Ceva, Inc. Announces Third Quarter 2026 Financial Results

18% sequential royalty revenue growth and record AI licensing revenues, with multi-year smartphone modem ramp ahead

ROCKVILLE, Md., Nov. 9, 2026 — Ceva, Inc. (NASDAQ: CEVA), the leading licensor of silicon and software IP for the Smart Edge, today announced its financial results for the third quarter ended September 30, 2026.

Third Quarter Highlights: *

• Total revenues of $29.1 million, up 2% YoY.
• Licensing and related revenues of $16.3 million, up 2% YoY.
• Record AI licensing revenues, accounting for more than 35% of total licensing and related revenues.
• Royalty revenues of $12.7 million, up 3% YoY and 18% sequentially.
• 623 million Ceva-powered devices shipped by customers, matching all-time quarterly record, including record cellular IoT and Wi-Fi 6 shipments.

*Unless otherwise stated, all comparisons are to the third quarter 2025.

Amir Panush, Chief Executive Officer of Ceva, commented, “We continued to grow our business in the third quarter, with 18% sequential royalty revenue growth and Ceva-powered device shipments matching our all-time quarterly record. In licensing, we achieved our highest-ever AI licensing revenues and expanded our relationships with three of our highest-volume connectivity customers, building a broader base of potential future royalty-generating products.

“The continued ramp of internally developed modems at a major U.S. customer is creating a multi-year smartphone royalty growth opportunity through 2027 and beyond. We are also extending our AI business into infrastructure applications and moving closer to initial NPU royalties. Together, we believe these developments reinforce the long-term growth potential of our Connect, Sense and Infer portfolio.”

Business and Market Highlights

During the quarter, Ceva signed 10 IP licensing agreements, including three with first-time customers. Six were for AI technologies, including one with a new customer targeting AI infrastructure, and Edge AI agreements targeting consumer, automotive and industrial markets.

In wireless connectivity, three of Ceva’s highest-volume customers extended their agreements for multiple years and added more Ceva IP, including one adding Wi-Fi 6 and Wi-Fi 7 to its existing Bluetooth and DSP deployments. In sensing, Ceva expanded its presence in smart TVs with a customer targeting advanced motion-based interaction.

Other Third Quarter Financial Data: *

• GAAP gross margin was 85%, as compared to GAAP gross margin of 88%
• GAAP operating loss was $3.5 million, as compared to a GAAP operating loss of $2.1 million
• GAAP net loss was $2.3 million, as compared to a GAAP net loss of $2.5 million
• GAAP diluted loss per share was $0.08, as compared to GAAP diluted loss per share of $0.10
• Non-GAAP gross margin was 86%, as compared to non-GAAP gross margin of 89%
• Non-GAAP operating income was $2.5 million, as compared to non-GAAP operating income of $3.1 million
• Non-GAAP net income and non-GAAP diluted earnings per share were $3.8 million and $0.13, respectively, as compared to non-GAAP net income and non-GAAP diluted earnings per share of $2.7 million and $0.11, respectively

*Unless otherwise stated, all comparisons are to the third quarter 2025.

Yaniv Arieli, Chief Financial Officer of Ceva, added, “Royalty revenues grew 18% sequentially, led by the ramp of internally developed modems at a major U.S. customer and continued strength in broad-based IoT and connectivity, partially offset by memory-related softness in compute-intensive consumer devices. A significant multi-year connectivity agreement we expected in the third quarter was signed early in the fourth quarter. With a robust licensing pipeline and a step-up in smartphone royalties, we expect a strong fourth quarter on both the top and bottom lines.”

Financial Tables

To read financial tables, click here

Explore Ceva IP:

• Bluetooth Connectivity Platform
• NPU IP
• NPU IP
• Low Power Ultra-wideband (UWB) IP
• Multi-protocol wireless plaform integrating 802.11ax (Wi-Fi 6), Bluetooth 5.4 Dual Mode, 802.15.4 (for Thread, Zigbee and Matter)

Ceva Conference Call

On November 9, 2026, Ceva management will conduct a conference call at 8:30 a.m. Eastern Time to discuss the operating performance for the quarter.

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

• U.S. Participants: Dial +1 844-435-0316 (Access Code: Ceva)
• International Participants: Dial +1 412-317-6365 (Access Code: Ceva)

The conference call will also be available live via webcast at the following link: https://app.webinar.net/oKLP6DwbXyv. Please go to the website 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: 7028120) from one hour after the end of the call until 9:00 a.m. (Eastern Time) on November 16, 2026. The replay will also be available at Ceva’s website at www.ceva-ip.com.

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 23 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 a 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.