Ceva, Inc.

ceva-ip.com

What Do They Do?

Licenses wireless communication, sensing and on-device artificial intelligence designs to semiconductor and electronics makers building chips and smart devices.

How Do They Make Money?

Customers pay contractually scheduled fees for IP licenses, which are earned when the license is made available; customer-specific IP work earns fees as it progresses. Royalties are based on licensees’ product sales, either per unit or as a share of sales.

revenue

Segment	Share	Revenue	How money arrives
License Sold outright	58% FY2022: 62%		Sold outright
Royalty Licensed	42% FY2022: 38%		Licensed

Who Are Their Customers?

Semiconductor and electronics makers license CEVA’s IP directly through its sales force and use it in chips and devices they sell worldwide.

Do Revenues Turn Into Profits?

No. It lost $10.6M in FY2025.

Operating income, FY2025

−10% of revenue

▲ +50% (Loss) vs FY2024 (−$7.5M, −7%)

Net income, FY2025

−10% of revenue

▲ +21% (Loss) vs FY2024 (−$8.8M, −8%)

Free cash flow, FY2025

−6% of revenue

▼ Now a loss vs FY2024 ($516K, 0%)

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q2 FY2026, the three months to Jun 30, 2026

Revenue: ▲ +13%; vs $25.7M in Q2 FY2025
Net income: ▼ −21% (Loss); vs −$3.7M in Q2 FY2025

License share of revenue vs 58.5% in Q2 FY2025

Flat. Revenue was $109.6M in FY2025, about the same as the $113.8M of FY2021.

Chip-design services The older report describes Intrinsix as a chip-design services business; the latest filing labels its revenue stream a discontinued operation.

Revenue over time

License Royalty

$200M$100M$0

FY2021 FY2022 FY2023 FY2024 FY2025

Who Do They Compete With?

Competes with Arm, Cadence, Imagination Technologies, VeriSilicon, Andes Technology, SiFive, Expedera, Quadric, Digital Media Professionals, GlobalFoundries, Cambricon, Ambarella, Nvidia, Mindtree, Dolby, Waves, Dirac, CyweeMotion, NXP, and STMicroelectronics

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