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CEVA Inc. (NASDAQ: CEVA) is a global leader in the licensing of signal processing IPs, focusing on creating power-efficient, intelligent, and connected devices for a smarter, connected world. Their partnerships with semiconductor companies and original equipment manufacturers (OEMs) globally enable the production of advanced devices catering to various end markets, including mobile, consumer, automotive, industrial, and IoT sectors.
CEVA’s comprehensive portfolio includes ultra-low-power IPs for vision, audio, communications, and connectivity. Their DSP-based platforms support LTE/LTE-A/5G baseband processing, computer vision, computational photography, and always-on sensing applications. Notably, their connectivity solutions encompass widely adopted IPs for Bluetooth (low energy and dual mode), Wi-Fi (802.11 a/b/g/n/ac up to 4x4), and serial storage (SATA and SAS).
Recent achievements highlight CEVA's robust market performance. In Q4 2023, they reported a total revenue of $24.2 million, with royalty revenue of $12.3 million, marking a 13% year-over-year increase. Strategic license agreements with leading semiconductor firms for Wi-Fi 6 and AI-enabling software underscore their market relevance. The full year saw a shipment of 1.6 billion CEVA-powered smart edge devices and record cellular IoT royalty revenues.
CEVA is committed to innovation, providing IP that enables devices to connect, sense, and infer data more reliably and efficiently. They continue to expand their portfolio with AI-related offerings and have made significant strides in wireless communications, sensing, and Edge AI technologies. CEVA's leading-edge IPs power over 17 billion smart edge products globally, from AI-infused smartwatches and IoT devices to autonomous vehicles and 5G mobile networks.
CEVA's financial health remains strong, with a focus on profitable growth and operational efficiency. Their continuous effort in developing new technologies and expanding market reach positions them as a trusted partner in the semiconductor industry.
CEVA, Inc. announced a significant expansion of its collaboration with Autotalks at CES 2023. Autotalks has licensed CEVA's Communication Processor and Digital Signal Controller for its third-generation V2X chipsets, TEKTON3 and SECTON3. These chips, which have already received series production approval from a major automotive OEM, are set for market introduction in 2026. ABI Research projects that V2X-enabled vehicles will exceed 61 million by 2030, indicating strong growth. CEVA's DSPs enable enhanced V2X capabilities crucial for safety and autonomous driving.
CEVA, Inc. (NASDAQ: CEVA) has partnered with LG Electronics to enhance smart home appliances through the licensing of CEVA-XM4 vision DSP in LG's Edge AI SoC, the 'LG8111.' This collaboration aims to improve user experience by integrating advanced computer vision and AI capabilities. At CES 2023, LG showcased its MoodUP™ refrigerator, leveraging CEVA's technology for enhanced features. CEVA aims to empower innovation in smart home devices, focusing on efficient AI processing and computer vision applications.
CEVA, a leader in wireless connectivity and smart sensing technologies, will participate in the 25th Annual Needham Growth Conference on January 10-11, 2023 in New York. Their presentation will be webcast live at 8:00 AM Eastern on January 10, with a replay available afterward. Interested parties can register for the webcast here. For more information on CEVA's upcoming events, visit investors.ceva-dsp.com.
CEVA, Inc. (NASDAQ: CEVA) announced that its NeuPro-M AI processor architecture received the 'Most Promising Product' award at the EE Awards Asia 2022. This recognition highlights NeuPro-M's innovative capabilities for AI/ML workloads across automotive, industrial, and edge AI applications. The 3rd generation architecture offers scalable performance ranging from 20 to 1,200 TOPS while decreasing memory bandwidth by 6X. NeuPro-M combines specialized co-processors and configuration options, enhancing performance by up to 15X compared to earlier versions, complemented by CEVA's advanced software development tools.
CEVA, Inc. (NASDAQ: CEVA) has promoted Gweltaz Toquet to Chief Commercial Officer, effective January 1, 2023. Toquet, with over 20 years at CEVA, previously led sales in the APAC, India, and Europe regions. He will oversee global sales and customer success following Issachar Ohana's departure. CEO Gideon Wertheizer praised Toquet's crucial contributions to CEVA's growth. The company focuses on wireless connectivity, smart sensing technologies, and aims to enhance system integration across various markets, including IoT and 5G.
CEVA, Inc. (NASDAQ: CEVA) announced that Novatek Microelectronics has licensed the SP500 DSP from CEVA's SensPro2 architecture for its NT98530 multi-sensor IP camera SoC. This SoC targets sectors like surveillance and smart cities, providing high image quality and low power consumption. The NT98530 supports video performance of over 8MP at 60FPS while utilizing advanced AI processing. CEVA and Novatek will showcase this technology at CES 2023. This partnership continues a nearly decade-long collaboration in enhancing computer vision capabilities.
CEVA, Inc. (NASDAQ: CEVA) announced its CEVA-BX1 and CEVA-BX2 Audio DSPs and associated software will now be available through the Intel® Pathfinder for RISC-V program. This initiative aims to enhance accessibility for developers in the RISC-V ecosystem, facilitating easier prototyping and production design. CEVA's DSPs are critical for processing complex audio and voice workloads, and the company emphasizes its commitment to supporting RISC-V platform development. The CEVA-BX1 is designed for low-power applications, while the CEVA-BX2 targets high-performance audio devices.
CEVA has launched its WhisPro™ speech recognition software for Texas Instruments' CC3235x wireless MCU family. This on-device software allows customization of wake words and voice commands, enhancing the voice user interface (VUI) capabilities for IoT applications. The collaboration with TI enables rapid integration of speech recognition in devices, with support for multiple languages and up to 30 custom commands. The voice recognition market is projected to grow to $27.2 billion by 2026, with a CAGR of 16.8% from 2021.
CEVA, Inc. (NASDAQ: CEVA) announces the retirement of CEO Gideon Wertheizer at the end of 2022. The board has appointed Amir Panush as the new CEO effective January 1, 2023. Wertheizer will remain on the board in an advisory capacity. Panush, previously CEO of InvenSense, brings over 100% revenue growth experience since 2020 and has held leadership roles at significant tech firms including Qualcomm. The transition aims to continue CEVA's growth in wireless connectivity and smart sensing technologies.
CEVA reported third-quarter 2022 total revenue of $33.7 million, a 3% increase year-over-year. Licensing and related revenue rose to $22.3 million, while royalty revenues reached $11.4 million. Increased royalty income from 5G RAN contributed to a significant 16% quarterly growth in IoT royalties. Despite these gains, the company faced a GAAP net loss of $22.3 million, primarily due to a $15.7 million write-off of deferred tax assets, and a GAAP operating loss of $4.0 million. Amir Panush will succeed Gideon Wertheizer as CEO.
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