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Ceva Inc (CEVA)
NASDAQ:CEVA
Holding CEVA?
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Earnings Data
Report Date
Feb 12, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.11Last Year’s EPS
$0.1Same Quarter Last Year
Strong Buy
Based on 4 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 07, 2024
|% Change Since: 23.55%
|Next Earnings Date:Feb 12, 2025
Earnings Call Sentiment|Positive
CEVA demonstrated strong revenue growth and record unit shipments, driven by new licensing agreements and robust demand in its royalty business. However, the quarter was impacted by lower gross margins due to customization work and a small operating loss. Despite these challenges, the company raised its annual guidance, reflecting optimism in future performance.Company Guidance
During the CEVA Inc. Third Quarter 2024 Earnings Conference Call, the company reported a strong financial performance, surpassing market expectations with a total revenue of $27.2 million, reflecting a 13% year-over-year increase. Licensing revenue rose 12% to $15.6 million, while royalty revenue grew 15% to $11.6 million. CEVA also announced its intention to raise the full-year 2024 guidance, supported by an improving backlog and pipeline. The call highlighted significant achievements in their licensing segment, including the first deal for the NeuPro-Nano embedded AI NPU and strategic deals in 5G and satellite communications. Additionally, CEVA reported a record high of 522 million unit shipments for the quarter, with notable growth in cellular IoT and Wi-Fi segments. The company's non-GAAP net income rose by 137% to $3.4 million, with a non-GAAP fully diluted EPS of $0.14. Looking forward, CEVA anticipates 7% to 9% revenue growth for the full year and plans to leverage its strong cash position for share repurchases and potential acquisitions.Strong Revenue Growth
Total revenue for Q3 2024 was $27.2 million, up 13% year-over-year. Licensing revenue was $15.6 million, up 12% year-over-year, and royalty revenue was $11.6 million, up 15% year-over-year.
Record Unit Shipments
CEVA achieved the second highest quarterly unit shipments in its history with 522 million units, including a record high for Cellular IoT at 48 million units, up 37% year-over-year.
New Licensing Agreements
CEVA signed 10 licensing deals, including the first for its NeuPro-Nano embedded AI NPU and strategic agreements for its PentaG 5G platform.
Raised Full-Year Guidance
CEVA raised its guidance for the full year 2024 to a 7% to 9% revenue growth, reflecting strong backlog and pipeline.
Expansion of Share Repurchase Program
CEVA's Board authorized an increase of 700,000 shares to the existing share repurchase program, signaling confidence in future business prospects.
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CEVA Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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CEVA Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 07, 2024 | $25.18 | $29.34 | +16.52% |
| Aug 07, 2024 | $16.13 | $19.44 | +20.52% |
| May 09, 2024 | $21.17 | $20.25 | -4.35% |
| Feb 14, 2024 | $20.19 | $24.51 | +21.40% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Ceva Inc (CEVA) report earnings?
Ceva Inc (CEVA) is schdueled to report earning on Feb 12, 2025, TBA Not Confirmed.
What is Ceva Inc (CEVA) earnings time?
Ceva Inc (CEVA) earnings time is at Feb 12, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is CEVA EPS forecast?
CEVA EPS forecast for the fiscal quarter 2024 (Q4) is $0.11.
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