AI boost for Ceva IP
IP developer Ceva has seen a significant boost from the drive of AI and 5G Redcap into wireless networking chips.
Ceva saw licensing and related revenues $17.3m in Q2, up 28% year-over-year with royalty revenue of $11.2m, up 19% year-over-year. Total revenue for the quarter was $28.4 million, up 24%, compared to $22.9 million reported for the second quarter of 2023..
The company shipped IP in 461 million units, up 24% year-over-year, and overall the company has shipped over 18 billion Ceva-powered devices, the majority in Bluetooth chips. This comes as many silicon companies, the customers of Ceva, have struggled with falling revenue and profits.
- Ceva buys spatial audio tech for hearables
- Ceva joins ARM total design for 5G and satellite chips
- IP for TinyML in AIoT devices
AI has been a key driver. Ceva signed long-term roadmap deals signed with 2 infrastructure OEMs developing custom silicon driven by rise in AI-related traffic on wireless networks as well as a strategic deal with a leading US analog semiconductor company for the Ceva-Waves Bluetooth portfolio.
“We are pleased to report strong execution and results for the second quarter that exceeded our estimates, with licensing revenue and royalty revenue growing 28% and 19%, respectively, year over-year,” said Amir Panush, Chief Executive Officer of Ceva,
“In licensing, customer demand for our IP portfolio is being driven by the growing adoption of AI across every industry and every device. Our royalty business grew on the back of broad market strength and market share gains in IoT, and strong growth in the smartphone market.”
Ceva, Inc. reported Q2 2024 revenue of $28.4 million and non-GAAP diluted earnings per share of $0.17 . 11 new agreements were signed in the quarter, including 5 deals with OEMs. Royalty revenue was $11.2 million, up 19% year-over-year and Ceva-powered shipments were 461 million units, up 25% year-over-year. For more information and highlights, view the infographic.
During the quarter, the company signed eleven IP licensing agreements including AI for industrial and consumer edge AI devices, next-generation wireless infrastructure to enable ubiquitous AI, 5G satellite, 5G RedCap and Bluetooth connectivity for wearables and hearables. Five of the deals signed in the quarter were with OEMs and one deal signed was with a first-time customer.
This comes as the company re-focussed on IP rather than chip design. The net loss for the discontinued operation for the second quarter of 2023 was $5.8 million.
If you enjoyed this article, you will like the following ones: don't miss them by subscribing to :
