CEVA, Inc. Announces First Quarter 2021 Financial Results

About CEVA, Inc.
CEVA is the leading licensor of wireless connectivity and smart sensing technologies. We offer Digital Signal Processors, AI processors, wireless platforms and complementary software for sensor fusion, image enhancement, computer vision, voice input and artificial intelligence, all of which are key enabling technologies for a smarter, connected world. We partner with semiconductor companies and OEMs worldwide to create power-efficient, intelligent and connected devices for a range of end markets, including mobile, consumer, automotive, robotics, industrial and IoT. Our ultra-low-power IPs include comprehensive DSP-based platforms for 5G baseband processing in mobile and infrastructure, advanced imaging and computer vision for any camera-enabled device and audio/voice/speech and ultra-low power always-on/sensing applications for multiple IoT markets. For sensor fusion, our Hillcrest Labs sensor processing technologies provide a broad range of sensor fusion software and inertial measurement unit ("IMU") solutions including hearables, wearables, AR/VR, PC, robotics, remote controls and IoT. For artificial intelligence, we offer a family of AI processors capable of handling the complete gamut of neural network workloads, on-device. For wireless IoT, we offer the industry's most widely adopted IPs for Bluetooth (low energy and dual mode), Wi-Fi 4/5/6 (802.11n/ac/ax) and NB-IoT.

CEVA is a sustainable and environmentally conscious company, adhering to our Code of Business Conduct and Ethics. As such, we emphasize and focus on environmental preservation, recycling, the welfare of our employees and privacy – which we promote on a corporate level. At CEVA, we are committed to social responsibility, values of preservation and consciousness towards these purposes. Visit us at www.ceva-dsp.com and follow us on Twitter, YouTube, Facebook, LinkedIn and Instagram.

 

CEVA, INC. AND ITS SUBSIDIARIES

CONSOLIDATED STATEMENTS OF INCOME – U.S. GAAP

U.S. dollars in thousands, except per share data



Quarter ended


March 31,


2021

2020


Unaudited

Unaudited

Revenues:



Licensing and related revenues

$  14,397

$  14,495

Royalties

11,005

9,120




Total revenues

25,402

23,615




Cost of revenues

2,381

2,751




Gross profit

23,021

20,864




Operating expenses:



Research and development, net

17,593

15,113

Sales and marketing

3,302

3,168

General and administrative

2,880

3,664

Amortization of intangible assets

576

582




Total operating expenses

24,351

22,527




Operating loss

(1,330)

(1,663)

Financial income, net

36

831




Loss before taxes on income

(1,294)

(832)

Taxes on income

2,336

353




Net loss

$  (3,630)

$  (1,185)




Basic and diluted net loss per share

($0.16)

($0.05)

Weighted-average shares used to compute net loss per share (in thousands):



Basic

22,546

21,994

Diluted

22,546

21,994


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