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CEVA (CEVA) investor relations material

CEVA Q2 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q2 2025 earnings summary11 Aug, 2025

Executive summary

  • Total Q2 2025 revenue was $25.7M, down 10% year-over-year but up 6% sequentially, with 13 licensing agreements including five first-time and four OEM customers.

  • Four new edge AI NPU licensing deals and two strategic automotive IP agreements were signed, reflecting strong demand for AI and automotive technologies.

  • Device shipments reached 488M units in Q2, surpassing 20B cumulative shipments, underscoring technology leadership.

  • Marked a pivotal moment in customer adoption of edge AI technologies and record shipments in cellular IoT and Wi-Fi 6.

  • Repurchased 300,000 shares for $6.2M during the quarter; over 700,000 shares remain available under the buyback program.

Financial highlights

  • Licensing revenue was $15M (59% of total), down 13% year-over-year; royalty revenue was $10.7M, down 5% year-over-year but up 16% sequentially.

  • GAAP gross margin was 86% (down from 90%); non-GAAP gross margin was 87% (down from 91%).

  • GAAP net loss was $3.7M ($0.15/share) vs. $0.3M ($0.01/share) last year; non-GAAP net income was $1.8M ($0.07/share), down from $4.2M ($0.17/share) last year.

  • Non-GAAP operating income was $0.8M vs. $4.4M last year; GAAP operating loss was $4.5M vs. $35K loss last year.

  • Cash, equivalents, and marketable securities at quarter end were $157M; no debt.

Outlook and guidance

  • Licensing pipeline, especially for Edge AI, remains healthy; five consecutive quarters with ~$15M+ licensing revenue.

  • Royalty revenue expected to grow sequentially in H2, driven by holiday season and share gains at a US OEM smartphone customer.

  • Management expects sequential and year-over-year growth in the second half of 2025, but overall 2025 revenue guidance was lowered to low-single digits growth due to macroeconomic uncertainty.

  • Q3 revenue expected between $26M-$30M; gross margin to improve by 1% sequentially; OpEx to remain stable.

  • Expect double-digit percentage increase in non-GAAP net income and EPS vs. 2024.

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Frequently asked questions

CEVA, Inc. is a leading provider of semiconductor intellectual property cores, software development tools and wireless connectivity and smart sensing solutions. As a leading licensor of wireless connectivity and smart sensing technologies, CEVA provides a comprehensive estimation of market opportunities and end market trends as well as develops business and licensing models. CEVA's technology portfolio features industry-specific solutions that enable OEMs in a variety of applications to add intelligence to products related to imaging, voice input and recognition, sensor fusion and computer vision, such as smart cameras, connected home devices, personal mobile assistants (PMAs), and automotive.  

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