Ceva, Inc. Announces Fourth Quarter and Full Year 2025 Financial Results

ROCKVILLE, Md., Feb. 17, 2026 /PRNewswire/ -- Ceva, Inc. (NASDAQ: CEVA), the leading licensor of silicon and software IP for the Smart Edge, today announced its financial results for the fourth quarter and full year ended December 31, 2025.

Fourth Quarter Highlights:*

*Unless otherwise stated, all comparisons are to fourth quarter 2024

Full Year 2025 Highlights:*

*Unless otherwise stated, all comparisons are to full year 2024

Amir Panush, Chief Executive Officer of Ceva, commented: "2025 was a landmark year for Ceva and ended on a high note with record fourth-quarter revenue (1) and our strongest royalty quarter in more than four years. A key milestone in the quarter was a strategic NPU licensing agreement for our high-performance NeuPro NPUs with one of the world's leading PC OEMs. This win is a powerful validation of our AI strategy and reinforces our belief that dedicated NPUs will become a standard requirement across personal computing platforms and increasingly across intelligent devices.

"Importantly, our diversified, multi-IP engagements are building a growing licensing and royalty flywheel that supports sustained value creation over time," continued Panush. "As AI increasingly moves into real-world devices, we believe the industry is entering the era of Physical AI. With leadership across connectivity, sensing and inference, record Wi-Fi and cellular IoT shipments, and more than 20 billion Ceva-powered devices shipped to date, we enter 2026 in a position of strength."

In the fourth quarter, Ceva signed 18 IP licensing agreements spanning a broad range of end markets and applications, including three NPU licenses, highlighted by a strategic agreement with one of the world's leading PC OEMs. The quarter also included AI DSP agreements for automotive ADAS and consumer electronics, Wi-Fi 7 and Bluetooth High Data Throughput connectivity licenses, and a strategic software engagement with a leading TV platform.

Other fourth quarter financial data:*

*Unless otherwise stated, all comparisons are to fourth quarter 2024

Yaniv Arieli, Chief Financial Officer of Ceva, added: "We delivered record fourth-quarter revenues and achieved 18% non-GAAP operating margins, reflecting disciplined execution and improving mix. For the full year, non-GAAP net income increased 20% year-over-year and non-GAAP diluted earnings per share grew 17%, demonstrating consistent financial progress throughout 2025. During the fourth quarter, we also strengthened our balance sheet through a successful follow-on offering, raising approximately $63 million net, enhancing our financial flexibility to support future growth initiatives."

In 2025, Ceva signed 54 licensing agreements across diversified smart edge markets, including 33 consumer, 10 industrial, 7 automotive, 3 PC, and 1 infrastructure agreements. 10 of the licensing agreements were with OEMs and 12 customers licensed multiple Ceva technologies, underscoring the strength of the company's broad portfolio spanning connectivity, sensing and inference. During the year, a record 2.1 billion Ceva-powered devices were shipped, up 6% year-over-year, including 1.1 billion Bluetooth devices, and record shipments of 266 million Wi-Fi devices, and record shipments of 241 million cellular IoT devices. These volumes were complemented by continued deployments across smartphones and other smart edge devices powered by Ceva's DSPs, AI accelerators and sensor fusion software, reinforcing the scale and durability of Ceva's diversified business model.

Other full year 2025 financial data:*

*Unless otherwise stated, all comparisons are to full year 2024

Ceva Conference Call

On February 17, 2026, Ceva management will conduct a conference call at 8:30 a.m. Eastern Time to discuss the operating performance for the quarter and full year.

The conference call will be available via the following dial in numbers:

The conference call will also be available live via webcast at the following link: https://app.webinar.net/9YBAnq6d4Rj. Please go to the web site at least fifteen minutes prior to the call to register.

For those who cannot access the live broadcast, a replay will be available by dialing +1-855-669-9658 or +1-412-317-0088 (access code: 1337948) from one hour after the end of the call until 9:00 a.m. (Eastern Time) on March 17, 2026. The replay will also be available at Ceva's web site at www.ceva-ip.com.

(1) Excluding the Intrinsix design services business, which was divested in 2023.

Forward Looking Statements

This press release contains forward-looking statements that involve risks and uncertainties, as well as assumptions that if they materialize or prove incorrect, could cause the results of Ceva to differ materially from those expressed or implied by such forward-looking statements and assumptions. Forward-looking statements include statements about Ceva's positioning for future growth and to serve as a foundational technology provider for intelligent, connected devices, licensing agreement wins, future industry demand, our market position for the future and future growth in the demand of our products, our forecast of financial measures for the following quarter and 2026, our long term targets and underlying assumptions, our future investments, expectations about future market, the success of our strategies and agreements, visibility into future revenue streams, and Ceva's focus on expense management and profitability improvement. The risks, uncertainties and assumptions that could cause differing Ceva results include: the effect of intense industry competition; the ability of Ceva's technologies and products incorporating Ceva's technologies to achieve market acceptance; Ceva's ability to meet changing needs of end-users and evolving market demands; the lengthy sales cycle for IP and related solutions; Ceva's ability to diversify royalty streams and license revenues; geopolitical risks and instability, including the impact of tariffs and other trade measures and potential disruptions related to ongoing conflicts in the Middle East; and general market conditions and other risks relating to Ceva's business and industry, including, but not limited to, those that are described from time to time in our SEC filings. Ceva assumes no obligation to update any forward-looking statements or information, which speak as of their respective dates.

