CEVA Registers 9% Revenue Growth In Q2 Reflecting Strength In Wireless Space

CEVA Registers 9% Revenue Growth In Q2 Reflecting Strength In Wireless Space
  • CEVA, Inc CEVA reported second-quarter FY22 revenue growth of 9% year-on-year to $33.2 million, missing the consensus of $34.5 million.
  • Segments: Licensing, non-recurring engineering (NRE), and related revenue increased 42% Y/Y to $22.1 million. Royalty revenue declined by 26% Y/Y to $11.1 million.
  • The quarter saw 22 license agreements, including 5 with first-time customers.
  • Non-GAAP EPS of $0.18 beat the consensus of $0.16.
  • CEVA held $146 million in cash and equivalents.
  • CFO Yaniv Arieli stated: "Forty-two percent year-over-year growth in licensing, NRE, and related revenues in the second quarter reflects our strength in the wireless space and the potential for further royalty revenue growth as these new customers reach production."
  • Price Action: CEVA shares closed lower by 2.94% at $37.70 on Monday.

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