026 revenue expected to grow 8%-12% over 2025, with stronger growth in the second half.

• Non-GAAP operating income and net income projected to increase 35%-40% year-over-year.

• Non-GAAP expenses for 2026 expected to rise 1%-3% organically, with FX headwinds adding ~$5 million.

• Gross margin forecasted at ~88% non-GAAP for 2026.

• Q1 2026 revenue guidance: $24-$28 million, reflecting typical post-holiday seasonality.