About Ceva, Inc.

Ceva powers the Smart Edge, bridging the digital and physical worlds to bring AI-driven products to life. Our Ceva AI fabric portfolio of silicon and software IP enables devices to Connect, Sense, and Infer – the essential capabilities for the intelligent edge. From 5G, cellular IoT, Bluetooth, Wi-Fi, and UWB connectivity to scalable Edge AI NPUs, AI DSPs, sensor fusion processors and embedded software, Ceva provides the foundational IP for devices that connect, understand their environment, and act in real time.

With more than 20 billion devices shipped and trusted by 400+ customers worldwide, Ceva is the backbone of today's most advanced smart edge products - from AI-infused wearables and IoT devices to autonomous vehicles and 5G infrastructure. Our differentiated solutions deliver seamless integration into existing design flows, total flexibility to combine solutions based on design needs and ultra–low–power performance in minimal silicon footprint, helping customers accelerate development, reduce risk, and bring innovative products to market faster. As technology evolves toward Physical AI, Ceva's IP portfolio lays the foundation for systems that are always connected, contextually aware, and capable of intelligent, real-time decision-making.

Visit us at www.ceva-ip.com and follow us on LinkedIn, X, YouTube, Facebook, and Instagram.

Ceva, Inc. AND ITS SUBSIDIARIES

INTERIM CONDENSED CONSOLIDATED STATEMENTS OF LOSS – U.S. GAAP

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

Three months ended

Twelve months ended

December 31,

2025

2024

2025

2024

Unaudited

Revenues:

Licensing and related revenues

$ 17,503

$ 15,733

$ 63,595

$ 59,999

Royalties

13,788

13,490

46,003

46,940

Total revenues

31,291

29,223

109,598

106,939

Cost of revenues

3,730

3,371

14,158

12,768

Gross profit

27,561

25,852

95,440

94,171

Operating expenses:

Research and development, net

18,934

16,877

74,833

71,616

Sales and marketing

3,479

3,625

13,262

12,624

General and administrative

5,396

5,126

18,093

16,877

Amortization of intangible assets

150

598

599

Total operating expenses

27,959

25,778

106,786

101,716

Operating income (loss)

(398)

(11,346)

(7,545)

Financial income (loss), net

1,447

(78)

6,913

4,884

Income (loss) associated with the remeasurement

of marketable equity securities

(257)

(94)

Income (loss) before taxes on income

1,053

(1)

(4,690)

(2,755)

Income tax expense

2,151

1,735

5,948

6,031

Net loss

(1,098)

(1,736)

(10,638)

(8,786)

Basic and diluted net loss per share

$ (0.04)

$ (0.07)

$ (0.44)

$ (0.37)

Weighted-average shares used to compute net loss

per share (in thousands):

Basic and diluted

25,558

23,637

24,295

23,613

Unaudited Reconciliation of GAAP to Non-GAAP Financial Measures

U.S. Dollars in thousands, except per share amounts

Three months ended

Twelve months ended

December 31,

2025

2024

2025

2024

Unaudited

GAAP net loss

$ (1,098)

$ (1,736)

$ (10,638)

$ (8,786)

Equity-based compensation expense included in cost of

revenues

186

143

679

713

Equity-based compensation expense included in research

and development expenses

2,771

2,432

10,549

9,298

Equity-based compensation expense included in sales

and marketing expenses

662

494

2,397

1,801

Equity-based compensation expense included in general

and administrative expenses

2,079

827

6,171

3,763

Amortization of intangible assets related to acquisition

of businesses

208

255

833

1,090

Costs associated with asset acquisition

144

250

577

1,033

Loss (Income) associated with the remeasurement of

marketable equity securities

(4)

(3)

257

Non-GAAP net income

$ 4,948

$ 2,662

$ 10,825

$ 9,006

GAAP weighted-average number of Common Stock

used in computation of diluted net loss per share (in

thousands)

25,558

23,637

24,295

23,613

Weighted-average number of shares related to

outstanding stock-based awards (in thousands)

1,761

1,579

1,726

1,491

Weighted-average number of Common Stock used in

computation of diluted earnings per share, excluding the

above (in thousands)

27,319

25,216

26,021

25,104

GAAP diluted loss per share

$ (0.04)

$ (0.07)

$ (0.44)

$ (0.37)

