Ceva, Inc. Announces First Quarter 2024 Financial Results
ROCKVILLE, Md., May 9, 2024 /PRNewswire/ -- Ceva, Inc. (NASDAQ: CEVA), the leading licensor of silicon and software IP that enables Smart Edge devices to connect, sense and infer data more reliably and efficiently, today announced its financial results for the first quarter ended March 31, 2024. Financial results for the first quarter ended March 31, 2023, reflect Ceva's continuing operations only, with the Intrinsix business reflected as a discontinued operation, unless otherwise noted.
- Licensing and related revenue for the first quarter of 2024 was $11.4 million, compared to $18.2 million reported for the same quarter a year ago.
- Royalty revenue for the first quarter of 2024 was $10.7 million, compared to $8.0 million reported for the first quarter of 2023.
- Amir Panush, Chief Executive Officer of Ceva, commented: "Our first quarter results reflect solid trends across our business.
- GAAP gross margin for the first quarter of 2024 was 89%, as compared to 87% in the first quarter of 2023.