Equity-based compensation expense

$ 0.20

$ 0.16

$ 0.80

$ 0.65

Amortization of intangible assets related to acquisition

of businesses

$ 0.01

$ 0.03

$ 0.04

Costs associated with asset acquisition

$ 0.01

$ 0.02

$ 0.04

Loss associated with the remeasurement of marketable

equity securities

$ 0.00

$ 0.01

$ 0.00

Non-GAAP diluted earnings per share

$ 0.18

$ 0.11

$ 0.42

$ 0.36

Three months ended

Twelve months ended

December 31,

2025

2024

2025

2024

Unaudited

GAAP Operating income (loss)

$ (398)

$ 74

$ (11,346)

$ (7,545)

Equity-based compensation expense included in cost of

revenues

186

143

679

713

Equity-based compensation expense included in

research and development expenses

2,771

2,432

10,549

9,298

Equity-based compensation expense included in sales

and marketing expenses

662

494

2,397

1,801

Equity-based compensation expense included in

general and administrative expenses

2,079

827

6,171

3,763

Amortization of intangible assets related to acquisition

of businesses

208

255

833

1,090

Costs associated with asset acquisition

144

250

577

1,033

Total non-GAAP Operating Income

$ 5,652

$ 4,475

$ 9,860

$ 10,153

Three months ended

Twelve months ended

December 31,

2025

2024

2025

2024

Unaudited

GAAP Gross Profit

$ 27,561

$ 25,852

$ 95,440

$ 94,171

GAAP Gross Margin

88 %

87 %

88 %

Equity-based compensation expense included in cost of

revenues

186

143

679

713

Amortization of intangible assets related to acquisition

of businesses

105

235

491

Total Non-GAAP Gross profit

27,805

26,100

96,354

95,375

Non-GAAP Gross Margin

89 %

88 %

89 %

Three months ended

Twelve months ended

December 31,

2025

2024

2025

2024

Unaudited

GAAP Operating Expenses

27,959

25,778

106,786

101,716

Equity-based compensation expense included in

research and development expenses

2,771

2,432

10,549

9,298

Equity-based compensation expense included in sales

and marketing expenses

662

494

2,397

1,801

Equity-based compensation expense included in

general and administrative expenses

2,079

827

6,171

3,763

Amortization of intangible assets related to acquisition

of businesses

150

598

599

Costs associated with asset acquisition

144

250

577

1,033

Total non-GAAP Operating Expenses

$ 22,153

$ 21,625

$ 86,494

$ 85,222

Ceva, Inc. AND ITS SUBSIDIARIES

INTERIM CONDENSED CONSOLIDATED BALANCE SHEETS

(U.S. Dollars in thousands)

December 31,

2025

2024 (*)

Unaudited

ASSETS

Current assets:

Cash and cash equivalents

$ 40,586

$ 18,498

Marketable securities and short-term bank deposits

181,397

145,146

Trade receivables, net

19,495

15,969

Unbilled receivables

29,860

21,240

Prepaid expenses and other current assets

13,498

15,488

Total current assets

284,836

216,341

Long-term assets:

Severance pay fund

7,530

7,161

Deferred tax assets, net

257

1,456

Property and equipment, net

7,054

6,877

Operating lease right-of-use assets

17,486

5,811

Investment in marketable equity securities

312

Goodwill

58,308

Intangible assets, net

1,044

1,877

Other long-term assets

11,686

10,805

Total assets

$ 388,256

$ 308,948

LIABILITIES AND STOCKHOLDERS' EQUITY

Current liabilities:

Trade payables

$ 2,418

$ 1,125

Deferred revenues

3,496

3,599

Accrued expenses and other payables

21,026

23,207

Operating lease liabilities

1,743

2,598

Total current liabilities

28,683

30,529

Long-term liabilities:

Accrued severance pay

7,690

7,365

Operating lease liabilities

14,388

2,963

Other accrued liabilities

1,037

1,535

Total liabilities

51,798

42,392

Stockholders' equity:

Common stock

Additional paid in-capital

337,966

259,891

Treasury stock

(1,591)

(3,222)

Accumulated other comprehensive income (loss)

(1,330)

Retained earnings (accumulated deficit)

(24)

11,193

Total stockholders' equity

336,458

266,556

Total liabilities and stockholders' equity

$ 388,256

$ 308,948

(*) Derived from audited financial statements.

The Company believes that the reconciliation of financial measures in the press release is useful to investors in analyzing the results for the quarters ended December 31, 2025 and 2024 because the exclusion of the applicable expenses may provide a meaningful analysis of the Company's core operating results and comparison of quarterly results. Further, the Company believes it is useful for investors to understand how the expenses associated with the application of FASB ASC No. 718 are reflected on its statements of income. The reconciliation of financial measures should be reviewed in addition to and in conjunction with results presented in accordance with GAAP and are intended to provide additional insight into the Company's operations that, when viewed with its GAAP results and the accompanying reconciliation, offer a more complete understanding of factors and trends affecting the Company's business. The reconciliation of financial measures should not be viewed as a substitute for the Company's reported GAAP results.

SOURCE Ceva, Inc.